UAE – Mubasher: The United Nations Conference on Trade and Development (UNCTAD) will hold its 8th World Investment Forum in Abu Dhabi during 16-20 October 2023, according to a press release.
Held under the theme ‘Investing in Sustainable Development’, the five-day event will gather government leaders, global CEOs, and other investment stakeholders to address key challenges resulting from multiple global crises, including the need to invest in food security, energy, health, supply-chain resilience, infrastructure, and productive capacity growth in the least developed countries.
Furthermore, heads of state and government, ministers, executives of global firms and stock exchanges, sovereign wealth fund managers, and investment treaty negotiators, among others will attend the event.
UNCTAD’s World Investment Forum is the largest global platform for high-level dialogue and action on investment and development.
It aims to outline strategies that tackle global investment and development challenges in order to smooth networking between global leaders in business and politics.
The forum also seeks to anchor public and private action on investment for sustainable development and offer a unique opportunity to foster investment policymaking and shape the global investment environment.
Notably, the forum will take place a few weeks ahead of the United Nations Climate Change Conference (COP28), which will also be held in the UAE this year. It will enable policymakers and other stakeholders to find solutions and reach consensus on priority issues, boosting COP28 negotiations.
Rebeca Grynspan, UNCTAD Secretary-General, highlighted the pivotal role the forum plays in joining forces with the international investment-development community to face global challenges in recent years.
Grynspan noted: "I see how investors, firms, and governments are, in increasing numbers, putting sustainability and long-term value at the core of their activities."
Thani bin Ahmed Al Zeyoudi, UAE’s Minister of State for Foreign Trade, stated: "At a time when much of the world is struggling with contracting markets and a post-Covid recovery that has yet to fully take hold, UNCTAD’s 8th World Investment Forum is an important opportunity to take a long-term perspective."
Al Zeyoudi affirmed that the global challenges, including climate change, food security, alleviating the pandemic’s impact on trade, as well as investment and supply chain resilience, require unity of purpose and action on a wide scale.
Mohamed Ali Al Shorafa, Chairman of the Abu Dhabi Department of Economic Development (ADDED), stressed the necessity to protect and build on the process of global reform, including the liberalisation of trade and responsible investment policies.
"Against the backdrop of a highly volatile global economic landscape, the international community shares a collective responsibility to address the challenges facing the multilateral trading and development system," Al Shorafa mentioned.
He added: "It is imperative that we continue to come together, cooperate and identify much-needed solutions and alternative ways for the prosperity of all countries and humankind."
The Chairman concluded: "We will continue to work with all countries towards alleviating poverty and supporting long-term growth for sustainable development. We have a clear vision on how to scale the solutions required to help move the world forward and achieve real progress."