UAE hopes for $100bn sustainable investment
Nation hopes to attract huge investment in renewables to 2020
The UAE government is attempting to attract $100 billion in investment for alternative and sustainable energy projects by 2020, in an effort to strengthen the ecological balance of the nation.
A seven-year development plan is in place with the government attempting to increase its investment in clean energy technology over the next five years, including putting funds into bio-fuel production and alternative energy sources.
In an interview with Gulf News, Feras Dahlan, first deputy chairman of the organising committee for the Investment Map Conference, said: “The IMC seeks to achieve ecological balance and sustainable development, to strengthen the UAE’s position regionally, to encourage national economic reforms, to gain international exposure, to raise GDP and to promote employment development.”