Post by : Rameen Ariff

His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Supreme Space Council, presided over a pivotal meeting of the UAE Space Council. This session was dedicated to evaluating the UAE's innovative strategy for advancing its space sector.

This new plan is anchored by three principal objectives. Firstly, it seeks to position the UAE as a dynamic global hub with an investment-friendly environment for the space sector. Secondly, it aims to foster international partnerships, thus enhancing access to global markets. Lastly, the strategy underscores the significance of developing state-of-the-art space infrastructure that adheres to top global standards.

During the session, Sheikh Hamdan was informed of the promising results from the Space Economic Survey, demonstrating robust growth within the sector over the last five years. He also initiated the National Space Industries Programme, crafted to enhance the competitiveness of both national and international entities operating within the UAE's space industry.

Sheikh Hamdan highlighted the critical role of the space sector in shaping the UAE’s future, asserting its importance for cultivating a knowledge-driven economy and promoting groundbreaking solutions that will prepare the nation for future challenges.

He underscored the necessity of space investment for accelerating the UAE's position both regionally and on the world stage. He also noted the considerable interest from top international firms, reflecting confidence in the UAE’s regulatory landscape and sophisticated infrastructure.

Looking ahead, the Crown Prince set forth bold aspirations for the UAE's space sector, with a target to boost its economic value by 60% and secure a place among the world’s top ten space economies by 2031. This involves doubling investment in infrastructure and increasing the number of homegrown space companies.

The Space Economic Survey revealed a staggering 49% rise in both public and private investment in the sector over the past five years, underscoring the UAE's dedication to establishing a sustainable space ecosystem. Moreover, investment in R&D for space has surged nine-fold since 2019, highlighting the UAE's commitment to scientific advancement and the cultivation of competitive innovations.

Significantly, the survey also indicated a 51% growth in the number of Emirati women engaged in the space sector compared to the previous year, illustrating the UAE's commitment to gender equality and the vital contributions of women in progressive industries.

The newly unveiled National Space Industries Programme encompasses a range of initiatives aimed at stimulating growth in the space arena, including economic policies tailored for both emerging and established space enterprises. This initiative also provides financial and operational resources to ensure company competitiveness and expansion.

Furthermore, this program aspires to facilitate access to both local and international markets through specialized channels, consequently enhancing opportunities for companies to engage in national contracts. It also prioritizes the promotion of knowledge exchange and technology collaboration between public and private sectors.

Overall, Sheikh Hamdan’s visionary leadership and the UAE’s strategic roadmap are designed to establish the nation as a preeminent player in the global space sector. Through enhanced infrastructure investment, company support, and innovation encouragement, the UAE is poised to fortify its space industry and greatly contribute to its economic diversification and growth.

#Global News #UAE News