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After the great success of its opening day, AIM Digital, the first digital edition of the Annual Investment Meeting, continued to gain momentum as it reached Day 2. The three-day digital mega event, an initiative of the Ministry of Economy, under the The patronage of His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President of the UAE and Prime Minister and Ruler of Dubai, concluded its second day with interactive activities that catalyzed investment generation, knowledge enhancement, and local, regional and regional collaborations. international.
Together with more than 15,000 participants from more than 170 countries, including more than 70 high-level dignitaries from around the world, the second day of AIM Dıgital witnessed a wide range of important events, from the Conference, Exhibition, Roundtables to Investment and Regional Focus sessions. a Conglomerates of Presentations and Startups Contests; all aimed at providing opportunities to achieve a digital, sustainable and resilient future.
In his keynote address at the FDI session, Ministers’ Roundtable: Adapting to the New Flow of Trade and Investment, His Excellency Dr. Thani Al Zeyoudi, UAE Minister of State for Foreign Trade, said: It is my honor to welcome you to the UAE’s first digital edition of the Annual Investment Meeting. Thank you to all participants, including our panelists from the governments of Costa Rica, Canada, Nigeria and Russia. Today’s discussion of how countries are ensuring the free flow of trade and investment couldn’t be more timely, especially as the world faces economic recovery and moves toward building a more resilient post-COVID economy. The pandemic has significantly affected global markets and created new challenges for trade and investment. While the challenges ahead are enormous, the UAE sees a tremendous opportunity for governments and business leaders to work together through trade and investment to reshape policies, create new partnerships, harness new technologies, and build an economy. global future that is more diverse, inclusive and sustainable. We know that FDI can bring new technologies and knowledge, create new jobs and growth, and is often the largest source of finance for economies, making today’s debate even more imperative. “
It further stated that FDI has played a critical role in the UAE’s economic growth, with policies and measures in place, such as the Foreign Direct Investment Law enacted in 2018 to further open up the UAE market to investors in certain sectors, and the issuance of Positive List, which enables increased foreign investment in 122 activities and increases the value of UAE FDI by 32% in 2019. He also mentioned that UAE was ranked 16th out of 190 countries in the 2020 Ranking Ease of Doing Business from the World Bank due to the digitization of the country. strategies and a promising business regulatory environment.
His Excellency Al Zeyoudi continued: “The UAE continues to refine and implement policies that will maximize competitiveness, increase collaboration and provide opportunities to facilitate trade and investment. Our goal is to become the number one country for foreign investment, aim for zero oil contribution to our GDP in the next 50 years, and support research, development and innovation. The UAE’s trade and investment strategy focuses on economic diversification and focuses on increased investment in industries such as communications, Blockchain, artificial intelligence, robotics, and genetics. We are also initiating measures to strengthen our position as a regional leader in the supply of financial and logistics services, infrastructure, energy supplies and other services ”.
He added: “The UAE believes that increased partnership and cooperation with governments and the private sector will be key to achieving our goals. We believe that platforms such as the Annual Investment Meeting are critical to closing the gap between nations and supporting global efforts to strengthen international trade and investment. Through this platform, we hope that participants will discover new and innovative ideas and investment opportunities necessary to better rebuild and ensure a strong post-COVID recovery. “
Additionally, world-class speakers shared their views on Day 2 of the Conference highlighting Foreign Direct Investment, Foreign Portfolio Investment, Small and Medium Enterprises, Startups, Future Cities and One Belt, One Road, including HE Amb. Mariam Yalwaji Katagum, Minister of State, Federal Ministry of Industry, Trade and Investment of the Federal Republic of Nigeria; Victoria Hernández Mora, Ministry of Economy, Industry and Commerce of the Republic of Costa Rica; Hon. Victor Fedeli, Minister of Economic Development, Job Creation and Commerce of Ontario, Canada; and Sergey Cheremin, Minister of the Government of the City of Moscow, Head of the Department of Foreign and International Economic Relations, among others.
Two Investment Roundtables were also successfully held on the second day of AIM Digital, which concluded with strategies to facilitate sustainable, smart and scalable investments. The Energy Roundtable was chaired by Laszlo Varro, the Chief Economist of the International Energy Agency, who works with countries around the world to structure energy policies towards a secure and sustainable future. Notable participants include HE Arifin Tasrif, Minister of Energy and Mineral Resources of the Republic of Indonesia; and HE Gabriel Obiang, Minister of Mines and Hydrocarbons of Equatorial Guinea. The Agriculture Roundtable was led by the Islamic Development Bank Group, the multilateral development bank that works to promote social and economic development in member countries and Muslim communities around the world, generating impact at scale.
Additionally, the second group of national winners competed on Day 2 of the AIM Global National Champions League. Overall, a total of 65 countries competed in this international startup competition. The top five world champions who will win a total prize pool of US $ 50,000 will be announced on the last day of AIM Digital. The competition was launched in an attempt to help startups maximize their potential to attract funding and promote their business ideas to a global audience, gaining maximum exposure and expanding their network.
Elsewedy Electric, led by Eng. Ahmed Elsewedy, its President and CEO, participates in AIM Digital’s conglomerate presentation function. Elsewedy Electric started as a manufacturer of electrical components in Egypt 80 years ago, and Electric has grown into a global provider of energy, digital and infrastructure solutions with a turnover of EGP 46.6 billion in 2019, operating in five business sectors key, namely Wire & Cable, Electrical Products, Engineering & Construction, Smart Infrastructure and Infrastructure Investments. As part of its commitment to sustainability, it has established green energy and smart metering projects in Africa, the Middle East and Eastern Europe.
The Regional Focus Sessions presented the Asia and Latin America regions and explored the risks, challenges and opportunities for regional growth and cooperation. The Regional Focus Session on Asia brought together government officials and investment authorities from ASEAN Member States and discussed their strategies for creating a sustainable borderless bloc that will drive organic growth, as well as their approaches to building resilience in the economy. . The Regional Focus Session on Latin America highlighted the importance of regional and international alliances to combat the current pandemic and boost trade, investment and employment in the region.
Additionally, country presentations on Day 2 presented the highlights and investment opportunities in Colombia, Egypt, and the Federal Democratic Republic of Ethiopia, highlighting the countries’ status as attractive investment destinations.
Another highly anticipated event at the largest virtual gathering of the global investment community is the announcement of the winners of the Investment Awards and Future Cities Awards, which will take place on the third day of AIM Digital. The AIM Investment Awards will recognize the best investment promotion in the world. Agencies and the best FDI projects in each region of the globe that have contributed to the economic growth and development of their markets. In addition, the AIM Future Cities Awards will honor the best smart city solution providers and outstanding projects that have resulted in increased operational efficiency and productivity, sustainability and economic growth.
Day 1 of AIM Dıgital welcomed the presence of world-renowned personalities such as the UAE Minister of Economy, His Excellency Abdullah bin Touq Al Marri, who emphasized the vision of the UAE’s wise leadership for the post-COVID era , which reflects great importance to improve the preparation of the country’s government sector, increasing efficiency and performance at the federal and local levels. The opening remarks were delivered by HE Juri Ratas, Prime Minister of the Republic of Estonia; HE Rustam Minnikhanov, President of the Republic of Tatarstan; The Hon. Dr. Bandar MH Hajjar, President of the Islamic Development Bank Group (IsDB Group); HE Mohammed Ali Al Shorafa Al Hammadi, Chairman of the Abu Dhabi Department of Economic Development (ADDED); and Dr. Mukhisa Kituyi, Secretary General of the United Nations Conference on Trade and Development (UNCTAD).
The UAE Minister of State for Entrepreneurship and SMEs, His Excellency Dr. Ahmad Belhoul Al Falasi, underlined in his keynote address for the SME pillar that it is critical that start-ups and SMEs have the opportunity to recover from the impact of the pandemic and provide an enabling environment that will empower them to have the ability to support growth and success.
The Global Leaders Debate featured prominent panelists such as Armida Salsiah Alisjahbana, Under-Secretary-General of the United Nations and Executive Secretary of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP); Mohamed Alabbar, founder of Emaar Properties, Alabbar Enterprises and Noon.com; Mohammad Abdullah Abunayyan, President of ACWA Power; and Arkady Dvorkovich, president of the Skolkovo Foundation, who discussed strategies to restructure economies to overcome the consequences of the pandemic.
The first digital edition of the Annual Investment Meeting with the theme “Reimagining economies: the movement towards a digital, sustainable and resilient future, will take place until 22North Dakota October 2020.
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