Countries around the world are seriously considering peaceful nuclear energy programs to solve the shortage of energy, according to UAE Energy Minister Suhail Mohammed Al-Mazrouei.
“More than 70 new nuclear energy plants are being constructed in 14 countries and more than 40 responsible nations are considering commencing nuclear energy programs,” Al-Mazrouei said while opening the four-day New Nuclear International Conference (NNIC), which is hosted by the Emirates Nuclear Energy Corporation (ENEC), at the Ritz-Carlton Abu Dhabi Grand Canal. Thirty-four countries are being represented at the four-day conference.
“I recently attended the World Energy Congress and had the opportunity to meet with the world’s energy leaders. I found that countries around the world are announcing that they are considering peaceful nuclear energy programs,” the minister added.
“Peaceful nuclear energy will provide the UAE with a diversified energy mix, delivering reliable electricity while adhering to our responsibility to deliver clean energy for the growth of the nation,” he added.
“In the UAE, we are moving decisively forward with an energy portfolio that is adequately diversified and balances our need for a constant and growing electricity supply with our responsibility to implement cleaner, low-carbon technologies,” Al-Mazrouei added.
Mohamed Al-Hammadi, ENEC CEO, addressing the NNIC delegates during the inaugural session, highlighted the importance of conferences such as the NNIC to provide a platform for nuclear energy officials and energy policy makers from nations around the world to discuss a new future for nuclear energy, as it is a unique technology that is able to provide clean and reliable electricity to responsible nations around the world.
Meanwhile, ENEC on Sunday hosted a group of delegates of the NNIC at Barakah, the selected site of the UAE peaceful nuclear energy program for a site tour. The group, composed of government officials, nuclear energy leaders and experts from around the globe had the opportunity to gain insight of the ongoing construction work of the Barakah site, where the UAE’s first two nuclear energy plants are under construction.
Hosted by Chief Nuclear Officer (CNO) George Vanderheyden and Executive Project and Construction Director Ali Al-Zaabi, the site tour provided attendees with an overview of the complex and extensive construction program under way on site.
Al-Mazrouei: Nuclear programs needed to solve energy shortage
Al-Mazrouei: Nuclear programs needed to solve energy shortage
Kuwait to boost Islamic finance with sukuk regulation
- The move supports sustainable financing and is part of Kuwait’s efforts to diversify its oil-dependent economy
RIYADH: Kuwait is planning to introduce legislation to regulate the issuance of sukuk, or Islamic bonds, both domestically and internationally, as part of efforts to support more sustainable financing for the oil-rich Gulf nation, Prime Minister Sheikh Ahmad Abdullah Al-Ahmad Al-Sabah said on Wednesday.
Speaking at the World Governments Summit in Dubai, Al-Sabah highlighted that Kuwait is exploring a variety of debt instruments to diversify its economy. The country has been implementing fiscal reforms aimed at stimulating growth and controlling its budget deficit amid persistently low oil prices. Hydrocarbons continue to dominate Kuwait’s revenue stream, accounting for nearly 90 percent of government income in 2024.
The Gulf Cooperation Council’s debt capital market is projected to exceed $1.25 trillion by 2026, driven by project funding and government initiatives, representing a 13.6 percent expansion, according to Fitch Ratings.
The region is expected to remain one of the largest sources of US dollar-denominated debt and sukuk issuance among emerging markets. Fitch also noted that cross-sector economic diversification, refinancing needs, and deficit funding are key factors behind this growth.
“We are about to approve the first legislation regulating issuance of government sukuk locally and internationally, in accordance with Islamic laws,” Al-Sabah said.
“This enables us to deal with financial challenges flexibly and responsibly, and to plan for medium and long-term finances.”
Kuwait returned to global debt markets last year with strong results, raising $11.25 billion through a three-part bond sale — the country’s first US dollar issuance since 2017 — drawing substantial investor demand. In March, a new public debt law raised the borrowing ceiling to 30 billion dinars ($98 billion) from 10 billion dinars, enabling longer-term borrowing.
The Gulf’s debt capital markets, which totaled $1.1 trillion at the end of the third quarter of 2025, have evolved from primarily sovereign funding tools into increasingly sophisticated instruments serving governments, banks, and corporates alike. As diversification efforts accelerate and refinancing cycles intensify, regional issuers have become regular participants in global debt markets, reinforcing the GCC’s role in emerging-market capital flows.
In 2025, GCC countries accounted for 35 percent of all emerging-market US dollar debt issuance, excluding China, with growth in US dollar sukuk issuance notably outpacing conventional bonds. The region’s total outstanding debt capital markets grew more than 14 percent year on year, reaching $1.1 trillion.
