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 initiatives include national strategies to reduce carbon footprint, regulate the use of solar power products, and promote sustainable tourism, among others. The approvals were made during a Cabinet meeting chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Wednesday.
During the meeting, the Vice-President also approved the restructuring of the Emirates Investment Authority. Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of UAE, and Minister of the Presidential Court, was appointed as its chairman. This restructuring aims to enhance the functioning of the Emirates Investment Authority.
The Cabinet meeting also reviewed the outcomes and achievements of the Emirates Council for Food Security (ECSF). The ECSF was launched to strengthen the efforts of national authorities in achieving food security and fulfilling the goals of the National Food Security Strategy. Additionally, the meeting discussed the Agriculture Innovation Mission for Climate (AIM for Climate), a joint initiative by the UAE and the US, which focuses on addressing climate change and global hunger through increased investment and support for climate-smart agriculture and food systems innovation.
Furthermore, the meeting touched upon the establishment of the Global Platform for Food Innovation Hubs in collaboration with the World Economic Forum. This platform aims to foster innovation in the food sector. The meeting also highlighted the Food Tech Valley, launched in 2021, which explores urban planning for future smart and food-independent cities.
In addition to these discussions, the Cabinet approved the UAE’s agenda for developing service exports. The agenda focuses on areas such as education, medical tourism, and traditional and Islamic financial services. The Ministry of Economy will play a pivotal role in building international partnerships and developing programs that support the exports of UAE companies globally.
Lastly, the Vice-President approved the launch of the ‘Darak’ platform. This platform aims to provide banking solutions and exclusive offers for Emirati citizens during the construction of their houses. By providing similar facilities as those offered to government bodies, the platform seeks to reduce costs and enhance the quality of housing construction.