Business

TOKYO — Japan's defence ministry said on Friday it would seek a record $6.7 billion additional spending this financial year to speed up purchases of military equipment, citing the "increasingly severe" regional security environment.

Noting challenges posed by China and North Korea, the ministry said the regional security situation was becoming "increasingly severe at an unprecedented speed".

Japan's military budget has been rising steadily for about a decade and the ministry has already put in a request for next financial year worth $50 billion, maintaining record spending.

But Friday's request seeks to add 773.8 billion yen ($6.7 billion) in a supplementary budget for spending through March 2022, up from the record set in the year ending March 2020 of 428.7 billion yen in extra spending.

The additional money would cover the cost of missiles, patrolling aircrafts, torpedos, helicopters and other equipment, some of which were budgeted for purchase in next year's spending.

But regional challenges require Japan to "speed up the enhancement of missile defence capability and other defence capacity needed for protecting islands in the south-western region", the ministry said.

The spending request will be finalised this month after consultations with the ruling coalition, according to media reports.

In an annual defence paper released in July, Japan said US-China tensions over Taiwan are an increasingly urgent issue that threatens regional stability.

Beijing considers Taiwan part of its territory and has ramped up diplomatic, military and economic pressure on the self-governed island in recent years.

The United States has reacted strongly to Beijing's campaign, putting ally Japan in a tough position between two world powers that are both key trade partners.

But Japan has been increasingly vocal about China's maritime expansion and military build-up, publicly protesting against the presence of Chinese vessels around disputed islets known as the Senkaku by Tokyo and the Diaoyu by Beijing.

Japan's ruling conservatives have set a long-term policy goal of expanding Japan's defence budget beyond 2 per cent of GDP, a ratio that would put it on par with NATO members

That would mark a departure from Japan's political tradition of capping defence spending below 1 per cent of GDP, which stands around $5 trillion.

The status of Japan's military is a sensitive issue as the post-war constitution limits it to a defensive role.

DUBAI – The Mohammed Bin Rashid Initiative for Global Prosperity on Wednesday announced that AeroFarms, a New Jersey-based global leader in indoor farming, as the winner for the Global Prosperity Award, a programme that reinforces corporate social responsibility through science, innovation, and entrepreneurship.

AeroFarms will provide mentorship support to four start-ups that were identified as the most disruptive solutions for the Global Maker Challenge, which concluded in September 2020 and ran challenges focused on Sustainable and Healthy Food for All, Innovation for Inclusive Trade, Innovation for Peace and Justice, and Climate Change, according a statement from the Global Manufacturing and Industrialisation Summit (GMIS).

The mentorship programme will include training on food safety and quality assurance processes, discussions with AeroFarms’ senior leadership team to strengthen organisational structures, ways to improve private sector engagement, as well as support with public relations and branding.

An expert panel led by Policy Links - Institute for Manufacturing at the University of Cambridge selected AeroFarms for presenting customised support plans to help each of the winning innovators overcome their non-financial operational challenges and achieve greater societal impact.

The judging panel also recognised AeroFarms’ leadership and transformative work in agricultural technology. The Global Prosperity Award was announced during The Global Prosperity Conference at EXPO’s Dubai Exhibition Centre on November 24, 2021.

David Rosenberg, Chief Executive Officer of AeroFarms, said: “The Global Prosperity Award presents AeroFarms with the opportunity to give back and help serve as a role model and inspiration on how to push the boundaries of innovation.

“We are looking forward to working closely with these young organisations that demonstrate an immense drive to make transformative changes in the world and help them improve operational competitiveness and commercial growth. Importantly, this collaboration is closely aligned with AeroFarms’ vision of unlocking disruptive ideas to create a more connected, resilient and sustainable planet.”

Established in 2004, AeroFarms is an indoor vertical farming enterprise that works at the intersection of plant biology, agriculture and disruptive technologies to grow fresh produce and distribute them around the world.

The AgTech company recently announced the launch of AeroFarms AgX, a wholly owned subsidiary to develop the world’s largest indoor vertical farm dedicated to cutting-edge R&D based in Abu Dhabi, United Arab Emirates.

The company’s business model addresses 12 of the 17 United Nations Sustainable Development Goals and won the inaugural Global SDG Award for private sector leadership in the advancement of the UN 2030 Agenda, the statement said.

The Global Prosperity Award was formed to encourage global organisations to make a lasting social impact on communities around the world and enable startups to ramp up disruptive solutions addressing some of the world's most pressing challenges.

The award connects entrepreneurs and innovators with experts from partner organisations like AeroFarms.

The four most disruptive solutions identified by the Global Maker Challenge are Agricycle Global, a vertically integrated supply chain to empower rural farmers and connect them to the US market; Algiknit, a creator of eco-conscious renewable and biodegradable fibres and yarns; ID2020, a non-profit organisation that aims to develop digital IDs for billions of undocumented people worldwide; and Ryp Labs Inc. a technology company that aims to reduce food waste by extending the shelf life of fruits and vegetables.

Badr Al Olama, Head of the Organising Committee for the Global Manufacturing and Industrialisation Summit (GMIS), said: “As the world continuously fights to overcome the obstacles caused by the pandemic, it is imperative to leverage disruptive technologies and address societal challenges. By supporting innovators that are creating unconventional solutions to improve the state of the world, the Global Prosperity Award once again underscores the UAE’s commitment towards unlocking new opportunities that can accelerate global good.”

“This is yet another exciting year for the Mohammed bin Rashid Initiative for Global Prosperity. AeroFarms is well-recognised in the technology and food security sectors, and is highly regarded globally for being an innovative and agile organisation. I am confident that the selected makers who have committed so much into creating innovative and bold solutions will benefit from this mentorship programme. I look forward to the day where these solutions are aimed towards tackling the most pressing social, economic and environmental challenges of our times,” he added.

The Global Prosperity Award was announced on the back of a session titled ‘Solving the Mentor-Mentee Equation: Is There a Science to it?’, which was attended by Roberto Croci, Managing Director of Microsoft for Startups, Bruna Braga, Head of Partnership of MIT Solve, Jida Itani, Chief Operating Office for Hub 71, and Moody Soliman, Co-Founder of Ryp Labs Inc.

The session critically examined the core attributes of a successful mentor-mentee relationship in the context of social impact start-ups, drawing on the panel’s experiences, according to the statement. 

Roberto Croci, Managing Director of Microsoft for Startups, said: “Mentorship is what you and your mentee make of it! As a mentor, it is not about having all the answers, it is about displaying empathy, attempting to see things from the mentee’s perspective while not being afraid to probe when things get more intense for your mentee, sharing what you know, including past difficult experiences or situations of your own and translating the unwritten rules and challenges that have helped you develop to where you are now.

“As a mentee, it is about taking initiative in asking for help and advice, coming to the mentor sessions prepared with specific thoughts and topics, discussing your career goals, interests, concerns, issues, or anything on your mind openly with your mentor. Mentorship is about having meaningful conversations and deepening a mutual relationship to search inside yourself and learn from each other, being open to be vulnerable, providing perspective, recognising challenges and seeking for help.”

The Global Prosperity Conference was held during the six-day GMIS Week from November 22-27 at EXPO’s Dubai Exhibition Centre, featuring over 200 global speakers.

DUBAI — The Mohammed Bin Rashid Initiative for Global Prosperity (MBR Initiative) and the United Nations Human Settlements Programme (UN-Habitat) on Wednesday announced the launch of the “Decade of Action Challenge”, to promote sustainable and inclusive urbanisation through innovative solutions, partnerships and transformative ideas.

The two organisations signed a Memorandum of Understanding to support entrepreneurs and startups develop impactful solutions to address the key challenges of urbanisation and advance equitable economic development in cities, in line with the United Nations Sustainable Development Goals (SDGs), according to a statement from the Global Manufacturing and Industrialisation Summit (GMIS).

The 10-year partnership was born as a result of the shared vision and long-standing association between the two organisations to make cities more prosperous while creating a global innovation ecosystem of social impact leaders made up of UN entities, governments, entrepreneurs, investors, philanthropists, academia and the private sector.

The Partnership was announced by Maimunah Mohd Sharif, Executive Director of UN-Habitat, followed by an MoU signed between Erfan Ali, UN-Habitat’s Regional Director for the Arab States and Namir Hourani, Managing Director of GMIS Head of the Global Manufacturing and Industrialisation Summit Organising Committee, during the Global Prosperity Conference at EXPO’s Dubai Exhibition Centre on November 24, 2021.

In a video message, the Executive Director of UN-Habitat Maimunah Mohd Sharif said: “While rapid urbanisation has transformed cities into engines of economic growth, they also present significant human development challenges, including pollution, poverty, income inequality and infrastructure development. Combatting the challenges of urbanisation and generating opportunities for prosperity requires bold ideas, cross-border and cross sector partnerships.”  

Reinforcing the importance of stimulating inclusive economic progress in cities, each cohort of the Decade of Action Challenge will operate in two-year cycles for a total of five cohorts to encourage startups and entrepreneurs to submit innovative solutions.

Both the Mohammed Bin Rashid Initiative for Global Prosperity and UN-Habitat will support the startups in designing and developing market-driven solutions that will be implemented in urban centres across the world through UN-Habitat’s global and country level networks.

Badr Al Olama, Head of the Global Manufacturing and Industrialisation Summit Organising Committee, said: “Digital innovation along with robust policymaking is essential to accelerate sustainable urbanisation and create new opportunities for shared prosperity. Advances in digital technology are rapidly pushing the boundaries of socio-economic development, providing governments, businesses and international organisations with innovative tools to build resilient communities.

“The partnership between UN-Habit and the Mohammed bin Rashid Initiative for Global Prosperity is a significant step towards building innovative cities of the future, as the world prepares for unprecedented levels of urbanisation over the next decade. I am delighted to launch the Decade of Action with UN-Habitat, and pull in entrepreneurial talent from around the world to help cities effectively respond to economic shocks, climate change, and improve competitiveness.”

The 10-year partnership was announced at the end of a session titled “The Decade of Action: A Countdown to Prosperity” that examined the role of public private partnerships, knowledge-sharing initiatives, and financing solutions to identify, nurture and scale impact-driven businesses.

 In attendance was Busi Mabuza, Chair of the Board at the Industrial Development Corporation for South Africa, Fadi Ghandour, Executive Chairman of Wamda, Ibrahima Guimba-Saidou, CEO of National Agency for Information Society (ANSI), Vilas S. Dhar, President of the Patrick J. McGovern Foundation.

The Global Prosperity Conference was held during the six-day GMIS Week from November 22-27 at EXPO’s Dubai Exhibition Centre, featuring over 250 global speakers.

DUBAI — The fourth edition of the Global Manufacturing and Industrialisation Summit (GMIS) concluded Wednesday with an announcement launching GMIS America.

Set to take place in 2022, the inaugural edition of the event will take place in the City of Pittsburgh, homage to some of the manufacturing sector’s most advanced and sustainable innovations in robotics, artificial intelligence, and 3D printing, according to a GMIS statement.

The announcement reflects the summit’s commitment to delivering strategic outcomes and value to its global network of partners through collaborative efforts and ongoing opportunities for growth through the introduction of innovative solutions, read the statement.

The announcement was made by Namir Hourani, Managing Director of the GMIS Organising Committee at the closing ceremony of the fourth edition of the Global Manufacturing and Industrialisation Summit (#GMIS2021).

Moderated by Simin Yazdgerdi Curtis, President, CEO and Founder of the American Middle East Institute (AMEI), the closing ceremony witnessed keynote speeches from Diane Farrell, Acting Undersecretary for International Trade at the US Department of Commerce, and Thomas Wolf, Governor of the Commonwealth of Pennsylvania.

The session wrapped up with a panel discussion between Michael Lordi, CEO of Elliott Group – a Pennsylvania-based turbomachinery company, Petra Mitchell, President and CEO of Catalyst Connection and Board Member of the Advanced Robotics in Manufacturing (ARM) Institute, and Danny Sebright, President of the US-UAE Business Council. Bill Flanagan, Chief Corporate Relations Officer at the Allegheny Conference on Community Development, and Audrey Russo, President and CEO of the Pittsburgh Technology Council, joined the panel virtually.

Hourani said: “With such a strong history in traditional manufacturing, once being a major industrial powerhouse, and the ongoing story of how the city continues to reinvent itself into becoming a centre for advanced technologies and manufacturing, Pittsburgh makes the utmost sense as a location not only for the inaugural GMIS America scheduled for 2022, but also to establish an ongoing annual GMIS America edition in the United States.”

Pittsburgh was the second city in the US to adopt the UN Sustainable Cities preceded by its adoption of the Four Principles encompassing People, Planet, Place and Performance (P4) set forth to index and monitor targeted policy actions.

Its traditional manufacturing legacy combined with strong leadership, quality infrastructure, collaborative mindset, and proximity to two world-class, research-focused universities have allowed the city to reinvent itself as a major centre of technological innovation and advanced manufacturing in the US.

Delivering a special address, Farrell pointed: “At the United States Department of Commerce, we are committed to create conditions that contribute to business and job growth by promoting advanced manufacturing, fostering innovation and increase in trade and investment. In line with the mission brought through by the GMIS platform, we look forward to be part of this great opportunity to foster global collaboration.”

Highlighting Pittsburgh’s successful story of transitioning into a city at the forefront of innovation and advanced technologies, Wolf said: “The mission of the GMIS and Pittsburgh’s unique ecosystem align seamlessly, so it’s an honour to announce that the city will not only host next year’s summit but also establish a long-term, collaborative partnership with GMIS.”

 “Pittsburgh is a city with incredible history that continues to reinvent itself and my administration is committed to fuelling its growth and transformation, bringing new opportunities to both western Pennsylvania and the commonwealth as a whole,” he said.

With the support of the AMEI, GMIS America will be hosted in 2022.

Headquartered in Pittsburgh, Pennsylvania, the American Middle East Institute is set to closely collaborate with the Global Manufacturing and Industrialisation Summit to host the event next year. Upon thanking GMIS for choosing Pittsburgh as its host, Curtis said: “GMIS couldn't have picked a more exciting host than Pittsburgh, a city that has reinvigorated its economy again and again with a unique brand of grit and innovation. I am delighted that the bridge-building mission of AMEI has brought GMIS to our city.”

Commenting on the announcement, Badr Al Olama, head of the Organising Committee of the Global Manufacturing and Industrialisation, said: “GMIS America will showcase the Pittsburgh story to the rest of the world. As a national and global hub for advanced manufacturing, Pittsburgh serves as a perfect example for other cities around the world that are embarking on an advanced industrialisation journey. The Global Manufacturing and Industrialisation Summit was launched in Abu Dhabi in 2017, and has since taken place in Russia and Germany (virtually) before coming to Dubai this year. Extending our reach to the United States was the natural next step for us.”  

DUBAI – Shamma Al Mazrui, the UAE’s Minister of State for Youth Affairs, on Wednesday opened The Global Prosperity Conference at the Global Manufacturing and Industrialisation Summit (GMIS) Week.

In her keynote speech, she highlighted the importance of investing in youth for a future industrial and manufacturing sector that is both sustainable and innovative, according to a GMIS statement.

She said: “Investing in all youth leads to unlimited compound interest and true prosperity. The Global Prosperity Conference is about serving humanity for the long term and investing in the young people who will carry our torches the farthest.

“The UAE’s model of investing in youth is a living case study on the path to real 21st-century prosperity. We listen to youth, act on their ideas, and put them front and centre alongside policy- and decision-makers. We make youth the innovators and creators of our tomorrow.”

Mazrui also referred to the results from the recently published Arab Youth Survey, which she said is proof that the region is “filled with hope and optimism” for the progression of the next generation.

“If you have a hope map, youth are the GPS. Youth if they despair, then we regress. If they hope, we move forward. If they prosper, humanity will profit.”