The investment in renewable energy and its relevance to innovation and leadership will be the highlight of a conference in Abu Dhabi, UAE.

 

The 17th Arab Investors and Businessmen Conference (ABIC) will take place on November 16 and 17 at the Jumeirah at Etihad Towers.

 

The conference will also host dedicated seminars on the smart transformation in the government sector. Moreover, it will assess the potential of implementing this transformation across the Arab world, said a statement.

 

This is a highly relevant topic as the UAE has shifted focus to investing in renewable and clean energy to become among the first countries to allocate high investments in this area, it said.

 

The UAE managed to outperform major countries, and it now occupies a leading position in the renewable energy industries through a number of pilot projects. It has also contributed to investments in other projects in different parts of the world.

 

Sultan bin Saeed Al Mansoori, UAE Minister of Economy and chairman of the conference, said: “We are working to increase the contribution of non-oil sectors to 80% by 2021.

 

“We are strengthening the contribution of industry, tourism, services, trade, re-export and SMEs sectors. In addition, we promote a transition towards knowledge-based economy that is based on the creativity and innovation. Our current major investments fall under renewable energy, and we would like to share our experience in this domain with the conference’s participants.”

 

The UAE has set a target to reach knowledge-based economy that is based on innovation. It seeks to exchange investments with Arab countries, especially with regard to the areas of advanced technology, and Research and Development (R&D) in renewable energy.

 

“The UAE’s investments in renewable energy are an ideal complement to the development in infrastructure and other sectors of investment. The UAE Government directed huge investments to this sector to speed up its development. Thus, it is in a strong position to face the global uncertainties,” added Al Mansoori.

 

As part of its quest to become one of the best countries in the world by 2021, the UAE is focusing on entrepreneurship, SMEs and innovation. It has also achieved dramatic smart transformation in government services.

 

The conference will provide opportunities for effective partnerships that pave the way for diversified economy. - TradeArabia News Service