UAE space chief Sarah Al Amiri has told of ambitious plans to increase private sector investment in the country's growing space industry and make it a key contributor to the economy.
In an exclusive interview with The National, Ms Al Amiri, the Minister of State for Advanced Technology and chairperson of the UAE Space Agency, said the aim is to make the UAE a regional hub for the development of spacecraft systems.
She said the UAE's plans to increase manufacturing and industry's contribution to the country's economic output to Dh300 billion over the next decade would be at the heart of efforts to develop a private space sector that would build advanced space systems and generate more job opportunities, including for overseas talent.
Last month, the UAE launched the 'Operation 300bn' strategy to position the country as a global industrial hub by 2031. It sets out to increase the industrial sector's contribution to the local gross domestic product (GDP) from the current Dh133bn to Dh300bn.
As we move forward with Operation 300billion, it's very evident that we need to have a private sector and, therefore, an industry in space
Ms Al Amiri spoke of how the space industry would support the economy and revealed what kind of space technology would be in focus under the industrial plan.
"As we move forward with Operation 300bn, it's very evident that we need to have a private sector and, therefore, an industry in space.
“Most of the current space sector within the Emirates is focused on government spending and programmes across both local and federal governments,” she said.
"Today, we're talking about a space sector that has an indirect impact to the economy. In five years, we want to see a space sector that has both an indirect impact on the economy, society, and also a direct impact on the economy."
Once the industry starts to grow, it would mean access to locally manufactured space technologies.
Steps are already being taken to increase public-private partnerships. UAE-based aerospace manufacturing firm Strata, for example, is developing the parts for the coming MBZ-Sat satellite.
A public-private partnership model is being undertaken by space agencies worldwide, as more private space companies emerge to offer their services to governments.
Nasa has been leading the way in this through its partnership with private rocket company SpaceX, which now sends Nasa astronauts to the International Space Station. The firm’s Starship was also selected to send the next astronauts back to the Moon.
"There is a gap that the UAE can latch into and the reason for the existence of this gap is due to the lower cost of access to space, which provided a new form of spacecraft, products and services in the space sector," said Ms Al Amiri.
Home-grown satellites with 'brains'
Several space technologies would be in focus as the private sector grows, including instrumentation of microsatellites weighing between 100 to 250 kilograms.
Another area of focus would include designing the satellite systems and ‘brains’ of the spacecraft, such as flight software.
These are integral parts of a spacecraft that help improve performance and health.
KhalifaSat, which was the first Emirati-built satellite, was a product of the Mohammed bin Rashid Space Centre, but some parts such as the solar panels, were sourced from an Italian private company.
The UAE’s Hope probe was built by Emiratis along with three American universities.
Investing in local and foreign talent
Through the expansion of the space industry, more opportunities to be part of UAE's and other nation's space programmes would become available to foreign talent.
“The first thing we're focusing on is the sustainability of that sector,” said Ms Al Amiri.
“Because if you want jobs and opportunities to be created, it shouldn't be a one off thing and it shouldn't be for it to be fully sort of driven by demand from the public sector only.
“Step one is ensuring this ecosystem has a demand onto itself, so demand locally and regionally from different sectors, as well as positioning the UAE as a regional hub for the development of spacecraft systems.”
Currently, a government-led space programme makes up most of the country’s space activities.
Mostly UAE citizens have employment in the space sector, but there is demand from international talent who wish to work in the Emirates as space professionals.
“Because this is a new industry, you need to have a methodology by which you build experience for both expats and also for UAE nationals,” said Ms Al Amiri.
“And it's through this that the role of the space agency has evolved to be a space agency for the next decade.
“What we’re now transitioning into is less of a government-funded centres and programmes and more into the creation of a self-sustained space ecosystem.”
“We need to ensure that we have a sustained space industry that carries forward those relatively lower-risk commercial programme and create the necessary value in terms of development of technology for the country and for the region.”
UAE's lunar mission - in pictures
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School counsellors on mental well-being
Schools counsellors in Abu Dhabi have put a number of provisions in place to help support pupils returning to the classroom next week.
Many children will resume in-person lessons for the first time in 10 months and parents previously raised concerns about the long-term effects of distance learning.
Schools leaders and counsellors said extra support will be offered to anyone that needs it. Additionally, heads of years will be on hand to offer advice or coping mechanisms to ease any concerns.
“Anxiety this time round has really spiralled, more so than from the first lockdown at the beginning of the pandemic,” said Priya Mitchell, counsellor at The British School Al Khubairat in Abu Dhabi.
“Some have got used to being at home don’t want to go back, while others are desperate to get back.
“We have seen an increase in depressive symptoms, especially with older pupils, and self-harm is starting younger.
“It is worrying and has taught us how important it is that we prioritise mental well-being.”
Ms Mitchell said she was liaising more with heads of year so they can support and offer advice to pupils if the demand is there.
The school will also carry out mental well-being checks so they can pick up on any behavioural patterns and put interventions in place to help pupils.
At Raha International School, the well-being team has provided parents with assessment surveys to see how they can support students at home to transition back to school.
“They have created a Well-being Resource Bank that parents have access to on information on various domains of mental health for students and families,” a team member said.
“Our pastoral team have been working with students to help ease the transition and reduce anxiety that [pupils] may experience after some have been nearly a year off campus.
"Special secondary tutorial classes have also focused on preparing students for their return; going over new guidelines, expectations and daily schedules.”
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Explainer: Tanween Design Programme
Non-profit arts studio Tashkeel launched this annual initiative with the intention of supporting budding designers in the UAE. This year, three talents were chosen from hundreds of applicants to be a part of the sixth creative development programme. These are architect Abdulla Al Mulla, interior designer Lana El Samman and graphic designer Yara Habib.
The trio have been guided by experts from the industry over the course of nine months, as they developed their own products that merge their unique styles with traditional elements of Emirati design. This includes laboratory sessions, experimental and collaborative practice, investigation of new business models and evaluation.
It is led by British contemporary design project specialist Helen Voce and mentor Kevin Badni, and offers participants access to experts from across the world, including the likes of UK designer Gareth Neal and multidisciplinary designer and entrepreneur, Sheikh Salem Al Qassimi.
The final pieces are being revealed in a worldwide limited-edition release on the first day of Downtown Designs at Dubai Design Week 2019. Tashkeel will be at stand E31 at the exhibition.
Lisa Ball-Lechgar, deputy director of Tashkeel, said: “The diversity and calibre of the applicants this year … is reflective of the dynamic change that the UAE art and design industry is witnessing, with young creators resolute in making their bold design ideas a reality.”
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MATCH INFO
Uefa Champions League semi-final, first leg
Bayern Munich v Real Madrid
When: April 25, 10.45pm kick-off (UAE)
Where: Allianz Arena, Munich
Live: BeIN Sports HD
Second leg: May 1, Santiago Bernabeu, Madrid
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Ashton Agar, Alex Carey, Pat Cummins, Aaron Finch, Peter Handscomb, Josh Hazlewood, Travis Head, Usman Khawaja, Nathan Lyon, Glenn Maxwell, Shaun Marsh, Mitchell Marsh, Tim Paine, Matt Renshaw, Jhye Richardson, Kane Richardson, Billy Stanlake, Mitchell Starc, Marcus Stoinis, Andrew Tye.
What can victims do?
Always use only regulated platforms
Stop all transactions and communication on suspicion
Save all evidence (screenshots, chat logs, transaction IDs)
Report to local authorities
Warn others to prevent further harm
Courtesy: Crystal Intelligence
