Siemens contributes Dh4.5bn to UAE economy

After almost four decades of operating in the UAE, Siemens has quantified its contribution to society through its operations in a report entitled, "In the UAE, for the UAE – Making real what matters".

The findings illustrate the company’s commitment to the country in line with the UAE’s vision for a diversified, sustainable future.

Through its operations across different sectors, Siemens AG contributed Dh4.5 billion in direct and indirect gross value added to the economy during the fiscal year, 2015.

Out of that, 90 percent was in non-oil sectors, reflecting its support for the country’s strategy of economic diversification away from hydrocarbons. Siemens directly employs 2,600 highly-skilled workers of more than 80 nationalities and enables 15,600 jobs in the UAE.

In infrastructure, Siemens’ technology provides 40 percent of the UAE’s power generation capacity, supplying electricity to 3.6 million residents. It also enables the delivery of 75 percent of the country’s daily water supply.

"As the UAE approaches its 50th anniversary, we recognised that only by carefully considering what is important to the government and the people of the UAE could we really evaluate our success as a company," said Dietmar Siersdorfer, CEO of Siemens in the Middle East and UAE.

"By bringing energy efficient, resource-saving technology to all our projects, our contribution to the UAE’s dynamic and visionary journey continues."

To ensure sustainable development while preserving the environment and to strike a balance between economic and social development, the UAE has outlined its plans for the future in 'UAE Vision 2021 National Agenda'. It focuses on improving air quality, preserving scarce water resources, boosting the contribution of clean energy and executing green growth plans.

Siemens’ Middle East headquarters at Masdar City in Abu Dhabi is a regional benchmark in energy efficient infrastructure, with an average of 55 percent energy savings and 47 percent water use reduction compared to standard office buildings in the country.

The UAE recently announced its Energy Plan for 2050, which outlines an investment of Dh600 billion to meet its energy requirements sustainably by balancing energy production and consumption. Its future energy mix will include clean coal, gas, nuclear, solar and wind power, and biofuels.

With its smart building technology, Siemens estimates there is potential to save 40 percent of the energy used for cooling in the UAE during peak summer months.

The UAE has declared 2017 as the #Year of Giving. As part of giving back to society, contributing to knowledge transfer and developing local skills, Siemens provided education and training programmes to 150 young Emiratis during 2015.

This effort supports the country’s ambitions for developing a diversified and flexible knowledge-based economy powered by skilled Emiratis and strengthened by world-class talent.

Follow Emirates 24|7 on Google News.