Mohamed Al Hammadi, managing director and chief executive of ENEC at the Global Manufacturing & Industrialisation Summit 2021 in Dubai on Monday. Pawan Singh / The National.
Mohamed Al Hammadi, managing director and chief executive of ENEC at the Global Manufacturing & Industrialisation Summit 2021 in Dubai on Monday. Pawan Singh / The National.
Mohamed Al Hammadi, managing director and chief executive of ENEC at the Global Manufacturing & Industrialisation Summit 2021 in Dubai on Monday. Pawan Singh / The National.
Mohamed Al Hammadi, managing director and chief executive of ENEC at the Global Manufacturing & Industrialisation Summit 2021 in Dubai on Monday. Pawan Singh / The National.

GMIS 2021: UAE is becoming global success story in clean energy transition


Fareed Rahman
  • English
  • Arabic

The UAE is becoming a global success story in the clean energy transition as a result of its policies and strategies, according to the managing director and chief executive of the Emirates Nuclear Energy Corporation.

“In the UAE, we have our target and our clear path … to [achieve] net-zero by 2050. We are already at full speed with projects that will help us reach our goal,” Mohamed Al Hammadi said at the Global Manufacturing and Industrialisation Summit in Dubai on Monday.

The UAE, the Arab world’s second-largest economy, is developing numerous renewable energy projects as it aims to become carbon neutral by 2050. It also recently completed the construction of Unit 3 of the Barakah Nuclear Energy Plant, the Arab world’s first multi-unit operating nuclear energy plant.

Unit 1 of the plant is already fully operational and Unit 2 was recently connected to the main grid and continues to undergo testing.

“In 2012, we started building the nuclear reactor in the UAE and, as of today, we have one of the four reactors which are fully operational at Barakah. It is the single largest electricity generator in the Arab world and is also leading the largest decarbonisation effort of the industry in the region,” Mr Al Hammadi said.

The UAE is also building renewable energy projects to boost the supply of clean energy in the country, including the world’s largest solar plant in the Al Dhafra region of Abu Dhabi. The two-gigawatt plant is expected to be fully operational next year.

Dubai is developing the 5GW Mohammed bin Rashid solar park as part of its strategy to derive three quarters of its total power capacity from clean sources by 2050.

“We are also into further applications of nuclear technology beyond power generation, such as hydrogen as a clean fuel of the future for industry and transportation,” he said.

The UAE is bullish on hydrogen and has been drawing up a comprehensive roadmap to position itself as an exporter of clean fuel and tap into its future potential.

In January, Adnoc, Mubadala and ADQ formed an alliance to develop a hydrogen economy in the country, focusing on low-carbon green and blue hydrogen as part of the Emirates' continued energy diversification efforts.

Adnoc is also going into partnership with Taqa to form a global renewable energy and green hydrogen venture that will have a generating capacity of 30GW by 2030.

"In the UAE, we have the combination of nuclear energy and renewable energy working hand in hand to provide clean electricity to decarbonise the power sector without compromising industrial growth and society and energy sustainability," Mr Al Hammadi said.

"We have also opened up a world of opportunities for industries of the UAE to make use of clean electricity, for sustainable growth."

Who's who in Yemen conflict

Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government

Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council

Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south

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Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

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  • Have an up-to-date, professional LinkedIn profile. If you don’t have a LinkedIn account, set one up today. Avoid poor-quality profile pictures with distracting backgrounds. Include a professional summary and begin to grow your network.
  • Keep track of the job trends in your sector through the news. Apply for job alerts at your dream organisations and the types of jobs you want – LinkedIn uses AI to share similar relevant jobs based on your selections.
  • Double check that you’ve highlighted relevant skills on your resume and LinkedIn profile.
  • For most entry-level jobs, your resume will first be filtered by an applicant tracking system for keywords. Look closely at the description of the job you are applying for and mirror the language as much as possible (while being honest and accurate about your skills and experience).
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  • Go online and look for details on job specifications for your target position. Make a list of skills required and set yourself some learning goals to tick off all the necessary skills one by one.
  • Don’t be afraid to reach outside your immediate friends and family to other acquaintances and let them know you are looking for new opportunities.
  • Make sure you’ve set your LinkedIn profile to signal that you are “open to opportunities”. Also be sure to use LinkedIn to search for people who are still actively hiring by searching for those that have the headline “I’m hiring” or “We’re hiring” in their profile.
  • Prepare for online interviews using mock interview tools. Even before landing interviews, it can be useful to start practising.
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