Page 39 - MOE ENGLISH PR REPORT- NOVEMBER 2024

Press Release

H.E. Bin Touq holds meeting with Peec Mobility to learn about the

company’s plans for UAE market & contributions to advancing
sustainable transportation

Minister of Economy highlights UAE’s continuing efforts to advance the
transition to circular economy

Abu Dhabi, 20 November 2024:

His Excellency Abdulla bin Touq Al Marri, Minister of Economy, held a meeting with Peec
Mobility officials to learn about the company’s future plans for the UAE market and their
contribution to promoting the circular economy and sustainable transportation. The meeting forms
part of the Ministry's broader strategy to enhance dialogue with the private sector as part of the
newly launched economic engagement initiative.

During the meeting, H.E. Bin Touq highlighted that the UAE, under the directives of its wise
leadership, places significant emphasis on advancing policies and initiatives that support the
transition to a circular economy in line with global best practices. A key initiative in this regard is
the "UAE Circular Economy Policy 2031," which recognizes the private sector as a key contributor
to the achievement of its goals. It focuses on embedding sustainable practices across key sectors,
including sustainable transport, manufacturing, food, and infrastructure, ensuring the country’s
resilience to climate change and supporting its broader economic and social development goals.

H.E. stated, "The ongoing transformation of the country's transportation systems into more
sustainable, eco-friendly models is a key aspect of our efforts to reduce fuel consumption and cut
carbon emissions. The meeting with Peec Mobility is a crucial step in strengthening cooperation
in circular economy practices and gaining insights into the latest advancements in the electric
vehicle sector. The meeting helped us explore ways to foster collaboration in the adoption of
innovative solutions that align with the nation’s goals of providing a wide range of smart and
sustainable transportation options, especially since it boasts an advanced infrastructure for electric
vehicles in the local market."
Mr. Ahmed Zachariah Faizal, CEO and Founder of Peec, said: "We’ve had a deep belief from the
day we started Peec that the UAE is the perfect place for an innovation like ours. There is a mutual
resonance with the idea that an economy isn’t just a representation of the country’s monetary value
but equally a symbol of the values of which its society lives by. To go beyond the desire to electrify