Dubai Chamber: "Space Economy" opens the way for 10 investment fields
The Dubai Chamber of Commerce and Industry revealed that preparing for the next fifty years requires keeping pace with ambitious visions, and investing in the future economy, which forms a pillar for a next stage of achievement, noting that the space economy is an essential part of the future economy that the United Arab Emirates is building according to a clear and ambitious vision after its entry Space club recently.
In a study launched by the Dubai Chamber of Commerce and Industry under the title "Space Economy and Investment Opportunities", the study sheds light on 10 different areas in the space economy that should be focused on in the UAE to advance this sector and meet its future requirements.
These areas included space mining, space stations, space settlements, space law, sustainability in space and recycling, space tourism, space companies, and space academies that include preparing astronauts for commercial flights, space industries, and developing and manufacturing spacecraft components.
The study aimed to explore prospects for opportunities in the future economy, in which space is one of its pillars, especially after the UAE's access to the International Space Station and the launch of the Hope Probe to Mars, so that the UAE takes a giant step towards establishing its position as a destination for future economic sectors, and a global center for space research and investment.
The UAE has one of the most diverse and flexible economies in the world, led by a wise leadership with an ambitious vision for the future embodied in many tangible achievements that have made exceptional leaps at the level of the national economy, as space witnesses a global race towards pioneering technology in space industries, especially in the fields of satellites. Industrial, spacecraft and space flight launches.
The Director of Entrepreneurship at the Dubai Chamber, Natalia Sheva, said that the space economy is diversified and has vast horizons, and provides limitless investment opportunities, noting that the UAE, thanks to its long-term advanced vision, great ambition and potential, is able to take advantage of these opportunities in becoming a global destination for many One of the fields of space economy, and its position as a center for the future economy, considering that identifying space investment areas may help investors set their priorities for investment in the future.
The report indicated that there are two new trends that have emerged during the past decade in the relationship between the government and the private sector with regard to the space economy, the first of which is to accelerate the partnership between the public and private sectors, and secondly, that the race towards space in the past was a race between countries, as it has turned today into a race between millionaires.
The report also sheds light on the boom in private sector investments in space industries, whose growth rate in 2019 reached 6%, while the rate of government investment did not exceed 1%, and indicated that most of the emerging companies in the space sector are now growing in incubators funded by governments such as The NASA Research Park Space Research Center, the Harwell Space Research Park in the United Kingdom, and the Global Space Business Accelerator Initiative in the United Arab Emirates.
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