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Wednesday, October 4, 2023

UAE Cabinet approves National Energy and Hydrogen Strategy, launches UAE Ministry of Investments


dubai [UAE]3rd July (ANI/WAM): Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, chaired a meeting of the UAE Cabinet at Qasr Al Watan in Abu Dhabi, Sheikh The meeting was attended by His Highness bin Zayed Al Nahyan, Vice President, Deputy Prime Minister and Minister of Presidential Courts; and Sheikh Maktoum bin Mohammed, Deputy Ruler, Deputy Prime Minister and Minister of Finance of Dubai · Bin Rashid Al Maktoum; Lieutenant General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior. Sheikh Mohammed bin Rashid Al Maktoum said: “Today, I presided over a cabinet meeting at Qasr Al Watan in Abu Dhabi, and on the instructions of President Sheikh Mohamed bin Zayed, We passed the decision to establish the Ministry of Investment and appointed Mohammad Hassan Al Suwaidi as Minister. Our aim is to develop the UAE’s investment vision and promote the country’s investment climate and the competitiveness of the sector.”

Al Maktoum added: “As a result of accelerated economic growth, we have approved the updated UAE National Energy Strategy, which aims to triple the contribution of renewable energy over the next seven years and invest 150 million in the same period. AED200 billion to meet the country’s growing demand for energy.” His Highness Sheikh Mohammed said: “We have also approved the National Hydrogen Strategy, which has recently emerged as one of the most important types of clean energy One. The strategy aims to enhance the UAE’s position as a low-emission hydrogen producer and exporter. The next eight years will be through the development of the supply chain, the establishment of a hydrogen oasis and a national research and development center.”

His Highness stated: “We have appointed His Highness Sheikha Mariam bint Mohamed bin Zayed Al Nahyan as the Chairperson of the Center for Education Quality. The Center will be responsible for developing assessment systems, monitoring the quality of education and providing and at all levels to set goals and outputs. Type of education in the country.” His Highness Sheikh Mohammed bin Rashid also said: “We have approved the National Electric Vehicle Policy, which aims to establish a national network of electric vehicle charging points, organize Electric vehicle market, promote the development of related industries to ensure lower emissions, lower energy consumption and maintain sustainable development. “Road Quality”.

His Highness added: “We have also received preliminary national approval for WeRide, the first autonomous vehicle in the UAE. The company will begin testing all types of autonomous vehicles in the country, reflecting changes in future mobility patterns in the country. His Highness Sheikh Mohammed said: “The Cabinet also approved a federal law establishing a Financial Stability Board with the aim of promoting financial stability in the country, monitoring related risks, responding to and preventing financial crises, and developing proactive measures to manage and protect economy, the financial and monetary system of the UAE.”

His Highness Sheikh Mohammed bin Rashid Al Maktoum added: “The UAE is a global financial center trusted by thousands of financial institutions and millions of investors around the world. Our aim is to maintain this Confidence.” His Highness concluded: “Today, we approved amendments to the law on combating human trafficking, including stronger sanctions, new services for victims, including educational support, safe return to their home countries, criminalizing incitement to commit crimes, and increased penalties for perpetrators.”

Ministry of Investment Following the directives of President His Highness Sheikh Mohamed bin Zayed Al Nahyan, the UAE Cabinet has approved the establishment of the Ministry of Investment and appointed Mohamed Hassan Al Suwadi as Minister.

The ministry will support the UAE’s business objectives and investment policies, and promote its world-class infrastructure as a global platform to attract investment across industries. The Ministry will be responsible for proposing the UAE’s overall investment policy in coordination with relevant authorities, and formulating strategies, legislation, plans, projects and national programs to promote the country’s investment climate and enhance its competitiveness.

Mariam bint Mohamed bin Zayed… Chairman of the Center for Educational Quality The UAE Cabinet issued a decision to appoint Her Highness Sheikha Mariam bint Mohamed bin Zayed Al Nahyan as Chairman of the Center for Educational Quality.

The Center will be responsible for approving educational goals and indicators for all levels of education across the country, as well as approving the overall framework, policies, strategies, legislation and education systems for all levels of education, in coordination with the Ministry of Education and the Ministry of Education. Institutions in the United Arab Emirates. In addition, the center will monitor the performance of the education sector and ensure that its output is aligned with current and future labor market needs.

UAE National Energy Strategy 2050 The Cabinet approved an update to the UAE’s National Energy Strategy 2050, which aims to increase reliance on renewable energy, improve energy efficiency and promote the use of clean energy. The strategy will support research and development programs in energy technologies, in addition to encouraging innovation and investment in the energy sector.

The national strategy will aim to strengthen the country’s ability to provide clean and sustainable energy, increase its global competitiveness in the energy sector, and strengthen its position as one of the countries attracting innovation and investment in this sector. The strategy provides new investment opportunities for renewable energy, supports increased collaboration with international partners to achieve sustainable development goals in the energy sector, and constitutes a long-term national plan to balance meeting energy needs with ensuring the natural resource sustainability.

The strategy aims to triple the contribution of renewable energy by 2030 to reduce the impact of climate change and achieve climate neutrality. The strategy aims to achieve fiscal savings of up to AED100 billion by 2030, increase national energy investment by AED15-200 billion by 2030, and increase the share of clean energy in the total energy mix by 2031 to 30%.hydrogen strategy

Amid the UAE’s initiatives and projects to invest in new clean energy, and as part of the country’s preparations to host COP28, the UAE Cabinet approved a National Hydrogen Strategy to support local low-carbon industries, contribute to climate neutrality and strengthen the UAE’s position Contribute to being among the largest hydrogen producers by 2031 through 10 main drivers. The strategy aims to accelerate the growth of the hydrogen economy and strengthen the UAE’s global position as the world’s largest producer of low-carbon hydrogen by developing energy policy and attracting investment in the sector.

National Electric Vehicle Policy In addition, the UAE Cabinet has also approved a national policy on electric vehicles. It aims to develop cooperation with federal and local partners, as well as the private sector, to establish a national network of electric vehicle chargers, support the needs of electric vehicle owners and regulate their market in the UAE.

In addition to reducing carbon emissions by 2050, establishing a unified database of electric vehicle charging stations, helping to improve road quality and maintaining traffic safety, the policy will also help reduce energy consumption in the transportation sector by 20% through green travel projects. This indicator ranks first in the world. During the meeting, the cabinet also gave preliminary approval to the self-driving car project of WeRide, which develops self-driving cars. The approval aims to support technological development in the field of sustainable transport and reduce carbon emissions.

The Federal Private Education Law Cabinet also passed amendments to the Federal Private Education Law to accommodate the new structure of the UAE’s education sector and define the roles of new educational institutions, including the UAE Federal Authority for Early Education (FAEE), in addition to the Ministry of Education and local education agencies In addition to its role, there is also the National Center for Educational Quality.

The meeting also adopted a new framework for federal agencies governing higher education institutions to ensure the quality of local and international education services and outputs in the UAE. In addition, Cabinet passed amendments to the Anti-Trafficking in Persons Act, including stronger sanctions, new services for victims, including educational support, safe return to their home countries, criminalization of incitement to commit crimes, and increased penalties for perpetrators. Punishment.

The meeting approved a federal law establishing the Financial Stability Board, which aims to promote the country’s financial stability, monitor related risks, respond to and prevent financial crises, and develop proactive measures to manage and protect the UAE’s economic, financial and monetary systems. Decisions regarding Tatmeen (a highly advanced drug and medical product tracking platform) were approved during the meeting. In addition, the Cabinet approved the establishment of the Board of Trade Institutions, Federal Law Enforcement Regulations for the Development of the National Industrial Sector, and Technical Regulations on Regulatory Requirements for Medical and Laboratory Measurement Instruments. The meeting approved the mechanism for the application of VAT on electronic devices registered in the country.

Third Update of the Second Nationally Determined Contribution under the Paris Agreement Under the Third Update of the Second Nationally Determined Contribution, the UAE aims to reduce greenhouse gas emissions to 182 million tonnes of CO2eq by 2030 ( MtCO2e), a reduction of 19 would result in a 40% reduction in emissions compared to the 2019 base year level. Compared to a business-as-usual scenario in 2030, the level of emission reduction would be 40%.

The NDC aligns the UAE’s Nationally Determined Contributions with the United Nations Sustainable Development Goals and the Paris Agreement. It demonstrates the UAE’s positive contribution to reducing emissions and limiting global temperature rise to 2°C this century. Even though the UAE is listed as a non-Annex I country, in the third update of the second NDC, the UAE adhered to base year targets and fixed level targets, ensuring transparency and accountability.

In addition, Cabinet approved a system for holding international and regional conferences and events in the country, adopted policies to support federal government talent, and an updated document on the professional ethics of federal government employees. The meeting also reviewed the Federal National Council’s recommendations on the General Directorate of Sports’ policies to support and develop the UAE’s sports sector, in addition to reviewing government reports and approving several international agreements with friendly countries, including the government of São Paulo. Saint Lucia and the Republic of Tajikistan. (ANI/WAM)

(This story was not edited by Devdiscourse staff and was automatically generated from a syndicated feed.)


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