UAE plans to develop policies that will promote space investment. - File photo
Abu Dhabi - As part of National Space Strategy 2030, the UAE seeks to be one of the most pioneering countries in the field of space.
Published: Wed 30 Sep 2020, 10:32 PM
The UAE has ambitious space plans and aims to achieve goals by implementation of 71 initiatives over the next 10 years, top officials from the UAE Space Agency said.
As part of National Space Strategy 2030, the UAE seeks to be one of the most pioneering countries in the field of space by focusing on areas of expertise, space services, local capacities and technologies, manufacturing, R&D, partnership, investments and a regulatory framework to realise the goals.
Fatima Al Shamsi, space policies specialist at the UAE Space Agency, said the country strives to achieve its targets in the next 10 years through 71 initiatives.
"One of the main focus will be on enhancing partnerships with the entities working in the space sector and others. Increasing financial support and investment. We will develop policies to promote space investment. We will have plans to promote and support campaigns," Al Shamsi said during a panel discussion held during the Global Aerospace Summit on Tuesday.
She noted that many of the 71 initiatives will be implemented shortly.
"We will promote innovation and entrepreneurship in the space sector. We will focus on developing local expertise and attracting pioneering organisations whether the ones that are existing in the UAE as well as the international ones to come to the UAE," she added.
"We will ensure success of the implementation with several tools. The main focus is active stakeholder involvement and cooperation. So far in 2020, we have 30 entities, we are working closely with them to expand their horizon on what could be their contribution with regards to the sustainable growth in the space industry."
'UAE best for space investment'
The UAE has invested $6 billion in space activities. And Dr Mohamed Nasser Al Ahbabi, director-general, at the UAE Space Agency, said the country offers the best environment for
space investment.
Under the National Plan for the Promotion of Space Investment, the UAE Space Agency is working with a number of entities to facilitate and activate space investment.
"This is not only in the UAE but we engage with international companies. We believe that we have the best environment for space investment," Dr Al Ahbabi said during the Global Aerospace Summit.
"We are focused on contributing to the space economy," Dr Al Ahbabi said and added: "Space is a tool for aspiration, a platform for innovation and a model for cooperation."
Meanwhile, Naser Al Rashedi, Director of Space Policy and Regulations, UAE Space Agency, pointed out the trend of more countries and investors, not just from the US, showing interest in space exploration.
"This shows a global trend of investing in space and startups."
He noted that New Space - the recent commercialisation of the space sector - is rapidly growing.
"International reports show that between now and 2030, it's almost expected to double the amount of the space economy."
Morgan Stanley estimates that the global space industry could generate revenue of more than $1 trillion or more in 2040, up from $350 billion, currently. - ashwani@khaleejtimes.com
Ashwani Kumar
Ashwani Kumar is a versatile journalist who explores every beat in Abu Dhabi with an insatiable curiosity. He loves uncovering stories that are informative and help readers form their own opinions.
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