In changing times, it pays to be prepared. While much of the world has been gripped by the high-octane drama of the US presidential election, two important gatherings in Abu Dhabi have shown how the Emirates is readying itself for the future.
The capital hosted the UAE’s Annual Government Meetings – a three-day retreat for national leaders as well as hundreds of federal and local officials. Officials spent hours reviewing the country’s various national strategies and worked on ideas for growth and development, such as a new strategy to double cumulative foreign direct investment to Dh1.3 trillion ($354 billion) by 2031.
Several other issues on the agenda are vital – artificial intelligence, national identity and the family are just three examples. Indeed, President Sheikh Mohamed, who attended on Wednesday took part a session on building Emirati families. There he described building Emirati families and fostering conditions for their growth as a shared national responsibility.
An important addition to the meetings' agenda this year is what Mohammed Al Gergawi, Minister of Cabinet Affairs, described as a “focus on empowering young national government leaders”.
When it comes to drawing up national plans and implementing them effectively, continuity is important. Therefore, developing the next generation of thought leaders is vital. On Monday, the first day of the Government Meetings, Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai, was joined by other senior UAE leaders at the graduation ceremony of the first cohort of young Emiratis to take part in the country’s Nafis Leadership Programme. Although this was created to help prepare young Emirati talent by developing their professional skills in line with the National Employment Strategy 2031, such experience adds to the country’s knowledge pool and will inform future UAE policy in an unpredictable world.
On the other side of town, another gathering was taking place that also wrestled with important issues that will affect this generation and the next. Adipec, the world’s biggest energy event, heard from Russell Hardy, chief executive of major energy trader Vitol, who told attendees that global oil demand may peak within the next 10 years, driven by increased consumption in developing nations that will offset declines in advanced economies. The caveat here is that, as Mr Hardy made clear, similar claims were made five years ago.
As we have just seen in America, predictions can be a tricky business. The International Energy Agency forecasts that global oil demand could peak around 2030, with a gradual decline thereafter. Goldman Sachs estimates that oil demand may peak around 2034, followed by a plateau rather than a sharp decline. But all the above scenarios highlight the importance of a managed transition to renewable forms of energy and transport, not drastic measures that would leave developing nations short of energy.
Given the clear effects of global warming – the floods seen recently in Spain are a grim reminder of our changing climate – this transition must be one that aligns with the kind of targets outlined at Cop28 in Dubai last year and that will be enhanced when Cop29 begins in Baku next week.
The opportunities and challenges of the 21st century are complex – and the answers to them must be informed and nuanced. For Abu Dhabi to host simultaneous governance and energy policy meetings shows that the capital is a hot spot for bringing together ministers, energy experts, influential private sector figures and the next generation of local leadership talent. This knowledge bank will be essential for the changing times that lie ahead.
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Transmission: Touchtronic III eight-speed automatic
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Torque: 630Nm
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Founders: Rashi Chowdhary and Saad Umerani
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Funding/investors: $400,000 (2018)
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Email sent to Uber team from chief executive Dara Khosrowshahi
From: Dara
To: Team@
Date: March 25, 2019 at 11:45pm PT
Subj: Accelerating in the Middle East
Five years ago, Uber launched in the Middle East. It was the start of an incredible journey, with millions of riders and drivers finding new ways to move and work in a dynamic region that’s become so important to Uber. Now Pakistan is one of our fastest-growing markets in the world, women are driving with Uber across Saudi Arabia, and we chose Cairo to launch our first Uber Bus product late last year.
Today we are taking the next step in this journey—well, it’s more like a leap, and a big one: in a few minutes, we’ll announce that we’ve agreed to acquire Careem. Importantly, we intend to operate Careem independently, under the leadership of co-founder and current CEO Mudassir Sheikha. I’ve gotten to know both co-founders, Mudassir and Magnus Olsson, and what they have built is truly extraordinary. They are first-class entrepreneurs who share our platform vision and, like us, have launched a wide range of products—from digital payments to food delivery—to serve consumers.
I expect many of you will ask how we arrived at this structure, meaning allowing Careem to maintain an independent brand and operate separately. After careful consideration, we decided that this framework has the advantage of letting us build new products and try new ideas across not one, but two, strong brands, with strong operators within each. Over time, by integrating parts of our networks, we can operate more efficiently, achieve even lower wait times, expand new products like high-capacity vehicles and payments, and quicken the already remarkable pace of innovation in the region.
This acquisition is subject to regulatory approval in various countries, which we don’t expect before Q1 2020. Until then, nothing changes. And since both companies will continue to largely operate separately after the acquisition, very little will change in either teams’ day-to-day operations post-close. Today’s news is a testament to the incredible business our team has worked so hard to build.
It’s a great day for the Middle East, for the region’s thriving tech sector, for Careem, and for Uber.
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Whether you trek after mountain gorillas in Rwanda, Uganda or the Congo, the most convenient international airport is in Rwanda’s capital city, Kigali. There are direct flights from Dubai a couple of days a week with RwandAir. Otherwise, an indirect route is available via Nairobi with Kenya Airways. Flydubai flies to Kinshasa in the Democratic Republic of Congo, via Entebbe in Uganda. Expect to pay from US$350 (Dh1,286) return, including taxes.
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