UAE leading model in economic diversification, AI adoption: UN Envoy
ABU DHABI (WAM) United Nations Special Envoy on Financing the 2030 Agenda for Sustainable Development, Dr. Mahmoud Mohieldin, has praised the UAE as a pioneering model in the region for economic diversification, future-focused investment, and the strategic use of advanced technologies to drive sustainable development.Speaking to WAM, Dr. Mohieldin highlighted the UAE's robust economic growth, powered by the rising contribution of non-oil sectors and increased investments in technology and renewable energy, despite global economic challenges and volatility in emerging markets.He indicated that the UAE's economic policy has placed a strong emphasis on enhancing private sector participation and expanding investments in solar and wind energy, green hydrogen, and the peaceful use of nuclear energy.The UN officials also underscored the UAE's rapid shift toward digital transformation and artificial intelligence, not only as tools to improve operational efficiency but as key pillars for boosting economic competitiveness and creating new avenues for growth.He commended the country's efforts in building digital infrastructure and supporting innovation-driven enterprises and entrepreneurship.On a regional level, he said that economic growth forecasts for the Middle East have been slightly revised downward, citing global trade tensions and a slowdown in international investment flows.
According to international financial institutions, regional growth is expected to range between 2.5% and 2.7% this year, about one percent lower than the average for emerging markets and developing economies.
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