The UAE is determined to diversify its economy to an optimal level. The recent economic boom in UAE has ignited the rays of hopes for the country. Though, the technology industry is making swift progress, reinforcements are required to provide a profound base to the present economic foundation.
An important step in this direction was achieved when His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minster of the UAE and Ruler of Dubai, announced that the UAE will build its first locally-made satellite at the Emirates Institute for Advanced Science and Technology (Eiast).
This step can be marked as a significant development in the communication sector of the country. In past, UAE indulged in satellite building program with a Korean company, namely Satrec to develop DubaiSat1 and DubaiSat2. The new KhalifaSat will be produced by the local manufacturers from UAE. The intent is making the country self-sufficient in its communication sector and to make the communication within the nation robust. KhalifaSat has been anticipated to be launched by the year of 2017.
Shaikh Mohammad pointed out that this shows how Arabs are moving into the space era, which is neither out of reach nor impossible to achieve. He welcomed sharing the UAE initiative with all Arab countries with interest in space technology and engineering.
Satellite technology as well as the aerospace industry are the sectors which need more investments and the administrators are keen to back such sectors with long term development investments.