As part of the Economic Communication visits to review impact of economic initiatives and legislations in growth of country’s Startups

Minister of Economy visits Dibba Bay Oyster farm to review plans for global trade prospects and experience in utilising innovation in Startups

>> Bin Touq: The partnership with the private sector is our main pillar and we will continue to visit leading projects in the country to support growth of activities and increase the UAE’s export capabilities

• Encouraging Emirati entrepreneurs to launch projects based on utilising latest technological innovations.
• Over 300 to 400 thousand oysters are produced by the farm monthly and exports amount to 50 per cent of the production, which are exported to Hong Kong, the Maldives, Mauritius, and Seychelles.

H.E. Abdulla Bin Touq Al Marri, Minister of Economy, visited the Dibba Bay Oyster farm in Fujairah, renowned for producing oysters of the highest quality in the UAE. This was a part of the Economic Communication series of visits made by H.E. to the leading projects across all the Emirates to build effective relationships with the business community and offer incentives needed for sustainable growth and prosperity as they are key allies in advancing the UAE's new economic model in line with the objectives and ‘the principles of the 50’ and the cornerstones of the UAE Centennial 2071.

HE said: “In addition to reviewing successful experiences in establishing businesses, discussing growth plans, opening up new global trade opportunities in the upcoming period, and reviewing perspectives on economic development efforts, we are committed to communicating with the leading companies in the nation. This will allow us to measure the effects of the legislation and initiatives launched by the government on the growth of their commercial activities. Furthermore, this will assist in initiating proactive projects that advance the UAE's economic model, boost sustainable development, and enhance competitiveness of national projects, while satisfying investor desires.”

HE added: “One of the fundamental pillars of our work is collaboration with the private sector, and we will continue to visit the prominent projects across all the Emirates to highlight the government’s support for the private sector and its efforts in accelerating expansion of its activities. Our goal is to boost the private sector's GDP contribution, strengthen the nation's export capacity, increase employment opportunities, and draw in sophisticated technology and people.”

H.E. met with the farm supervisors to learn more about their plans for future investments. He further discussed strategies to expand the business model in the UAE and encouraged Emirati entrepreneurs to launch ventures based on cutting-edge technologies and innovation, as they support domestic production and are in line with the government's policies to increase exports, attract talent, achieve food security, and advance sustainable development goals.

Ramie Murray, Founder and CEO of Dibba Bay, said: “We are proud to be working in the UAE and creating a distinctive and sustainable food product backed by the UAE government, which has emphasised the value of the collaboration between the public and private sectors and provided all the necessary resources for these kinds of projects. This constant support has aided us in our efforts to enter international markets.”

The Dibba Bay Oyster Farm is a significant innovative project for the oyster industry in the UAE. Founded in 2016, the farm comprises 18 hectares of marine concessions, supporting national goals for local and global edible oyster production. The farm cultivates between 300,000 and 400,000 oysters every month, exporting 50 per cent of its production to Hong Kong, the Maldives, Mauritius, and the Seychelles. In the near future, it plans to expand into the markets of China and other Asian nations.

The Minister of Economy also met with a group of Startup CEOs and founders in Abu Dhabi to initiate his series of field trips with a goal of assessing the effects of the nation's recent economic legislation and policies. In order to develop the greatest insights that can promote the sustainability of economic growth in the nation, these visits are expected to continue in the upcoming period.