Mon 16-10-2023 22:00 PM
ABU DHABI, 16th October, 2023 (WAM) — Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, held several high-level meetings with global ministers and government officials during the opening day of the 8th World Investment Forum (WIF), the biennial multi-stakeholder gathering organized by the United Nations Conference on Trade and Development (UNCTAD), which is being held in Abu Dhabi between October 16-20. The meetings focused on mobilizing the necessary capital to confront current and emerging developmental challenges.
Held under the theme “Investing in Sustainable Development”, the World Investment Forum is gathering key stakeholders, from national leaders to international organizations and the CEOs of leading companies, to the Abu Dhabi National Exhibition Centre (ADNEC) to address pivotal issues such as food security, energy transition, health systems and supply-chain resilience, as well as develop productive capacity in developing nations.
Commenting on the event, Al Zeyoudi said: “The UAE see incredible long-term economic value in strategic investments that can propel our capabilities in high-potential sectors such as clean energy, healthcare and low-carbon logistics and transport. We are delighted to be able to host an event that can make such an important contribution to these funding requirements – both in terms of tapping into resources and determining their optimum use. The UAE has always sought to mobilize resources to support development projects around the world, ranking 15th globally for FDI outflows in the UN’s World Investment Report 2023 with US$25 billion invested in 2022, a 10% increase on 2021. We are looking forward to the conversations and commitments that will take place this week – and taking more strides towards a sustainable, equitable future.”
Al Zeyoudi underscored this message during a series of bilateral meetings with senior government officials on the opening day of the event. These included talks with José Ramos-Horta, President of Timor-Leste, and Rebeca Grynspan, Secretary General of UNCTAD, in which he restated the UAE’s belief in trade and investment as key drivers of socioeconomic development, and that energy, digital and communication infrastructure and logistics in the Global South represent opportunities that can deliver multi-level rewards.
Dr Thani also met Mustafa Varank, Member of the Grand National Assembly of Türkiye and Chairman of the Türkiye-UAE Parliamentary Friendship Group, during which he discussed the prospects for accelerating bilateral investment flows in light of the UAE-Türkiye Comprehensive Economic Partnership Agreement, which came into force in September. He also met Manuel Tovar Rivera, Minister of Foreign Trade for Costa Rica, and Marko Cadez, President of Serbia’s Chamber of Commerce and Industry.
Additionally, Al Zeyoudi spoke with Vahan Kerobyan, Minister of Economy for Armenia, where the two ministers explored furthering trade and investment exchange in sectors such as healthcare, ICT, infrastructure and logistics. This was followed by meetings with HE Malaythong Kommasith, Minister of Industry and Commerce for Laos, and Kudratov Laziz Shavkatovich, Minister of Investment, Industry and Trade for Uzbekistan.
UNCTAD’s 8th World Investment Forum is supported by the Ministry of Economy and the Abu Dhabi Department of Economic Development (ADDED) as lead partner. It is taking place at the Abu Dhabi National Exhibition Centre until October 20th, and bring together heads of state, government ministers, sovereign wealth fund managers, private sector executives, stock exchanges, media, academics, investment treaty negotiators and heads of international organizations to revitalize investments to meet development needs.
Tariq Al Fahaam/ Hatem Mohamed