Focus Volume 106 Winter 2023

Quarterly Newsletter

Why need to think of sustainability?

Focus Volume 106 Winter 2023

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 spillover 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.

With the strength of different partners, financial institutions beyond the boundaries get attracted at competitive terms. Other areas like procuring materials, talents and manpower mobilization will also become much easier and attracts best requisites.

Even for a small player, participation with sustainable projects will provide a strong continuous revenue stream. Small companies may also look for long term and sustainable growth. Thus, playing smart and maintain strong relationship all around are vital ingredients of success with sustainability. The opportunity will also come for both horizontal and vertical expansions as the project progress for all players.

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Khalid Maniar
Founder & Executive Chairman