Friday, 24 March, 2023

United Arab Emirates establishes $820M fund to advance home space industry

<p>Through a huge new fund, the United Arab Emirates will invest more than $800M in space programs. It is the initial expenditure made in the development of a constellation of remote sensing satellites. The nation is looking to the space sector to help diversify its oil-dependent economy, as shown most recently by the establishment of the 3B AED ($820M) National Space Fund. The fund will actively promote partnerships between foreign and domestic businesses.</p>