Middle East Business

Renewable Energy Employs 9.8 million People Worldwide, New IRENA Report Finds.

Global energy system creating more jobs in renewables than in fossil-fuel technologies
More than 9.8 million people were employed in the renewable energy sector in 2016, according to a new report from the International Renewable Energy Agency (IRENA). Renewable Energy and Jobs – Annual Review 2017, released at IRENA’s 13th Council meeting, provides the latest employment figures of the renewable energy sector and insight into the factors affecting the renewable labour market.

“Falling costs and enabling policies have steadily driven up investment and employment in renewable energy worldwide since IRENA’s first annual assessment in 2012, when just over five million people were working in the sector,” said IRENA Director-General Adnan Z. Amin. “In the last four years, for instance, the number of jobs in the solar and wind sectors combined has more than doubled.
“Renewables are directly supporting broader socio-economic objectives, with employment creation increasingly recognised as a central component of the global energy transition. As the scales continue to tip in favour of renewables, we expect that the number of people working in the renewables sector could reach 24 million by 2030, more than offsetting fossil-fuel job losses and becoming a major economic driver around the world,” Mr. Amin added.

The Annual review shows that global renewable-energy employment, excluding large hydropower, reached 8.3 million in 2016. When accounting for direct employment in large hydropower, the total number of renewable-energy jobs globally climbs to 9.8 million. China, Brazil, the United States, India, Japan and Germany accounted for most of the renewable-energy jobs. In China for example, 3.64 million people worked in renewables in 2016, a rise of 3.4 per cent.

IRENA’s report shows that solar photovoltaic (PV) was the largest employer in 2016, with 3.1 million jobs — up 12 per cent from 2015 — mainly in China, the United States and India. In the United States, jobs in the solar industry increased 17 times faster than the overall economy, growing 24.5 per cent from the previous year to over 260,000. New wind installations contributed to a 7 per cent increase in global wind employment, raising it up to 1.2 million jobs. Brazil, China, the United States and India also proved to be key bioenergy job markets, with biofuels accounting for 1.7 million jobs, biomass 0.7 million, and biogas 0.3 million.

“IRENA has provided this year a more complete picture on the state of employment in the renewables sector, by including large hydropower data. It is important to recognise these additional 1.5 million working people, as they represent the largest renewable energy technology by installed capacity,” said Dr. Rabia Ferroukhi, Head of IRENA’s Policy Unit and Deputy Director of Knowledge, Policy and Finance.

The report finds that globally, 62 per cent of the jobs are located in Asia. Installation and manufacturing jobs continue to shift to the region, particularly Malaysia and Thailand, which has become global centre for solar PV fabrication.

In Africa, utility-scale renewable energy developments have made great strides, with South Africa and North Africa accounting for three-quarters of the continent’s 62,000 renewable jobs.
“In some African countries, with the right resources and infrastructure, we are seeing jobs emerge in manufacturing and installation for utility-scale projects. For much of the continent however, distributed renewables, like off-grid solar, are bringing energy access and economic development. These off-grid mini-grid solutions are giving communities the chance to leap-frog traditional electricity infrastructure development and create new jobs in the process,” Dr. Ferroukhi said.

http://middleeast-business.com

Translation from Arabic (albayan newspaper)

According to a number of experts gathered during the «Global Commodity Outlook Conference IV» in Dubai, February 12, the Arab region has succeeded in coping with economic difficulties.

Dr. Noazisc Mirza, associate professor at the Department of Financial Studies, SP Jain School of Global Management, has confirmed that the region's economies were able to cope with the difficulties of the global economy. Though UAE and Bahrain have succeeded in achieving stability in their balance sheet, Saudi Arabia may face some challenges. The value-added tax, to be introduced  by the United Arab Emirates and other Gulf states in January 2018, will help drive growth in the short term but it is not a source of additional reliable income in the long run.

Mirza stressed that governments need to diversify their sources of income and spend more on infrastructure projects.

These declarations came during a meeting of commodities experts from all over the world at the « Global Commodity Outlook Conference IV» hosted by «Richcomm Global Services» and «Dubai Multi Commodities Centre» in cooperation with « Dubai Gold & Commodities Exchange (DGCX) » and «Thomson Reuters».

The conference was held under the title «Changing the style», and attracted more than 400 people from trade experts and representatives of regulatory bodies and government officials, to discuss the main motivations and barriers in the global commodity market.

Keeping pace with change

Omar Khan, Foreign Office director at Dubai Chamber said; “Dubai as a city is keen on cooperation with its partners, including special communities, to consolidate its position and keep up with the changes in difficult times. It’s main objective is to not only avoid losses, but to achieve gains in the appropriate time and place.

Effects

Sanjeev Dutta, director of the Tea Center and platform Tradeflow in «Dubai Multi Commodities Centre», stated that; “global markets in 2017 are slow in economic growth, and the results of unstable geopolitical conditions and changing regulatory environments are seeing volatile effects. It is up to us now as an industry, to meet these challenges by wisely dealing with them. We need to know how to benefit from our collective expertise so that we can create opportunities. It is our responsibility to play a leadership role in finding the best ways to move forward in opening the door to new opportunities, to thereby enhance confidence in the markets.”

Gaurang Desai, CEO of the Dubai Gold and Commodities Exchange added; “This annual conference on goods is one of the ideas of the company «Richcomm», the strategic partner of the Dubai Gold and Commodities Exchange from 10 years ago. We are firmly convinced that this event represents an excellent platform to promote and deepen communication and meaningful discussions between traders, investors and policy makers, as well as providing important insights and expectations about the performance of the commodities sector and the overall economy during the current year”.

Performance

He further articulated; “We have noted how the commodity sector recorded during the past year has been the best performance among the various asset classes, thanks to the overwhelming participation of international investors to outperform the performance of other more common asset classes, such as stocks.”

The importance of the global commodity market is therefore indisputable, hence the importance of this conference, which included very useful discussion sessions. They helped major players in the market by providing them with the best previsions of the market, especially in the current context of continued economic instability in the world.

On the other hand, Paresh L. Kotecha, General Manager of «Richcomm Global Services» announced that “on the back of Donald Trump’s election as the president of the United States, this year is full of challenges. The global commodity markets are expected to see an unprecedented volatility. The collapse of trade agreements ranging from «the Free Trade Agreement of North America» (NAFTA) through to «partnership agreement across the Pacific» and even the European Union, as well as high economic level of inflation, and low interest rates, a strong dollar, and the expenses of infrastructure, are all of which foreshadows significant tensions between the countries concerned.

Sessions
The conference included the organization of five panel discussions dealing with the outlook for the overall economy, including; energy and agriculture sectors as well as basic and precious metals, in addition to the role of digital technology transactions (blockchain) in the commodities market.

Macroeconomic forecasts

During the panel discussion, Eric Norland, «CMI» Group, highlighted that the global economy is currently in transition, in which markets witnessed a state of optimism since the announcement of Trump’s victory in the American presidential elections in November 2016, as the stock and commodity prices rose until mid-January. But the situation changed when Trump started to effectively exercise his functions. Market indices fell as doubts appeared about the applicability of Trump's agenda on the ground. However ideological differences and his position on specific issues, are two main influences that would make Trump’s mission more difficult than what he thought in the beginning.

Energy sector

Robin Mills, CEO of «moon energy», recalled the historical agreement reached by «OPEC», in relation to the recently announced cost-cutting; “With respect to the «OPEC» agreement, we see that compliance is good at this stage, but the difficulty will increase when the agreement, which lasts for six months, will approach its end. Markets have recovered quickly, while banks have left the door open to take advantage of the available opportunities. Currently the focus is mainly on the Permian basin region in the state of Texas. In the case of high oil prices and the return of shale oil markets again, there will be high ascending limited in overall prices.”

Mustafa Ansari, an analyst in energy research at the Arab Petroleum Investments Corporation (APICORP), said “One of the main goals behind the willing «OPEC» members to cut production, is to reduce oil inventory size, and thus rein in turn oil’s future prices, which will deter shale oil producers from entering the markets again, because of their inability to hedge against future supplies. The geopolitical factor will have a greater impact at time being, especially with regard to the interruption of supplies. In case of failure of the «OPEC» to apply an additional reduction in production after the period of six months, prices may decline slightly.”

The agricultural sector

During the panel discussion on the agricultural sector, James Wilde, president of the company «Louis Dreyfus Commodities» for the Middle East and North Africa, on the soybean market, argued “there is gap in the United States between soybean producers and the US Department of Agriculture, and we expect that exports will fall as a result of the pressure on prices”. Adding to his point of view about Trump's policy and its impact on the agricultural sector, he said: “the fate of the North American Free trade Agreement (NAFTA) and the idea of ​​taxing Mexico’s exports, will be the major challenges, especially since Mexico is a huge market for the United States. The willing of Trump to apply a protectionist economic policy will affect negatively on the US farmers and the agricultural sector, as it would cause an increase in prices, especially if China would apply its own ban plan.

It is possible that the South American countries will contribute to compensate a specific part of the production volume, and thus protectionist policy will be the biggest enemy of trade flows in the United States.”

Basic and precious metals

Two panels discussed a wide range of important issues, including Trump’s impact on infrastructure spending plans. They also raised concerns for its impact on prices and the balance of supply and demand; as well as the classification of gold as a metal or currency, in light of the success of the digital currency «Bitcoin».

The panels included a major talk on the base metal, which is expected to rise, starting from the fourth quarter of 2016, with continued improvement in investor sentiments. Analysts believe that the continued expansion of the Chinese economy, coupled with the desire of President Trump to increase civil spending in all parts of the United States, may have the greatest impact on base metals. However, there are still significant risks due to the growing political tensions and weak private investment, amongst other factors as well.

Optimism

The speakers expressed their optimism during the two discussion sessions about the precious metal's performance in 2017. Currently, the market is witnessing a positive impact of Trump’s victory, where prices rose between 4-10% since the beginning of January. However, there are still high levels of uncertainty at the global macroeconomic level due to political instability and the major upcoming elections in Europe, which is expected to spur higher gold prices, after falling to its lowest level in 12 months in December 2016.

Source: translated from Arabic www.albayan.ae.

By Ayman Abualkhair

(النسخة العربية)

In one of our recent articles we discussed the digitalisation of our society, or what it is also known as, the 4^th Industrial revolution. It is characterized by a fusion of technologies that blurs the lines between the physical, digital, and biological spheres…The phenomenon transforms the entire system of production, management, and government, and even impinges on the basic notion of the market place and trade. Essentially, the 4^th industrial revolution is shaping the entire way we do business.  

Switzerland is preparing itself for this upcoming industrial revolution. Even far in the Arabic peninsula, another partner who emerged from the desert is already seizing the opportunity, to transform its processes. Dubai, the city of gold, is looking forward to being a smart city with a knowledge-based economy.

In fact, Switzerland and UAE have several similarities. Both are strongly competitive, leaders in innovation, and are attractive for skilled people, investors, and tourism. Switzerland is a leader in terms of innovation, and it is prepared to consolidate its position in light of industrial changes.

Switzerland’s economic force stems from huge, innovative SMEs (about 95% of Swiss companies are SMEs) and the diversity of its economy. UAE has also managed to diversify its economy far from petrol, which dominates the economic scene in the region.

The cooperation between Switzerland and UAE is very strong and becoming more and more important. UAE is the first trade partner of Switzerland in the Arab world, and there are many joint projects as well. The applied science institute EPFL, for instance has a branch in UAE and Switzerland has Business Hubs in Dubai and Abu Dhabi.

Dubai is a place of innovation. It has six dimensions that comprise the Smart Dubai initiative. They cover Smart Economy, Smart Living, Smart Environment, Smart Governance, Smart People and Smart Mobility.

These similarities between Switzerland and UAE are very interesting when it comes to deal with the new industrial revolution. In this context we had the pleasure to interview a very dynamic personality in the economy of the region.

H.E. Hamad Buamim, President and CEO of Dubai Chamber of Commerce and Industry, enlightened us with his vision and the preparations undertaken by Dubai Chamber in order to cope with the new industrial paradigm:

How big is the UAE’s digital economy and where do you see the most growth potential within its e-commerce sector? (e.g. Internet of Things, 3D printing, simulation, big data and analysis, etc.)

Hamad Buamim: The UAE leads the Middle East in digitalisation which aligns with the National Innovation Strategy and the UAE Vision 2021. This vision identifies technology as one of the top seven primary national sectors.  Efforts are ongoing within the country’s public and private sector to fully transition towards e-Services and eventually transform into a knowledge-based economy.

Looking at progress within Dubai specifically, it’s clear that the emirate is well on its way to becoming one of the smartest cities in the world.  Innovative technologies are being utilised to improve the lives of citizens, and residents in line with the vision of H.H. Sheikh Mohammed Bin Rashid Al Maktoum, UAE Vice President and Prime Minister and Ruler of Dubai. A recent report from Cisco and the Government of Dubai estimated that the public and private sectors stand to benefit from a AED 17.9 billion opportunity through the adoption of Internet of Everything (IoT) technology by 2020, which is critical to establishing the foundation of any global smart city.  

Several areas of the digital economy have massive potential for growth. For instance, in 2016, the UAE announced plans to develop and exploit 3D printing, with the aim of revolutionising the construction industry. The emirate’s government also recently set an ambitious target to make a quarter of all transportation driverless by 2030. Meanwhile, the government has unveiled strategic initiatives to accelerate progress in this areas, such as the Dubai Future Accelerators and the Sheikh Mohammed bin Rashid Al Maktoum Fund to Finance Innovation.

In addition, most government services in the UAE are now accessible via mobile devices, and the target usage rate of smart services has been increased to 80% by 2018. Beyond trade and investment, the UAE is playing an important role as a knowledge and technology hub for the wider Middle East region. Some of the world’s most innovative companies are choosing to test out their new technologies and solutions in the UAE, while many have opted to build data centres here.

-What is your long-term outlook for the e-commerce sectors in the UAE and GCC region?

Buamim: E-commerce is one of the main engines of growth that’s driving the Middle East’s digital economy. A recent report by online payment provider Payfort stated that the Middle East’s e-commerce market is set to nearly triple in value, from $25 billion in 2015 to $69 billion by 2020. Three of the region’s biggest economies, Saudi Arabia, Egypt and the UAE are expected to see a lot of momentum within the sector.

The UAE, which has the biggest share of the region’s e-commerce market, will see the value of its e-commerce market grow to around $10 billion by 2020 as more businesses build and expand their online presence, while new businesses in the space will create new job opportunities.  At the same time, Saudi Arabia and other GCC markets are forecast to see steady growth within this market.

Yet, there remains untapped potential in the sector amid the evolving needs of the region’s tech-savvy and predominantly young generation that is increasingly turning to Smartphone and mobile devices to shop and access services. This is not to deny that there are not challenges in this sector, but considering the growth in disposable income, fast-growing population in the GCC, and the high smartphone and Internet penetration within these markets, the long-term outlook looks quite positive.

-What are the biggest challenges facing this sector?

Buamim: Challenges and market gaps are a natural part of any fast-growing e-commerce market, especially within emerging markets.  For example, within the UAE and other Gulf countries, online spending is relatively low when compared to developed economies. This is due to a number of reasons including concerns over online payments, as well as consumers’ preference to shop at traditional malls. This means that many merchants still have to deal with cash transactions. At the same time, the high cost of logistics services such as shipping and importing products, and the lack of well-established addressing systems have created some obstacles for e-commerce players.

-What are the conditions for opening a company in the digital sector? Is there any aid given in this sector?

Buamim: The UAE has served as launch pad for some of the region’s most successful e-commerce and digital businesses such as Souq.com, Careem, and Fetchr, to name a few. The country continues to attract startups from around the region in search of new growth opportunities, and it does so by providing them with a supportive business environment that enables companies to set up with little hassle.

The government is continuously looking to new ways to support this sector and foster innovation and business growth among SMEs and startups, which remain the backbone of the country’s economy. For instance, the Dubai Industrial Strategy 2030 was launched by H.H. Sheikh Mohammed bin Rashid Al Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai, to elevate Dubai into a global platform for knowledge-based, sustainable and innovation-focused businesses. In addition, the AED 1 billion Dubai Future Accelerators programme was also recently launched, which is a competitive scheme that pairs government departments with innovative companies to find solutions to existing challenges.  

For its part, the Dubai Chamber of Commerce and Industry provides a wide range of e-commerce support and services for businesses in the emirate, such as a training sessions, market intelligence, our Trusted Member Label, and access to Alibaba.com, which has opened up the door for companies to expand their activities online. We have also established partnerships with local and international companies and organisations in recent years to promote knowledge sharing and accelerate progress on Smart City initiatives, with the aim of improving efficiency, competitiveness and ease of doing business in the emirate.

-How is Dubai Chamber supporting the emirate’s vision to become a knowledge and innovation hub for the region?

Buamim: As a leading representative of Dubai’s private sector, Dubai Chamber has made innovation a key focus of its 2017-2021 strategy. The Chamber is playing an active role in communicating plans and objectives of the Dubai Plan 2021 to the business community, while it’s encouraging companies to contribute more towards the emirate’s post-oil strategy.  

As part of our efforts to foster a culture of innovation within the private sector, we partnered with PricewaterhouseCoopers (PwC) in 2015 to develop the Dubai Innovation Index, which covers 28 global cities and measures innovation output. The index is an important learning and development tool that enables us to see where progress is being made, as well as key areas where businesses can improve.

In the second edition of the index in 2016, Dubai improved its position and placed 15^th, outperforming business hubs such as Shanghai, Moscow and Madrid. This progress was attributed to an increase in innovation-focused investments and closer cooperation between the emirate’s public and private sectors.

-How does the Chamber assist entrepreneurs and SMEs that want to build and expand their digital presence?

Buamim: We have been focusing a lot on providing the right infrastructure to support entrepreneurs in Dubai and the UAE. We firmly believe that we can enhance and expand the range of value-adding services offered to SMEs and entrepreneurs by better understanding their needs and concerns.

Tejar Dubai provides workshops and training to commercially-minded youth that gives them a unique opportunity to experience the entrepreneurial cycle and learn what it takes to start and grow a business. Participants are provided access to investment capital, mentoring and networking, allowing them to focus on establishing their own businesses.

The Chamber is working to nurture and develop the entrepreneurial ecosystem through the Dubai Startup Hub and the Dubai Smartpreneur Competition. The Smartpreneur Competition, launched in collaboration with Smart Dubai Office, has become an important platform for generating innovative ideas that support Dubai’s transition to a smart city.

The Dubai Startup Hub, established in 2016 in collaboration with IBM, connects startups, entrepreneurs, developers, venture capitalists and students, enabling them to learn about new opportunities and create new partnerships that accelerate innovation and stimulate the local economy. The hub allows the local community to interact with cloud technology in new ways, with special offers for startups to join IBM’s Global Entrepreneur Program, which provides mentoring, support and access to development tools and cloud resources via IBM Cloud. This interactive cloud environment is the first digital home for Dubai’s tech scene where virtual visitors can learn about new job opportunities and local tech news; sign up for tech-focused events, classes and meet-ups and more.

-Will Dubai Chamber be planning any events in the near future that focus on the digital economy and entrepreneurship?

Buamim: The Chamber regularly organise events and workshops, and seminars that focus on e-commerce, entrepreneurship and innovation under our various initiatives and programmes. These events provide businesses and startups with the tools, knowledge and tools they need to succeed. We are constantly looking to create more value for our members through strategic partnerships. Recently, we signed a MoU with the Hamburg Chamber of Commerce to promote innovation and IoT through mutual cooperation. We organise workshops with Alibaba to help companies get practical tips and strategic insights on how to make the most out of their presence on the platform. In addition, through our Tejar Dubai initiative, we work with other organisations, such as the Dubai Silicon Oasis Authority and the Dubai Technology Entrepreneurship Centre to help companies enter this arena.

فانسا سوبيليا، نائب مدير غرفة جنيف للتجارة والصناعة والخدمات، عضو مجلس ادارة الاتحاد العالمي لمجلس الغرف التجارية (يضم 12000  غرفة في 130  دولة، ومقره باريس)

اجرى المقابلة ايمن ابو الخير

(French)

نظرا لأهمية منطقة الخليج العربية، تقوم غرفة جنيف للتجارة والصناعة بتنفيذ عدة رحلات اقتصادية. كانت اخر زيارة قامت بها الغرفة ضمن وفد برئاسة رئيس بلدية جنيف، غيوم برازون، وهو أيضا عضو في البرلمان السويسري الوطني (في اللجنة الاقتصادية). حيث قام الوفد بزيارة الى عدة دول خليجية في تشرين الثاني/نوفمبر الماضي.

Vincent Subilia, directeur adjoint de la Chambre de commerce, d’industrie et des services de Genève (CCIG), membre du Conseil général de la Fédération de la Chambre mondiale des Chambres de commerce (réunissant 12 000 Chambres dans 130 pays, avec siège à Paris)

 (بالعربية)

Propos recueillis par Ayman Abualkhair

(lire égalemen: Les relations commerciales entre la Suisse et le Conseil de Coopération des États du Golfe (CCG))

Vu l’importance de cette région, la CCIG y a effectué plusieurs déplacements ; le dernier en date a consisté en une délégation conduite par le maire de Genève, Guillaume Barazzone, également conseiller national (siégeant au sein de la Commission de l'économie). Celle-ci s’est rendue en novembre dernier dans plusieurs pays du Golfe ; la CCIG y fut représentée par Vincent Subilia.

alarabiya.net

According to the web site of Alarabiya.net, Saudi Arabia is ready to implement a region-wide value added tax, the cabinet confirmed on Monday, giving final approval to the measure which will take effect next year.

(Photo: www.albayan.ae)

نقلا عن وكالة انباء الامارات

تستضيف دولة الإمارات مبادرة الدول السبع الرائدة في التحول إلى التعلم الذكي.. بحسب ما أعلنه أنتوني سالسيتو نائب رئيس قطاع التعليم في "مايكروسوفت" خلال منتدى التعليم العالمي الذي أقيم في لندن على هامش معرض بريطانيا لتكنولوجيا التعليم والتدريب.