Umm Al Quwain government signs cooperation agreements to support the implementation of the sustainable blue economy strategy

Sheikh Majid bin Saud bin Rashid Al Mualla, Chairman of the Department of Tourism and Antiquities in Umm Al Quwain, signed a series of agreements to enhance cooperation and partnership in the context of achieving Umm Al Quwain’s sustainable blue economy strategy, launched by His Highness Sheikh Saud bin Rashid Al Mualla, Member of the Supreme Council and Ruler of Umm Al Quwain during the activities of the World Summit for governments 2022.

Sheikh Majid bin Saud bin Rashid Al Mualla signed a cooperation and partnership agreement between the Court of the Ruler of Umm Al Quwain, Mohammed bin Ahmed Al Bawardi, Minister of State for Defense Affairs, President of the Emirates Nature Society, Abdullah bin Touq Al Marri, Minister of Economy, Chairman of the Board of Trustees of the National Fund for Social Responsibility, and Abdul Fattah Sharaf, CEO of the Bank HSBC Middle East in the UAE and Head of International Business Department in the application of Umm Al Quwain nature-based solutions paths in accordance with Umm Al Quwain’s sustainable blue economy strategy.

Sheikh Majid bin Saud bin Rashid Al Mualla stressed that the “Umm Al Qaiwain Sustainable Blue Economy Strategy” adopts a partnership approach and enhances cooperation with all partners in the public and private sectors, which contributes to accelerating the pace of achievement and achieving the desired goals in all developmental, economic and social paths.

Sheikh Majid bin Saud bin Rashid Al Mualla said: "We have signed a set of agreements with the aim of achieving the strategic objectives in the sectors of economic development and attracting investments through sustainable management of natural resources in accordance with the best international standards and practices... We look forward to raising the share of the blue economy in the output." The Emirate’s gross domestic product so that its contribution is not less than 40%.

Abdul Fattah Sharaf, CEO of HSBC in the UAE, said: “HSBC is committed to promoting nature-based solutions as part of its mission to achieve the goal of carbon neutrality and a resilient and sustainable future.

Our partnership with the Emirates Nature Foundation in cooperation with the World Wide Fund for Nature, the Abu Dhabi Environment Agency (EAD) and the International Center for Biosaline Agriculture (ICBA) will provide opportunities for eco-tourism for our country, support sustainable local fisheries policy as well as enhance food security in the coastal lagoon areas of Umm Al Quwain and Abu Dhabi.”

Abdullah bin Touq Al Marri, Minister of Economy and Chairman of the Board of Directors of the National Fund for Corporate Social Responsibility, said that Umm Al Qaiwain’s sustainable blue economy strategy 2031 is a pioneering initiative and will play a major role in supporting the country’s efforts to move to a more diversified, flexible and capable economic model that is able to meet the requirements of sustainable development.

His Excellency pointed out that the private sector in the UAE is a major partner in supporting the country's efforts to shift towards sustainable growth, and has provided a model in adopting and consolidating social responsibility practices and working in accordance with the concepts of responsible investment.

He added that the National Fund for Corporate Social Responsibility is keen to support this pioneering initiative of the Emirate of Umm Al Quwain through its role in developing development partnerships between the public and private sectors and providing channels for the contribution of companies in the country to support projects and programs of the sustainable blue economy strategy to ensure the speedy implementation of these projects and achieve impact. desired, in a manner that serves national priorities and achieves the goals of sustainable development for the state.

As Mohammed Ahmed Al Bawardi, Minister of State for Defense Affairs and Chairman of the Emirates Nature Foundation Board of Directors, said, “We are pleased to cooperate and participate in Umm Al Quwain’s Blue Economy Strategy, a nature-based strategy. Nature is not only the greatest source of all the resources we need for life, but in fact it is the most important ally us in our fight against the climate crisis.

Where we can better preserve our way of life and at the same time combat climate change, by protecting, restoring and sustainably managing coastal blue carbon ecosystems, which contributes significantly to supporting the UAE’s national efforts in the field of climate change mitigation and adaptation.”

He also said, "Financed by HSBC and managed by the Emirates Nature Association, the "Nature-Based Solutions Project" offers sustainable and innovative business models, and enhances the capacity for local entrepreneurship and small and medium enterprises to enhance business opportunities in line with nature-based ecotourism, blue carbon, and security food and other commercial activities, which contributes to drawing a sustainable blue economy scheme for the Emirate of Umm Al Quwain.”

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