AIM Investment Summit 2024 highlights investment in Asia and Europe
Abu Dhabi, 9 May / WAM / The AIM Investment Summit 2024, which is currently being held at the Abu Dhabi National Exhibition Center, witnessed a great convergence between industry leaders, decision makers, and visionaries, as its activities included holding a series of discussion sessions within the framework of the investment axis, the regional dialogue forum, and the investment destinations axis, which Enhance ways of dialogue, cooperation, and finding innovative solutions to confront global challenges.
The session, titled “Leaders Session: Geopolitical Tensions 2024: Challenges and New Directions for Foreign Direct Investment,” witnessed the participation of speakers who discussed various aspects of the foreign direct investment landscape. The participants stressed the importance of attracting new foreign direct investments to various global destinations in light of the intense competition witnessed by the sector. direct foreign investment.
Biviana Rivero Desla, Executive Director of the Export and Investment Center of the Dominican Republic, highlighted her country’s streamlined investment process and strategic focus on important sectors such as artificial intelligence and technology.
For his part, Daniel Silverman, Vice President of the Foreign Direct Investment Authority in Quebec, Canada, spoke about the challenges facing the foreign direct investment sector in the region, especially with regard to the privatization of the energy sector, highlighting the competitive dynamics with neighboring markets.
For her part, Ibtisam Al-Farouji, Undersecretary of the Ministry of Trade, Industry and Investment Promotion in the Sultanate of Oman, stressed the Sultanate’s keenness to attract investments and benefit from the country’s strategic location and natural resources to highlight its position as a leading global destination.
In turn, Raymond Siva, Head of the Digital Investment Department at the Malaysian Digital Economy Foundation, stressed the importance of ingenuity, digital talent and infrastructure in enhancing investment security and growth in Malaysia.
Regarding the foreign direct investment sector in the UAE, Massimovalcioni, Head of Competitive Advantages Affairs at the Abu Dhabi Investment Office, highlighted the innovative approach followed by the UAE in confronting challenges and turning them into opportunities to attract foreign direct investments, stressing the UAE’s position as a major destination for foreign investors seeking… A stable investment environment and a prosperous economy, and he attributed this to the clear growth and diversification strategy set by the wise leadership in addition to the efforts made in supporting and implementing trade agreements and infrastructure development.
He stressed the importance of infrastructure, domestic demand and export opportunities, in addition to geopolitical stability, as key factors in attracting foreign direct investment, stressing the importance of talent, entrepreneurship and education as elements of achieving success in the country.
The discussion session, titled “Unleashing the Power of Sustainable Investment,” addressed current trends to stimulate economic growth and attract investors. The session included discussions conducted by Aziza Shaat, Economic and Commercial Counselor at the Dutch Embassy in Egypt, and Dr. Pallavi Kishore, Head of the Accounting and Finance Department at Middlesex University Dubai, during which they highlighted the fact that countries with strong economies represent an attractive force for foreign direct investment flows.
Dr. Kishore said that despite the decline in foreign direct investment in 2020 in the wake of the Covid-19 pandemic, emerging markets in the Middle East and North Africa region, especially in the UAE, Saudi Arabia and Qatar, continue to attract foreign investments.
Aziza Shaat pointed out the challenges facing foreign direct investment in the Middle East and Africa region, such as the difficulty of doing business and bureaucratic obstacles. Despite these challenges, the participants expressed their optimism about the future of foreign direct investment in this region.
The session, titled “Leveraging Foreign Direct Investment to Mitigate the Impacts of Climate Change,” addressed the importance of sustainable investments in developing countries and included the participation of prominent speakers, Mariana Bulbock, CEO of Bizmosis Group, Marwan Al Ajla, Director of the Investment Promotion and Support Department of the Invest in Sharjah Office, and Paul Holthus, founding president of the World Ocean Council, and Zakaria Farhat, director of international cooperation at the Ministry of Investment, Convergence and Public Policy Evaluation in Morocco, highlighted the role of foreign direct investment in supporting climate goals in developing countries.
Marwan Al-Ajla discussed Sharjah’s strategy, which is in line with the UAE’s national agenda, which focuses on sustainability and advanced industry, touching on the strategic location that the Emirate of Sharjah enjoys and its success in attracting foreign direct investment, which has led to the provision of many job opportunities.
Mariana Bulbock praised the role of the model followed in the UAE of cooperation between the public and private sectors in attracting foreign direct investment.
The forum also witnessed a session entitled “Korean International Economic Policy towards the Middle East,” which was presented by the Korea Institute for International Economic Policy (KIEP) and moderated by Dr. Munsu Kang, who holds a fellowship at the Korea Institute for International Economic Policy, during which he explained the institute’s primary goal, which is Contribute to South Korea’s effective international economic policies.
The discussion highlighted the major implications of global trends and ways to strengthen trade bridges between Korea and the Middle East.
Regarding future cooperation, the discussions during the session emphasized the importance of accelerating the transition to renewable energy sources as a fundamental necessity for the post-oil era, especially with the emergence of hydrogen supply chains, carbon capture and storage, and liquefied natural gas as key areas in the energy sector.
The session also included a proposal for cooperation in the sectors of digital payment methods, artificial intelligence, robotics, smart factories, entertainment and digital games as areas of focus in the future.
A distinguished panel of speakers included Renuka M. Weerakone, Director General of the Board of Investments of Sri Lanka, and Evariste Cagatan, Executive Director and Investment Promotion Advisor at the Board of Investments of the Philippines. , Wirat Tasaringkanasakul, Deputy Secretary-General of the Board of Investment of Thailand, V. Enkhbaatar, Director-General Advisor to the Director-General of the Investment and Trade Agency of the Embassy of Mongolia, and Raymond Siva, Head of Digital Investment for the Malaysian Digital Economy Foundation.
During the session, Jonathan Wong, Chief of the Innovation, Enterprise and Investment Division of the Trade, Investment and Innovation Branch of the United Nations Economic and Social Commission for Asia and the Pacific, stressed the importance of addressing the investment gap in the Sustainable Development Goals, and highlighted the attractiveness of Asia and the Pacific for investment due to its resilient economies and opportunities. Abundant.
The session also addressed various topics including effective positioning in Asia-Pacific countries as attractive destinations for sustainable development investments, persuasive messages to investors, challenges facing attracting sustainable investments, promoting an enabling environment for sustainable foreign direct investment, and enhancing regional cooperation.
Weerakone stressed Sri Lanka’s commitment to generating renewable energy and its focus on developing infrastructure and promoting gender equality, while Kagatan pointed to the ambitions and aspirations of the Philippines to become a center for sustainable manufacturing in Southeast Asia, stressing the importance of investing in renewable energy sources and processing critical minerals.
For his part, Tasaring Kanasakul stressed the close cooperation between the public and private sectors in Thailand as part of the country’s efforts to transition to renewable and clean energy, while Enkhbaatar highlighted the rich natural resources in Mongolia, pointing to investor-friendly regulations and laws.
For his part, Raymond Siva pointed to the digital transformation strategies adopted by Malaysia, its transition to the digital economy, and its focus on access to and sustainability of talent.
Another discussion session was held entitled “Empowering Europe’s Future: A Strategic Investment Engine for Growth and Competitiveness” within the framework of the European Regional Dialogue Forum, during which Lucy Berger, European Union Ambassador to the UAE, stressed the importance of benefiting from crises in building resilience and building and strengthening competitiveness.
Professor Henrik von Schiele, founder of the Fourth Industrial Revolution, and Léon Delvaux, Acting Directorate General for Trade and the European Commission, also participated in the session. They emphasized the important role of the European Union as a global investment player and highlighted the enormous opportunities for investment, as the total foreign direct investment in the European Union amounts to $8 trillion.
The session also witnessed the participation of Alexis Rostan, Managing Director of the Eifel Investment Group, who emphasized her group’s focus on sustainable investment strategies and global expansion, while Jean-Marie Frantis, Executive Director of the Luxembourg Trade and Investment Office, highlighted Luxembourg’s attractiveness to foreign direct investment and its leadership in the field of green finance.
Dr. Joseph Gerada, Organizer at the Family Business Office – Malta, spoke about Malta’s support for family businesses and succession planning, while Luca Lazzaroli, Director General of Portfolio Management and Monitoring at the European Investment Bank, referred to the Bank’s role in financing climate technology projects across the regions.
Johannes Brunner, Commercial Counselor at the Austrian Embassy in the UAE, and Marios Tanousis, CEO of Invest in Cyprus, also participated in the session, where they emphasized the important trade relations between the European Union and the Gulf Cooperation Council countries.
Tanousis noted Cyprus’ focus on technology start-ups, research and development, and cooperation for economic development in the European market.
The activities of the second day of the Investment Summit included the organization of the Investment Destination Forum in Oman, which included a session entitled “Country and Company Offers” moderated by Omar Al Harithi, Senior Business Development Executive at “Invest in Oman”, during which speakers provided valuable insights about investment opportunities in the Sultanate of Oman. It included presentations from Invest in Oman and Asyad Group, a global provider of integrated logistics services in the Sultanate of Oman.
Al Harithi highlighted the pivotal role that the “Invest in Oman” platform plays in the economic transformation of the Sultanate of Oman through sectors such as logistics services, food security, tourism, mining and manufacturing, as the platform works to encourage investment in new sectors such as green cement production and luxury boutique tourism in light of the laws. The legislation attracts investment in the Sultanate of Oman, which provides incentives to those wishing to invest in it, such as foreign ownership of up to 100 percent and tax exemptions, making it an attractive destination for investors looking for sustainable projects.
It is noteworthy that the Sultanate of Oman has issued and updated a number of laws and regulations related to investment to create the appropriate environment for starting businesses and digital transformation in all services provided to investors and providing incentives and advantages to those wishing to invest. This comes within its steady and ambitious steps to achieve its future vision, Oman 2040.
Yassin Al Busaidi, Director of Business Development at Asyad Group, pointed out the group’s focus on enhancing commercial activities by simplifying import and export operations.
The presentation highlighted the Hafeet Rail Project, an important initiative linking Oman’s Sohar Port to the UAE’s railway network, enhancing regional integration and economic growth.
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