The Dubai World Trade Centre (DWTC) and the SuperBridge Council have announced that the highly anticipated second edition of the SuperBridge Summit 2024 (https://SuperBridgeDubai.com) will be held on 15-16 October 2024, at the One&Only One Za’abeel, Dubai. The two-day summit will coincide with GITEX Global, bringing together future leaders of the global economy in one venue.

The theme of this year’s summit – ‘Innovate for Next Gen’, will explore diverse elements shaping the future of global economy, across five key topics: ‘Economic Powerhouse’, ‘Technology and Industrial Transformation’, ‘Leadership and Human Equity’, ‘Life and Wellbeing’, and ‘Wealth and Investment’. The term ‘innovate’ in the theme embodies a proactive approach to seeking solutions for the world’s most urgent challenges, while ‘Next Gen’ underscores the multi-dimensional facets of global economic forces, technology, leadership, wellbeing and investment.

Following the success of last year’s edition, which hosted 58 revered speakers – including seven ministers from  such as UAE, Egypt, Pakistan, Morocco, Benin, and Lebanon – several key speakers have expressed their interest in returning. The inaugural summit welcomed over 400 chairpersons and CEOs, and over 2000 C-level attendees, collectively overseeing a capital base of USD 3.5 trillion across 140 financial institutions with a combined corporate wealth of USD 900 billion. The summit also saw participation from the representatives of the UAE Ministry of Economy and leading conglomerates such as Trip.com, Asset Management One (Japan), and Beijing Academy of AI, among others.

His Excellency Helal Saeed Almarri, Director General of Dubai Department of Economy and Tourism, and DWTC, said: “Hosting the SuperBridge Summit 2024 underscores our strategic role as a global nexus for innovation and cross-regional investments. Our advanced financial infrastructure, commitment to cutting-edge technologies, and visionary leadership align seamlessly with the summit’s focus on fostering the next generation of leaders. Dubai’s dedication to economic diversification, high living standards, and thriving business environment make it the perfect destination to inspire and connect global innovators.”

Vanessa Xu, Executive Chairman&CIO of VS Partners and co-founder of the SuperBridge Council, added: “We are thrilled to announce that we will be hosting the second edition of the SuperBridge Summit, which represents a visionary and bold initiative made possible through our collaboration with DWTC. The resounding success of last year’s edition is a testament to the burgeoning economic prowess of the world’s east and south. The summit serves as a hub for interdisciplinary and international partnerships, highlighting emerging talents poised to tackle global challenges directly.”

The SuperBridge Summit is known to be a key enabler of positive economic impact. For instance, Trip.com, the founding sponsor of last year’s summit, inaugurated its Dubai office following the event, undertaking major travel expansion initiatives. Moreover, a prototype and live demo of tokenization platform called Project Diamond of Coinbase Asset Management was featured at the summit. It sparked a lot of engagement, and the platform is now live.

More information about SuperBridge Summit 2024 (https://SuperBridgeDubai.com)

Distributed by APO Group on behalf of SuperBridge Summit Dubai.

EANAN Al Samma (https://EANAN.ae/), a UAE-based technology company leading the next evolutionary step in transportation through advanced air mobility (AAM), has signed a memorandum of understanding (MOU) with the University of Dubai (UD), Xi’an Jiaotong University (XJTU) and Zhuji SRJL Materials Laboratory to foster international cooperation in applied sciences and expand the dissemination of academic and research information.

The MoU was signed by Dr Eesa M. Al Bastaki, President of UD, Raymund Scheffler, Shareholder at EANAN, Mr. Cheng Jin, Member of Standing Committee of University Board of XJTU and Dr Lei Li, Executive Director of SRJL during a ceremony in the presence of representatives from all stakeholders. This collaboration is set to enhance academic exchange among faculty, postdoctoral fellows, and students, thereby enriching the academic and practical experience for all parties involved.

As part of this collaboration, a state-of-the-art laboratory will be established at the University of Dubai. This facility aims to promote collaborative efforts between the parties, advance academic research, integrate theoretical knowledge with practical experience, provide students with hands-on training in their field, and strengthen the connections between experts and students from diverse backgrounds. These key objectives align with the rapidly growing Advanced Aerial Mobility industry in the UAE, one of the fastest-expanding markets in aerospace.

Raymund Scheffler, Shareholder of EANAN, said: “We are honoured to collaborate with the key academic and industry specialists including the University of Dubai, XJTU and SRJL to contribute to the development of the field of air mobility. This MOU will allow us to leverage our combined strengths to develop innovative technologies and solutions that will drive the future of the air mobility sector. We look forward to working closely with our partners to foster competence exchange, cultivate talent, and make a tangible impact on the industry.”

The setting up of an exclusive laboratory at Dubai holds significance as it seeks to further strengthen ties between the UAE and China, fostering innovation and technological advancements through shared expertise and resources.

Dr Eesa M. Al Bastaki, President University of Dubai: “We, at the University of Dubai, are pleased to enter into a strategic partnership with EANAN, one of the leading technology companies in the UAE, along with XJTU and SRJL. This important agreement aims to strengthen academic cooperation and create a fruitful platform for scientific research.  It further aligns with our mission to establish deep collaboration between the UAE and international academic and business societies as well as to establish robust ties to different cultures. Furthermore, we are thrilled to be part of this key partnership as it plays a vital role in supporting the UAE’s ambitious goal to become a global leader in the air mobility and electric motors industry by promoting the development of innovative technologies in this sector.”

Cheng Jin, Member of Standing Committee of University Board of XJTU: “XJTU is currently pursuing a strategy for integration of education and industries. Collaborations with UD, EANAN, SRJL through this MoU are a very important part of this strategy and will be mutually beneficial to all the parties involved. The establishment of the joint laboratory will certainly provide a great opportunity for academic and research staff to get insight into the related fields. The platform will serve as an important base for achieving remarkable progress in science, research and industries in the future. Moreover, it will act as an important link among our partners, as well as between China and the UAE, promoting cooperation and strengthening the friendship between the people in the two countries.”

Dr Lei Li, Executive Director of SRJL: “As a high-energy R&D and industrial incubation platform based on international cooperation, the SRJL focuses on the research of key common technologies in material surface treatment and material body enhancement. The establishment of this joint laboratory signifies that we will engage in deeper cooperation in broader fields such as new materials, new energy equipment, and aircraft power systems. We will work together with a more pragmatic attitude and keen insight to overcome difficulties on the path of scientific research and pursue higher technological achievements.”

In line with the collaboration, the University of Dubai will offer all on-site support and facilities required for the establishment of the laboratory while EANAN will be responsible for confirming its functionality. The MOU enables parties to send delegates to learn each other’s educational system and curriculum design. Additionally, the agreement mandates that postdoctoral from all of the parties should fulfil the requirements set forth by the receiving party to be admitted to a degree-granting or non-degree-granting programme.

Established in Dubai, EANAN is the first company to deliver autonomous multi-copter and flying wing aircraft from its production facility in the country surpassing the rigorous demands and regulatory requirements of the aviation industry.

Distributed by APO Group on behalf of Eanan Al Samma.

About EANAN:
EANAN is a UAE technology company leading the next evolutionary step in transportation through advanced air mobility (AAM). Based in the Mohammed Bin Rashid Aerospace Hub (MBRAH), Dubai South, we are the first company to make advanced unmanned aircraft in Dubai. We engineer, produce, and operate a fleet of heavy cargo and vertical take-off and landing (eVTOL) aircraft that safely, efficiently, and securely transport people and goods across any environment, for every type of need.

From congestion-free travel to faster delivery of goods and from assisting emergency response to monitoring remote facilities, AAM’s potential to transform economies and societies, making transportation more accessible, efficient, and environmentally friendly is unlimited. We’ve brought together an ecosystem of local and international experts to deliver autonomous multi-copter and flying wing aircraft from our local production facility, designed, and engineered to exceed the rigorous demands and regulatory requirements of the aviation industry.

Born in Dubai, we nurture Emirati talent, imagination, and ingenuity, with the aim of becoming the first commercially operating air mobility company in the city. For more information please visit, https://EANAN.ae/  

About University of Dubai:
The University of Dubai (UD) has become home to multi-talented students, distinguished staff and world-class faculty members with diverse multicultural backgrounds. The University has developed a well-established educational platform for research opportunities through its advanced campus resources, laboratories and centers.

From local conferences and seminars to international summits, the University of Dubai has played an integral role in fostering connections, promoting youth empowerment and building a liaison between the professional and the academic communities.

The University of Dubai offers an extraordinary variety of business, law, engineering and IT programs that aim to educate and raise entrepreneurs and leaders of the future.

The African Development Bank Group (www.AfDB.org) and the Climate Investment Funds (CIF) have launched a series of groundbreaking workshops aimed at integrating ‘just transition’ principles into Uganda’s sustainable development strategy.

The two-day event brought together key stakeholders to ensure that the shift towards a clean economy doesn’t leave vulnerable communities behind. The initiative underscores the Bank Group’s commitment to balancing environmental progress with social justice across the continent.

“Uganda is at the forefront of climate action, which will inevitably lead to both positive and negative impacts,” said Augustine Kpehe Ngafuan, African Development Bank Country Manager for Uganda. “This project aims to support the government in better understanding the risks and opportunities associated with climate mitigation measures in the transport sector.”

A highlight of the workshops was the presentation of a socio-economic impact assessment model developed by Neyen Consulting. The model focuses on Kampala, where 50% of Uganda’s vehicles are concentrated, with special attention to informal sectors.

Two key proposals were discussed: replacing 60% of the boda boda (motorcycle taxi) fleet with electric vehicles by 2035, and increasing the ratio of minibus taxis to boda-bodas through the rapid introduction of electric minibuses by 2035. These measures align with Uganda’s National Determined Contributions (NDC) and aim to significantly reduce greenhouse gas emissions.

In a parallel development, Uganda has begun preparing its national Just Transition Framework with support from CIF and the African Development Bank Group. The framework will outline a development pathway that reduces vulnerability, poverty, and inequalities as the country transitions to a low-carbon, climate-resilient economy.

Moses Masiga, Climate Finance Expert and CIF/World Bank Consultant, noted, “Workshop participants demonstrated understanding of current strategies to transition towards the low carbon and climate resilient pathway pursued in various national development plans.”

Key sectors identified for just transition planning include agriculture and forestry, energy and minerals, transport, cities/urban planning, and green industrialisation.

“The standout recommendations were ensuring synergies between just transition strategies across different sectors, demonstrating the benefits versus costs of the just transition, and developing from existing national and sector strategies,” Masiga added.

The workshops build on national kickoff sessions held in early April, which involved over 50 representatives from government and non-government stakeholders.

Ngafuan, the Bank country manager, concluded, “This process is further evidence of the Bank’s commitment to just and transformative climate action across the continent and in Uganda in particular. Analyzing climate actions with a sector lens is essential to unpack sectoral priorities while ensuring synergies and coherence at the national level.”

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
Sonia Borrini
Communication and Knowledge Management Specialist
Climate Change and Green Growth Department
African Development Bank
s.borrini@afdb.org

In the oil and gas industry, local content refers to the development of local industries, workforce and resources to support the operations of international oil companies (IOC) within a country. For Namibia, fostering ‘Namibian Content’ can significantly enhance economic growth, social development and technological advancement.

Leveraging Local Content to Drive Economic Growth

Local content policies can be a catalyst for economic growth by ensuring that a significant portion of the industry’s value chain is retained within the country. By promoting the use of local goods, services and labor, these policies can create a myriad of job opportunities for Namibians. This not only fosters employment but also stimulates the development of ancillary industries, such as manufacturing, logistics and services, which support the oil and gas sector. Local content also contributes to the diversification of Namibia’s economy. By developing industries related to the oil and gas sector, the country can reduce its reliance on oil revenues and build a more resilient economy.

Additionally, local content promotes the development of skills and the transfer of knowledge to the local workforce. By involving Namibians in various aspects of the oil and gas industry, from exploration to production, they gain valuable expertise and experience. Such policies also promote increased local participation and ownership in the oil and gas industry, while driving various social development through mandated investments in community infrastructure, education, healthcare and other social programs, thereby improving the quality of life for Namibians. Meanwhile, local content policies can also spur technological advancement and innovation. When local firms are part of the industry’s supply chain, they are often required to meet international standards, which drives them to improve their technologies and processes. This can lead to a broader technological base in Namibia, benefiting other sectors of the economy as well.

Successfully Implementing Local Content

Successfully implementing local content policies requires various proactive measures. These include capacity building and investing in developing a skilled local workforce and capable local companies; streamlining regulatory processes to enhance compliance and boost investor confidence; and addressing bureaucratic challenges to ensure smoother operations for both international and local companies. Additionally, providing financial incentives and investment opportunities that empower local firms; adapting to market dynamics to encourage local companies to embrace the global nature of the oil and gas industry; and ensuring high quality and standards across the market. Continuous improvement and training programs can also help local products and services achieve the high standards required, boosting their reputation and competitiveness on the global stage. By concentrating on these key areas, local content policies can be successfully implemented, leading to sustainable growth, innovation and a thriving local industry.

Lessons Learnt from Global Partners

Lessons learnt from resource-rich nations across the world can strengthen Namibia’s local content implementation. Norway, for example, provides a prime example of how local content can lead to substantial skills development. The country’s local content regulations required IOCs to partner with Norwegian firms and train local employees. As a result, Norway developed a highly skilled workforce and a robust oil services industry, which now competes globally. The country has consistently maintained a high employment rate within the oil and gas sector, with approximately 250,000 jobs supported by the industry.

In Angola, local content regulations have contributed to social development through initiatives like the Angolanization policy, which prioritizes hiring and training local citizens. The oil companies operating in Angola are required to invest in community projects, leading to improved healthcare facilities, schools and infrastructure in oil- producing regions. For example, investments in the health sector have led to the construction of over 100 health centers in the country. In Brazil, the implementation of local content requirements led to the growth of the domestic shipbuilding industry, creating over 30,000 jobs and reducing the country’s dependency on foreign vessels. Similarly, in Ghana, local content policies in the oil sector have resulted in increased employment, with over 7,000 direct jobs created since the inception of the policies, and the establishment of new businesses to service the industry.

Additionally, Nigeria’s local content law has significantly increased local participation in the oil and gas industry. The Nigerian Content Development and Monitoring Board (NCDMB) has overseen the growth of indigenous oil companies and service providers, ensuring that a significant portion of the industry’s value is retained within Nigeria. The NCDMB’s efforts have resulted in an increase in local participation from 5% to over 30% in the past decade. Meanwhile, Malaysia’s approach to local content has facilitated economic diversification. The country’s Petronas-led initiatives ensured that local companies were integrated into the oil and gas supply chain, leading to the growth of Malaysia’s engineering and construction sectors. Today, these sectors contribute significantly to the national economy, with the oil and gas industry supporting over 200,000 jobs.

Qatar has also implemented local content policies to ensure that its citizens benefit from the country’s substantial oil and gas wealth. The country’s Qatarization policy aims to increase the number of Qatari nationals employed in the energy sector to 50%. The United Arab Emirates (UAE) has also seen success with its local content initiatives. The In-Country Value (ICV) program, launched by Abu Dhabi National Oil Company, aims to support local businesses and create jobs for UAE nationals. The ICV program has driven over $20 billion back into the UAE economy and created thousands of jobs for Emiratis.

As such, the benefits of local content in Namibia’s oil and gas sector are manifold. By focusing on economic growth, skills development, economic diversification, increased local participation, social development and technological advancement, Namibia can ensure that its oil and gas resources are a blessing for its population of three million. 

Distributed by APO Group on behalf of African Energy Chamber.