In a recent gathering of UAE government, the details of the new Space Law of UAE was announced, wherein the Cabinet Resolution for which was issued in last year. The government issued laws and regulatory authority to oversee the space operations in the UAE and to co-relate with the international space laws and treaties.
The new Space Law issued by the government intends to ensure the UAE’s economic growth, enhancement in technology, the wellbeing of society and environmental protection. The world under serious transition, which will offer multiple opportunities to small or multinational companies in the aerospace sectors and UAE being a part of this transition will offer varied opportunities to new investors in the market. The law will be a key factor in opening the entryways for interest in the national space area to different worldwide organizations, because of its authoritative and administrative condition, which furnishes international financial specialists with confirmation in front of beginning their business and services in the UAE.
The Law and its Details
The law is divided into nine chapters entailing 54 articles defining the activities in space and the procedure to control and regulate it. It further outlines the roles and responsibilities of the regulatory authorities implementing the legislations on the companies concerning this sector. It further lays down procedures for the companies to see permits for conducting space activities, registering their objects, insurance policies, accidents that may happen in space, risks involved, obligations of companies working in this sector, governing any facility established on other planets, maintaining the resources of the earth and other planets. The legislators drafting the law has considered almost twenty other international treaties regulating space affairs and space-related objects, and they have critically referred to several countries space law while issuing this law in order to create a nexus and to avoid any international casualty in future. Additionally, this law is in direct relation with other similar law such as Civil Aviation, Commercial Companies, Communications Law and imports/Exports Law.
The new law directs space exercises to encourage the improvement of a prosperous and safe space area in the UAE, which understands our savvy initiative’s vision for the part. It likewise sets out the rights and obligations of authorities and foundations working in this field to ensure the privileges of every single applicable party, in consistence with the universal understandings and arrangements entered into by the UAE. The intention behind the issuance of this Law if to keep up with the rapid advancements in technology in space and relevant/efficient use of all space resources.
Another important feature of the law is that it is in consonance with the UAE 2021 Vision and other long term plans of UAE in innovation and technological sector. This new sector will offer several job opportunities and has indeed offered at present many job opportunities to nationals or residents or foreign investors or expatriates in general. This sector deems to give an economic boost to the UAE market position, and it is a significant element for UAE as it aims in working together internationally and locally.
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