Abu Dhabi Executive Council approves new development projects

Abu Dhabi, Jan 23th, 2012 (WAM) --Crown Prince of Abu Dhabi, Deputy Supreme Commander of the UAE Armed Forces and Chairman of Executive Council of Abu Dhabi His Highness Sheikh Mohammed bin Zayed Al Nahyan chaired today the Executive Council meeting in the presence of H.H. Sheikh Hazza Bin Zayed Al Nahyan, National Security Advisor and Vice Chairman of the Executive Council. The Executive Council approved a number of new development projects for the emirate, especially in the areas of social services, housing, health and education. This is in keeping with the Government s priorities in providing a dignified life and adequate housing for all citizens. The Council gave approval for construction, renovation and infrastructure projects in Liwa, Ghayathi, Al Hayer, Al-Shuaib, Bida Al Mutawaa, Mazyed, Um Ghafa, Nema, Al Salamat Umm Alashtan and Alybanh. Additional infrastructure projects will be implemented for a number of other residential districts in the north of Al Wathba, Al Falah, Mohamed bin Zayed, and Emirati neighborhoods in metropolitan and other areas. The North Wathba project is one of the largest residential projects to have been approved to date. It covers an area of 4,178 hectares, and on completion it will provide 13,150 new residential plots. The Abu Dhabi government will during the course of 2012 provide a total of 7,608 residential villas for its citizens. This is in line with long term planning targets for providing appropriate levels of accommodation for all Abu Dhabi citizens.

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UAE for fruitful, progressive ties with Tunisia

UAE women advance education and empowerment with Young Future Energy Leaders at WFES

The UAE is looking forward to maintaining strong, fruitful and progressive relations with Tunisia, said Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan. Sheikh Abdullah made the remarks during a joint press conference with Tunisian Minister of Foreign Affairs Rafik Abdul Salam in Dubai on Thursday. Abdul Salam praised the deep-rooted relations between the two countries. “We are here to further boost the strong ties and to thank the UAE for the support it has been giving to Tunisia,?he added. The Tunisian minister said an invitation was extended to Sheikh Abdullah to visit Tunisia. He spoke about the phases of building a democratic nation in Tunisia following the revolution and noted that the current government is a three-party coalition. Asked about current developments in the region in relation to Iran, Sheikh Abdullah said the UAE is interested in regional stability. “We do not want anything that undermines regional stability,?he said, adding that efforts were being made by all parties to maintain that stability and that it is important to make positive statements. - Emirates News Agency, WAM

At the 2012 World Future Energy Summit, a group of young Emirati women showed how they are leading the way on energy and climate change in the UAE. Alice Marsden, an attorney at Latham '&' Watkins, moderated a panel discussion on clean energy and climate change. The four women panellists, who come from diverse education and career backgrounds, shared their experiences and perspectives with conference attendees at the Young Future Energy Leaders Theatre. The panel was organised by the Directorate of Energy and Climate (DECC) in the Ministry of Foreign Affairs (MoFA), in collaboration with Latham '&' Watkins' Women Enriching Business (WEB) initiative and the Masdar Institute's Young Future Energy Leaders (YFEL) Program. "WFES truly brought together leaders from around the world to discuss some very serious issues," said Mariam Al Mutawa from DECC, the organiser of the forum. "This panel was an obvious opportunity to highlight the work being done by women on future energy, clean energy and climate change issues in the UAE. We were able to create a dialogue between women working in these fields, and students, on how they can lead the way on these important issues, " said Al Mutawa. Maryam Al Balooshi from UAE's General Civil Aviation Authority (GCAA), who is breaking gender barriers in her work, discussed how she has transitioned from working as a chemical engineer into a more political role in the aviation sector. Mariam Al Mutawa from DECC discussed her experiences as a recent graduate of Zayed University and shared thoughts on how UAE universities could increase the number of women in clean energy careers.

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S. Korea aims to up EU market share to 3 pct

China aiming to attract $120 bn in FDI in 2011-2015 : MoC

South Korea aims to increase its market share in the European Union (EU) to 3 percent within three years by taking advantage of a bilateral free trade pact that took effect July 1. South Korean Trade Minister Kim Jong-hoon said increasing market share from 2.6 percent at present is possible since the free trade agreement (FTA) gives local businesses an edge over rivals in other countries in a talk show with a local broadcasting station.. The FTA could help two-way trade with the 27-member economic bloc go up as much as 20 percent in the long run, he said adding that as of July 1, 76.6 percent of all tariffs levied by the EU on South Korean products in the past have been abolished, which could exert positive influence on trade. Under the open trade deal, Seoul and Brussels will eliminate or phase out tariffs on 96 percent of EU goods and 99 percent of South Korean goods within three years after the accord takes effect, and duties on most industrial goods will be abolished within five years. Seoul plans to provide fiscal support and offer tax benefits to help local livestock farmers overcome the expected influx of cheap meat imports from the EU.

BEIJING, 6th Jan. 2012 (WAM) -- China aims to attract US$120 billion of foreign direct investment (FDI) annually during the 12th Five-Year Plan period (from 2011 to 2015), the Ministry of Commerce (MOC) said on its website. The ministry also said the country expected its outbound direct investment (ODI) to see an annual growth rate of about 17 per cent to accumulate US$560 billion in 2011 to 2015. China attracted US$103.77 billion of FDI in the first 11 months in 2011, up 13.15 per cent year on year. Its outbound direct investment, excluding that of the financial sector, was US$50.01 billion in the first 11 months, up 5.2 per cent year on year, Asia Pulse Service said quoting the ministry's website. The country utilized US$426 billion of FDI during its 11th Five-Year Plan period (from 2006 to 2010). FDI into China hit a record high of US$105.74 billion in 2010, up 17.4 per cent year on year. In 2009, China attracted US$90.03 billion in foreign direct investment, down 2.6 per cent from the US$92.4 billion in 2008, which jumped 23.58 per cent on year. In 2007, the inflow of FDI rose 13.8 per cent to US$82.66 billion and in 2006, inflow of FDI dropped 4.06 per cent year on year to US$69.47 billion.

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UAE proves keen to keep an edge

The UAE and South Korea have linked up in an effort to ensure the competitiveness of their national economies and maintain an edge over nearby rivals. The Emirates Competitiveness Council (ECC) has partnered its South Korean counterpart to boost productivity in the UAE economy. It has also signed research and development deals with universities in both countries intended to bolster strategic industries. The two countries are seeking to share expertise of economic management that has led to rapid growth during the past few decades, said Tae-Shin Kwon, the vice chairman of the Korean Presidential Council on National Competitiveness. "Korea should learn a lot from the UAE, not vice versa," he said. South Korea was seeking to learn from Dubai's experience in developing tourism, services, hospitality and "green growth" industries, Mr Kwon added. The UAE has developed a number of partnerships with South Korea, most notably selecting Korea Electric Power Corporation to design, build and help operate its civilian nuclear power plants. The two have also signed major deals in the oil and gas sector. The UAE is now seeking to partner universities in South Korea and elsewhere in the world to improve the quality of the research it generates, said Abdullah Lootah, the ECC's secretary general. "As a Government, I think we need to do more to facilitate the environment ?for people with different thinking and great ideas," he said. The ECC, established in 2009, plans to promote competition among government agencies and cut through bureaucracy, resulting in increased trade and accelerated economic growth. In addition to increasing the quality and promptness of releases of official data and statistics, the organisation is considering the establishment of an agency focused on protecting intellectual property to develop the UAE's climate for research, Mr Lootah said. "It could be one way of telling the nation that we take research and development very seriously," he said. "I think we're getting there, slowly, but I think we can speed up the process." Among the most dynamic economies in Asia, South Korea has attempted to develop a so-called "knowledge economy" built around innovation in an attempt to ensure it remains competitive against cheap labour from fast-growing markets nearby such as China, Vietnam and Cambodia. The UAE has attempted to replicate a "knowledge economy", establishing large numbers of university satellite campuses in Dubai and Abu Dhabi. "We should make use of the 70-plus private universities in the country," Mr Lootah said. "Those entities are here not only to have a presence in the Middle East, but to add value to human capital." Developing a country's universities and research environment could lead to substantial gains in its competitiveness, Mr Kwon said. "It can be done by education and training, as we've seen in the successful story of Steve Jobs," he said. "He never invented any new things, but he was a genius at collecting them together with good marketing and design." ?The National

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