The British and UAE governments plan to increase investment in clean energy and advanced manufacturing, technology and infrastructure on the basis of the £1 billion partnership announced earlier in 2021 to invest in the UK’s life sciences sector to achieve "green The forefront of "revolution".

Lord Gerry Grimstone, Investment Minister of the UK’s Department of International Trade, at a webinar on the future of business and investment relations between the UK and the UAE, said that the two countries are studying "exciting energy" in the field of renewable energy. chance". Lord Grimstone told delegates attending the virtual conference hosted by the UAE Association and the UAE-UK Business Council: Our two countries are fully capable of complementing each other. He said that he is well aware that some "very exciting projects" are under review in the clean energy field, including hydrogen and carbon capture.

Lord Grimstone said that leading energy companies will hopefully be at the forefront of the green revolution, and future cooperation in this area will complement the UAE’s significant investment in the UK this year. According to the sovereign investment partnership signed between the two countries in March 2021, Abu Dhabi’s Mubadala Investment Company pledged to invest 800 million pounds in the life sciences sector in the next five years, and 200 million pounds will come from the UK's life science investment plan. Lord Grimstone said: Over the past year, we have been vigorously improving our bilateral trade and investment relations and identifying areas of common concern. Of course, after Covid-19, these areas have become more common, including life sciences and clean energy. , Advanced manufacturing and financial technology.

It is expected that the two countries will soon fulfill their financial commitments surrounding the sovereign investment partnership, and funds will also be invested in innovation-oriented fields such as energy transition and infrastructure. Lord Grimstone said that in March 2021, one of the world's largest and most active sovereign investment funds will make a vote of confidence in the UK's commitment to "the world's leading technology, energy, infrastructure and life sciences". He said that this investment strengthens the UK's "future innovation leading industry" and also "promotes closer business ties, which will benefit the economies of the UK and the UAE."

mutually beneficial

Lord Grimstone said: I have no doubt that this will highlight other exciting partnerships to help develop our trade and investment relationships. The growing relationship between the UAE and the United Kingdom comes at a critical moment when the UAE celebrates its 50th anniversary of unification and the opening of the 2020 Dubai World Expo on October 1. UAE Minister of State for Foreign Trade Dr. Tani Zeyudi said at the seminar that the United Kingdom is a long-term and trusted partner of the UAE, and the strong bilateral relationship between the two countries can be traced back to the birth of the UAE 50 years ago.

He said: This relationship, in fact, is a friendship, strengthened through close economic cooperation, strategic alliances, cultural celebrations of trade exchanges, and partnerships. More than 120,000 British people call the UAE home, and more than 6,000 British companies are registered in the UAE. As the UAE hopes to double its total economic output to AED 3 trillion by 2031, Dr Al Zeyoudi said the country is "particularly excited" about the possibilities in the life sciences sector and the renewable energy sector.

Dr. Zeyoudi said: The UAE believes that our relationship with the UK and other like-minded and export-oriented economies will be an important part of realizing this ambition, and the potential areas of cooperation between our two countries are constantly expanding. In the same year that it hosted the Cop26 Environmental Summit, the UK set the world's most ambitious climate change goal: reduce emissions by 68% by 2030 compared to 1990, by 78% by 2035, and achieve net zero emissions by 2050.

At the same time, the UAE has pledged to reduce greenhouse gas emissions by 23.5% by 2030, and the country’s National Energy and Climate Plan 2020 requires clean energy to account for half of the country’s total energy by 2050. Dr. Zeyoudi said that other areas of cooperation include environment, safety, logistics, education, scientific research and advanced technology, "These areas are in line with the economic renaissance of the UAE and the UK in the post-cosmic era." Dr. Zeyoudi said: In today’s increasingly complex and rapidly changing environment, the UAE has strengthened our role as one of the world’s leading business centers by strengthening global trade links and prioritizing our economy for future growth.

He said Mubadala’s £800 million investment in March proved the long-term nature of any investment agreement signed with DIT. The two ministers also praised the importance of the British Pavilion at Expo 2020 Dubai, which will host the next Joint Economic Committee on October 18th to demonstrate Britain’s expertise in artificial intelligence, technology and space. Lord Grimstone said: In the future, the United Kingdom and the UAE will have huge opportunities in this field. He added that the six-month business and innovation showcase will be an ideal opportunity for British and UAE companies to promote their services, products and innovations.

Lord Grimstone said that the recently concluded UK/GCC joint trade and investment review report also clearly outlined the trade and investment relations between the UK and the GCC member states, and made clear proposals for future cooperation. In order to deepen our trade in the long run.

Keywords: new energy, overseas engineering, international engineering construction, foreign engineering construction news

Lord Grimstone said: "This important review has definitely improved our understanding of our respective priorities and has begun to contribute to future free trade agreements with the Gulf Cooperation Council (GCC) and with individual countries (such as technology and artificial intelligence). Lay the foundation for negotiations.Editor/XuNing