Dubai Energy Strategy 2030

by Zaara 10, Feb 2021

Many people recognize Dubai as a truly eye-candy travel destination lined with skyscrapers and quirky-shaped attractions, and let's not forget the many spectacles one can experience when visiting the various tourist attractions. The alpha emirate of the UAE has always been the frontrunner in accepting modern methods of cohabitation and civilization. 

Only those who actively follow nations working on sustainable futuristic development will recognize the Dubai energy strategy 2030 as one of the most advanced strategies to promote the use of renewable sources of energy.

What Is the Goal of DIES 2030?

The Dubai Integrated Energy Strategy (DIES) 2030 is dedicated to stabilizing the energy consumption capacity in Dubai and creating a trajectory toward renewable sources of energy. The core focus of DIES 2030 is to provide an uninterrupted energy supply to commercial, business, and residential areas using renewable energy sources such as solar power, wind energy, and hydroelectric power. 

The objective is to moderate the growing demand for energy and water in Dubai to ensure that sustainability standards are met. With rapid changes taking place in the world, ranging from melting glaciers due to climate change or high pollution levels due to emissions from industrial areas, Dubai aims to create space for new thinking to influence and change perspectives. 

This is an initiative towards a sustainable clean, and green economy with reduced pollution levels and increased recycling initiatives to prevent the depletion of natural resources. The government also foresees the need to make energy available to the citizens at lower prices through the use of renewable sources. 

Currently, many locations in Dubai, such as malls, office spaces, and others, are adopting ways to utilize solar energy to meet their needs for power consumption.

How DIES 2030 Will Benefit Businesses?

Dubai has been an active hub for business setup in the UAE ever since the emergence of the 21st century. The DIES 2030 initiative will reduce the dependency on fossil fuels and an oil-dominated economy, giving opportunities to new businesses. 

Eventually, the focus of the local investors will shift to the SME and Startup companies in Dubai due to encouragement from the government. This will be a small step in a positive direction to form a diverse economy. 

Because of reduced prices for power and various planned government subsidies, many startup ventures in Dubai will be benefitted, motivating them to expand the scalability of their business operations. Not only is it beneficial for small businesses but also for established companies and multinational corporations as well. 

These larger business entities can also enjoy several benefits from the energy-saving strategy as the prime business locations, such as the Dubai International Finance Centre (DIFC), will be powered efficiently and connected to the global business network 24/7.  With the government investing billions in initiatives to make Dubai a tier 1 Smart City, the business opportunities in Dubai are many.

The Dubai Industrial Strategy 2030

The industrial strategy was initiated by the Vice President and Prime Minister of the UAE, Mohammed Bin Rashid Al Maktoum, who holds visionary leadership. When it comes to industry experts in different business areas such as finance, transportation, real estate, construction, and manufacturing, the key objective is to create a world-class economy, which lays the foundation for almost 90 percent of its GDP. 

The entire business model has been eased to drive out different innovation techniques and boost thought leadership based on technology. It also has a vision of being a global forum for knowledge-based and innovative sectors.

Objectives of the Dubai Industrial Strategy 2030

The main goals of the 2030 Industrial Strategy include the following:

  • Growth Engine: to take advantage of the overall GDP and value-added output
  • Stimulating innovation: promoting new strategies and enhancing awareness
  • A Global Business Platform: to shape Dubai as a global center for business activities
  • Environmentally Sustainable: embracing ecologically responsible production practices, reducing electricity use, and facilitating green economy initiatives.

The goals for leveraging the growth of a set of industries have been set. The following sectors for a business setup in Dubai have been taken into account:

  • Aerospace
  • Maritime Industry
  • Aluminium & Fabricated Metals
  • Pharmaceuticals
  • Food & Beverages
  • Machinery and Equipment.

Performance Indicators

Industrial Strategy 2030 will affect various fields. Below highlighted are some of the outcomes:

  • An estimated AED 18 billion in real value-added in Production
  • An outline of the job prospects of almost 27,000 will be developed.
  • The export industry will get enhanced by AED 16 billion.
  • An expenditure of AED 700 million will be directed toward Research and Development.

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FAQs

What is the vision behind DIES 2030 (Dubai Integrated Energy Strategy)?

The vision of DIES 2030 is to make Dubai a global leader in renewable energy and the green economy.

What are the main pillars taken under the initiative of DIES 2030?

  • Infrastructure
  • Legislation
  • Funding
  • building capacities and skills
  • Environment-friendly energy mix.

What is the funding strategy for DIES 2030?

The funding strategy involves the development of a $100 billion Dubai Green Fund, which will provide investors in the clean energy sector in the emirate with low-interest loans through its financial resources

How DIES 2030 will impact the environment?

Dubai will become an environment-friendly nation consisting of solar energy, nuclear power, clean coal and gas by 2030 under the initiatives taken by DIES.

When was DIES 2030 announced?

DIES 2030 was declared in November 2015.