Page 340 - MOE ENGLISH PR REPORT - JANUARY 2025

Raw Materials: Fueling the Circular Economy," held at the 55th Annual Meeting of the World
Economic Forum (Davos 2025), themed ‘Collaboration for the Intelligent Age.’

At the session, bin Touq emphasised how the UAE has cemented its strategic position in the
circular economy. He added that the country's proactive initiatives and strategies have significantly
contributed to the global efforts in addressing environmental challenges, cutting carbon emissions,
and reducing waste, aligning with the objectives of sustainable development.

He pointed out that the UAE was among the first countries to sign the ‘Scale360°’ initiative in a
strategic partnership with the World Economic Forum.
During the session, participants delved into the opportunities and challenges in acquiring plastic
waste and converting it into recyclable raw materials.

Discussions also focused on the adoption of advanced recycling technologies and business
strategies to secure a steady flow of raw materials while ensuring environmental protection.

Moreover, the session examined ways to craft policies that strike an optimal balance between
environmental safety and development.
Bin Touq said, “Accelerating the shift towards a circular economy model is paramount for achieving
sustainable economic and social development in the UAE. It paves the way for a brighter future for
both current and future generations and supports the country’s aspirations to become the most
prosperous society globally by the next decade, in line with the ‘We the UAE 2031’ vision.”

He also provided an overview of the UAE's journey in developing a comprehensive circular economy
ecosystem in line with international best practices.

A key component is the 'UAE Circular Economy Agenda 2031,' which serves as a national roadmap
that fosters cooperation, driving transformative environmental practices and promoting sustainable
approaches to production and consumption. Additionally, it aims to encourage investments in
natural resources.

Bin Touq continued, "The agenda encompasses the implementation of 22 circular economy
policies in four crucial sectors: manufacturing, food, infrastructure, and transportation. These
policies are designed to embrace advanced recycling technologies, achieve significant economic
returns for the country, ensure a stable supply of raw materials, boost competitive edge, drive
innovation, promote economic growth, and create job opportunities through sustainable
partnerships with the private sector.

Furthermore, bin Touq encouraged the participants to leverage the investment opportunities
offered by circular economy and called on them to establish sustainable initiatives in the UAE,
leveraging the country’s advanced infrastructure in this field.

Bin Touq explained that climate change and global economic shifts call for the adoption of circular
economic models to reduce constraints on environment and natural resources. This involves
increasing awareness and building the capacities of key stakeholders in technologies,
methodologies, and business models that promote a circular economy. These initiatives play a vital
role in preserving natural resources, improving consumption efficiency and reducing waste.

https://www.wam.ae/en/article/bhu277s-minister-economy-highlights-investment-potential