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UAE Embarks On 2031 National Investment Strategy To Boost Annual Foreign Inflows

The UAE has set a bold vision with its National Investment Strategy 2031, targeting an elevation in annual foreign investment inflows from AED112 billion ($30.5 billion) in 2023 to AED240 billion ($65.4 billion) by 2031. His Highness Sheikh Mohammed bin Rashid Al Maktoum highlighted the strategy’s goal to transform the UAE into a premier global investment hub. Aiming to swell the foreign direct investment stock from AED800 billion to AED2.2 trillion, this strategy focuses on key sectors: industry, financial services, transport and logistics, renewable energy, and telecommunications.

Key Initiatives And Economic Contributions

The approved strategy includes 12 new programs and 30 distinct initiatives, such as the Financial Sector Development and the Investment Offices Promotion Incubator. Currently, foreign direct investment contributes significantly to the GDP, with predictions to increase its share to over 30% of the total investments by 2031.

Dive deeper into the global market shifts in Wall Street Tumbles Amid Trade Tensions.

Technological And Digital Advancements

The strategy outlines the UAE’s vision to become a digital economy powerhouse by 2031, intending to enhance the digital economy’s current contribution to GDP from 9.7% to 19.4%. The Industrial Technology Transformation Index (ITTI) will also play a pivotal role in gauging technological advances and sustainability practices.

The introduction of a remote work system and the launch of the National Green Certificates Program further highlight the UAE’s efforts to harness global talent and promote sustainable development.

Amazon Says It Has Enough Satellites To Begin Initial Leo Internet Service This Year

Amazon says its low Earth orbit internet business, Leo, has reached an important milestone, with enough satellites now in orbit to begin initial commercial service later this year.

Reaching A Critical Threshold

The company launched 29 additional satellites shortly after 12:30 a.m. ET on Thursday aboard a United Launch Alliance Atlas V rocket, bringing its constellation to more than 390 satellites.

According to Chris Weber, Amazon Leo’s vice president of business and product, that is enough to provide continuous service across the first coverage areas. Amazon began offering an enterprise preview to selected businesses in November but has yet to launch the service for consumers or government customers.

The milestone moves Amazon closer to becoming a meaningful competitor to SpaceX’s Starlink in the rapidly growing satellite broadband market.

Building Coverage, One Launch At A Time

The initial rollout will cover only selected regions, with future launches expanding both capacity and geographic reach as the constellation grows.

Unlike traditional broadband networks, satellite internet depends on several elements progressing together, including satellite production, launch availability, orbital deployment and ground infrastructure.

Catching Up With Starlink

Amazon still has considerable ground to make up. While the company announced the project in 2019, SpaceX began building Starlink in 2015 and has since deployed around 10,000 satellites, serving more than 10 million customers worldwide.

Amazon ultimately plans to deploy roughly 7,700 satellites, but progress has been slowed by limited launch capacity. Earlier this year, the company asked regulators to extend deployment deadlines, citing industry-wide shortages of available rockets.

Although Amazon secured launch agreements with ULA, Arianespace, Blue Origin and later SpaceX, several providers have experienced delays. One setback came in May, when Blue Origin’s New Glenn rocket exploded during a hot-fire test just days before it was scheduled to launch Amazon satellites.

Next Phase Of Deployment

Amazon’s next Leo mission will use ULA’s Vulcan rocket, which can carry larger payloads and help accelerate deployment. Melissa Wuerl, Leo’s director of launch systems, said the company already has hundreds of flight-ready satellites at Cape Canaveral, along with dedicated production facilities to support a faster launch cadence.

“We have a clear path to increase launch and deployment cadence,” Wuerl said, adding that Amazon intends to expand network coverage rapidly once commercial service begins later this year.

For Amazon, reaching the 390-satellite mark represents more than another successful launch. It marks the transition from building the network to bringing it into commercial operation as the company attempts to challenge Starlink’s early lead in the satellite internet market.

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