Abdullah Bin Touq Al Marri, Minister of Economy, expected the UAE national economy to grow by 5% to 6% in 2025, driven by strong performance in vital sectors like technology, renewable energy, trade, financial services, and infrastructure sectors.
He highlighted that continued growth is a clear indication of the national economy’s ability to sustain high and sustainable expansion compared to advanced economies. He further stated that the UAE has a clear economic strategy that includes the circular economy, the space economy, and emerging economic sectors, in addition to exploring new economic blocs, forming partnerships, and attracting foreign investments.
He added that, thanks to the leadership’s vision and directives, the UAE’s economy enjoys high resilience and robustness in facing global challenges while maintaining sustainable growth. This is supported by clear strategies that strengthen the new economic model based on knowledge, innovation, and advanced technology.
World Bank forecasts 3.4% growth for Gulf economies in 2025: The World Bank projects that the economic growth rate of Gulf countries will reach 3.4 per cent in 2025, rising to 4.1 per cent in 2026, compared to an expected 3.3 per cent growth rate for the Middle East and North Africa (Mena) region as a whole.
Ousmane Dione, World Bank Vice President for the Middle East and North Africa, stated that while the region’s economic outlook remains positive, growth rates will vary between oil-producing and oil-importing countries.
He noted that Gulf economies benefit from substantial investments in non-oil sectors, providing them with a competitive advantage over countries struggling with geopolitical instability.
In a separate context, Dione discussed the Memorandum of Understanding signed between the World Bank and the Mohamed Bin Zayed Water Initiative. He stated that this partnership aims to address water security challenges in the region and beyond.
He also highlighted that the Mena region accounts for approximately 55 per cent of the world’s desalinated water production. However, he emphasised the importance of exploring alternative solutions such as water reuse, improved resource management, and integrating artificial intelligence and modern technologies to track leaks and enhance smart irrigation systems for greater efficiency.
Bolivia banks on its largest lithium reserves to attract FDI: Alejandro Baldivieso, Bolivia’s Minister of Hydrocarbons and Energy, affirmed that his country is pursuing an ambitious energy transition policy aimed at enhancing renewable energy sources and utilising its natural resources, particularly lithium.
Baldivieso noted that Bolivia currently relies on an energy mix consisting of 67% thermal energy and 33% renewable energy. However, the country has devised an ambitious plan extending until 2033, aiming to increase the share of renewable energy to 65%.
He explained that this plan focuses on expanding solar, wind, and hydroelectric power capacities, leveraging Bolivia’s natural resources, such as high solar radiation levels in the western regions and air density in the eastern areas.
The minister added that Bolivia holds some of the world’s largest lithium reserves, providing it with a strategic advantage in achieving a sustainable energy transition. The availability of lithium plays a crucial role in developing the storage capacities necessary to ensure the stability of renewable energy sources.
Regarding cooperation with the UAE, Baldivieso confirmed that Bolivia has held several meetings with Emirati companies interested in investing in renewable energy.
He also highlighted Bolivia’s geographical location at the heart of Latin America, which grants it significant potential for exporting clean energy to neighbouring countries, thereby enhancing opportunities for international cooperation in the sector.
As part of efforts to strengthen this collaboration, the minister announced the organisation of a specialised workshop in the near future. This workshop will cover three main areas: the oil and gas sector, focusing on refining and distribution operations; the renewable energy sector, particularly solar, wind, and hydroelectric power; and the lithium sector, where investment opportunities and collaboration with global companies and Emirati investment funds will be explored.
United Arab Emirates Dirham Exchange Rate
