UAE Minister Of Economy Highlights Investment Opportunities In Circular Economy At World Economic Forum

Abdulla bin Touq Al Marri, the UAE's Minister of Economy and Chairman of the Circular Economy Council, participated in a session at the 55th Annual Meeting of the World Economic Forum in Davos 2025. The session, titled "Turning Plastic Waste into Raw Materials: Fueling the Circular Economy," was part of the event themed ‘Collaboration for the Intelligent Age.’

During this session, bin Touq highlighted the UAE's strategic role in advancing the circular economy. He noted that proactive initiatives and strategies have significantly contributed to global efforts to tackle environmental challenges, reduce carbon emissions, and minimise waste. These actions align with sustainable development goals.

The UAE was among the first nations to sign the ‘Scale360°’ initiative in partnership with the World Economic Forum. This initiative underscores its commitment to fostering a circular economy. Bin Touq explained that climate change and global economic shifts necessitate adopting circular economic models to ease environmental and resource constraints.

He emphasised that these models involve raising awareness and enhancing stakeholder capacities in technologies, methodologies, and business models promoting a circular economy. Such initiatives are crucial for preserving natural resources, improving consumption efficiency, and reducing waste.

The session explored opportunities and challenges in acquiring plastic waste and converting it into recyclable raw materials. Discussions centred on adopting advanced recycling technologies and business strategies to ensure a steady flow of raw materials while safeguarding the environment.

Moreover, participants examined crafting policies that balance environmental safety with development needs. Bin Touq stated, "Accelerating the shift towards a circular economy model is paramount for achieving sustainable economic and social development in the UAE."

UAE Circular Economy Agenda 2031

The 'UAE Circular Economy Agenda 2031' serves as a national roadmap fostering cooperation to drive transformative environmental practices. It promotes sustainable production and consumption approaches while encouraging investments in natural resources.

This agenda includes implementing 22 circular economy policies across four key sectors: manufacturing, food, infrastructure, and transportation. These policies aim to embrace advanced recycling technologies, achieve significant economic returns, ensure stable raw material supplies, boost competitiveness, drive innovation, promote growth, and create jobs through private sector partnerships.

Global Recognition at COP28

The UAE hosted COP28, gaining international recognition for its effective role in promoting global initiatives supporting sustainable development and addressing climate change. The conference leveraged the UAE's robust economic ecosystem offering competitive advantages in sustainability sectors like clean energy and green finance.

Bin Touq encouraged participants to leverage investment opportunities offered by the circular economy. He called on them to establish sustainable initiatives in the UAE by utilising its advanced infrastructure in this field.

In another session at the forum's sidelines, bin Touq discussed incorporating innovation and cutting-edge technologies into various circular economy sectors such as sustainable manufacturing, smart transportation, and clean energy. He also stressed developing a secure cross-border business environment enabling seamless processes for business owners and exporters.

The Minister reaffirmed the UAE's commitment to advancing sustainable practices locally, regionally, and globally. The country aims to set an example for balancing environmental management with economic growth.

With inputs from WAM