The Water, Energy, Technology, and Environment Exhibition (WETEX) along with the Dubai Solar Show (DSS) serves as a platform to showcase the UAE’s commitment to a sustainable circular economy. It fosters international collaborations and investments to drive innovation and the adoption of sustainable solutions and technologies within this crucial sector.
These efforts lead to the reduction of risks, greenhouse gas emissions, and expenses. Moreover, they open up promising prospects, fresh revenue streams, and productive business models, all aimed at enhancing the efficiency and efficacy of resource utilization.
This initiative boosts competitiveness and sustainable economic progress both within the UAE and globally, all while safeguarding the environment and promoting sustainable practices, according to WAM.
The event is organized under the guidance of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, and with the endorsement of H.H. Sheikh Ahmed bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy. The Dubai Electricity and Water Authority (DEWA) is responsible for its execution.
According to research by Accenture, the adoption of a circular economy model could contribute an additional $4.5T in economic output by 2030. The International Labour Organisation also predicts that transitioning to a circular economy has the potential to generate approximately six million new jobs worldwide.
Boosting Competitiveness and Economic Progress
Abdullah bin Touq Al Marri, Minister of Economy, said, “The UAE government has a bold vision to promote economic diversification in strategic areas that best serve our sustainable development path. The circular economy and renewable energy sources will be a cornerstone of our economy in the next 50 years. Moreover, as we prepare to host the United Nations Framework Convention on Climate Change (COP 28), the UAE is stepping up its ambition to fulfil its commitment under the Paris Agreement of reaching net-zero greenhouse gas emissions by 2050 and the circular economy policy will make a critical contribution towards this national objective.”
“For the past year, the circular economy policy has been working to broadly serve the national sustainability objectives and the economy. In line with the mandate to support the national efforts to implement the circular economy policy, such as evaluating the challenges facing the implementation of the circular economy; proposing appropriate policies; and accelerating the transition towards an improved economic model, the Circular Economy Council and its Policies Committee have made, and continue to make, important progress towards the implementation of the policies in collaboration with our partners in the private sector and civil society,” Bin Touq added.
“WETEX and DSS supports the UAE’s endeavours to achieve sustainable management and effective use of natural resources by encouraging investments in the circular economy, expanding the scope of current applications, and introducing the best global practices in this field. It provides a platform for positive changes achieved by the circular economy to improve the business environment, attract local and foreign investments, and develop the circular economy system in all vital sectors, in cooperation with public and private sectors,” said Saeed Mohammed Al Tayer, MD and CEO of DEWA, Founder and Chairman of WETEX and DSS.
Economic Potential of Circular Economy
“These include green infrastructure, sustainable transportation, sustainable manufacturing, sustainable food production and consumption. As the largest exhibition of its kind in the region and one of the most prominent international exhibitions in water, energy, electricity, environment, oil, gas, renewable energy, and environmental sustainability, the exhibition provides an integrated platform for thousands of companies and organisations working in energy, water, environment, technology, green mobility, waste management and recycling to showcase their latest products and solutions.”
“The sessions also focus on the circular economy and the importance of integrating its principles into various aspects of the economic value chain, in addition to ways to design our current systems worldwide to ensure a comprehensive and smooth transition from the traditional linear to the circular economy model. The circular economy is vital to the UAE’s efforts to decarbonise different industries. This will accelerate our efforts to achieve net zero by 2050,” Al Tayer concluded.
For his part, Omar Al Suwaidi, Under-Secretary of the Ministry of Industry and Advanced Technology (MoIAT), said, “The UAE’s National Strategy for Industry and Advanced Technology aims to develop the industrial sector, boost entrepreneurship, and promote investment in manufacturing. Large-scale events such as WETEX provide a platform for showcasing innovations, entrepreneurial projects, and an opportunity for startups to connect with potential partners and investors to enhance the sector’s competitiveness through manufacturing projects. Our Ministry continuously strives to bolster partnerships and collaboration with entities and events that contribute to the objectives of the ‘Make it in the Emirates’ initiative.”
“In line with enhancing the competitiveness of the industrial sector and establishing the UAE as a global hub for industry and innovation, MoIAT’s mandate is to transform existing sectors by encouraging and facilitating the adoption of advanced technologies to achieve sustainability and move towards a circular economy,” Al Suwaidi added.
