Incentives

usages. The agricultural sector is responsible for the lions’ share of the UAE’s water consumption, as it consumes about 83% of the total water demand compared to its domestic and industrial sectors. Enhancing Controlled Environment Agriculture is one way the UAE is cutting down on its water demand, as it enables crop growing using up to 95% less water than traditional agricultural methods. CEA represents a main plank of the UAE’s National Food Security Strategy 2051, which aims to ramp up the country’s ability to produce food sustainably using technology-enabled methods. As a result of the National Food Security Strategy efforts, the UAE is now home to a dynamic, vibrant and modern agriculture sector, the latest addition being the Food Tech Valley. Launched earlier this year, the food hub aims to double the UAE's food production through modern agriculture systems that adopt and implement the latest technology across the food value chain. Almheiri concluded that reusing TSE within CEA farms would enable the UAE to improve the way it uses resources through combining two synergistic efficiencies, with CEA farms providing a reduced demand for water, and this reduced demand being met by supplies that are sustainable. In addition to the presence of Almheiri, the virtual workshop was attended by representatives from various federal government bodies, local authorities, private sector stakeholders, nonprofit organisations and international institutions.

ABU DHABI, 20th September, 2021 Abdullah bin Touq Al Marri, Cabinet Member and Minister of Economy; and Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, met with the UAE-US Business Council in Washington, DC, during the high-level UAE delegation’s visit to the United States. The meeting was attended by the UAE delegation accompanying the two ministers, in addition to representatives of 85 American companies that are members of the Council. The two sides underlined the importance of the role played by the Council in strengthening ties, forging trade and investment partnerships between the companies of the two countries, and facilitating the exchange of experiences, in addition to reviewing investment trends and opportunities in both markets. From the UAE side, the meeting was attended by Mohamed Ali Al Shorafa Al Hammadi, Chairman of Abu Dhabi Department of Economic Development; Eng. Saed Mohamed Alawadi, Chief Executive Officer of Dubai Exports; Mohamed Juma Al Musharrkh, Chief Executive Officer of Sharjah FDI Office (Invest in Sharjah); and Fahad Al Gergawi, Chief Executive Officer of the Dubai Investment Development Agency (FDI). During the meeting, the UAE and US discussed ways to develop prospects for cooperation, new strategies and directions; and intensify efforts and cooperation during the next stage to diversify and develop trade exchanges and increase the volume of mutual investments. These discussions focused on the sectors of infrastructure, healthcare, manufacturing, artificial intelligence, agricultural technology, and clean and renewable energy. Bin Touq briefed the Council on the developments in the UAE’s economic environment during the past stage, including the ‘Projects of the 50,’ new economic legislation and qualitative initiatives launched by the country. These initiatives are aimed at aiding the UAE’s transition into a new knowledge-based economic model that is flexible, competitive and sustainable, and embraces talent and pioneering projects. He pointed out that the modernization of the economic system ensures the generation of new and promising incentives and opportunities for investments and partnership with various global markets, particularly American companies. In addition, Bin Touq reviewed the UAE’s efforts in dealing with the economic impact of the Covid-19 pandemic, accelerating the pace of economic recovery, supporting and resuming business activities in various sectors. These were achieved through the adoption of a systematic response and integrated plans based on the principles of proactivity, long-term development and enhancing productivity. He also presented the indicators and positive results achieved by the country in this regard. Bin Touq said: "The pioneering and fundamental measures taken by the UAE to enhance its current and future position as a preferred destination for business and investments add further value to its position as one of the most vibrant and dynamic trade and investment hubs regionally and globally." He then noted that such unique economic developments in the region open up promising opportunities and prospects for American companies to establish their presence in the UAE and make it the base for their operations and activities across the region, and to access key markets in Asia and Africa. Furthermore, he reviewed the most prominent measures and efforts adopted by the country in this regard, including the amendments to the Commercial Companies Law to allow 100% foreign ownership of projects and investments, the developments in the residency system that now provide many and easy options for living, working, investing in and visiting the UAE, and