Participants in the "Dubai Dialogue 2021" considered it the cornerstone of protecting the planet

$4.5 trillion expected revenue for the circular economy within 10 years

  • Participants discussed during the conference the opportunities and challenges of investing in the circular economy.

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  • Hamad Buamim: “Companies that adopt intelligent design for their operations will succeed in enhancing the life of their products.”

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Economists said that the circular economy is the cornerstone of an economy that grows and protects the planet, expecting that the circular economy will generate returns in economic benefits globally, amounting to 4.5 trillion dollars during the next decade, but they pointed out that only 10% of the global economy is considered an economy circularly, which provides promising investment opportunities for the future.

This came during the activities of the "Dubai Dialogue 2021" conference, organized by the Dubai Chamber, represented by its Business Ethics Center, at the headquarters of the "Expo 2020 Dubai", yesterday, under the title "Accelerating the Transition to a Circular Economy". The circular economy, and he reviewed the development of a road map to accelerate the transition to the circular economy as a fundamental pillar in economic recovery, as there are many economic and environmental benefits of the circular economy.

During the conference, experts stressed the importance of exploring the prospects, opportunities and capabilities of the circular economy, especially in the wake of the UAE’s adoption of the UAE’s circular economy policy, which is a comprehensive framework that defines the UAE’s directions to achieve sustainable management and effective use of natural resources, calling for the adoption of consumption and production methods and techniques to ensure the quality of life for generations. current and future, enhancing the efficiency of natural resource consumption and reducing waste.

The Director General of the Dubai Chamber, Hamad Buamim, said that the circular economy is a necessity to protect the environment, improve the integrity of the distribution network and supply raw materials, as well as enhance competitiveness, foster innovation, and stimulate sustainable economic growth.

Buamim pointed to the importance of adopting smart and sustainable ways to manage the operational processes of institutions, considering that they improve economic efficiency and reduce negative impacts on the environment.

He added that companies that adopt the intelligent design of their operations will succeed in enhancing the life of their products, establishing a highly efficient waste management system, and a high-level recycling strategy, which will enhance their reputation and the quality of their services.

Buamim stressed that sustainability is a fundamental pillar of Dubai's vision, and the Dubai Chamber is committed to supporting this vision by encouraging companies to adopt best responsible and sustainable business practices.

For her part, Samira Al Rayes, Director of the Policies and Strategies Department for Sustainable Development in the General Secretariat of the Executive Council of Dubai, said that the circular economy is consistent with Dubai's future plans, as it plays a key role in establishing a stable and sustainable future.

"We have a responsibility as decision-makers, not only to constantly and diligently review existing systems, but also to work to facilitate positive impact," she added.

In turn, Omar Shennawy, CEO of Procter & Gamble in the Middle East, East and West Africa, said that events such as “Expo 2020 Dubai” and “Dubai Dialogue 2021” play a key role in exploring business models and multilateral partnerships to lead the circular transformation in Climate, water and long-term waste.

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