Tawazun Economic Council and the UAEs flagship satellite services operator, Yahsat, has signed a Memorandum of Understanding (MoU) to establish a new company which will develop advanced satcom solutions within the UAE
The MoU was signed during IDEX 2021 by Eisa Al Shamsi, deputy general manager of Yahsat Government Solutions, and Matar Al Romaithi, chief economic development officer for Tawazun, in the presence of H.E. Tareq Al Hosani, chief cxecutive officer of Tawazun; Musabbeh Al Kaabi, chairman of Yahsat and Masood M. Sharif Mahmood, chief executive officer and Yahsat board member.
As part of the agreement, the new company will develop technologies and produce products around three main streams: Aeronautical Satcom Technologies, Satellite Modem Technologies and Enablement of other Satcom Products and Technologies. The company will leverage knowledge and expertise from the UAE, and source guidance from select international experts.
The first seed project entails the development of a protected, multi-platform satellite modem for government and defense markets in the UAE and internationally.
Yahsat will play an integral role in ensuring that the new company's products meet the requirements of its government customers, with the help of a differentiated and targeted product strategy. Yahsat aims to source leading product development capabilities from leading solution providers and manufacturers, to lay the foundation for local production lines and an integrated value chain management.
"Yahsat and Tawazun are playing a key role in accelerating the advancement of the satellite communications sector in the UAE. This collaboration is further testament to our country's position as a global pioneer across a number of 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," said Musabbeh Al Kaabi, chairman of Yahsat.
CEO Tawazun, H.E. Tareq Abdulraheem Al Hosani said: "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."
Ali Al Hashemi, chief executive officer designate of Yahsat added: "Yahsat has always served as a catalyst for 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. In keeping with the Abu Dhabi Economic Vision 2030, we now look forward to commencing homegrown production of advanced communication technologies so that the UAE can achieve its national objectives with greater autonomy. We are grateful to our country's leadership and Tawazun for entrusting us with this opportunity to develop Emirati's to serve the growing space sector."
Tawazun and Yahsat expect to raise the bar for customer satisfaction, among the leading decision-makers in the UAE, GCC and beyond. Their mission is to capture value and establish the UAE as a producer of satellite-enabled defense communication technologies, entrenching its reputation as a sustainable and sovereign space economy.