H.E. Mr. Abdulla bin Adel Fakhro, Minister of Industry and Commerce participated in the 8th session of the World Investment Forum of the United Nations Conference on Trade and Development (UNCTAD), hosted by the United Arab Emirates in Abu Dhabi, between 17 – 20 October, under the title “Investing in Sustainable Development".
The Minister stressed that the forum is an essential pillar in making important economic decisions and developing strategies and solutions to the challenges facing global investment and development and represents an opportunity to enhance the collective work of economic decision makers to stimulate investment in sustainable development in light of the current economic conditions.
His Excellency also pointed to the Ministry's role in encouraging the concepts of circular carbon economy, environmental and social governance, and pushing investment in digital transformation and adopting the industrial revolution, which achieves sustainability in production lines by increasing their efficiency, quality and productivity. In addition to the green industries targeted within the industrial sector strategy (2022-2026).
The conference will shed light on a number of important topics and axes, including: procedures for promoting clean energy investments in developing countries to transition to low-carbon energy, discussing the ability of sustainable finance to build a low-carbon future and increasing investment in sustainable energy, as the sustainable finance market constitutes a major source of capital for investment in sectors essential for sustainable development, such as health and food. The forum will also explore opportunities to enhance investment in health care in addition to a number of events that will be held within the forum to develop and formulate policies and strategies to address the investment challenges facing the world.
The forum represents a global dialogue platform aimed at stimulating investment in sustainable development and shaping the international investment environment in line with the UN's sustainable development goals. The 8th session of the Forum 2023 aims to address the main challenges resulting from multiple global crises at the present time, including the need to invest in food security, energy, health, supply chain resilience, sustainable infrastructure, and growth in productive capacity in developing countries.
