Dubai, Turin team up for sustainable business development

Published on 09 Nov, 2016

For more analysis, Gulf News Journal turned to Apoorva Patil, research analyst of investment research and analytics at research firm Aranca.

“Under the UAE Vision 2021, the country endorsed the target of increasing the contribution of clean energy sources to the total energy mix to 24 percent by 2021, from less than 1 percent in 2015,” Patil said. “This target was recently raised to 27 percent, which underlines the UAE’s commitment to enhance its competitiveness as a green, sustainable and low-carbon economy.”

The MoU, Patil said, is not the first of its kind.

“The Dubai government has laid clear emphasis on partnerships with international entities and collaborations across the private-public-academic landscape,” he said, citing previous agreements. “The MoU with Turin is part of expanding the collaborative approach Dubai has taken in developing and meeting the green economy objectives. Over the past few years, Turin has greatly improved its status as a ‘smart energy city.’ Moreover, the city is an aerospace hub, with several large enterprises, SMEs, universities and R&D centers offering various scientific contributions. The MoU is a good platform for the UAE to promote green economy developments by leveraging Italy’s expertise in this domain.”

As for American involvement, Patil said Dubai is also reaching out to California, a state with its own sizable economy and a green leader in the U.S.

“Dubai GEP had previously signed MoU with Cleantech San Diego in California to promote trade and investment in innovative green technologies,” he said. “Engaging with global leaders in green technologies should pave way for greater trade prospects and FDI into the UAE.”