Emirates Investment Authority also restructured during Cabinet meeting
Abu Dhabi: 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 include national strategies to reduce carbon footprint and regulate the use of solar power products, as well as sustainable tourism, among others.
The initiatives were approved at 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, with Sheikh Mansour bin Zayed Al Nahyan, Vice President and Deputy Prime Minister of UAE, and Minister of the Presidential Court, as its chairman.
The meeting also reviewed the outcomes and achievements by the Emirates Council for Food Security (ECSF), which was launched to strengthen the efforts of national authorities to achieve food security, fulfilling the goals of the National Food Security Strategy.
The Cabinet also reviewed the outcomes of ECSF’s Agriculture Innovation Mission for Climate (AIM for Climate), a joint initiative by the UAE and the US, which was launched to address climate change and global hunger by uniting participants to significantly increase investment in, and rally support for climate-smart agriculture and food systems innovation over five years (2021 – 2025).
The meeting also touched on the establishment of the Global Platform for Food Innovation Hubs in collaboration with the World Economic Forum, as well as the Food Tech Valley, which was launched in 2021 to explore urban planning of future smart and food independent cities.
The UAE agenda for developing service exports was also approved during the meeting. The agenda focuses on education, medical tourism, traditional and Islamic financial services. As per the agenda, the Ministry of Economy will build international partnerships and develop programmes that support the exports of UAE companies internationally.
The Vice-President also approved the launch of ‘Darak’ platform, which aims to provide banking solutions and exclusive offers for Emirati citizens while building their houses.
Through the Darak platform, citizens will get the same facilities given to government bodies during the construction, thus reducing costs and improving the quality.