- The UAE will actively support the World Investment Forum held virtually this year, and will bring together local private and public stakeholders to discuss and draft ways to set the pace for investments in sustainable development
Abu Dhabi:– The United Arab Emirates has announced that they are supporting partners of the UNCTAD World Investment Forum, an event hosted by the United Nations Conference on Trade and Development. The 7th edition of this prestigious event will take place virtually from the 18th to the 22nd of October 2021, and will be streamed live via virtual platform, Events10X to reach a global audience.
A key objective of UNCTAD WIF is to fill a gap in the international economic governance architecture related to investment. Each year, the WIF brings together more than 5,000 investment stakeholders from 160 countries to discuss and draft ways to set the pace for the evolving economy. By utilizing technology, this five-day event will provide endless possibilities across different sectors towards economic recovery and transformation.
The 7th World Investment Forum will focus on "Investing in sustainable recovery", addressing today's most pressing challenges facing the investment-development community. Building forward better will not be possible without reigniting investment, both domestic and international, as an engine of growth.
Considering that the UAE's inward and outward FDI movements continue to grow, this is particularly pertinent. The UAE’s issuance of the new Foreign Direct Investment Law, which allows up to 100 per cent foreign ownership of companies in selected 122 economic sectors, and Expo 2020 Dubai are creating a slew of investment opportunities. Today, the UAE ranks first in the Arab world and 27th globally in terms of attracting foreign direct investment and is among the top 10 globally important sources of outbound investments, according to the UNCTAD classification.
The UNCTAD World Investment Forum will be attended by the Minister of State for Foreign Trade of the United Arab Emirates, His Excellency (HE) Dr. Thani Al Zeyoudi. The event will also be attended His Excellency (HE) Mohammed Ali Al Shorafa Al Hammadi, Member of the Executive Council and Chairman of the Abu Dhabi Department of Economic Development (ADDED).
In addition to the Ministry’s participation, Abu Dhabi based ADQ and Mubadala are also sponsors of the UNCTAD World Investment Forum.
As a title sponsor, ADQ, one of the region’s largest holding companies with a diverse portfolio of major enterprises spanning key sectors of Abu Dhabi’s diversified economy, will be participating at the UNCTAD World Investment Forum. ADQ’s participation reflects its commitment to sustainable investing and delivering long-term impact to drive Abu Dhabi and the UAE’s economic growth, particularly in key economic cluster including energy and utilities, food and agriculture, healthcare and pharma, and mobility and logistics. ADQ’s investments are driving an empowered private sector, and a diversified knowledge-based economy while also supporting a thriving start-up community.
Mubadala Investment Company, an Abu Dhabi-based sovereign investor, today announced its participation at the UNCTAD World Investment Forum. Mubadala’s $232 billion (AED 853 billion) portfolio spans six continents with interests in multiple sectors and asset classes. Mubadala’s participation at the UNCTAD WIF, is an example of its commitment to the nation and demonstrates its continued support of sustainable economic recovery around the world, to help inspire and promote a better lifestyle.
Furthermore, in order to promote investments towards sustainable development, The World Investment Forum will also be attended by key personnel from Investment Promotion Agencies, such as, Mr. Fahad Al Gergawi, CEO, Dubai FDI and President, World Association of Investment Promotion Agencies and Mr. Samir Hamrouni, CEO, World Free Zones Organization.
The sessions at the World Investment Forum will include a Grand Opening, Global Leaders Investment Summits, Global Investment Game Changer Summits, Ministerial Roundtables, Conferences, Private Sector Sessions, High-Profile Stakeholder Roundtables, Networking Events, Award Ceremonies and a Virtual Investment Village.
The UAE remained strong and steadfast with FDI inflows to the UAE growing to 44.2 per cent in 2020 to $19.88 billion compared to 2019, according to a report by the Ministry of Economy. DIFC (Dubai International Financial Centre) is an example of a successful FDI policy implemented by the UAE. The center is proud to have registered assets worth over $178 billion and 820 companies. The DIFC plans to triple its size by 2024, which will continue to attract FDI. In Abu Dhabi (Kizad) the Khalifa Industrial Zone attracted $20 billion in investments
This highly nuanced meeting will bring together different stakeholders from various sectors, some of which are national heads of state, ministers, stock exchange executives, heads of investment promotion agencies, global investment location experts, heads of international organizations, parliamentarians, civil society representatives, eminent scholars, and international media.
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World Investment Forum
WIF is held every two years and, in its last session in 2018, attracted over 4,000 stakeholders from the global investment community that comprises160 countries; with high-level participation from heads of state and government, ministers and executive directors of global corporations, stock exchanges, sovereign wealth fund managers, investment treaty negotiators, heads of investment promotion agencies, experts of international investment sites, heads of international organizations, parliamentarians, representatives of civil society, prominent scientists and the international media.
About ADQ
Established in Abu Dhabi in 2018, ADQ is one of the region's largest holding companies with direct and indirect investments in more than 90 companies locally and internationally. Both an asset owner and investor, ADQ’s broad portfolio of major enterprises span key sectors of a diversified economy, including energy and utilities, food and agriculture, healthcare and pharma, and mobility and logistics, amongst others. As a strategic partner of Abu Dhabi’s government, ADQ is committed to accelerating the transformation of the emirate into a globally competitive and knowledge-based economy.
For more information, visit www.adq.ae or write to media@adq.ae
About Mubadala Investment Company-
Mubadala Investment Company is a sovereign investor managing a global portfolio, aimed at generating sustainable financial returns for the Government of Abu Dhabi.
Mubadala’s $243.4 billion (AED 894 billion) portfolio spans six continents with interests in multiple sectors and asset classes. We leverage our deep sectoral expertise and long-standing partnerships to drive sustainable growth and profit, while supporting the continued diversification and global integration of the economy of the United Arab Emirates.
Headquartered in Abu Dhabi, Mubadala has offices in London, Rio de Janeiro, Moscow, New York, San Francisco and Beijing.
© Press Release 2021
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