World Investment Forum Concludes with a Call to Boost Global Investments
Abu Dhabi, United Arab Emirates, 20 October 2023 – The 8th World Investment Forum, organized by UNCTAD, the United Nations’ trade and development body, concluded in Abu Dhabi with an emphatic call for increased public and private sector investments. The focus is on catalyzing economic transformation in sectors pivotal for sustainable development, including energy, infrastructure, agrifood, and health.
Drawing the attention of 8,000 attendees from around the globe, the forum had an impressive participation of government representatives, international organizations, policymakers, 700 CEOs and investors, and key players from sovereign wealth funds, sustainable stock exchanges, and capital markets.
UNCTAD Deputy Secretary-General, Pedro Manuel Moreno, voiced concerns over the diminishing foreign direct investment, emphasizing its correlation with decreased economic growth and challenges in achieving the Sustainable Development Goals (SDGs).
A significant highlight was the representation from small island developing states, where Fiji’s Deputy Prime Minister Manoa Kamikamica led the call for leveraging blended financing solutions. The aim is to combat the unique challenges these nations face, from debt distress to infrastructural limitations.
Aligning with the upcoming COP28 summit, the forum urged integrating investment discussions into the global climate action strategy set to be renewed by 2025. On the policy front, new instruments were launched, including special economic zones dedicated to SDGs and sustainable tourism investment principles in collaboration with the UN World Tourism Organization.
Several strategic alliances were unveiled at the forum, most notable being collaborations with the African Sovereign Investors Forum and the joint initiative of stock exchanges from Malaysia, Indonesia, and Thailand. Two technical assistance programs, one in partnership with the German International Climate Initiative and the other, a 2.8 million Euro collaboration, were introduced to bolster investment capabilities in developing nations.
The subsequent 9th World Investment Forum is scheduled for 2025.
In related news, Visiting Professor Chen Bohui of the Asia Academy of Digital Economics and Mr Ng Haw Leng, Head of Public Affairs and External Relations of the same institution, attended the forum. They also graced the “Global Outstanding Young Leaders Leadership Program Launch Ceremony” held at the Andaz Capital Gate in Abu Dhabi.
