During its second meeting, the Space Economy Committee, a part of the Space Economic Zones Program and one of the initiatives of the UAE Space Agency, reviewed the National Space Fund projects. The committee also commended the current efforts nation-wide to support the development of the UAE’s space and industrial sectors.
The meeting reviewed the National Space Fund’s key projects, in addition to its role in building national capabilities and competencies, raising its contribution to diversify the national economy, developing the infrastructure to support the space industry, creating an attractive environment for startups, and attracting global space companies to the UAE.
The programs reviewed by the committee covered the importance of building a program to drive the transfer of know-how and capabilities to the UAE’s space sector focusing across the value chain. The committee agreed to launch a program to expedite the growth of space science and engineering skills and enable graduates to become influential contributors in the dynamic and constantly evolving space sector.
Furthermore, the committee also discussed the latest updates on 'Sirb,' a constellation of remote sensing satellites utilizing radar technologies to deliver unparalleled imaging capabilities, while developing the entire space value-chain. The Sirb Program focuses on developing unprecedented design, assembly, and integration capabilities at a commercial level within the country. This program will unlock an important part of the space value chain, focusing on the development of spacecrafts for earth observation purposes linked directly to commercial use of the data.
The meeting also discussed current challenges faced by entrepreneurs in the sector, the challenges will be addressed through the programs under the Emirates Capability Development Program. The Space Economic Zones Program, enabled by the Space Fund, is working towards enabling a commercially viable space ecosystem within the country.
The members concluded the meeting by actioning recommendations to enable the space sector's rapid growth, promote innovation and development, and support the realization of the UAE’s aspirations for its national space sector.
The Space Economy Committee was formed to enable the space economy through the integration of efforts in investment, and to demand creation and market expansion targeting space-related fields.
The Space Economic Zones Program was launched as a comprehensive program, aiming to support the establishment, growth, and sustainability of national space-related companies, while promoting the sector’s contribution to the national economy and GDP, by increasing the number of companies in space economic zones across the UAE to engage the private sector as a key contributor to growth and development efforts. The Space Economy Committee works with all stakeholders in the sector to enable the growth of the space ecosystem.
The meeting was chaired by H.E. Ibrahim Hamza Al Qasim – Deputy Director General, UAE Space Agency, Chairman of the Committee, in the presence of members from the UAE Space Agency, the Commercial Affairs Regulatory Sector, the Industrial Accelerators Sector in the Ministry of Industry and Advanced Technology, Abu Dhabi Business Centre in the Department of Economic Development – Abu Dhabi, the SME Sector in the Department of Economic Development – Abu Dhabi, and the Investment Support in the Department of Economy and Tourism – Dubai.