Connect with us

Global Politics

UAE’s Tawazun Economic Council Creates Defence And Security Fund



UAE-based Tawazun Economic Council wants to create a defence and security development fund in the UAE. The Tawazun Economic Council has started a Dh2.5 billion fund to boost investments in defence and security.

After Saudi, UAE Plegdes $3 Billion Support To Pakistan Totalling $6 Billion From The Middle East

The chief executive of Tawazun Economic Council, Tareq Al Hosani emphasised saying, “The Council will set up the fund to support the private sector investments in defence and security and support the development of national and technological industries, including small- and medium-sized enterprises (SMEs)”.

“The Defence and Security Development Fund will play an important role in supporting the private sector to satisfy the strategic needs of the state – through bringing forward innovative solutions”, Hosani added.

Abu Dhabi attempts to create employment and innovation through its defence industry. Abu Dhabi’s strategic investment firm, Mubadala Investment Company has approximately 220 billion dollars assets.

Abdullah Al Jaabari, head of the Defence and Security Development Fund said: “The fund will put emphasis on technology investments and intellectual property to boost innovation, industrial capabilities and the development of SMEs and local companies”.

The fund will soon launch specific financing programmes and will publish the financing duration for each programme. Financing will be based on the strategic importance of a project in the defence and security sector as well as on its economic utility and influence on the local economy. UAE officials are expecting to sign deals exceeding Dh19bn at Abu Dhabi’s International Defence Exhibition to be held next week.

More News at EurAsian Times




S400-VS-F35 S400-VS-F35
Americas6 mins ago

Inside America’s Trillion Dollar Disaster – How The US’ F-35 Jets Emerged From The Ashes?

The United States currently houses the most sought after and probably the most potent fighter jets in the world, the...

Featured49 mins ago

Armenia Threatens To Shoot-Down Turkish F-16s With Russian Iskandar Missiles

In a severe escalation of tensions between Armenia and Azerbaijan, Armenian Ministry of Defense reported that an Armenian jet was...

Sargsian-Armenia Sargsian-Armenia
Expert Reviews10 hours ago

Armenia-Azerbaijan Conflict: Why Armenia Needs To Pull-Out From Occupied-Regions Of Azerbaijan: OPED

The Armenia-Azerbaijan Upper-Karabakh conflict was sparked with the open territorial claims of Armenians to Azerbaijan's historical lands, as well as ethnic provocations in...

Featured11 hours ago

Indian 5th-Gen Aircraft To Be Fast-Tracked As DRDO, French Tech Giant Safran Set To Join Hands

As India looks to build its future fifth-generation fighter within its national boundaries, the country’s Defence Research and Development Organisation...

rafale-jets rafale-jets
Europe11 hours ago

4.5 Gen Rafale Fighter Jets Find A Freakish Challenger In Ageing Italian AV-8B Harriers

With Greece set to receive its Dassault Rafale fighter jets from France, Turkey has also been beefing up its defence...

Capital-of-Israel-Jerusalem Capital-of-Israel-Jerusalem
Featured14 hours ago

How Sworn Enemies Pakistan & Israel Are Supporting Azerbaijan While Armenia Gets Russian & Indian Backing?

The tensions between Azerbaijan and Armenia are at its peak with deadly attacks that shook the Armenian-controlled Karabakh in the...

Americas1 day ago

Not F-35 Jets or F-22 Raptors, This Is The World’s 1st Stealth Aircraft & Still The Fastest Ever

The United States along with Russia are front-runners when it comes to devising modern technology and blending it with state-of-the-art...

Asia Pacific1 day ago

China Could Soon Deploy ‘Unmanned Helicopters’ In Ladakh As Tensions Mount With India

With the diplomatic and military talks in progress between the high ranking officials of New Delhi and Beijing, Indian and...

Capital-of-Israel-Jerusalem Capital-of-Israel-Jerusalem
Featured1 day ago

Three Islamic Countries That May Never Recognize Israel Despite The Acceptance Of Saudi Arabia?

In the wake of the ongoing developments, when clouds of war are hovering over India and China / Pakistan, perhaps...

missile missile
Featured1 day ago

Russian & Israeli Origin Missiles Deployed In Ladakh As India Looks To Keep China At Bay

Amid heightening tensions in Eastern Ladakh with China, India has reportedly deployed BrahMos and Nirbhay cruise missiles along with Akash...