UAE Business: UAE announces new AED3 billion space sector fund – Gulf Digital News

UAE Business: UAE announces new AED3 billion space sector fund – Gulf Digital News

The UAE Space Agency has announced a new AED3 billion ($816 million) investment and development fund for the space sector, which will support new programmes in leading edge space sector engineering, sciences and research.

The National Space Fund’s first project to be launched to space will be a constellation of advanced remote sensing satellites using radar technologies to provide unparalleled imaging capabilities.

Sarah bint Yousef Al Amiri, Minister of State for Public Education and Advanced Technology and Chairwoman of the UAE Space Agency, said: "A long-term plan and programme for the development of the Emirates’ space sector is in place to create economic opportunities, new jobs and help to fund global partnerships and new leaders in technology, space sciences and engineering here in the UAE. We are planning for a bright future filled with new challenges and openings for our young people – and this fund is precisely targeted at building opportunities for international co-operation in building Emirati enterprises.”

The Fund will actively encourage partnerships between international and local enterprises, providing them with incentives as a part of the UAE Space Agency’s Space Economic Zones Programme.

Salem Al Qubaisi, Director General of the UAE Space Agency said: “The National Space Fund will encourage global