UAE Launches Global EV Market

An electric car displayed by Dubai Police during the Arabian Travel Market exhibition earlier in May (WAM)
An electric car displayed by Dubai Police during the Arabian Travel Market exhibition earlier in May (WAM)
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UAE Launches Global EV Market

An electric car displayed by Dubai Police during the Arabian Travel Market exhibition earlier in May (WAM)
An electric car displayed by Dubai Police during the Arabian Travel Market exhibition earlier in May (WAM)

The UAE launched the Global EV Market, a transformational project under the performance agreements signed by federal authorities, which enhances its competitiveness in a sector that is one of the future transformational projects.

Minister of Energy and Infrastructure, Suhail al-Mazrouei, said the new market comprises a comprehensive plan and an ambitious national program to integrate the energy and infrastructure sectors and align the work of federal and local government entities and private sector businesses.

- National roadmap

The minister explained that the Ministry of Energy and Infrastructure (MoEI) launched the UAE Roadmap for Electric Vehicles as a comprehensive action plan that involves developing guides and policies.

The roadmap offers government incentives and sets ambitious strategies to integrate the work of federal and local government entities and the private sector to promote the adoption of electric vehicles in the UAE.

MoEI also launched the National Platform for Electric Vehicles' Chargers, a mobile app to link users and a guide for installing electric vehicle charging stations to unify their specifications nationwide and align them with world-class standards.

"We seek to create a conducive environment for the growth of the EV market in the UAE through policy levers for investment and socio-economic and environmental incentive schemes. To support the shift to green mobility, we aim to increase the share of EVs to 50% of total vehicles on our roads by 2050."

- Agreements

The Ministry signed several cooperation agreements to support the Global EV Market transformational project, through which the partners would cooperate to create incentives for people to own EVs.

They also aim to facilitate investment in the UAE network of electric vehicle charging stations and install them across federal buildings and roads and MoEI's truck rest stops.

The private sector partners will play a key role in promoting EVs.

They will invest in establishing EV charging stations and operating them, and setting up EV service centers across the country to offer dedicated services to EV owners.

- 700 EV chargers

For his part, the Undersecretary for Infrastructure and Transport Affairs at MoEI, Hassan al-Mansouri, indicated that the project includes a national interactive platform that provides more than 700 EV chargers nationwide.

Furthermore, Undersecretary for Energy and Petroleum Affairs at MoEI, Sharif al-Olama, said the UAE has clear targets for the transport sector, including the green mobility program, which aims to increase the share of electric cars and electric buses and create a mix of options for trucks.

It aims to reduce energy consumption by 40 percent by 2050, per the objectives of the transport sector's National Demand Side Management Program.

According to unofficial data, the number of electric vehicles in the UAE has reached more than 5,100, and it aims to reach 42,000 EVs by 2030.



Riyadh Hosts Saudi-Egyptian Industrial Forum

Officials are seen at the forum on Monday. (SPA)
Officials are seen at the forum on Monday. (SPA)
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Riyadh Hosts Saudi-Egyptian Industrial Forum

Officials are seen at the forum on Monday. (SPA)
Officials are seen at the forum on Monday. (SPA)

The Saudi-Egyptian Industrial Forum kicked off in Riyadh on Monday under the patronage of Minister of Industry and Mineral Resources Bandar Alkhorayef. The forum aims to bolster strategic industrial cooperation and integration between the two countries.

Organized by the Federation of Saudi Chambers of Commerce in collaboration with the Federation of Egyptian Industries, the forum witnessed the participation of Deputy Minister for Industrial Affairs Eng. Khalil bin Salamah, Saudi Export Development Authority CEO Abdulrahman Althukair, and 300 prominent Saudi and Egyptian industry leaders and investors.

Bin Salamah underscored the significance of strengthening economic cooperation and industrial integration between Saudi Arabia and Egypt. He advocated for enhanced industrial partnerships within five priority sectors identified in the Kingdom's National Industrial Strategy: pharmaceuticals, automotive, building materials, textiles, and food industries.

He highlighted the evolving strategic integration between the two countries across initiatives like "Saudi Made,Future Factories," and "Made in Egypt," as well as in the broader goods and services sector. Bin Salamah urged Egyptian industrialists to capitalize on the industrial investment opportunities available in the Kingdom, citing its ambitious plans to establish 24,000 new factories over the next decade.

Federation of Saudi Chambers of Commerce Chairman Hassan Alhwaizy hailed the forum as a crucial milestone in Saudi-Egyptian industrial collaboration, emphasizing the strategic partnership underpinning their economic relations, particularly in the industrial sector.

Federation of Egyptian Industries Chairman Mohamed El-Sewedy stated that current global challenges are accelerating the need for industrial integration between the two countries, strengthening their partnership to tap into the African market's potential.

Saudi-Egyptian Business Council Chairman Bandar Al-Ameri highlighted the substantial growth in trade exchange between Saudi Arabia and Egypt in recent years, fueled by developing economic partnerships between their respective business communities. He emphasized that signing the agreement to protect and encourage mutual investments represents a strategic achievement serving their shared interests.