The growing importance of Africa to the UAE’s economic investment strategy, in particular the energy, logistics and food security sectors, was discussed during meetings…reports Asian Lite News
Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, has held a series of high-level meetings with global ministers on the fourth day of the 8th World Investment Forum (WIF), during which he underlined the UAE’s commitment to trade and investment as a driver of long-term, sustainable growth. The biennial event organized by the United Nations Conference on Trade and Development (UNCTAD) is being hosted by Abu Dhabi between October 16-20.
The growing importance of Africa to the UAE’s economic investment strategy, in particular the energy, logistics and food security sectors, was discussed during meetings with Lemrabott Ould Bennahi, the Minister of Trade, Industry, Handicrafts and Tourism for Mauritania; Serge Gnaniodem Poda, Minister of Industrial Development, Commerce, Handicrafts and SMEs for Burkina Faso; Dr. Marie Christine Dorine Chukowry, Minister of Commerce and Consumer Protection for Mauritius; and Hon. Alexandre Dias Monteiro, Minister of Industry, Commerce and Energy for Cabo Verde.
The minister also held positive talks with Dilum Amunugama, Minister of Investment Promotion for Sri Lanka and German Umaña Mendoza, Minister of Commerce, Industry and Tourism for Colombia, reflecting the UAE’s increasingly global outlook.
Al Zeyoudi said these meetings serve to strengthen the UAE’s position as an important partner for economic development across the world. “The UAE has a long-standing belief that foreign trade and investment are major drivers of sustainable economic development, industrial productivity and knowledge-sharing. In my meetings with ministers this week, I have sought to strengthen ties with partners who share our vision of creating new corridors of opportunity between Asia, Africa and South America and stimulate flows of capital, whether financial, technological or human. We found many areas of mutual benefit and I look forward to continuing these conversations to secure a prosperous and equitable future for us all.”
During the course of the World Investment Forum, the UAE was also able to underline its role as a champion of innovation. The minister met the executives of several private-sector companies pushing the boundaries of priority sectors such as clean energy and med-tech, including space-based solar-energy pioneers Space Solar and Orange Grove Bio, a start-up that is bridging the gap between early-stage research and pharmaceutical companies. During talks, HE Al Zeyoudi heralded their ideas and invited them to explore the UAE’s dynamic business ecosystem, including its fast-track business set-up options, pro-growth regulatory environment, global connectivity and competitive tax policies.
He closed the day by attending the World Investment Forum’s Global Digital Government Awards, where he outlined the UAE’s successful track record in digitizing government services for residents and businesses. In 2022, the UAE ranked first in Arab region and 13th globally in the UN’s E-Government Development Index, and were also ranked third globally for “Superior digital government services” by Boston Consulting Group.
The 8th edition of the World Investment Forum, which is organised under the theme ‘Investing in Sustainable Development’, brings together more than 9,000 government officials, decision-makers, business leaders and investors from 155 countries to discuss key issues including climate action, clean energy, health care and food security.