Focus Vol 106

Why need to think of sustainability?

Now that the dark clouds of the pandemic have passed and the return of business activities are almost as usual, the corporate think tank is busy in drawing at least short to medium term growth strategies with sustainability.

Looking at the government level strategies, we will find the officers busy in formulating policies to achieve sustainability. To bolster the country's shift to a circular economy, UAE is launching number of projects and as per their philosophy they are also inviting private sector participation from both within and out of UAE. Should any project sector is relevant or within your corporate sector, to participate solo or even with the foreign player as a joint venture would provide excellent opportunity for sustainable growth.

Having recognized that most projects are of long-term nature and that the prime objects of the government from such projects is to attain a sustainable economic development.

One of the recent examples is the plan to establish a plastic recycling plant in Abu Dhabi, which would significantly reduce plastic waste and spur economic growth through the export of food grade recycled materials. Involvement or participation in such huge projects also provide an excellent opportunity to enhance internal technology facilities.

If one can participate in such a large investment, automatically it is achieving a sustainability through the project itself and some spill over impact may also come upfront. Large long-term projects take shape after great deliberation and thought process. To make such project viable and competitive, collaboration becomes a key driver which fetches the innovation, technologies and exchanges of ideas and options.

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