A smart future: Dubai’s annual investment meeting aims for sustainable growth

The Annual Dubai Investment Meeting (AIM) is an initiative of the UAE Ministry of Finance to provide a forum for global exchange on international investment and growth policies. The platform aspires to drive positive transformation by creating investment opportunities.

The eleventh edition of AIM was opened by Abdullah bin Touq Al Marri, Minister of Economy of the United Arab Emirates, who presented the program.

“The AIM Framework (was) created specifically to promote global sharing of key principles that underpin investments, movements and trends to drive smart and inclusive global growth,” he said.

This year’s theme was Investing in Sustainable Innovation for a Prosperous Future. Organizers said this translates into foreign direct investment, portfolio investment, SMEs and start-ups and the future of cities.

Dawood Al Shezawi, chairman of the organizing committee of the annual investment meeting, said countries come together to promote their foreign direct investment and promote their entrepreneurs.

Over 174 countries took part in a three-day event held at the Dubai Exhibition Center at Expo 2020

Ana Draskovic is director of the European Bank for Reconstruction and Development. He participated in a panel on sustainability.

“One of the messages that’s also quite interesting is that sustainability is no longer a cost to business. It’s actually a fantastic business opportunity. It’s a whole new asset class, and something that everyone should be aware.” “, said.

In addition to focusing on attracting new investment, AIM has set a program for the coming year with the aim of developing youth entrepreneurship and more cities of the future.

During AIM, organizers revealed that companies attending the event expressed enthusiasm to continue acquiring and adopting new technologies that help propel operations into the future.

deep relationships

On the other hand, the UAE is home to thousands of Irish expats and trade between the two countries is on the rise. Ireland’s exports to the UAE grew by 12% in 2020, and now, with Ireland reopening, they expect tourists from the region to return.

Irish tourism chief executive Niall Gibbons said the relationship between the two nations was very special.

“It goes back decades. There are very important Irish people who came here in the 70s.” Colm McLoughlin – Dubai Duty Free. Gerald Lawless of Jumeirah. And, to this day, they keep coming and going, and now there’s a huge Irish community here,” he said.

Over a decade ago the decision was made to establish a Tourism Ireland presence in the United Arab Emirates to nurture this connection.

“It’s fantastic because connectivity has been established with Emirates, with Etihad, and we’re seeing a lot of people from that region visiting Ireland, and from a tourism point of view it’s going well,” said added Niall Gibbons.

For Tourism Ireland, the region is key to market diversification and the sector relies heavily on British and North American tourists.

“It’s an important part of the world from Emirates’ point of view, but also from ours. With Emirates connected to over 200 destinations around the world and Etihad well connected as well, it gives us a great gateway to ‘here but also to other markets like India, China, Australia, New Zealand and obviously COVID has come in and is having a huge impact on the industry. But now it’s about to get back to tourism,” Irish tourism chief executive Niall Gibbons said.

On the other hand, as the Annual Investment Meeting addresses the challenges of sustainability and innovation at the government level, some individuals are looking for solutions on their own.

In Australia, most people depend on local governments and private companies for access to water and electricity, but some are turning to off-grid options in hopes of becoming self-sufficient.

About twenty-five years ago, Michael Mobbs became independent. Este especialista en proyectos sostenibles dice que fue por dos razones: “Me dijeron que no se podía hacer eso. Así que, como un niño, quise hacerlo. Y en segundo lugar, tengo el instinto de que tenemos que mostrar todo el amor que podamos To the earth”.

Her house has underground tanks that collect unfiltered rainwater for reuse. The collected rain passes through filters and pipes and reaches the reservoirs. Then, when the house needs it, it is sterilized with an ultraviolet lamp to kill viruses and pathogens.

Dr Alejandro Montoya, director of the School of Chemical and Biomolecular Engineering at the University of Sydney, said recycling water is becoming very important due to the scarcity of clean water in some areas.

“Climate change is affecting the water supply, so we will reach a point where we will need a clean, sustained flow of water for a growing population on this planet,” he said.

In 1996, Michael Mobbs installed 18 solar panels on his roof, to which he later added 12, bringing the total electrical capacity to three point five kilowatts. In 2015, he went further and disconnected his house from the electricity grid. Getting off the grid makes environmental sense, but it may not work financially.

Gregor Verbic, Associate Professor at the Center for Future Energy Networks at the University of Sydney: “If you compare the two solutions. Everyone is self-sufficient compared to everyone who has, say, rooftop solar or a battery in the garage, but still connected to mains for reliability reasons. Which option is cheaper? And it’s pretty obvious that continuing to use mains in Sydney and other major cities, other populated areas , is always cheaper.” said.

For Gregor Verbic, the future of electricity lies in renewable energies. But it will mean changing the way we consume it and pay for it.

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