The Finance World Magazine| Edition: March 2023

Cover Story
various segments, such as satellite
design and development, satellite
operations and maintenance, and
satellite-based services. Moreover, the
UAE’s space sector has also stimulated
the growth of other industries, including
the development of new technologies,
materials, and equipment, which are
utilized in the manufacture and launch
of satellites.
Additionally, the UAE launched
the National Plan for the Promotion
of Space Investment in 2019 with the
objective of increasing domestic and
foreign investment in the country’s
space sector. This initiative aims to
establish the UAE as a regional centre
for commercial space activities and
advanced research and development
while also encouraging local investment
in space-related projects both within
the country and globally.
The Space Investment Promotion Plan
aligns with the objectives outlined in the
UAE Vision 2021, UAE 2071, and the UAE
Plan on the 4th Industrial Revolution. Its
primary objectives include diversifying
and ensuring the sustainability of
the UAE economy, promoting a
highly productive knowledge-based
economy, providing incentives for
research and development, encouraging
entrepreneurship, and enhancing the
role and opportunities for SMEs in the
private sector.
According to H.E. Salem Humaid
AlMarri, the Director General of MBRSC,
the UAE has had a long-standing interest
in space that dates back to the 1970s,
with the late H.H. Sheikh Zayed bin
Sultan Al Nahyan inspiring the country
to pursue space exploration. During the
opening ceremony of SpaceOps 2023,
AlMarri further stated that MBRSC has
achieved several significant milestones
in space exploration, including
launching satellites, sending the Hope
Probe to Mars’ orbit, and the Rashid
rover’s mission to the Moon, as well
as participating in astronaut missions.
AlMarri also emphasized that the UAE is
committed to continuing its investments
in space exploration.
From his side, Adnan AlRais, Local
Organising Committee Chair, MBRSC,
said that “Over 560 research papers
will be presented showcasing the latest
developments in mission planning,
astronaut missions, and best practices,
among others.”
Al Marri also added: “I think we’ll be
the 10th or 11th country that does a
long-term space flight to the ISS. And
I think that sends a clear message that
we are here to be active players and
we are here to stay.”
The UAE has made remarkable
progress in space exploration, from
being the first Arab nation and fifth
country globally to reach Mars to
launching the first long-term Arab
space mission. Two significant
accomplishments in the country’s
growing space endeavours are the
Emirates Mars Mission, also known
as the “Hope Probe,” and the Emirates
Lunar Mission, also known as the
“Rashid Rover.”
The UAE plans to establish a
sustainable astronaut program by
conducting multiple spaceflights in the
future. Additionally, the country is in
talks with NASA regarding participation
in the Artemis program, which aims
to establish a human presence on the
Moon. Given the country’s ambitious
space missions, it is highly likely that
its future astronauts will be part of
upcoming missions to the Moon, Mars,
and other planets.
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www.thefinanceworld.com March 2023