Dubai [UAE], February 16: In the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum , Vice President and Prime Minister of the UAE and Ruler of Dubai, and H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai; H.H. Sheikh Mohammed bin Hamad bin Mohammed Al Sharqi, Crown Prince of Fujairah, delivered a keynote address on the concluding day of the World Government Summit 2023.
H.H. Sheikh Mohammed bin Hamad said: "Under the leadership of UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan , and the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, UAE is telling the story of its success to the world through this Summit."
The session was also attended by Ali Asadov, Prime Minister of Azerbaijan and a number of dignitaries, ministers and senior officials.
"We look forward to accelerating the implementation of our advanced strategic plans and sustainable development projects in Fujairah under the directives of H.H. Sheikh Hamad bin Mohammed Al Sharqi, Supreme Council Member and the Ruler of Fujairah. The emirate is taking firm steps to enhance human development, support progress, and contribute to the empowerment of local society."
The Crown Prince of Fujairah said the emirate is working to implement a strategy to support the UAE's developmental transformation.
"Fujairah plays a vital role in providing logistical services globally as a result of its strategic location on the eastern coast of the country. The port of Fujairah is one of the largest oil ports in the country. It occupies the third position in the world in handling oil and its derivatives, and second globally in supplying ships with fuel," he said.
The Crown Prince of Fujairah noted that as part of expansion plans pursued by the emirate, Fujairah seeks to increase the number of petroleum berths for the port from 12 to 23, to raise the volume of petroleum products it handles to 1.4 billion barrels annually.
He said under the directives of H.H. Sheikh Hamad bin Mohammed Al Sharqi, the Government of Fujairah is working to develop the port of Dibba Al Fujairah, and transform it into a multi-use commercial port, at a total cost of AED1.6 billion.
The Crown Prince of Fujairah added that the emirate has succeeded in consolidating its position in the global petroleum industry. The emirate launched the Fujairah Oil Industry Zone (FOIZ) in 2011. Today, the sector attracts leading international companies in the field of energy. The number of reservoirs in the emirate increased from 136 to 380 at the end of 2022 and it has a current storage capacity of 78 million barrels, making Fujairah the leading energy port in the Middle East and among the three largest energy ports in the world," he further noted.
H.H. said the Abu Dhabi National Oil Company (ADNOC) this year, will commission its largest underground reservoir in Fujairah that will store 42 million barrels of oil, at a total cost of AED4.4 billion.
The WGS 2023, which concluded Wednesday, gathered 300 speakers including heads of state, ministers, government officials and thought leaders to discuss pressing issues and review current and future challenges in more than 220 panel discussions. The Summit featured more than 22 international forums focused on discussing the prominent future trends in vital sectors.
Source: Emirates News Agency
