The UAE ministry of energy has unveiled details of its 2008-2010 strategic plan, Emirates News Agency (WAM) reported.
The plan includes 16 key initiatives, the most significant perhaps a proposal for a nationwide regulatory framework for the water and electricity sector.
Minister for energy Mohammed bin Dha'en Al Hamili said the framework would hinge on the main principle of protecting the national coffers and the rights of consumers, while simultaneously protecting the rights of investors. There were also a reported 25 secondary initiatives.
Under the new plan, studies will be carried out with a view to updating strategic oil reserves and developing water and electricity services through attracting private investment. The ministry wants to compile a comprehensive database on oil, mineral, water and power resources in order to assess the country's capabilities and prepare forecasts. It will also closely review the GCC General Secretariat's study on water cooperation.
"The UAE's rapid progress necessitates meticulous planning to ensure the fast-paced social and economic developments are effectively sustained," said Al Hamili.
"Renewable energy research initiatives will be among the ministry's prime objectives. The ministry is vigorously pursuing efforts to gather relevant information and statistics to support research programmes. We are keen on promoting alternative energy resources as an essential prerequisite for sustainable development."
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