Dubai: H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai, emphasized the pivotal role of the emirate's trade sector in its economic progress and global influence. He highlighted the trade sector's significance in driving diversification, innovation, and economic resilience amid a competitive global marketplace.
According to Emirates News Agency, Sheikh Hamdan's remarks were made during a meeting with businessmen, traders, and investors at Za'abeel Majlis in Dubai. The meeting underscored the robust performance of the trade sector, which aligns with the vision and strategies of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai. This vision is encapsulated in the Dubai Economic Agenda D33, which aims to double the emirate's foreign trade to AED25.6 trillion and add 400 cities as trading partners by 2033.
Sheikh Hamdan reiterated Dubai's commitment to diversifying income sources, with trade as a central component. He emphasized the importance of fostering trade growth through strong private sector partnerships and enhancing trade-enabling infrastructure. This includes aligning legislative frameworks with international standards and leveraging digital transformation and technology to boost trade efficiency.
The Crown Prince expressed confidence in Dubai's strategic vision, sound planning, and innovation, which drive its ability to achieve unprecedented growth levels. He noted that the trade sector significantly contributes to job creation, competitiveness, market access, and business growth opportunities. Dubai is committed to empowering its partners with the necessary tools and resources to explore emerging markets and reinforce its position as a premier global trade gateway.
The gathering also featured a presentation by Ben Nowack, Co-Founder and CEO of Reflect Orbital, on advancements in space-based solar energy solutions. Nowack highlighted Reflect Orbital's innovative approach to providing sunlight from orbit to solar farms and lighting applications post-sunset, using a constellation of in-space reflectors. This technology aims to extend solar energy's availability beyond daylight hours.
Nowack emphasized the potential of harnessing sunlight to improve energy resources and living standards, citing significant investments in space transportation and the rapid growth of solar energy technology. Reflect Orbital's first satellite is designed to offer nighttime illumination over extensive areas, showcasing the transformative potential of this approach.