Category: Trading

DUBAI: Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, H.H. Sheikh Ahmed bin Mohammed bin Rashid Al Maktoum, Second Deputy Ruler of Dubai, honoured the winners of the ‘Dubai International Best Practices Award for Sustainable Development’, during the 11th edition of the World Governments Summit (WGS) 2024.

The award, organised by the Dubai Municipality in collaboration with UN-Habitat, recognises and supports the most innovative global concepts, initiatives, and practices that enhance resilience, quality of life, and the global living environment, thereby positively influencing the development of future cities.

H.H. Sheikh Ahmed bin Mohammed emphasised that the award is a reflection of the exceptional approaches of the UAE as well as the emirate of Dubai in embracing sustainable development concepts and practices. Its position, global standing, and crucial role in fostering international cooperation is evidently reflected in the cr
eation of a common and unified area for tackling the problems of climate change, food security, and sustainability, as well as providing access to ground-breaking solutions for constructing futuristic sustainable societies.

H.H. highlighted that the UAE currently serves as a global role model for sustainable and comprehensive development that places a major emphasis on raising the quality of life and well-being of individuals, while fostering social, economic, and urban prosperity in communities by upholding the highest environmental standards.

Sheikh Ahmed bin Mohammed said, ‘We would like to commend all the recipients of the Dubai International Best Practices Award for Sustainable Development. The award successfully served as a global platform for stimulating creative minds and inspiring individuals to design more innovative and ground-breaking solutions that contribute to building the cities of the future. Furthermore, this award has been instrumental in constructing inclusive communities with sustainabl
e and integrated health, food, environmental systems as well as digital and smart engineering infrastructure, which help provide the best quality of life and well-being for future generations.’

‘BAM – Biblioteca degli Alberi Milano Tree Library Project,’ from Italy won the Dubai International Best Practices Award for Sustainable Development in the category of Best Practices in Urban Regeneration and Public Spaces. A project named ‘Scion Innovation Hub’ from New Zealand secured the award in the category of The Most Beautiful, Innovative Iconic Building Practices. ‘EatCloud Zero Food Waste – Zero emissions – Zero Hunger,’ from Colombia was honoured in the category of Best Practices in Sustaining Urban Food Systems.

Furthermore, the ‘Gree Energy (The Hamparan Project) – Avoiding methane emissions from a cassava starch factory and generating clean energy,’ from Indonesia achieved the award in the category of Best Practices in Addressing Climate Change and Reducing Pollution. In the category of Best Practices in
Urban Infrastructure Planning and Management, the project ‘Local Area Development Plan (LADP),’ from Egypt, won the award.

Dawoud Al Hajri, Director-General of Dubai Municipality, shed light on the UAE’s steadfast commitment to achieving comprehensive sustainable development through its variety of innovative plans and strategies. He stated that these strategies are targeted at creating a society with high standards of food security, self-sufficiency, health, social and educational care, economic prosperity, sustainable ecosystems as well as smart and sophisticated infrastructure.

Al Hajri further added that this approach is in accordance with the directives of the leadership to strive for the highest standard of living and social welfare, besides securing a more sustainable future with improved quality of life for all members of the community.

Al Hajri said, ‘The Dubai International Best Practices Award for Sustainable Development echoes the robust policy and unwavering commitment of the UAE and Dubai to e
mbrace cutting-edge practices that enhance quality of life in communities, in line with the Sustainable Development Goals (SDGs). Additionally, it also showcases various ground-breaking global projects and practices that aim to create a positive influence and contribute to the advancement and development of future cities.’

Al Hajri added, ‘We added a new category in the award to recognise and honour the most exceptional and iconic building, which adheres various innovative and sustainable standards. The category requires buildings to combine numerous green building techniques, best design practices, as well as sophisticated and contemporary architecture in a way that enhances the prospects of community well-being, quality and performance.’

The award received 2,638 requests for participation from 144 different countries around the world. These requests were thoroughly examined by an advisory jury made up of 32 experts, technicians and specialised scientific personalities.

Italy’s ‘BAM – Biblioteca degli Alb
eri Milano Tree Library Project’ was awarded the Best Practices Award in the category of Urban Regeneration and Public Places. Part of the urban development project of Porta Nuova district, this project is the first in the world to secure both the LEED and WELL for Communities certifications.

This project is the remarkable outcome of an innovative collaboration between the Municipality of Milan, the Riccardo Catella Foundation, and the COIMA. The objectives of this collaboration include maintaining public parks, fostering urban biodiversity, and bringing communities together through inclusive cultural initiatives and experiences. The BAM project, which is funded through fundraising, offers culturally enriching and free-of-cost programmes that are in line with the Sustainable Development Goals (SDGs).

The ‘Scion Innovation Hub – Te Whare Nui o Tuteata’ project of New Zealand secured the award in the category of the Most Beautiful, Innovative and Iconic Building.

This project is poised to transform the lands
cape with its vision to reimagining the headquarters of the prestigious Sion Research Institute, which specialises in technology development for forestry. Located on the outskirts of Redwoods in the magnificent Whakarewarewa Forest, the primary goal of this project is to bring together a workforce that was previously dispersed across various small buildings across the campus, in a central innovation hub. It also seeks to improve the Sion Institute’s public interface by building a new campus arrival point.

The ‘EatCloud Zero Food Waste – Zero Emissions – Zero Hunger’ project of Colombia has been awarded the Best Practices Award in ‘Sustaining Urban Food Systems’. The project is led by EatCloud, a start-up company that is currently redistributing the largest portion of unsold food globally. The company’s major objectives include using data-driven solutions to reduce food waste, combat hunger, and help the environment.

The digital platform helps avoid food waste and redistribute unsold food to combat hunger on
a large scale. They create an exceptional social and environmental impact by automating the management of excess food using artificial intelligence (AI), which results in significant cost savings in logistics and offer tax benefits.

The ‘Gree Energy (The Hamparan Project) – Avoiding methane emissions from a cassava starch factory and generating clean energy’ won the Best Practices Award in the category of Addressing Climate Change and Reducing Pollution.

As part of the project, Gree Energy offers solution for the cassava starch factory Hamparan, which was previously encountering problems, including unreliable electricity and methane emissions from wastewater treatment. The company was able to successfully convert the produced biogas into electricity, which reduced harmful emissions and improved the local community’s water quality. It further contributes to the global food supply chain and encourages sustainable development in rural areas.

The Local Area Development Plan (LADP) of Egypt has been awarded the
Best Practices Award in ‘Urban Infrastructure Planning and Management’. The LADP seeks to develop a detailed blueprint for the many informal areas in the Greater Cairo. The goal is to highlight the importance of stakeholder participation in the decision-making process and forge a strong connection between the planning phase and service execution.

Three different projects of the suggested plans have been executed. These plans involve revamping the fish market, renovating a school, and transforming an open canal into a park, as well as paving the roads in various areas.

Dubai Municipality is participating as the smart city partner in the 11th edition of the World Government Summit. During this edition, the Summit features more than 4,000 participants, renowned thought leaders, international experts, 120 government delegations, as well as over 85 international and regional organisations, in addition to various other global institutions. The primary goal of this edition of the Summit is to explore the most impo
rtant problems impacting the modern world as well as the opportunities and challenges that lie ahead.

Furthermore, the Summit explores numerous methods for achieving shared goals to progress government efforts, enhance collaboration among global governments, share insights, and highlight successful examples and approaches in government work that have made a positive impact in their respective nations and communities.

Source: Emirates News Agency

ABU DHABI: Mohamed Hassan Alsuwaidi, Minister of Investment, said that the UAE and India have historical relations based on a set of shared values that have evolved into a strong strategic partnership that supports the two countries’ progress and prosperity.

In statements to the Emirates News Agency (WAM) on the occasion of the visit of Indian Prime Minister Narendra Modi to the UAE, Alsuwaidi added that the investment cooperation between the UAE and India, which was recently crowned by the signing of strategic agreements, reflects the UAE’s continued commitment to driving the economic development process in the two countries by developing investment opportunities and ensuring their promotion in various sectors and fields.

The minister pointed out that Indian companies have a distinguished presence in the UAE, which has provided them with promising prospects for expansion in a rapidly growing market. He added that the new investment cooperation contributes to building bridges and creating new economic and i
nvestment paths for Emirati companies in promising economic sectors in India.

In January, the Ministry of Investment signed three Memorandums of Understanding (MoUs) with the Republic of India to promote bilateral investment cooperation in the renewable energy, food processing and healthcare sectors.

The MoUs underpin the UAE’s firm commitment to supporting the sustainable development of India’s thriving economy, which is expected to witness significant growth estimated at 7.3 percent during the current fiscal year.

The economic cooperation between the UAE and India is enjoying significant and rapid growth due to the multiplicity of its sectors and fields, thanks to the Comprehensive Economic Partnership Agreement (CEPA) between the two countries, which entered into force in May 2022. The volume of bilateral trade between the UAE and India reached US$84.5 billion during the period from April 2022 to March 2023, and it is expected to rise to US$100 billion by 2027.

The UAE is the seventh-largest investor i
n India, with investments estimated at US$17 billion by the end of September 2023. The cooperation between the UAE and India focuses on promoting effective cooperation by building strong relations between institutions in the public and private sectors, while providing competitive incentives that support joint initiatives in various fields and enhance the exchange of experiences and knowledge.

Source: Emirates News Agency

SHARJAH: Hamad Ali Abdalla Al Mahmoud, Chairman of Sharjah Economic Development Department (SEDD), received a delegation from Ministry of Investment headed by Mohammed Abdul Rahman Al Hawi, Undersecretary of the Ministry of Investment, accompanied by Mr. Marwan Al Naqi, Director of the Foreign Investment Department.

This meeting was held to provide all capabilities to the business sector, investors and dealers to contribute to achieving sustainable economic development in a way that serves the various economic sectors in the Emirates, in implementation of the directives of the wise leadership in the country.

The two parties discussed number of common matters and the national efforts made as well as their integration at the federal and local levels in creating an appropriate and attractive business environment for investors in various fields, and establishing a stimulating work system for establishing and developing projects and moving them to global levels.

The delegation was also briefed on the licensing
mechanisms provided by SEDD, through a set of services and procedures that are considered essential for conducting business in the emirate in accordance with the highest standards and practices followed. Also, the possibility of creating opportunities for licensed companies in the emirate for foreign direct investment in priority sectors was discussed, by implementing the Ministry’s competencies contained in Federal Decree Law No. 37 of 2023. In addition, the two parties highlighted the mechanism for addressing all challenges facing investors, to increase the competitiveness of countries.

By the end of the meeting, the two parties stressed on the importance of strengthening future cooperation in a way that goes in line with government service standards. Also, they pointed out the importance of holding such meetings in the future because of their role in accelerating development processes, enhancing the investment movement in the country, and unifying mutual efforts and work between the two parties.

Source:
Emirates News Agency

DUBAI: The UAE is a very important economic leader and has performed exceptionally well in driving economy and governance, innovation and as a key strategic hub economy across the broader Middle East, said Mathias Cormann, Secretary-General of the Organisation for Economic Co-operation and Development (OECD).

In statements to the Emirates News Agency (WAM) on the sidelines of the World Governments Summit (WGS 2024), Cormann stressed the summit’s significance in fostering innovative and creative thinking. “So we’ve worked closely with the World Governments Summit for more than a decade. And it’s a very important opportunity to look forward to drive innovative thinking and focus on best practices. And indeed, every year this is a way to really focus on the challenges and opportunities of our time,” he said.

Cormann expressed the OECD’s aspiration to strengthen its partnership with the UAE across various domains, stating, “We are very pleased to be working with the UAE across a whole range of economic policy a
reas, including competition policy, small and medium-sized business governance, taxes, and increasingly also about social policy areas like education, skills development and so on.”

Acknowledging the WGS’s pioneering role in finding solutions to propel economic development, Cormann stressed the necessity of exceptional economic and social policies to support global growth. He underscored the importance of international gatherings like the World Governments Summit in anticipating future challenges across diverse fields.

In this context, the OECD Secretary-General pointed out the continued growth of the global economy despite the challenges it has faced over the past years, including the COVID-19 pandemic, as the global economy has proven its remarkable flexibility in facing various challenges.

Reflecting on the global economy’s resilience amidst challenges such as the COVID-19 pandemic, Cormann projected the global economy to grow at 2.9% this year and 3% next year.

He reiterated the importance of addressi
ng structural challenges, such as climate change and digital transformation, alongside the imperative to enhance global cooperation.

Cormann highlighted the achievements of the 28th Conference of the Parties (COP28), which took place at Expo City Dubai, particularly in advancing climate financing. He noted progress in activating the Loss and Damage Fund with $700 million and surpassing commitments to climate financing, signalling positive strides in the global fight against climate change.

Ensuring the focus on immediate challenges and long-term structural issues, he explained, “But, we’ve got to make sure that we continue to tackle both the short-term pressures and the longer-term structural challenges in front of us, which some very significant new milestones were reached at COP28. In particular, when it comes to climate finance, being able to operationalise the Loss and Damage Fund provided by developed countries around the world, significant progress on the $100 billion climate finance commitment.”

“So
it’s accelerating growth and we believe based on the preliminary data that we’ve seen, that in 2022, the $100 billion target was actually met and exceeded,” he stated.

Cormann reiterated the importance of leveraging climate finance to support emission reduction efforts worldwide, underscoring the significance of ongoing collaboration and innovation in addressing global challenges.

“One of the key challenges is to ensure that there are enough projects around the world to be able to utilise that climate finance so that we can optimise the emissions reduction impacts,” he concluded.

Source: Emirates News Agency

DUBAI: Held under the patronage of the UAE Ministry of Energy and Infrastructure, the 2024 edition of Breakbulk Middle East opened its doors at the Dubai World Trade Centre. Registering an increase in visitors, the region’s leading breakbulk and project cargo event witnessed strong interest from industry professionals.

The massive participation also indicated the industry stakeholders’ keenness to be a part of a well-knit network that has been instrumental in fuelling the growth of the sector in the past few years.

In addition to reuniting the sector under one roof, the event’s agenda is strategically prepared to reinforce the growth of the sector, and bolster the region’s economy. Day one of the exhibition and conference incorporated discussions on opportunities that lie in the MENA region, most significant projects in the pipeline, latest trends, potential to tap into new markets, and digitalisation.

Kickstarting day one with his opening remarks, Eng. Hessa AlMalek, Under-Secretary for Infrastructure and
Transport Affairs at the Ministry of Energy and Infrastructure, said, “Since the past three years, the world has faced significant challenges due to supply chain disruptions caused by the pandemic and geopolitical unrests. However, the UAE and its maritime sector emerged resilient and responded swiftly to overcome challenges, and satisfy global needs. Despite the unprecedented crisis, our ports demonstrated exceptional resilience to ensure a smooth flow of goods from one part of the world to the other, ensuring economic stability locally, regionally, and internationally. One of the key factors that enabled us to ensure business continuity and support industrial operations was our early adoption and active utilisation of advanced technology, positioning ourselves as a global icon for resilience and growth.”

‘Our commitment to securing supply chains and ensuring the wellbeing of our maritime industry can evidently be seen in our competitive global ranking. In addition to ranking third in transport services tra
de and bunker supply index, the UAE was also re-elected to the Executive Council of the IMO under Category B, further consolidating our role in the global maritime spectrum. Despite these achievements, we look forward to constantly innovate and improve our capabilities in order to cement our position as a leading logistics and shipping hub. The support we have offered Breakbulk Middle East over the years aligns with this vision. The event has proven to be one of the most successful and reliable events for the industry’s progress, offering a plethora of valuable opportunities, not only to formulate strategies, but also advance the sector in competitiveness,’ Al Malek added.

The opening session, “MENA Project Review”, highlighted some of the most significant projects in the region’s pipeline which provided insights on the potential economic impact of projects such the NEOM and King Salman Energy Park in Saudi Arabia, as well as the North Field East LNG expansion project in Qatar. The day also incorporated disc
ussions on the opportunities that lie in markets such as Africa for the breakbulk and project cargo sector’s expansion during the ‘Africa as a Region of Opportunity: Outlook, Projects and Entering the Market’ session.

Shahab Al Jassmi, Senior Vice President – Ports and Terminals Commercial- DP World GCC, said, “At DP World, we recognise that the project cargo and breakbulk industry is the backbone of many businesses, from energy to construction and everything in between. As a leading smart trade enabler, we continually invest in technological solutions like Dubai Trade and CARGOES and upgrade our infrastructure to cater to the increased demands.’

‘As the host port of Breakbulk Middle East, we see the event catalysing growth and development while providing a platform for industry leaders, innovators, and experts to exchange ideas and drive progress. By fostering collaboration and innovation, the project cargo and breakbulk sector can be at the forefront, playing a vital role in accelerating the growth traj
ectory of the industry” Al Jassmi added.

Ben Blamire, Event Director, Breakbulk Middle East, said, ‘Our goal has always been to drive the sector’s growth by bringing together industry experts, aspiring professionals, and students for a constructive dialogue and collaboration on new projects. Event’s sessions were very informative and received positive feedback from our attendees. We are grateful for the unwavering support we have received from the government and private sector entities, and we have addressed crucial topics such as the role of the women in the sector, and the future of the industry.’

Source: Emirates News Agency