UAE Launches ‘Designing the Next 50' Project

UAE Launches ‘Designing the Next 50' Project
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UAE Launches ‘Designing the Next 50' Project

UAE Launches ‘Designing the Next 50' Project

The United Arab Emirates launched on Monday the ‘Designing the Next 50' project to involve the public in shaping the future of the UAE.

The project will establish the pillars and components of the UAE Centennial Plan 2071 as part of plans to develop a comprehensive development plan for the next five decades beyond 2021.

Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai, said: "Fifty years ago, the UAE’s founders started a mission to involve people in shaping the country’s future that we see today. They started from the desert with ambitions that reached outer space.

They gathered and discussed people’s ideas while living in different circumstances with fewer resources, but they were united by the same spirit and extensive efforts that aimed for the summit. Their mission made history and redefined the concept of modern societies."

He added, "Today, we revive the mission of the UAE’s founders. Today, we begin our mission to prepare for the next 50 years that lead up to the UAE’s Centennial. Our duty is to design the UAE of the future for the next generations and to involve our people in this mission just like our founders did. We invite citizens and residents to join us in shaping the future of the UAE."

A digital platform will be launched to gather ideas from citizens and residents on shaping the UAE’s next 50 years in sectors including health, education, social development, economy, environment, housing, tourism, entrepreneurship, investment, skill development, societal values, culture, family relations, sports, youth, food security, science, and advanced technologies.

Public and private entities will use tools including remote meetings, surveys, and discussion sessions to receive feedback from the public.

The private sector's key role in 'Designing the Next 50' will be specially highlighted through hosting the country's national and global companies, SMEs, startups, and entrepreneurship in different events and discussions.



Aramco, Rongsheng Petrochemical Sign Framework Agreement to Advance SASREF Expansion

Aramco, Rongsheng Petrochemical Sign Framework Agreement to Advance SASREF Expansion
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Aramco, Rongsheng Petrochemical Sign Framework Agreement to Advance SASREF Expansion

Aramco, Rongsheng Petrochemical Sign Framework Agreement to Advance SASREF Expansion

Saudi Aramco, one of the world's leading integrated energy and chemicals companies, Aramco affiliate Saudi Aramco Jubail Refinery Company (SASREF), and an affiliate of Rongsheng Petrochemical Co. Ltd. (Rongsheng Petrochemical) signed a Development Framework Agreement in Beijing, China, that paves the way for an expansion project at SASREF in Jubail, Saudi Arabia.

The tripartite agreement outlines the cooperation mechanism and planning for the project's design and development. The project aims to expand SASREF's refining and petrochemical capabilities while fostering international collaboration, said Aramco in a statement on Tuesday.

Aramco Downstream President Mohammed Y. Al Qahtani said: "By aligning our efforts, Aramco and Rongsheng Petrochemical aim to deliver additional value to our stakeholders. This Development Framework Agreement underscores Aramco's intentions to foster closer collaboration with key partners and progress its strategic downstream expansion, both in the Kingdom of Saudi Arabia and internationally. It also highlights the potential of the Kingdom's downstream sector to attract overseas players."

Rongsheng Petrochemical Chairman Li Shuirong said: "The signing of the Development Framework Agreement sets the stage for Rongsheng Petrochemical's in-depth participation in the SASREF expansion project."

"Saudi Arabia has abundant energy resources and significant market potential, and Rongsheng Petrochemical will bring strong momentum to the partnership through our excellent operation and management capabilities and market competitiveness," he added

"This collaborative project not only has important strategic value for the future development of both companies but will also make contributions to China's Belt and Road Initiative and Saudi Arabia's Vision 2030," he stressed.

In April, Aramco and Rongsheng Petrochemical signed a Cooperation Framework Agreement relating to the planned formation of a joint venture in SASREF and significant investments in the Saudi and Chinese petrochemical sectors. Preliminary documentation relating to the Development Framework Agreement was signed in September.

The SASREF expansion project is located in Jubail Industrial City, which is along the Arabian Gulf coast in Saudi Arabia's Eastern Province. The city has a well-developed infrastructure and strategic geographical advantages.

The project, which is currently in the PREFEED stage, envisages the construction of large-scale steam crackers and the integration of associated downstream derivatives into the existing SASREF complex, enhancing its ability to meet the growing demand for high-quality petrochemical products.