UAE approves 78 eco-friendly initiatives for COP28 summit
MANSOUR APPOINTED CHAIRMAN OF EMIRATES INVESTMENT AUTHORITY
The UAE has approved 78 eco-friendly projects and initiatives in preparation for COP28, which will take place at Expo City Dubai in November.
These include national strategies to reduce carbon footprint and regulate the use of solar power products, as well as sustainable tourism, among others. The initiatives were approved at a Cabinet meeting chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, VicePresident and Prime Minister of the UAE and Ruler of Dubai, in Abu Dhabi yesterday.
Restructuring of Emirates Investment Authority
During the meeting, the Vice-President also approved the restructuring of the Emirates Investment Authority (EIA), with Shaikh Mansour Bin Zayed Al Nahyan, Vice-President and Deputy Prime Minister of UAE, and Minister of the Presidential Court, as its chairman.
Food security
The meeting also reviewed the outcomes and achievements by the Emirates Council for Food Security (ECSF), which was launched to strengthen the efforts of national authorities to achieve food security, fulfilling the goals of the National Food Security Strategy. It also reviewed the outcomes of ECSF’s Agriculture Innovation Mission for Climate (AIM for Climate), a joint initiative by the UAE and the US, which was launched to address climate change and global hunger.
Non-oil foreign trade
His Highness noted: “We reviewed during the meeting the UAE Foreign Trade Report 2022 where our non-oil foreign trade crossed the AED 2 trillion mark for the first time in history.”
Service exports
The UAE agenda for developing service exports was also approved during the meeting. The agenda focuses on five main sectors, including education; medical tourism; Islamic financial services. As per the agenda, the Ministry of Economy will build international partnerships and develop programmes that support the exports of UAE companies internationally.
The Cabinet also approved the launch of ‘Darak’ platform, which aims to provide banking solutions and exclusive offers for Emirati citizens while building their houses.
The Cabinet also approved the new educational model for the Higher Colleges of Technology, which will come into effect at the beginning of the academic year 2023/2024. The new model aims at enhancing the contribution of Higher Colleges of Technology to leading an effective role within the workforce development system in the country.