Hamdan bin Mohammed: Trade is one of the main pillars of diversifying Dubai’s economy

DUBAI, 22nd JANUARY / WAM / His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence, and Chairman of the Executive Council of the Emirate of Dubai, affirmed that trade is an economic activity that Dubai has mastered over the decades during which it was able to make a difference for itself. A distinguished position as a focal point for trade movement around the world. His Highness praised the role of Dubai’s merchants and its trading partners around the world for their contribution to supporting the emirate’s approach to diversifying its sources of income. Gaining it a prominent position on the global trade map.
This came during His Highness’s meeting with a group of businessmen, merchants and investors, today (Wednesday) at the Zabeel Majlis in Dubai, where His Highness praised the strong performance of the trade sector in light of the rising growth indicators, which reflect the success of the efforts and strategies to develop the sector in light of the vision of His Highness Sheikh Mohammed bin Rashid. Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, for the future of trade as a main source of sustainable development, a vision that was translated into the goals of the Dubai Economic Agenda, and from The most notable of which is doubling Dubai’s foreign trade to 25.6 trillion dirhams, and adding trade corridors for Dubai with 400 new cities around the world by 2033.
His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said: For decades, Dubai has adopted a forward-looking economic approach based on diversifying sources of income, and trade has been and will remain one of the main pillars of diversifying Dubai’s economy, and we continue to confirm its growth opportunities through an increasingly strong partnership with the private sector, by continuing to develop… Infrastructure that serves the sector, building new partnerships and consolidating the foundations for the prosperity of existing ones, and enacting and updating legislation that supports commercial activities in line with international standards. And employing digital transformation and innovative technologies to accelerate business operations and make them more efficient and sustainable, so that we can reach new levels of growth with our partners.
His Highness added: The strong results achieved by Dubai’s foreign trade reassure us that we are moving in the right direction with a realistic vision and specific goals for the sector, with all its importance in creating more job opportunities, enhancing competitiveness, expanding the scope of markets, and opening new horizons for our partners to develop their businesses and giving them the capabilities that support their access to… New markets from Dubai, which will always remain a major gateway for global trade.
The meeting was attended by His Highness Sheikh Mansour bin Mohammed bin Rashid Al Maktoum, Chairman of the Dubai Sports Council, and a number of sheikhs, ministers, military leaders and senior officials in Dubai.
In addition, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum and the audience followed a lecture presented by Bin Nowak, co-founder and CEO of Reflect Orbital, about new technologies that the company is developing in order to ensure the delivery of sunlight to solar energy storage stations in Night times, which is a technology that relies on the use of huge panels of light reflectors that are installed in space and within orbits around the Earth, as this technology has a significant positive impact on the lives of societies and improves their opportunities for development.
In his lecture, Nowak discussed the advanced method of new technology aimed at ensuring the continued supply of solar energy plants with sunlight even after sunset, and during the night periods, by using huge space reflectors to transmit sunlight to them, in light of many factors encouraging entry into this field, the most important of which are The great development in the space industry and the increasing global investments in developing new generations of spacecraft that are larger and less expensive, in addition to the continuing global expansion in reliance on the sun as a source of clean energy, where the only obstacle remains the absence of the sun in Night times, which the company seeks to overcome by launching its first satellite, which will carry reflectors used to transmit sunlight to dark areas during the night.

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