Asharq Al-awsat English https://aawsat.com/english Middle-east and International News and Opinion from Asharq Al-awsat Newspaper http://feedly.com/icon.svg

Umm Al Quwain Launches Sustainable Blue Economy Strategy

Umm Al Quwain Launches Sustainable Blue Economy Strategy

Wednesday, 30 March, 2022 - 09:45
Sheikh Mohammed bin Rashid Al Maktoum attends the launch of Umm Al Quwain's Blue Economy Strategy at the World Government Summit 2022 (Asharq Al-Awsat)

Umm Al Quwain, one of the seven emirates of the UAE, launched its “Sustainable Blue Economy Strategy 2031” in a move seeking to increase the emirate’s investment attractiveness while developing its natural, cultural, and human wealth.


The Sustainable Blue Economy Strategy initiative was launched at the World Government Summit 2022 and in the presence of Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai, and under the directives of Sheikh Saud bin Rashid Al Mualla, Ruler of Umm Al Quwain and Member of the Supreme Council.


Sheikh Saud said that the strategy is aligned with the UAE’s efforts to enhance sustainable development and ensure optimal use of resources.


“The UAE places the highest priority on the wellbeing of its citizens by launching development plans, policies and strategies aimed at achieving a decent life for them and enabling them to actively participate in all development paths,” he said.


The UAQ Ruler affirmed that Sustainable Blue Economy Strategy 2031, provides opportunities for youth, entrepreneurs, and investors in vital and promising sectors.


He expressed the emirates' keenness to provide all the support necessary for promoting the growth and sustainability of investments and achieving the goals of all partners in the economic system.


During a session at the Summit, Sheikh Majid bin Saud bin Rashid Al Mualla, explained that the Strategy adopts a sustainable framework for the economy of Umm Al Quwain.


“We are keen to keep pace with the best global models for the development of national economic strategies. The Sustainable Blue Economy Strategy sets clear economic development goals based on the strengths of the emirate,” he said.


“Our goal is to double the GDP by 2031 and for the blue economy to contribute 40% of that total. We aim to meet a net-zero emissions target by 2031, by which time a total of 20% of Umm Al Quwain will be dedicated to nature reserves. We have also created three carbon-neutral areas,” Sheikh Majid added.


The strategy also includes establishing the Umm Al Quwain Centre for Entrepreneurship and the Blue Economy that will deliver eight transformative projects across diverse industry and research areas. In addition, it focuses heavily on creating new environmental, cultural, and heritage tourism areas to boost the popularity of one of the UAE’s most diverse but relatively undiscovered regions.


As part of the Sustainable Blue Economy Strategy, the emirate also plans to expand its already strong mangrove cover threefold by 2031 to make a major contribution towards its net-zero target.


The strategy covers 8 sectors: ecotourism, fish, sustainable industrial zones, maritime transport, research and development, blue carbon banks, environmental diversity services, and the social sector. The added value of investment in these sectors is estimated at 5 billion dirhams annually.


As for the most prominent transformational projects included in the strategy, they look to increase the size of the emirate’s nature reserves, to reach approximately 20% of its total area, allocate three carbon-neutral urban areas, and launch a center for the propagation and exporting of mangroves globally.


Editor Picks

Multimedia