Dubai’s Success Accelerates Global Cleantech Adoption

Press release
Published April 1st, 2018 - 07:42 GMT
Bryan Buggey, Director, Strategic Initiatives and Sector Development, Vancouver Economic Commission, receiving a copy of the ‘Father of our Nation’ from Fahad Al Gergawi, CEO, Dubai FDI.
Bryan Buggey, Director, Strategic Initiatives and Sector Development, Vancouver Economic Commission, receiving a copy of the ‘Father of our Nation’ from Fahad Al Gergawi, CEO, Dubai FDI.

Dubai Investment Development Agency (Dubai FDI), an agency of the Department of Economic Development (DED), and Dubai Science Park (DSP), the holistic science-focused business community, joined hands to promote current and emerging investment opportunities in Dubai at the GLOBE Forum and Innovation Expo 2018 held in Vancouver, Canada, 14-16March 2018.

The GLOBE Forum 2018, North America’s largest and longest-running international Leadership Summit on Sustainable Business, featured a dedicated  session titled ‘DUBAI ADVANTAGE: From Future to Reality,’ where Fahad Al Gergawi, CEO, Dubai FDI, and Marwan Abdulaziz Janahi, Executive Director, Dubai Science Park, highlighted how Dubai's commitment to a smart and sustainable future has transformed the city into a global innovation hub, supported by continued government investment in physical, digital and soft infrastructure, the EXPO 2020 Dubai and accelerated adoption of disruptive technologies, making Dubai the perfect location for foreign companies with equally ambitious expansion or innovative start-up plans.

Commenting on the progress of the Cleantech sector in Dubai, Al Gergawi said: “Dubai’s successful transition to a green economy has transformed business and created new investment opportunities for the global cleantech sector, accelerating adoption of such technologiesacross key industries from renewable energy and transportation to energy efficiency and waste management.”

Al Gergawi added: “The global cleantech sector is currently worth AED 3.29 trillion and is expected to grow at a rate of 3% annually according to the latest GLOBE Capital report. With over AED 50 billion committed to solar energy alone, new infrastructure projects pipeline and regulatory commitment, green buildings and energy and water efficiency, Dubai is set to be a global leader in cleantech adoption and acceleration”.

Marwan Abdulaziz Janahi, Executive Director of Dubai Science Park, and Chairing Member of the Pharmaceuticals and Medical Equipment taskforce of the Dubai Industrial Strategy 2030, said, “The cleantech sector is of strategic importance to Dubai. It is encouraging to note that the emirate has lately achieved a record low price for solar energy generation, making the technology more viable than ever before as an alternative to traditional sources of energy. Favourable policies, a surge in investments and a strong emphasis on building synergies through public-private partnerships facilitate the transition to a green economy. The cleantech industry plays a crucial role in driving the sustainable development of Dubai and in improving the lives of its residents through using resources efficiently and reducing carbon emissions.”

Bryan Buggey, Director, Strategic Initiatives and Sector Development, Vancouver Economic Commission, moderated the ‘DUBAI ADVANTAGE: From Future to Reality’ session. He praised the vision of the UAE leadership and its remarkable initiatives to enable youth participation and adoption of new and disruptive technologies.  “The UAE is Canada’s largest export market in the Middle East and North Africa and where Canadian companies have great opportunities to contribute and create a sustainable future globally. We are proud that investors from both countries are a global example of industry leadership and impact,” he added.

GLOBE Forum and Innovation EXPO brought together over 10,000 participants from over 50 countries in 2018. The Innovation EXPO showcased cleantech clusters – Sustainable Mobility and Advanced Materials & Manufacturing and some of the top proprietary technologies in the world. Dubai FDI has established a ‘Spotlight on Dubai’ session as a regular feature of the GLOBE Forum programme over the years to demonstrate Dubai’s green economy strategies and update the Canadian and International business communities about Dubai’s advantage as a smart and sustainable city of the future, a gateway to regional growth markets and a global business hub.

Dubai FDI and Dubai Science Park work jointly to facilitate and support cleantech companies set up and grow while providing a growth and expansion platform for knowledge-based, innovation-driven and sustainable industrial activities in Dubai.

Background Information

Dubai Science Park

Dubai Science Park (DSP) is the region’s first freezone community that serves the entire value chain of the science sector, dedicated to supporting scientific Entrepreneurs, SMEs and multinational enterprises.

Department of Economic Development

The Department of Economic Development (DED) is the government body entrusted to set and drive the economic agenda of the emirate of Dubai, UAE. The DED supports the structural transformation of Dubai into a diversified, innovative service-based economy that aims to improve the business environment and accelerate productivity growth.

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