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The UAE has invested 9 billion dirhams in the aerospace sector in the past four years
The UAE is keen to invite private sector companies to invest in space because it wants to transform the country into a global player in this field.
Sarah Al Amiri, Minister of State for Advanced Technologies of the UAE and Chairman of the UAE Space Agency, said at the Dubai Expo 2020 Space Business Forum: “In our recently announced upcoming mission-exploring the asteroid belt-we will work together with us. Of the private sector to provide valuable knowledge, experience and expertise so that they can participate in the space race.”
In the past four years, the UAE has invested 9 billion dirhams in the aerospace sector, and there are about 70 companies working in the aerospace sector.
In addition, the UAE Space Agency, in cooperation with strategic partners, is currently developing a series of scientific plans to promote and enable the private sector to further invest in the space sector.
According to the statistics of the UAE Space Agency, in 2019, the expenditure of private companies in the aerospace sector has reached 50% of the total expenditure.
Fatima Salem Al Shamsi, Head of Space Regulation and Policy Department of the UAE Space Agency, said: “This is a good percentage and confirms the great interest shown by private sector companies in this important area of ​​investment. The UAE government is focused on establishing and implementing space sector projects in cooperation with the private sector.
“This is a strong motivation to attract domestic and international companies operating in the UAE to invest in the aerospace field. Looking back on successful experiences such as Farmin, this is a technology company that uses satellite images and artificial intelligence to monitor crops. It is supported by the UAE Space Agency and is located in Abu Dhabi. Krypto Labs in Masdar, Dhabi.”
The thought leaders who spoke at the forum emphasized that the UAE’s strategic location facilitates communication and provides elements for the success of space investment.
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Earlier, Al Ameri said at the World Expo: “We are playing an active role in strengthening partnerships with leading global organizations to promote peaceful and mutually beneficial space exploration.
“Dubai Expo 2020 Space week It represents an opportunity to build our long-term relationship with a wide range of stakeholders to achieve our mission of creating a world-class space sector in the UAE. “
The minister also highlighted the UAE’s achievements in sending the first Arab astronaut into space, successfully launching the spacecraft to Mars, and building locally developed satellites, which is a testament to the country’s growing commitment in this area.
Nandini Silka
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