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DUBAI: Mattar Al Tayer, Commissioner-General for Infrastructure, Urban Planning and Well-Being Pillar, Director-General, Chairman of the Board of Executive Directors of the Roads and Transport Authority (RTA), described Dubai’s adaptability and resilience during the World Governments Summit (WGS) 2024, which takes place from 12-14 February under the theme ‘Shaping Future Governments’.

He said, ‘The escalating challenges accompanying rapid global growth demand that future governments focus on city development to foster well being and undertake legislative transformations. Future cities must embrace technological advancements and economic forecasting to build crisis-resilient economies. It is vital for governments to build new capabilities across integrated planning, climate, innovation, research and development, big data, and modern technologies in addition to leading joint efforts alongside businesses and individuals to tackle social and environmental challenges.’

‘Under the leadership of His Highness Sheik
h Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, Dubai has created a model for adapting to change and overcoming challenges. Through pioneering transformational strategies and a renewed vision for development, Dubai has elevated its global competitiveness. Notably, His Highness launched the Dubai Urban Plan 2040 aimed at achieving sustainable urban and economic growth by investing in five urban centres.

‘His Highness has also endorsed the Dubai Economic Agenda D33 launching transformative initiatives and projects aiming to double Dubai’s economy to AED 32 trillion within a decade. Dubai has succeeded in promoting economic diversification and transitioning into a service-based economy, with the service sector now contributing 54 percent to GDP and the trade sector contributing 25 percent to GDP in 2022. Moreover, GDP has grown consistently between 3.5 and 5 percent over the last 10 years.

‘Cities aiming to elevate their status on the global stage need to focus on four key
areas: embracing a broader definition of economic prosperity that encompasses social welfare, happiness, and wellbeing; improving resilience and recovery capabilities in economic downturns; prioritising sustainability, happiness, and wellbeing of citizens; and tackling demographic and environmental challenges. Dubai’s aspirations are boundless when it comes to adopting technological and artificial intelligence advancements, cementing its standing as a global hub for innovation.’

‘The emirate has seen significant progress in this area. For instance, between January and September 2023, Dubai welcomed around 49,000 new businesses, marking a 43 percent increase from the previous year. It is also home to approximately 300 technology start-ups, which have collectively raised over AED 7.3 billion (US$2 billion) in 2023, more than double compared to the year before. Dubai has also set a goal to issue around 40,000 permits for remote work by 2030,’ Al Tayer continued.

‘Governments play a key role in driving the tran
sformation of cities into smart cities through the development of flexible policies and regulations that create positive change and stimulate investment. This also includes forging productive partnerships with research and development institutions and tech firms, supporting innovative research, championing the shift towards agile economies and fostering integration and collaboration across all service sectors. Dubai has initiated several projects to aid its transformation into a smart city, such as Dubai Data, Dubai Artificial Intelligence Roadmap, and Dubai Blockchain Strategy,’ Al Tayer noted.

Al Tayer discussed the significance of the logistics services sector in bolstering Dubai’s economy: ‘The land commercial transport sector in Dubai is valued at AED 8.4 billion, with expectations to double by 2030.’

‘Smart infrastructure plays a vital role in shaping the cities of the future, as it is essential for creating safer, healthier, and more liveable urban spaces. The Government of Dubai has invested in infr
astructure development and the integration of smart technologies. Such investments have led to significant economic benefits and enhanced the operational efficiency of the road network and transportation systems,’ Al Tayer said.

‘From 2006 until January 2024, around AED 290 billion has been saved in time and fuel due to enhancements to the road network, against a government expenditure of AED 140 billion on road and mass transportation network development. Dubai Metro broke even in 2016, seven years after launching, and projections indicate that by 2030, every dirham spent will yield benefits worth four dirhams.

‘The Government of Dubai is committed to enhancing its global leadership in mobility by investing in the expansion and improvement of its road and public transportation networks. Among its recent initiatives is the launch of Dubai Metro Blue Line project. Spanning 30km and connecting 14 stations, this project is expected to serve one million individuals by 2040 and aims to alleviate congestion on ce
rtain traffic corridors by 20 percent,’ Al Tayer explained.

Al Tayer highlighted the role of urban planning and smart infrastructure in supporting the cities of the future: ‘Land use policies, particularly those for mixed-use urban development, play a pivotal role in creating vibrant and inclusive neighbourhoods. They also enhance the utilisation of available spaces, leading to increased workforce productivity and efficiency, and foster wellbeing by ensuring quick and easy access to different services. For example, Singapore’s urban planning achievements are testament to its efficient land use and sustainable infrastructure development. Meanwhile, Barcelona’s urban design is focused on allocating sufficient pedestrian spaces.’

‘The creation of specialised cities by His Highness Sheikh Mohammed bin Rashid Al Maktoum, such as the Dubai Internet City, Dubai Media City, Dubai Industrial City, and Dubai Healthcare City, represents excellent urban planning initiatives. These projects have enabled Dubai to attract
around 7,000 global businesses and contributed to promoting holistic development and economic growth. The launch of Dubai’s Master Urban Plan 2040 further underscores the emirate’s commitment to building on its economic achievements. The plan outlines the allocation of 168 square km for economic and industrial activities, a 25 percent increase in space for educational and health facilities, and a 134 percent expansion in areas designated for hospitality and tourism activities,’ Al Tayer said.

‘The success of the real estate industry in cities reflects the effectiveness of urban planning. In Dubai, this sector has witnessed remarkable success, securing a prominent spot in the global market and emerging as a top choice for both local and international investors. Post-COVID-19 pandemic, the sector has seen consistent yearly growth, with real estate sales across Dubai hitting AED 412 billion in 2023, a 55 percent increase from the previous year. The volume of real estate transactions grew by 36 percent over the
same period, underscoring the sector’s success. Key factors contributing to this achievement include transparency and credibility, ease of investment and capital movement, superior investor services, and the nation’s high standards of security and safety,’ Al Tayer concluded.

More than 4,000 participants from the public and private sectors will participate in 110 interactive sessions at WGS 2024, including 200 speakers from 80 international, regional, and intergovernmental organisations including the UN, the World Bank, the International Monetary Fund, the World Health Organization, the International Atomic Energy Agency and the Arab League. It will also welcome eight Nobel prize winners and provide a platform for 23 ministerial meetings in the presence of more than 300 ministers.

In partnership with a select group of knowledge partners, the Summit will launch more than 25 strategic reports, focusing on the most important practices and trends in vital sectors.

Source: Emirates News Agency

DUBAI: The World Governments Summit (WGS), which opened today in Dubai and runs until February 14, seeks to answer several questions that will shape the future of the world in various areas, including artificial intelligence, economy, health, education, climate, space, energy, balance of power, peace and security, government services, and human empowerment.

The summit’s questions begin with “what, who, where, and how?” in search of solutions and visions to address future challenges. These include questions about the role of mind maps in accelerating sustainable development goals, designing sustainable cities, how the energy sector shapes the global balance of power, and how we can utilise 100% of our mental abilities.

WGS 2024 explores future opportunities and challenges and identify pathways to shared visions for improving government work and strengthening cooperation between world governments.

The questions and anticipated solutions to the challenges are discussed through 15 global forums and more than 1
10 main interactive dialogue sessions, featuring 200 global figures including presidents, ministers, experts, thinkers, and future makers, as well as more than 23 ministerial meetings and executive sessions with the participation of over 300 ministers.

Artificial intelligence and its role in various aspects of life are among the most pressing questions about the future. The fear of artificial intelligence replacing humans is at the forefront of these concerns, along with questions about the readiness of countries for the coming tsunami of artificial intelligence and whether it will lead us to the end of the world.

According to a report by Statista, a German online platform that specializes in data gathering and visualization, the global artificial intelligence market is expected to grow 20-fold during the current decade, reaching approximately $1.85 trillion USD by 2030, compared to $95 billion at the end of 2021.

Source: Emirates News Agency

DUBAI: The OPEC Fund for International Development (OFID) has committed a US$27 billion to support 4,000 development projects in over 125 countries since its inception, highlighted Dr. Abdulhamid Alkhalifa, OFID Director-General.

In 2023, funding reached a record $1.7 billion through 55 projects worldwide, bolstering initiatives promoting social and economic resilience and sustainable growth.

“The UAE has played a significant role in supporting the fund since its establishment in 1976, contributing as an OPEC member state in the fund’s initiatives and projects aimed at promoting sustainable development globally,” Dr. Alkhalifa said in statements to the Emirates News Agency (WAM) during the World Governments Summit (WGS).

He lauded the UAE’s unwavering commitment to mobilising significant funding and its focus on energy transition aligns with efforts to support sustainable development and other strategic alliances.

Regarding the role of the World Governments Summit in stimulating international cooperation
and envisioning the future of governments and governmental work, the OFID Director-General said that the summit seeks to enhance international cooperation, serving as an ideal platform to enhance partnerships by bringing together international organisations, decision-makers, experts, and innovators.

Underscoring the WGS’ crucial role in fostering international cooperation and envisioning the future of governance, Dr. Alkhalifa lauded the platform’s ability to convene international organizations, decision-makers, experts, and innovators to strengthen partnerships.

He recognised the summit’s immense value in facilitating discussions on governmental processes, policies, and future trends, aiming for concerted efforts towards achieving comprehensive and sustainable development.

Dr. Alkhalifa concluded, “We look forward to exchanging ideas with our counterparts and finding appropriate solutions to global challenges.”

The OPEC Fund for International Development, founded in 1976, is a multilateral development fi
nance institution. Its membership comprises 12 countries: the UAE, Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Saudi Arabia, and Venezuela. The organisation collaborates with the global community to stimulate economic growth and social progress in low- and middle-income countries worldwide.

Source: Emirates News Agency

DUBAI: Christer Viktorsson, Director-General of the Federal Authority for Nuclear Regulation (FANR), has said that the final tests of the fourth reactor at the Barakah Nuclear Energy Plant are being underway. He expressed his anticipation of commencing the process of connecting and linking the fourth unit to the power grid in a few months in preparation for the full operation of the plant.

Barakah currently has three reactors in full operation, and the fourth reactor is being started. FANR issued the operating license last November, and subsequently, the loading of fresh nuclear fuel began, which has now been completed. The final tests are currently ongoing. “We hope that they will become operational in a few months and begin supplying electricity in a couple of months. This will mark the completion of the entire Barakah project, and we will need to continue our oversight,” he added.

Viktorsson added in statements to the Emirates News Agency (WAM) on the sidelines of the World Governments Summit (WGS) 2024
in Dubai, that FANR continues its supervisory operations on the plants. The authority has developed a new approach to regulating nuclear safety in the UAE to license or approve a request to start operating a new nuclear reactor. He emphasised the Authority’s keenness to continuously benefit from all international experiences.

He mentioned that this year’s priority is to ensure the safe operation of the four reactors, which are expected to continuously provide energy 24/7. ‘They will need to stop for refueling. This is a critical period where we conduct inspections. We have 10 inspectors at the power plant conducting continuous surveillance, and they report to the headquarters.’

In the context of participating in the WGS 2024, Viktorsson underscored the importance of the summit in bringing together government leaders, business leaders, experts and academics to enhance teamwork to cover various fields and discuss the needs of governments in the future. He pointed to the participation of FANR in a number of se
ssions and meetings that enhance bilateral discussions between the authority and its counterparts in nuclear supervision and strengthen cooperation with federal and national authorities.

He underpinned the close relations that FANR has with its counterparts in the Republic of Korea as a main supporter of the UAE’s peaceful nuclear programme and innovative nuclear regulatory systems, as well as the depth of strategic relations with the United States of America, as they look forward to cooperating with Japan and China during the current year within their goals of strengthening international relations and exchanging expertise and skills in this field.

In the context of empowering youth skills, Viktorsson outlined FANR’s continuos interest in empowering youth through organising working groups and seminars, adding that ‘for nuclear energy to be safe, it needs sustainability, and it needs qualified human resources.’

Source: Emirates News Agency

DUBAI: Haitham Al Ghais, Secretary-General of the Organization of Petroleum Exporting Countries (OPEC), said that adherence to environmental standards and the transition to clean energy should not conflict with relying on oil as a main energy source worldwide.

Al Ghais made his remarks during the plenary session ‘Will Our Future Economy still be Fueled by Oil?’ on the second day of the World Governments Summit (WGS) 2024, held in Dubai on 12-14 February under the theme of ‘Shaping Future Governments’.

Al Ghais pointed out that governments need to find ways to achieve balance between utilising oil and committing to their responsibility of protecting the environment and applying international conventions that regulate the use of fossil energy sources.

Balance is achieved, Al Ghais said, by adhering to the provisions of the United Nations Framework Convention on Climate Change (UNFCCC), which stipulates that states have the sovereign right to exploit their own resources pursuant to their own environmental and
developmental policies, and the responsibility to ensure that activities within their jurisdiction or control do not cause damage to the environment of other States or of areas beyond the limits of national jurisdiction.

Praising the UAE’s efforts in this field, the Secretary-General of OPEC said the UAE ‘has committed itself to the UN charters, although it is one of the top oil producing and exporting countries.’

‘The UAE’s ambitious and pioneering pathway in development and economic construction, while respecting the environment and adhering to the requirements of the UNFCCC, is the best testimony to the possibility of achieving this balance,’ he added.

Al Ghais stressed that the transformation of energy systems represents a critical issue with a decisive outcome, and must be handled realistically, fairly and comprehensively, by moving away from the single-solution approach and adopting an approach that facilitates reaching diversified comprehensive and responsible solutions.

Moreover, Al Ghais clarifie
d that economists, energy experts, and environmental experts always discuss terms and concepts related to the energy sector such as ‘energy security’ or ‘sustainable energy’, but they may overlook an important issue – ‘energy poverty’.

In many countries, he said, dozens of remote villages do not have access to electricity to this day, prompting them to rely on wood to generate the energy required for cooking.

The answer to the question ‘Will our future economy still be fueled by oil?’ should focus on understanding the necessity of maintaining integration of all energy sources required to support and develop our local and global economy, according to Al Ghais.

He stressed that the issue dispensing oil for other energy sources is an unrealistic approach as it wastes an important element that several industries depend on including the manufacture of materials used in creating renewable energy sources. Lithium batteries, for example, are manufactured with raw materials extracted from oil and the textile indust
ry, he said.

Al Ghais highlighted OPEC’s efforts in carrying out consultations with several countries interested in joining the ‘Declaration of Cooperation’. He explained that the Declaration aims to foster dialogue between participating countries and the oil producing and consuming countries with aims to enhance the stability of the oil markets as well as boost cooperation in several fields, including technology, for the benefit of all stakeholders involved in the oil industry.

The WGS 2024, hosts over 25 heads of state and governments, over 85 international organisations, 140 governments, thought leaders and experts, to discuss major global future trends in 110 interactive dialogues with over 200 prominent speakers. The summit will host 23 ministerial meetings and executive sessions welcoming over 300 ministers.

Source: Emirates News Agency