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.



Saudi Arabia to Host Regular World Economic Forum Global Meeting

A view of the Saudi capital, Riyadh. (Getty Images)
A view of the Saudi capital, Riyadh. (Getty Images)
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Saudi Arabia to Host Regular World Economic Forum Global Meeting

A view of the Saudi capital, Riyadh. (Getty Images)
A view of the Saudi capital, Riyadh. (Getty Images)

Saudi Arabia will host a regular high-level World Economic Forum (WEF) global meeting in Riyadh, with the first slated for the Spring of 2026.

Saudi Minister of Economy and Planning Faisal Alibrahim and WEF President Børge Brende, made the announcement on Friday - the final day of the 55th Annual Meeting of the World Economic Forum in Davos, Switzerland.

The global WEF meeting in Riyadh will serve as a vital platform for global leaders, experts, policy- and decision-makers from diverse fields including the public and private sectors, academia, international organizations, and civil society to convene and address the challenges defining the world.

“Hosting a regular global World Economic Forum meeting in the Kingdom is a testament to the global platform for dialogue, collaboration and innovation that Saudi Arabia has become, and that the World Economic Forum continues to be. This meeting represents a significant opportunity to further unite the world in capturing the immense potential that lies ahead,” said Alibrahim.

“In this critical juncture for the global economy, we are not only inspired by the opportunities before us, but also deeply confident that our collective efforts will forge a brighter, more inclusive and more prosperous future for all. We look forward to welcoming the global community again in Saudi Arabia in the spring of 2026,” he added.

For his part, Brende said: “The World Economic Forum is looking forward to coming back to the Kingdom in 2026. To close the 55th World Economic Forum with this announcement puts us on a strong course for the years ahead. Years that will have immense consequences. Because the progress we make over the coming months will not only deliver results in the near term, but will shape our course for years to come.”

Building on the success of the World Economic Forum Special Meeting held in Riyadh in April 2024, this new development solidifies Saudi Arabia’s position as a central player in shaping the global agenda. The Kingdom’s bold leadership and determination to foster global dialogues between developed and developing economies and drive inclusive global growth make it an ideal host to address complex global challenges with the WEF community.

The World Economic Forum Global Meeting in Riyadh is set to become a cornerstone event in the global calendar, reflecting the Kingdom’s position as a key bridge between the north and south, east and west, and a beacon for constructive dialogue and action.