During the last day of the World Government Summit Dialogues held in Dubai, Dr. Christian Bruch reprimanded the energy industry. The Siemens Energy president and CEO said that the global crisis highlighted that the sector lacked some aspects and had no choice but to rise to the occasion. He encouraged governments and companies to work together so that they can identify ways of rebuilding an energy infrastructure that’s relatively equitable by the end of this decade. The developments should be in line with adapting from the lessons learned during the pandemic.
He further elaborated on the inequality in the energy sector, which is something worth thinking about, no doubt. Bruch acknowledged how divided the world is as far as energy is concerned. Some of the issues include a lack of knowledge on investing in the sector and uncertainties of whether the investments will pay off eventually. That said and done, he warned that a change is necessary since the old methods are no longer effective. Another one of his concerns is the rate at which oil companies are changing their names to something like so and so energy companies. After all, unless we consider sectors as well as technologies, we are not headed in the right direction. On the contrary, the energy transition will remain a dream that will never see the light of the day.
On the other hand, FutureMap founder and one of the managing partners, Dr. Parag Khanna, talked about the future. He said that soon everyone from all corners of the world would be considering investing in Asia, and the change is inevitable for that matter. He didn’t fail to appreciate Dubai and UAE’s strides, proving that an intelligent transformation is possible. Therefore, it goes without saying that Asia has a lot to learn from them. According to him, Asian economies are recoveries faster than those of other countries and regions post coronavirus global pandemic. That shows its validity for anyone looking for a promising global economy. The fact that it handles the hard times resulting from the pandemic remarkably also speaks volumes regarding Asia.
UAE economy expansion is a result of shaping an advanced digital infrastructure with the help of innovative and smart technologies. The efforts bore good fruits, and it is now a great role model globally. Dr. Khanna is hopeful that East and West Asia’s connectivity will continue even after the pandemic is over. He has several words for the collaboration, including the Green Silk Road, the Digital Silk Road, and the Iron and Silk Road.