logo
Sustainable, data-driven supply chains imperative to withstand trade disruptions, says Sheikh Nahayan

Sustainable, data-driven supply chains imperative to withstand trade disruptions, says Sheikh Nahayan

Zawya16-04-2025

Smart procurement and In Country Valuation (ICV) have redirected AED 145 billion to the UAE economy since 2018
Dubai, UAE: Reaffirming the UAE's global commitment to sustainability and innovation, His Excellency Sheikh Nahayan Bin Mabarak Al Nahyan, Minister of Tolerance and Coexistence, said data-driven, resilient and sustainable supply chains are imperative to help withstand global trade risks.
Sharing his insights at the International Procurement and Supply Chain Conference (IPSC 2025) in Dubai organised by the global leader in supply chain training and consulting, Blue Ocean Corporation, Sheikh Nahayan said that supply chains must be effective and responsive to rapid change, and should continue to improve.
'We have come to realize the fragile nature of supply chains, and to appreciate that, in this globalized world, we must have supply chains that can respond to freer trade, to technological advancements, to increased automation and use of robotics, and to the forces of market economies. We fully understand that supply chains must be sustainable, resilient, secure, innovative, data and evidence-driven, and cost efficient,' he said in his key note address.
Paying tribute to the nation's leadership, His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the UAE, and His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister, and Ruler of Dubai, Sheikh Nahayan acknowledged their visionary contributions to infrastructure development, economic resilience, and sustainable growth.
Congratulating Blue Ocean Corporation for organizing IPSC, he said that procurement systems and supply chains are susceptible to complexity and vulnerability in the face of unforeseen global circumstances and it is the collective responsibility of governments and businesses to ensure that they remain sustainable, resilient, and beneficial to society and to the wellbeing of the planet.
IPSC 2025 was held under the theme of 'Redefining Global Trade: The UAE Shaping Sustainable Supply Chains for the Future.
Regenerative Supply Chains, Local Economic Growth
Focus on carbon-negative regenerative supply chain models that even goes beyond sustainability practices are a must in the current times of trade to further reinforce circular economy, said Dr. Sathya Menon, Group CEO of Blue Ocean Corporation, at IPSC 2025.
'Regenerative supply chains are increasingly seen as a panacea for trade disruptions like higher tariffs, climate change and geopolitical bottlenecks as it focuses on local procurement leading to reduced burden on logistics and supply chain costs. Local procurement is also carbon negative as sourcing happens locally resulting in reduced carbon emissions, and also comes at lower transportation costs, in turn helping local economy thrive,' he said.
Experts at the IPSC 2025 said digitally empowered and purpose-led local procurement has become a tool of economic empowerment in communities across the world, fostering innovation and ESG (Environmental, Social and Governance) integration. For instance, Dubai's smart strategy through its DubaiNow app platform has unified procurement across over 40 government entities, improving efficiency, vendor experience and public spending transparency.
'Procurement has shifted to national value creation and digital excellence, fostering local supplier growth driving economic diversification and innovation partnerships,' said Nabil Sousou, Vice President & Chief Procurement Officer for Africa, Middle East, and South Asia at PepsiCo, adding that key initiative like the implementation of the In-Country Value (ICV) Program tied to procurement contracts has helped redirect AED 145 billion into the UAE economy since 2018.
IPSC 2025 brought together over 650 international delegates, including procurement experts, policymakers, and industry innovators to discuss on redefining global trade and supply chain ecosystems.
Sourav Ganguly, former Indian Cricket team Captain, and Amruta Devendra Fadnavis, renowned Indian social activist and Chairperson of the Divija Foundation, joined as Guests of Honour, bringing international spotlight to the conference and reinforcing the UAE's leadership in promoting global cooperation.
'Success isn't won alone. It is forged through teamwork and recognizing every teammate's role. Be it in sports or business, true leaders should lift others up,' said Sourav Ganguly, who is also a Board Member at the Blue Ocean Corporation.
Mr. Abdul Azeez, Group Chairman of Blue Ocean Corporation, added: 'More than a trade hub, the UAE is a global pacesetter. IPSC 2025 discussions have laid the groundwork for supply chains that thrive sustainably, and we're proud to drive this momentum forward.'
The next edition of IPSC will be held in New Delhi. Earlier editions were in London, Mumbai, and Riyadh before Dubai.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

UAE, Canada leaders explore ways to boost bilateral ties
UAE, Canada leaders explore ways to boost bilateral ties

Gulf Today

time7 hours ago

  • Gulf Today

UAE, Canada leaders explore ways to boost bilateral ties

Sheikh Abdullah Bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Foreign Affairs, met Mélanie Joly, Minister of Industry and Minister responsible for Canada Economic Development for Quebec Regions, during his working visit to Canada. During the meeting, Sheikh Abdullah discussed the close friendship between the UAE and Canada, explored frameworks for cooperation, and ways to enhance it in a manner that serves mutual interests and contributes to the prosperity and well-being of both nations. The two sides reviewed prospects for cooperation across various sectors, particularly in industry, trade, investment, technology, and renewable energy. During the meeting, Sheikh Abdullah highlighted the importance of joint efforts between the two friendly nations to strengthen cooperation in the industrial sector, building on the strong UAE-Canada ties and the sector's diverse and attractive opportunities that align with both countries' ambitions for sustainable economic development. The meeting was also attended by Reem Bint Ebrahim Al Hashimy, Minister of State for International Cooperation; Dr Thani Bin Ahmed Al Zeyoudi, Minister of Foreign Trade; Sultan Al Mansoori, Envoy of the Minister of Foreign Affairs; Saeed Mubarak Al Hajeri, Assistant Minister for Economic and Trade Affairs, and Abdulrahman Ali Al Neyadi, the UAE Ambassador to Canada. On Friday, Sheikh Abdullah had met Anita Anand, Minister of Foreign Affairs of Canada. During the meeting, Sheikh Abdullah and the Canadian Foreign Minister discussed bilateral relations and means to further develop them across various fields. Sheikh Abdullah and Anita Anand also reviewed opportunities to enhance cooperation in several key sectors, including the economic, educational, investment, trade, technology and energy fields. Sheikh Abdullah reiterated the deep and long-standing friendship between the UAE and Canada, and highlighted the UAE's commitment to further advancing this distinguished relationship, which holds promising opportunities for growth and development in line with the aspirations of both nations for a more prosperous future. Discussions also touched on the latest regional and international developments, with a focus on their repercussions for global peace and security. Also on Friday, Sheikh Abdullah had met François-Philippe Champagne, Canada's Minister of Finance and National Revenue. Sheikh Abdullah and Champagne discussed the distinguished bilateral relations between the UAE and Canada and explored ways to promote them to serve both countries' shared interests and developmental priorities. WAM

H.H. Sheikh Mohammed marks 25 years of Executive Office
H.H. Sheikh Mohammed marks 25 years of Executive Office

Dubai Eye

time11 hours ago

  • Dubai Eye

H.H. Sheikh Mohammed marks 25 years of Executive Office

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has marked 25 years of The Executive Office by thanking the team for contributing to "shaping the future of the nation". "The Office has served as a hub of ideas, a trusted partner in decision-making, a driver of change and a key force in executing our vision for the future," Sheikh Mohammed highlighted in a video posted on social media platform X. "From government and economic strategy to social and technological innovation, the Executive Office reflects Dubai's culture of excellence — accelerating change, enabling new strategies and empowering young talent to reach new heights. "To all who have contributed to the Office's achievements, we extend our sincere appreciation. "We continue to invest in our youth - their ideas spark progress, their energy drives change and their ambition will shape the future of our journey continues — with steady steps and a clear sense of purpose," he highlighted. Mohammed bin Rashid: Today, we celebrated 25 years since the establishment of The Executive Office, together with the team. Over the past quarter-century, the Office has served as a hub of ideas, a trusted partner in decision-making, a driver of change, and a key force in… — Dubai Media Office (@DXBMediaOffice) June 22, 2025 In 25 years, the Office has "driven teamwork and effectively implemented the developmental vision for Dubai". The Executive Office has launched major projects that have driven fundamental transformations, elevating Dubai's global standing, enhancing its international competitiveness, and advancing its economic and social sectors. Among the most prominent of these projects is the Dubai International Financial Centre (DIFC), established in 2004, that is instrumental in shaping the future of finance, achieving record-breaking performance. Active companies within DIFC grew to 6,920, with 1,823 new companies joining in, recording a 25 per cent increase. The workforce expanded to over 46,000 employees, and assets under management reached over $700 billion. The DIFC also hosts family businesses managing $1.2 trillion in assets. Launched in 2020, the Dubai Council drives major transformative projects to elevate Dubai's global standing. It has launched 25 such projects and formed 4 higher committees to oversee impactful initiatives that have spurred significant social and economic progress in Dubai. The Executive Office also houses the Mohammed Bin Rashid Al Maktoum Global Initiatives (MBRGI), which has grown into the region's largest humanitarian, development and community organisation. MBRGI encompasses 30 initiatives and foundations focused on combating poverty and disease, spreading knowledge and culture, empowering communities, and fostering innovation. In 2024, MBRGI invested AED2.2 billion, impacting 149 million people in 118 countries. Among the pioneering initiatives of The Executive Office is Smart Dubai, launched in 2013 and later evolving into the Dubai Digital Authority (Digital Dubai) in 2021. It has spearheaded Dubai's digital transformation, propelling Dubai to first place in the Arab world and Asia, and fourth globally, in the IMD's 2025 Smart City Index. The Executive Office also houses the Dubai Future Foundation (DFF), established in 2016 to spearhead future-focused programmes and projects. Among its most prominent achievements is the Museum of the Future, which has welcomed over 3 million visitors and 40 heads of state since its opening. DFF also established the Dubai Future District Fund, whose investments have contributed AED3 billion to Dubai's GDP. The Hatta Development Plan, another Executive Office initiative launched in 2016, encompasses over 40 initiatives which have significantly impacted Hatta, boosting tourism to 1.5 million annual visitors. The Executive Council of Dubai, also operating within The Executive Office, was established in 2003 to oversee more than 60 government entities. The Executive Council also manages efforts aimed at enhancing the efficiency of government work, improving government services and overseeing the governance of entities under the Government of Dubai. Dubai Holding is another key entity launched by The Executive Office in October 2004, and currently manages AED280 billion in assets, and employs over 45,000 people across 34 countries. The Mohammed Bin Rashid Center for Leadership Development (MBRCLD), also supported by the Executive Office, has graduated over 1,000 leaders and participants since its establishment in 2003, including 9 ministers, 10 deputy ministers, 15 director generals, and 99 executive directors. — Dubai Media Office (@DXBMediaOffice) June 22, 2025 The Executive Office continues to champion numerous other initiatives dedicated to comprehensive development, enhancing quality of life, fostering the knowledge economy, and driving innovation. The Executive Office continues its dedicated work to translate Sheikh Mohammed's vision for Dubai: to proactively embrace future trends and maintain its leadership position. This is achieved through ongoing strategic foresight and development initiatives, and by establishing policies that respond to global shifts and strengthen Dubai's global standing.

Gross banks' assets up by 1.9% to AED4,719.4 bn. at end of March
Gross banks' assets up by 1.9% to AED4,719.4 bn. at end of March

Sharjah 24

time2 days ago

  • Sharjah 24

Gross banks' assets up by 1.9% to AED4,719.4 bn. at end of March

The increase was due to AED5.1 billion growth in currency in circulation outside banks, overriding the AED1.4 billion decrease in monetary deposits. The money supply aggregate M2 increased by 3.3%, increasing from AED 2,360.3 billion at the end of February 2025 to AED2,437.7 billion at the end of March 2025. M2 increased because of an elevated M1, and AED73.8 billion increase in Quasi-Monetary Deposits. The money supply aggregate M3 also increased by 2.9%, from AED2,811.7 billion at the end of February 2025 to AED2,893.7 billion at the end of March 2025. M3 increased due to the growth in M2, and AED4.5 billion increase in government deposits. The monetary base increased by 2.0%, from AED816.6 billion at the end of February 2025 to AED833.1 billion at the end of March 2025. The growth in the monetary base was driven by increases in currency issued by 4.1% and in reserve account by 62.0%, overriding the decrease in banks & OFCs' current accounts & overnight deposits of banks at CBUAE by 64.2% and in monetary bills & Islamic certificates of deposit by 6.3%. Gross banks' assets, including bankers' acceptances, increased by 1.9% from AED4,632.2 billion at the end of February 2025 to AED4,719.4 billion at the end of March 2025. Gross credit increased by 1.6% from AED2,204.3 billion at the end of February 2025 to AED2,240.0 billion at the end of March 2025. Gross credit increased due the combined growth in domestic credit by AED19.5 billion and foreign credit by AED16.2 billion. The growth in domestic credit was due to increases in credit to the; public sector (government-related entities) by 0.2%, private sector by 1.4% and non-banking financial institutions by 1.9%, while credit to the government sector decreased by 0.3%. Banks' deposits increased by 2.3%, from AED2,871.5 billion at the end of February 2025 to AED2,936.4 billion at the end of March 2025. The increase in bank deposits was driven by the shared growth in resident deposits by 2.4%, settling at AED2,687.8 billion and in non- resident deposits by 0.4%, reaching AED248.6 billion. Within the resident deposits; government-related entities deposits increased by 4.3%, private sector deposits increased by 3.1% and non-banking financial institutions deposits increased by 5.1%, while deposits to the government sector decreased by 2.3%, by the end of March 2025.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store