UAE’s Tawazun Economic Council (Tawazun) has signed a Memorandum of Understanding (MoU) with the region’s flagship satellite services operator, Yahsat, to establish a new company to develop “critical in-country capabilities” for advanced satellite communications.
According to the MoU, the new company will develop technologies and make products in the three core streams, such as Aeronautical Satcom Technologies, Satellite Modem Technologies, and Enablement of other Satcom Products and Technologies. The first project includes creating a multi-platform satellite modem for government and defense sectors in the UAE and globally.
As per the company statement, Yahsat will play a pivotal role in ensuring that the new company’s products fulfill the requirements of its government clients with a differentiated and targeted product strategy, allowing the UAE government and other local and international users to address major technology developments.
Further, it will source key product development capabilities from leading solution providers and manufacturers to lay the groundwork for local production lines and integrated supply chain management.
Mr. Musabbeh Al Kaabi, Chairman of Yahsat said, “Yahsat and Tawazun are playing a key role in accelerating the advancement of the satellite communications sector in the UAE, this collaboration is a further testament to our country’s position as a global pioneer across several high growth sectors. These partnerships are vital to the diversification of the UAE’s economy, and we are committed to supporting our UAE Investments’ portfolio companies as they contribute to our nation’s sustainable growth.”
H.E. Tareq Abdulraheem Al Hosani CEO – Tawazun
“At Tawazun, we seek to reaffirm Abu Dhabi’s position as a leading regional hub of strategic technologies and manufacturing. We are excited about the long-term prospects of our collaboration with Yahsat. In less than a decade since it launched its first satellite, Yahsat has grown to be one of the world’s leading satellite enterprises, with an enviable track record of accomplishments that are a source of pride to all Emiratis. Our collaboration stands to gain tremendously from Yahsat’s expertise and connections, spurring innovation and technology development within the UAE.”
“Yahsat has always catalyzed the diversification of the UAE’s economy. We have invested heavily in nation-building through our longstanding partnership with the UAE Armed Forces and various other initiatives, driving growth and new opportunities,” said Mr. Ali Al Hashemi, Chief Executive Officer Designate of Yahsat.
