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  • Green Entrepreneurship: A Key Driver for Competitiveness and Sustainability Highlighted at the Annual Investment Meeting’s Entrepreneurs Investment Summit

    Green Entrepreneurship: A Key Driver for Competitiveness and Sustainability Highlighted at the Annual Investment Meeting’s Entrepreneurs Investment Summit

    The Summit discussed new strategies and opportunities in green investment for entrepreneurs

     Abu Dhabi, UAE, 9 May 2023 The Entrepreneurs Investment Summit opened its doors to industry leaders and experts from around the world to discuss new strategies and opportunities for investment. Held at the 12th edition of the The Annual Investment Meeting (AIM), which took place at the Entrepreneurs Room located at the Abu Dhabi National Exhibition Centre, The Summit witnessed a range of distinguished speakers who shared their thoughts and insights on the subject.

    The forum commenced with opening remarks from Dr. Hashim Hussien – Executive Director World Entrepreneurs Investment Forum. He said, “This summit marks a new beginning for the Interpreters Forum Secretariat, with more focused events that aim to create an optimal platform for entrepreneurs to connect with major investors, experts, and unicorns. We are focusing on Arab and African entrepreneurs, but we have also invited entrepreneurs from all over the world to share their experiences and build more resilient enterprises.

    Over the next three days, we will hear from 55 speakers from 23 countries, representing Europe, Asia, Africa, Latin America, and of course, the Arab region. We will be discussing issues that challenge entrepreneurs and economic development worldwide, as well as the ecosystems regionally and internationally. Thank you for coming together to invest, network, and share experiences, and I hope you have a successful and enjoyable summit.

    In addition, H.E. Dr. Khaled Hanafy – Secretary General – Union of Arab Chambers said, “This event, the Entrepreneur Investment Summit, is a crucial platform for addressing the challenges and opportunities that exist in the Arab world. However, before we delve into these issues, let me shed light on some of the Givens or facts that characterize the Arab world.

    To begin with, the 22 Arab countries are not homogeneous. Each country has its unique mix of factors of production, including labor force, which makes it challenging to generalize about the region. Secondly, around 88% of the Arab world’s population has access to the Internet, and 94% own mobile devices. Thirdly, poverty is a prevalent issue in the region, with around 40% of the population living below the poverty line. Of this percentage, 50% are youth aged between 18 and 30. When it comes to entrepreneurship, while there is a significant number of small and medium enterprises (SMEs) in the Arab world, only 1.3% of them are startups, which is a considerably low rate. Given these Givens, it is imperative that we consider how to address these challenges.

    As the Union of Arab Chambers, we are organizing this summit to represent the private sector in the Arab countries. The private sector accounts for almost 70-75% of the GDP and employment in the region and is a leader in growth and development. Thus, we aim to emphasize that the private sector cares deeply about entrepreneurship and investment in SMEs. We understand that there are bugs and problems in some Arab economies, but we also believe that there is potential in every Arab country.”

    H.E. Dr Ali Saeed Bin Harmal Al Dhaheri – First Vice Chairman- Abu Dhabi Chamber of Commerce & Industry said, “As part of the annual investment meeting 2023, we are excited to welcome you to the Arab African Entrepreneurs Summit. Over two days, this summit will showcase bankable investment opportunities led by intrapreneurs, SMEs, and micro-investments from African and Arab regions. It will provide a platform for sharing best practices to stimulate joint investment opportunities between Africa and the region, contributing to African economic integration.

    “The Abu Dhabi Chamber’s new strategy spanning 2023-2025 aims to drive economic cooperation and create business opportunities for the private sector, locally, regionally, and internationally. Our participation in this event aligns with our commitment to support policies, adaptive innovation, and digital transformation to build a knowledge-based economy”

    Continental African trade is estimated to be $80 billion US dollars in 2041, according to the African African bank. Plans are underway to strengthen trade exchange between Africa and the Arab region, with initiatives such as the Arab Africa guarantee fund and Cairo’s plan to increase exports to Africa to $10 billion US dollars by 2025. The UAE has emerged as one of the largest investors in Africa among the GCC states, with the Abu Dhabi Fund for Development financing more than 66 projects and 28 African countries valued at $16.6 billion US dollars between January 2016 and July 2021. The African entrepreneurs summit will build on these initiatives by creating solid partnerships between SMEs and entrepreneurs in Africa and our region.”

    Following the opening remarks, ‘The Entrepreneurs Investment Summit’ commenced. This was marked by the presence of several distinguished guests, including HE Dr. Ahmed Abu El Gheit, Secretary General of the League of Arab States, HE Dr. Haidara Fatou, Deputy Director General and Managing Director of the Directorate of Global Partnerships and External Relations, and Director General’s Special Representative for Africa, H.E. Sameer Abdulla Nass, President of the Union of Arab Chambers.

    H.E. Dr. Ahmed Abu El Gheit – Secretary General League of Arab States said, “We are working collaboratively towards a historic milestone for entrepreneurs, with a strong focus on community development and creating opportunities to support SMEs that can drive economic growth and increase investment opportunities. The introduction of digital techniques has made it easier for investors to take an interest in these opportunities. The Arab world recognizes the importance of transitioning towards shared opportunities between the private and public sectors, and empowering local industries to prepare for economic growth, employment, and the best interests of the region.”

    H.E. Dr. Haidara Fatou – Deputy General and Managing Director, Directorate of Global Partnerships and external relations, and Director General’s Special Representative for Africa, said “The need to achieve Sustainable Development Goals (SDGs) has become more urgent, and investment opportunities have arisen at a critical time for the community.

    “It is essential to address global challenges, create jobs, and drive economic growth. Several nations are experiencing a decline in the number of start-up businesses, and many young people are unable to find employment after leaving school. This makes it crucial to invest in youth to ensure future generations can thrive.”

    H.E. Sameer Abdulla Nass – President at – Union of Arab Chambers said, “I would like to highlight the Arab Chamber’s efforts to increase trade and investment among Arab countries. Unfortunately, the current level of trade, which is only 50% among 22 countries, falls short of our expectations. Therefore, we need to focus on creating recommendations and bylaws to enhance trade relations among union countries. Entrepreneurship has always been a crucial concept in our region, and we need to emphasize its importance.

    “We must support the digital economy and entrepreneurship to secure a better future for upcoming generations and build a strong trading network between Africa and the Arab region. It is imperative to establish better links between SMEs in Africa and Arab regions to overcome any challenges and create new opportunities. Through this summit, we hope to provide a platform that facilitates trade and generates recommendations to strengthen these links.”

    The summit also hosted several panels, with experts sharing their insights on topics such as ‘Supporting Green Entrepreneurship: Greening SMEs for more Competitiveness and Sustainability – Opportunities for SMEs in a greener value chain’. Speakers for this panel included Rasmus Wiinstedt Tscherning, Managing director, Creative Business Network, Denmark:, Douja Ben Mahmoud Gharbi, CEO RedStart Tunisia Accelerator and President DAMYA Angels, Dr. Ahmed Nasser, Green Hub, Osama Rais, Head of the Entrepreneurship Unit and Digital Transformation Expert, Arab Organization for Agricultural Development and Hatem Mohammad AbouOllo, Founder of Saber Incubators & Accelerators.

    Rasmus Wiinstedt Tscherning – welcomed the participants and the panellists for this session. The pane started with key remarks by Douja Ben Mahmoud Gharbi who said, “It is important to provide support to women entrepreneurs because they have a significant role to play in identifying successful business opportunities. Climate change, pollution, and waste management are real-world problems that require innovative solutions. As we face these challenges, we need entrepreneurs who can introduce new business models, technology, and innovations that can be connected with large corporations that are responsible for impacting our environment and social well-being. Therefore, it is crucial to work on promoting the green economy as it will have a transversal impact on all the other sectors of the business ecosystem.”

    Dr. Ahmed Nasser said, “Our expertise lies in digital and western transformation, which emphasizes scalability and autonomy. To achieve digital transformation, it’s crucial to understand that it can apply to communities, villages, and different business sectors. The key is to use suitable technologies to transform businesses, and proper training and education are essential for a successful transformation. We have developed solutions such as virtual reality and augmented reality for training and self-learning.

    Digital transformation can have a significant impact on businesses, including cost savings and more efficient supply chains. Our company is also working on a new platform to support startups with an easy-to-use and cost-effective solution. We believe that digital transformation will play a crucial role in promoting a green economy, but we also need professional criteria for growth and secure platforms to manage businesses. We aim to support more startups in the future.”

     Osama Rais said, “Our focus is on bringing innovative solutions to drive the shift towards agricultural waste reduction and clean energy in greenhouses. We aim to do this while maintaining our commitment to the planet’s decarbonization and overall health. To achieve this goal, we believe in the importance of changing the mindset of the youth to direct their organizational efforts towards personal development and purposeful work.

    Digital transformation is key to all our efforts, from planning and analyzing data to achieving a global picture of food security and developing effective logistics policies. We believe that by bringing together innovative solutions and cutting-edge technology, we can drive progress towards a greener, more sustainable future.”

    Hatem Mohammad AbouOllo said, “We specialize in city branding and revitalization and have a website, but there are also startups that invest in businesses oriented towards quality of life. Our focus is on high-tech, fast-growing businesses, and we’ve studied the 15 best practices worldwide to create our framework for city branding and revitalization. As part of this framework, we emphasize smart city solutions, not just in terms of infrastructure and facilities, but also in terms of activation and programming.

    To encourage visitors, residents, and local economy players to contribute to the environment, we launched a crowdsourcing platform where people can plant trees. Companies that we work with also use this platform to offset their carbon footprint. When it comes to consumers, our objective is different.

    Instead of traditional gifts like flowers or chocolates, we promote the idea of sharing gifts that are healthy and sustainable, like a tree planted on a special occasion or milestone in someone’s life. For example, a new parent might receive a tree to plant when they have a baby, or a company might give a biogas plant to an employee as a gift. We aim to align consumer psychology with smart technology through our crowdsourcing platform.”

    In addition, a special session on ‘Fostering International Partnerships Energy and Environment – Call for High Impact Cleantech’, by UNIDO ITPO Italy was conducted. Key panellists as Phillip Sellwe, Managing Director Bayon Holdings, Botswana, Samuel Okioro, Co-founder Drop Access, Kenya and Roger Mori Pizzino, CEO Ciclo, Peru discussed their expert insights. The session aimed to promote international collaboration and partnerships for the development and implementation of clean and smart energy technologies.

    Phillip Sellwe, pointed out that international partnerships face common obstacles such as cultural differences, intellectual property protection issues, time zones, legal and regulatory framework. He emphasized the need for clear and mutual goals transparency as well as respect for cultural differences to overcome or manage these obstacles. He cited successful collaborations in clean tech products between Tesla and Panasonic, and General Electric and Perceiver as examples, and encourages working together to achieve clean tech goals.

    Samuel Okioro – said that his company aimed to provide real-time access to cell-based and other grains, reduce post-harvest loss of fresh food both on the farm and the household by manufacturing coal preaches that utilize solar energy solar power. Roger Mori Pizzino highlighted the importance of the structure of buildings as they are responsible for 39% of the planet’s greenhouse gases.

    He explained that his startup aims to increase the sustainability indicators for construction companies by making eco-materials from recycling construction and demolition waste. Their solution is based on two value propositions: construction companies pay them for their waste, and they turn it into equal materials that they finally sell back to the same construction market.

    Next in line wsa a Special Initiative by UNIDO Global on ‘Clean and Smart Energy for Inclusive and Sustainable Industrial Development, spearheaded by Mr. Wu Yabin, Head UNIDO ITPO Beijing was conducted. He said, “Global Call Containment, is an event that identifies and promotes innovative energy solutions for sustainable development. This year’s theme is clean, smart energy, with three main tracks: green hydrogen, energy efficiency, and clean energy innovation. The event is open to all, including multinationals, SMEs, and startups, and participants receive benefits like matchmaking with financial institutions, coaching, and technical support. The Global Call is a successful institutional partnership among ITPO offices and external partners, and follow-up actions will help award winners penetrate industry sectors.”

    Another highlight was a panel discussion on ‘Improving SMEs Access to Finance: Finding Innovative Solutions to Unlock Sources of Capital in MENA Region and the African Continent’. This panel discussed the barriers to finance in 2022/2023, and the tools for improving access to finance and unlocking sources of capital for SMEs.

    It featured speakers as Reem Badran, Founder MENA Business Women Network Panelists, Dr. Wissam Fattouh, Secretary General Union of Arab Banks (TBC), Pauline Koelbl, Founder/Managing Partner – ShEquity’s, Baybars Altuntas, Chairman, World Business Angels Investment Forum, Michel Fossaert, Board Member – World Union of SMEs, Mohamed Hreimou, Executive Manager – Emirati Entrepreneurs Association, and Ali Muqaibal, Chief Executive Officer, Sharakah – Oman.

    Reem Badran said, “SMEs in our region represent a significant potential for economic growth and job creation, but two major obstacles are preventing them from reaching their potential: operating in the informal sector and lack of access to finance. The finance gap for MSMEs in our region is significant, with many SMEs not obtaining sufficient bank lending.

    The traditional lending method is proving insufficient, so FinTech platforms can be leveraged to reduce barriers to SMEs’ access to finance. Banks must change their way of thinking regarding SMEs, or FinTech start-ups will take a significant share of the market. In the West, big banks are already acquiring and absorbing FinTech start-ups to facilitate lending for segments that cannot be served using traditional lending mechanisms.”

    Pauline Koelbl said, “Investing in African women is not just charity, but a proven way to achieve sustainable development goals. McKinsey reports show it can add to African GDP by 2025. Rather than just microfinance, an ecosystem approach combining cash investment and VC investment can stimulate growth and impact sectors. Women’s innovative solutions can address challenges faced by people on the continent. To build a sustainable world, we must invest in women and put money on the table.

    Baybars Altunas explained that access to finance is a common concern for capital and equity markets, but it’s important to differentiate between startups and SMEs. SME owners typically focus on growing their business with no exit strategy, while startups have an exit strategy in mind and aim to turn their business into a success story within five to seven years. Access to finance sources for entrepreneurs today include ICO, IPO, crowdfunding, angel investors, and more.

    However, small businesses need more than finance to compete globally, and angel investors can offer mentorship and networking opportunities. The COVID pandemic accelerated the growth of the startup economy, with traditional business owners now investing in startups to stay competitive in the digital age.

    On the other hand, Michel Fossaert highlighted that 50% of SMEs lack access to finance, and with economic challenges in some countries, it will become more difficult for them to obtain loans from banks. He suggests innovation is needed in cooperation with banks, and proposes a mix of donor guarantees and private investment as a solution for SMEs to access loans and equity. He focuses on the agricultural sector in Africa as an opportunity for growth and job creation.

    Mohamed Hreimou leads the Emirati Emerging Entrepreneurs Association, which connects MSMEs with government bodies to improve local content and increase in-country value. They focus on building capabilities through training and expanding opportunities for entrepreneurs to access finance. One issue they’ve identified is the lack of a unified database for categorizing companies, which they are working on to help financing institutions better understand which companies are eligible for funding.

    Ali Muqaibal explained that their organization supports various pillars of the ecosystem, with access to finance being a key focus for entrepreneurs and SMEs due to collateral requirements and poor credit reporting. They offer different types of financing, including venture capital, and work with regulators to increase additionality in the ecosystem.

    One initiative they have undertaken is creating credit goals with a central bank to provide ratings for SMEs and establish a credit guarantee agency to incentivize more companies to access funds. They are also investing in crowdfunding and advising local platforms on the business model and regulatory procedures. Overall, their goal is to help more companies gain access to finance and elevate the ecosystem.

    Reem concluded the session by asking the panel’s thoughts on how to bridge the gap and who would be best for funding i.e Government, donors, NGO, etc. Dr. Wissam shared his thoughts initially by stating that the government should present and finance SMEs to bridge the gap at least partially.

    According to experts, SMEs represent 90% of the businesses and more than 50% of employment worldwide and contribute to up to 40% of national income GDP in emerging economies, making it very important to think about new sources of capital for SMEs. However, many SMEs in the MENA region and African continent face significant barriers in accessing formal credit and financing. This panel explored innovative solutions and tools that can be used to improve SMEs’ access to finance and unlocked sources of capital, enabling them to grow, create jobs, and drive economic development.

     

     

     

  • Annual Investment Meeting brings to focus the opportunities and challenges of investing in distressed assets and non-performing loans (NPLs)

    Annual Investment Meeting brings to focus the opportunities and challenges of investing in distressed assets and non-performing loans (NPLs)

     The session highlighted how real estate, like any other sector carries risks and uncertainties, which can lead to distressed assets

     Abu Dhabi, UAE, May 2023:  Investment experts from around the world discussed the opportunities and challenges of investing in distressed assets and non-performing loans (NPLs) at the 12th edition of the The Annual Investment Meeting (AIM), which took place at the Future Room located at the Abu Dhabi National Exhibition Centre.

    The conference was held in two panels. The first panel ‘The Role of Distressed Real Estate in a Diversified Portfolio’ examined the current economic environment and how rising interest rates are creating opportunities for distressed debt investors. The speakers discussed the challenges that could limit the growth of this market, including the absence of covenants in credit documents, the amount of dry powder in the market, and the maturity wall not ramping up until 2025.

    This session was led by Viktoria Soltesz, CEO, PSP Angels. Featuring experts as Mihai Pop, Investment Director APS Investments, Hans-Jörg Baumann, Chairman of StepStone Private Debt, CH, Federico Gaito, Managing Director, Taurus Asset Management, ES, Christophe Beauvilain, Managing Partner, Pygmalion Capital Advisers, UK, the session highlighted how real estate investments can be an attractive option for investors seeking diversification and long-term returns. They also highlighted how, like any investment, real estate carries risks and uncertainties, which can lead to distressed assets. A distressed asset is a property that is under financial or operational distress, often due to foreclosure or bankruptcy.

    Christophe Beauvilain said, “The majority of the reason in financial difficulty is because it’s easy to fall in love with the project. It’s a warning, don’t do that. In hotel assets, the bank will seize your assets if things get bad, but even then, that’s not very likely to happen. When things get bad, we sell. Our role is to go and negotiate with sellers and help the buyers buy assets. Before Covid, we were at peak, and then we saw a sudden crash. The loan and salary inflation are bad, so there aren’t many investors. The next massive issue is the financing rate. We are focusing on Italian hotels and are looking forward to it as they provide quality. The Italian market is keener with their buyers.”

    Mihai Pop said, “No simple way of escaping inflation because it has caused harm to high earners as well as low earners in the market. In Europe, there is no rounding price market. There is a difference when it comes to foreign businesses, it’s better if you are local and invest locally. We will see better fair in the local market. Keep in mind the location and regional funds.”

    Federico Gaito said, “”Working with local experts from a data and theoretical point of view can avoid and price it very differently. Lack of transparency brings an opportunity to people with a lack of experience in data. In hotel with distress angels, we can get 18-20%. Distressed is never advertised. In Europe, bankruptcy is very efficient and gets dragged to 5-8 years. The value is high. We always focus on consensual deals. With a discount of 50% on average, it gives us confidence to achieve three-quarters of our goals. We very often negotiate with existing loans or lenders. We don’t buy your loan and become a creditor, it’s risky.”

    Hans-Jörg Baumann said, “Performance is the sum out of potential. When it comes to assets, we need to deny the disturbances that are many. It’s tangible. If financing doesn’t work, then it’s a tremendous problem for real estate. Do you need to generate income? How much flow is real estate going to generate? It could be refinancing costs, there is market stress. Do you have the legislative power to stay in this business? Acquiring a legal system is a must when it comes to endorsing your rights. The Anglo-Saxon world has an advantage over the foreign market. The only choice is obtaining luxury information about the legal system and assets. Entering a transaction is easy, exiting is hard. If low on income, offense with capital. Don’t go for bulk risk.

    The second panel, ‘Global NPL Investing: Strategies & Opportunities’ explored the world of global distressed and NPL investing, with insights into the strategies and opportunities available in this space. The speakers discussed the different asset classes in this sector of the market, including real estate, corporate, and consumer debt, the secondary market, and the directions the market is heading in due to macroeconomic forces.

    The session was led by Edwin Harrap, Director, Alantra, UK, and included panellists as José Nestola, Founder & CEO, Copernicus Group, ES, Konstantin Kraiss, Managing Director, LynxCap Investments, CH, Martin Machon, CEO, APS Group, CZ and Inam ur Rahman CEO & Co-Founder, Oasis Global Consulting, USA.

    According to experts in this session, non-performing loan (NPL) investing has become an increasingly popular strategy for investors seeking high returns. Panellists shared their experiences and analysis of investing in distressed and NPL assets across different geographies, including emerging markets and developed economies. They also discussed the challenges and opportunities of investing in these markets, taking into account macroeconomic conditions, industry-specific trends and the unique regulatory and legal frameworks that govern these transactions.

    José Nestola said, “We are spread over six countries, and the real challenge is the quality of data. Not everything is clear when it is given to us by people. In two to three years, we shall be talking about millions moving into the bank. But how? Such information is difficult to get your hands into. Especially in the corporate world. We focus on second opportunities. Lack of information will stop you from pricing better. Real estate, legal, and financial knowledge is a must. When done right, equity returns (13-15%). Here your return will be achieved. When we price everything at the end of the day, we try to see what the potential buyers want and who they are. The banks are for selling to the right investors and managing the reputation of themselves. Who is going to check the services in the market, and what treatment will they have? It’s a tough scheme. Buying a portfolio of loans is difficult for banks and debtors.”

    Konstantin Kraiss said, “Entering new markets is all about learning and gaining experience. It took us 6 years before making the first investment because it’s not easy. Financial distress is the most occurred. If there is opportunity, then there is a debt sitting around, but there are legal services to get ourselves out of it. Having partners is a must because if someone goes on strike in the middle of your forecast, then it’s troublesome. Key role is to follow the market and the supply and stay open to find the best opportunity. There are plenty of opportunities out there and we must be wise to choose, and it’s a bit exciting.”

    Martin Machon said, “Entering the industry is not easy, it takes time and effort, especially in new markets and first transactions. With the current inflation and work crisis, the risks are higher. We must be careful and aware of the legal framework and have a good partner. When starting out, it’s better to go for smaller assets. The banking system has evolved, but we still face challenges in dealing with limited tools from them. We need to investigate the services beforehand and strengthen them through knowledge sharing.”

    Inam ur Rahman said “I believe that NPL markets were thriving before Covid, but it is difficult to predict how it will be impacted in the future. The legal framework for NPL varies across countries, and some countries have developed strict NPL laws, which could be beneficial for investors. Technology has also had a positive impact on the industry, and I am optimistic about the future.

    However, investing in NPL is challenging, and it requires a proper team to navigate the legal landscape. Lack of clarity and understanding could lead to losses. Technology, such as blockchain, can help minimize the risk of fraud. To succeed in this industry, it is crucial to have a team of experts who can evaluate and assess the situation.”

    Experts emphasised that investors need to have a solid understanding of the different NPL investment strategies available in order to make informed investment decisions. For example, some investors may prefer to focus on purchasing individual NPLs, while others may prefer to invest in portfolios of NPLs. Additionally, investors need to be aware of the unique risks associated with investing in distressed assets, such as potential legal and regulatory hurdles, liquidity risks, and market volatility.

    Overall, global NPL investing presents a promising opportunity for investors looking to diversify their portfolios and capitalize on distressed assets in the market.

  • Annual Investment Meeting launch Arab China Unicorn Investment Conclave

    Annual Investment Meeting launch Arab China Unicorn Investment Conclave

    The conclave served as a platform to discuss global economic outlook, sustainable development, and social value creation in a city context, among other topics

    Abu Dhabi, UAE, 9 May 2023:  The 12th edition of The Annual Investment Meeting (AIM) hosted the China Top 50 Unicorns. The event took place at the Innovation and Technology Track located at the Abu Dhabi National Exhibition Centre, and brought together investors, startups, and innovators from the UAE and China.

    The forum marked an opening ceremony for ‘Arab China Unicorn Investment Conclave’ by HE Dr. Thani bin Ahmed Al Zeyoudi, the UAE Minister of State for Foreign Trade and saw the esteemed presence of Dr. Wissam Fattouh, Secretary General Union of Arab Banks and Mariam Gao, General Secretary of Arab China Unicorn Investment Conclave.

    HE Dr. Thani bin Ahmed Al Zeyoudi said, “I am delighted to welcome you to the opening ceremony of the Arab-China Unicorn Investment Conclave. Held under the theme ‘Transforming the Future of Investment’, today’s conclave gathers startups and unicorn companies that represent the future of the global economy.

    In the UAE, we are proud of our status as a hub for innovation and entrepreneurship and we are committed to support the growth of emerging businesses that will shape the world around us. China is an increasingly important partner in these efforts and today’s event underlines the synergies between both our approach and our ambition.”

    HE Dr. Thani bin Ahmed Al Zeyoudi further stated, “The Arab world and China are bound by historic relations. Over the last 40 years, we have enjoyed remarkable progress – particularly in trade and economic cooperation. And this cooperation has yielded a substantial increase in bilateral trade and investment: As of 2021, the UAE was China’s top trade partner in both the Arab and GCC regions – and China the UAE’s largest trading partner globally. In the last year, non-oil bilateral trade grew 18 percent to surpass 72 billion dollars.

    Two-way investment is also strong and covers critical industries such as real estate, logistics, storage, financial services, insurance, manufacturing, and technology. In total, these investments amounted to approximately 12 billion dollars in 2021.Today, China is the third-largest foreign investor in the UAE, with investments worth 9.3 billion dollars in 2021. This is a remarkable 514.5 percent increase from the sum invested in the UAE just ten years ago. And I am confident our best days are still ahead of us.”

    HE Dr. Thani bin Ahmed Al Zeyoudi also emphasised how this conclave is an opportunity to forge new connections, open up new investment opportunities and spark new ideas that will benefit all of us.

    Dr. Wissam Fattouh said, “It’s fantastic news to learn about the flourishing startup and unicorn growth in the Arab region, with the added benefit of evolving government policies to support their expansion. The adoption of AI and blockchain technologies is a promising development, which can enhance the potential of these startups to scale and flourish. The proposed Arab-China union can offer further prospects for collaborative growth. The forthcoming years will be thrilling to observe the Arab startup ecosystem’s persistent advancement and achievements.”

    Mariam Gao, General Secretary of Arab China Unicorn Investment Conclave said, “We have assembled here to explore the remarkable opportunities and potential for success. Our objective is to design effective strategies to achieve this goal. We are grateful for the support extended by both private and government organizations from Arab and Chinese institutions, and we hope to establish a collaborative synergy between the two.

    In recent years, collaboration between the Arab and China regions has increased significantly. While the Arab world has devised successful strategies, China has emerged as a global economic power. By fostering a partnership, we can attain unprecedented growth and progress. The primary aim of this event is to bring together the two nations and create a platform for mutual collaboration.

    We acknowledge that there will be modern-day challenges, but we are confident of finding solutions to overcome them. We believe that this partnership has the potential to generate impressive returns and contribute positively to the world. Our dedication is towards supporting the unicorn ecosystem in this region, promoting economic growth, and improving the lives of the people.

    The forum also featured a session titled, ‘Unicorns: Urban Connectivity in Turbulent Times’. This was moderated by Kim Zietlow- Director, FDI Center who said, “The impact of economic turbulence can be far-reaching and affect both individuals and the economy as a whole.

    Unemployment, reduced consumer confidence, decreased investment, inflation, and government intervention are some of the factors that come into play during such times. It is crucial for governments and businesses to respond proactively and implement strategies to mitigate the negative effects. Unicorns can play a significant role in promoting urban connectivity and creating job opportunities, encouraging economic growth and stability.”

    It featured speakers as Walid Mansour, CEO – Middle East Venture Partners (MEVP), Mohamed Salah, Country Manager – Startup Grind, Kareem Elsirafy, Managing Partner – Modus, Mansoor Madhavji, Partner at Blockchain Founders Fund and LP at Loyal VC & Draper Goren HolmAntek, Antek Kałuża, Creative Director – Econverse & Vice President of Warsaw Startup Club, Marianna Bulbucr, CEO & MP of Bizzmosis Group, Sean He, Founder – Silicon Harbour Capital.

    Walid Mansour, noted that the investment focus has shifted towards biotech and new tech-based businesses, with a focus on creating returns to run economic cycles and considering various types of environments, including economic and health environments, while planning investment strategies. The importance of branding was also emphasized.

    Mohamed Salah, highlighted the benefits of working from home, including increased flexibility and work-life balance, reduced commute time and costs, and improved productivity and job satisfaction. However, he also mentioned the challenges associated with remote work, such as social isolation and difficulty with collaboration and communication.

    Kareem Elsirafy, discussed the increasing significance of climate change on investments, including the demand for sustainable and environmentally friendly investments and the potential impact of extreme weather events on certain industries. He also noted that companies are under pressure to become more environmentally responsible, which can impact their profitability and valuation.

    Mansoor Madhavji, expressed his interest in the potential applications of blockchain and crypto, as well as the integration of blockchain and AI.

    Antek Kałuża, emphasized the importance of encouraging and supporting young people with innovative ideas through education and skill development, which can drive progress in various fields.

    Marianna Bulbucr, highlighted the importance of knowledge and education, as well as practical regulations for startups to thrive, and discussed the UAE’s commitment to delivering value to businesses and sustainability.

    Sean He, discussed the UAE’s favorable environment for startups and the importance of collaboration and policy changes for innovation and investment. The panelists also mentioned the impact of the Golden Visa program in retaining more developers and moving towards production rather than just consumption, as well as the importance of data ownership in the AI industry and the continued appetite for new technologies in China’s market.

    The highlight of this forum was a Unicorns Pitch Presentation – Unicorns from China will showcase their Top Innovation Projects and pitch their growth plans and potential for investors, which featured a video presentation Micheal LI- managing partner, Breton Company. She said, “Breton, founded in 2017, is the first company to successfully mass produce pure electric construction machinery and mining trucks.

    Their major innovative machinery includes the Pure Electric Loader (3, 5, 6 ton) and the Pure Electric Mining Truck (100 ton). By using electric machinery, the Chinese market can save over 10 billion dollars in social expenditure every year. This technology provides the benefits of low cost, renewable energy, and abundant transport capacity, contributing to a more prosperous global economy. Moreover, it has social benefits such as improving the working environment and protecting the rights and interests of workers.”

    Another presentation was presented by Lawrence Xiong – CEO of Armclouding, where he discusses how Armclouding plans to reshape the gaming industry. With hundreds of millions of users and over 100,000 developers, the Chinese gaming market is massive. WeChat and QQ have already launched instant-play platforms with a total revenue of 5 billion dollars in 2022 and a growth rate of 30%.

    China’s self-developed mobile games have also reached USD 39 billion in overseas markets, with an estimated market share of 45% in the global mobile market. Armclouding offers solutions to the gaming industry, such as instant-play games that don’t require downloads or registration, as well as interactive game streaming that allows users to interact while playing. The company aims to build a new global game community with an expected scale of more than 100 billion US Dollars.

    Next in line was a presentation by Mr. Martin Qu is the co-founder of Xiaoudida Smart Car Wash, which is recognized as the largest car wash company in China. With China having the largest automotive market and a significant potential for growth, the company has experienced a surge in automobile ownership from 120 million in 2012 to 319 million in 2022.

    The company operates on a complete ecological chain, from acquiring consumers to profiting, and utilizes cloud computing for their online business. They provide auto services, 24/7 car washes, and have established over 3700 smart stations in 22 provinces throughout China.

    Shenzhen Sharp Light Technology Co., Ltd., under the leadership of Mr. Longdong Chen, also presented. It serves as a leading designer of automotive camera products using single photon avalanche diode technology. They are committed to developing highly efficient, cost-effective, and mass-produced unmanned driving perception products that provide unparalleled unmanned driving performance. As a result, they are the world’s leading supplier of automotive perception solutions.

     

     

  • Global Leaders Debate at Annual Investment Meeting focuses on future of investment world to foster sustainable economic growth

    Abu Dhabi, United Arab Emirates, 9 May 2023: Global leaders gathered in Abu Dhabi to participate in the Global Leaders Debate, which took place on the sidelines of the 12th edition of the Annual Investment Meeting. The discussion brought together top decision-makers, thought leaders, and experts from various sectors to discuss the future of the investment world and foster sustainable economic growth, diversity, and prosperity.

    The panel discussion titled “Global Leaders Debate: The Future Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity, and Prosperity,” took place in two sessions. Spearheaded by May Ben Khadra, Business Anchor at CNBC Arabia, the first session included panelists such as Fatou Haidara, Deputy Director General, United Nations Industrial Development Organization; Antonio Pedro, Acting Executive Secretary, United Nations Economic Commission for Africa; Rashed Alblooshi, Undersecretary, Abu Dhabi Department of Economic Development; and Jung Sook Park, Secretary General, WeGO.

    Experts emphasised how the future paradigm shift towards sustainable economic growth presents numerous investment opportunities. These opportunities include investments in renewable energy, sustainable agriculture, clean technology, and green infrastructure. Additionally, investments in education and innovation can also drive economic growth and foster diversity, while promoting sustainable development. The key is to prioritize investments that have the potential to create long-term value while also addressing critical environmental and social challenges.

    Ms. Haidara said: “Equal opportunity should be provided to all stakeholders, including the private sector, as job creation cannot be achieved without their involvement. Rather than viewing the private sector as a hindrance, it is essential to develop appropriate policies and create a favorable environment for their participation. Collaborating with institutions and supporting entrepreneurs in making technological decisions are crucial steps in promoting investment and private sector technology.

    “Industrial development is a complex process that requires the contribution of the private sector. Women empowerment, government partnership, financial institutions, and inclusivity towards youth are also crucial in this process. The private sector plays a significant role in ensuring competitiveness within the value chains. To move towards renewable energy and away from fossil fuels, partnerships with organizations such as the African Union are necessary as one organization alone cannot achieve this goal.”

    Commenting on smart solutions in the UAE that drive economic growth, H.E. Alblooshi said, “The aftermath of the COVID-19 pandemic has resulted in changes in the way services are provided to stakeholders. Nowadays, smart applications are used to provide various services, making life easier and more convenient for investors.

    Looking at the industries, the economy has grown by 10% in 2022, and the non-oil sector has grown by 10.3%, indicating significant development in the economy. For both foreign and local investors, the UAE is a safe place to invest, thanks to its various incentive programs and clear strategy for diversifying the economy away from oil. The goal is to achieve sustainable economic growth that is built on innovation and knowledge-based sectors.”

    Highlighting the public sector’s role in driving growth, Ms. Park said: “Centralization refers to the decision-making power being shifted from national affairs to sub-national affairs, resulting in better accountability and delivery of services to citizens. Promoting political participation is essential for driving democracy, which is crucial for increasing productivity and economic growth.

    Decentralization is a key element in this transition. In Abu Dhabi, we see how cities like Masdar City, Sustainable City, and Expo City are built to prioritize conservation and job creation for the local economy. To support and focus on the public sector, urgent investments are required in the healthcare and education sectors due to the pandemic. The private sector is facing decline due to uncertainty. However, this is the best time for the public sector to invest in making cities better, as the pandemic and climate change have made inequality more evident through the digital demand and natural disasters.”

    In addition to the UAE, another country in focus that the panel discussed was Africa. Mr. Pedro said: “Africa is positioned to be a global leader in the future, but it must address issues such as carbon emissions and the growth of the transportation sector.

    By partnering with other nations, Africa aims to create job opportunities and increase exports by 2025. The COVID-19 pandemic has resulted in financial difficulties and increased debt, which highlights the need for a well-designed strategy and structure. Addressing fundamental issues is crucial, and the African government union commission is already taking steps towards this goal.”

    He further stated, “Although the economy is still dependent on oil by 50%, the non-oil sector is equally important. Among the six sectors that have a high impact on the economy, including ICT, financial services, tourism, bio and healthcare, and industry, the government has invested AED 10 billion in the industrial sector over the next five years.

    The aim is to double the GDP to AED 172 billion by 2031 and increase non-oil trade by AED 178.8 billion, creating 13,600 new jobs through various programs, including utility incentives. Abu Dhabi is known for its safety and security, making it an attractive destination for investors and their families.”

    The second part of the session was led by Ismail Ersahin, WAIPA CEO & Executive Director. It included speakers such as H.E. Wamkele Keabetswe Mene, Secretary General, African Continental Free Trade Area; Jun Ge, Group CEO, ToJoy; Georges Rebelo Pinto Chikoti, Secretary General, Africa Caribbean Pacific (OACPS); and H.E. Rustam Minnikhanov, Head, Republic of Tatarstan.

    H.E. Mene discussed about the opportunities that can be provided for intra-African trade and development. He said: “The current rate of intra-African trade is only 4%, which is relatively low due to existing barriers. Therefore, there is a need to establish protocols that provide investors with greater legal protection to instil confidence in their investments. The main objective is to promote African trade, create employment opportunities, foster innovation, drive industrialization, and address the current technology deficit faced by the continent.”

    In addition, Mr. Ge said, “China is seen as a promising destination and a driving force behind the world’s economic growth. It has offered higher returns on foreign investments compared to other developed countries in the last five years. If China’s GDP grows at a steady rate of 5% for the next five years, it will contribute to growth equivalent to the combined economies of Japan, India, and Indonesia.

    China’s technology sector is looked upon by many as a model to emulate, with a substantial share of global unicorns, indicating its potential in the industry. In healthcare, the market is expected to reach approximately USD2.5 trillion by 2030, and the pandemic has opened up opportunities for investors.

    Moreover, China is taking proactive measures towards a sustainable, low-carbon economy and has committed to investing USD20 trillion in this direction. Given these developments, China’s status as a key player in the global economy, with a focus on innovation and diversity, cannot be overlooked, despite the ongoing geopolitical tensions.”

    Mr. Chikoti said: “We are looking forward for investment in transformation of products so it can be transported and circulated across the continent and transform our economy of 1.2 billion people. Legislation facilities will focus on getting stronger to facilitate opportunity for what major investors has to offer our country which has been severely affected in the pandemic. Proud to be a part of this platform that will help our country with grants and eventually help our economy grow.”

    The panellists covered the most pressing issues affecting the global economy, such as disruptive technologies, climate change, geopolitical tensions, inflation, and debt levels. The panel discussion also examined investment opportunities that can transform the global investment landscape and investment world.

     

     

     

  • Mensha Ventures signs a Memorandum of Understanding (MoU) with its strategic partners from China to to bolster the UAE’s sustainable capabilities

    Mensha Ventures signs a Memorandum of Understanding (MoU) with its strategic partners from China to to bolster the UAE’s sustainable capabilities

    The company also signed a MoU with Asian Development & Investment Bank (ADIB) to launch their new Green Tech Fund

    Abu Dhabi, UAE, 9 May 2023:  Mensha Ventures, signed a Memorandum of Understanding (MoU) with its strategic partners from China, including the Asia Development & Investment Bank, Hoover Investment Group and Shenzhen Sinomaster Investment Group (SMT), to jointly invest $1 billion in green energy infrastructure projects in the region. The MoU was signed on the sidelines of Annual Investment Meeting which runs in Abu Dhabi.

    The primary objective of this partnership is to bolster the UAE’s sustainable capabilities and capacity by developing green energy infrastructure projects. This initiative will help the UAE achieve its renewable energy targets while reducing its carbon footprint. This partnership will help the companies leverage its collective expertise to create a lasting impact on the environment and society.

    While this partnership is expected to open up new avenues for sustainable investment opportunities in the region, it will also drive economic growth and contribute to the UAE’s vision for a sustainable future. Overall, this partnership between Mensha Ventures and its strategic partners from China marks a significant milestone in the UAE’s efforts to achieve a sustainable future.

    Further to the above, Mensha Ventures Chairwoman Dr Tan and the Asian Development & Investment Bank (ADIB) Mr Sun have signed an MoU to launch their new Green Tech Fund. The fund will have a primary focus in the GCC and aims to build portfolio companies with global expertise and best-in-class industry knowledge in Green Technology. Leveraging Chinese leading innovation and specialized manufacturing, the focus sectors will drive cutting-edge sustainable solutions into the local ecosystem.

    The Green Tech Fund’s focus sectors will specialize in New Energy, including EV infrastructure, engineering, storage, and transportation. It will emphasize the transition to clean energy through the means of electrical and green hydrogen energy. Mensha Ventures will be advocates and ambassadors, along with its strategic partners, in the movement of transitioning to a sustainable future globally, and importantly, here in the GCC.

    The GCC region has seen a significant push towards sustainable solutions in recent years, with countries in the region aiming to reduce their carbon footprint and achieve their renewable energy targets. The Green Tech Fund aims to play a vital role in this transition by investing in innovative green technology projects and driving sustainable solutions into the region’s ecosystem.

    Overall, the launch of the Green Tech Fund marks a significant milestone in the region’s efforts to achieve a sustainable future. By bringing together the collective expertise of Mensha Ventures and the Asian Development & Investment Bank, the Green Tech Fund aims to make a lasting impact on the environment and society.

     

     

  • African Critical Minerals: The Key to a Green Energy Future

    African Critical Minerals: The Key to a Green Energy Future

    Africa is well-positioned to leverage its immense wealth of critical minerals to participate in the global shift towards renewables while promoting socioeconomic growth, job creation, and local content development
     
    JOHANNESBURG, South Africa, May 8, 2023/ — Critical minerals are essential for the development of renewable energy technologies such as solar panels, wind turbines, green hydrogen, electric vehicles (EVs), and battery storage, and Africa’s mineral wealth has the potential to benefit not only the continent, but to provide a foundation for the global energy transition (https://apo-opa.info/42cMbC9).

    Accounting for more than 85% of most solar photovoltaic components, aluminum – for which bauxite accounts roughly 98% of its primary production – is used in most low-carbon technologies.

    Africa (https://apo-opa.info/3pmYNZa) is home to approximately one-third of global bauxite reserves, with Guinea alone having accounted for over half of global aluminum ore exports in 2020.

    What’s more, chromium accounts for over a third of the mineral demand for both geothermal and hydropower technologies and serves as a requisite material for the development of concentrated solar power (CSP). South Africa (https://apo-opa.info/44BqM7o) accounted for nearly 45% of the world’s chromium production in 2021, while Africa accounted for over 80% of global chromium ore exports in 2020. According to the International Energy Agency (IEA), chromium demand is expected to triple by 2030.

    Meanwhile, the IEA predicts that global demand for cobalt will rise six-fold by 2040, the vast majority of which is located in the DRC (https://apo-opa.info/3MTRYrB) and Zambia. Essential towards the production of lithium-ion batteries used in EVs and energy storage technologies, the DRC’s cobalt will be crucial towards the global shift from fossil fuel-based technologies.

    Additionally, Zambia and the DRC are world-leading producers of copper, which is used in renewable energy systems to generate power from solar, hydro, thermal, and wind energy. In 2021, the DRC mined the third largest amount of copper on the globe while Zambia currently accounts for over 12% of global production.

    Accounting for over one-fifth of the world’s reserves, Madagascar, Mozambique, and Tanzania’s combined graphite reserves will play a central role in the development of lithium-ion batteries, with the critical mineral serving as a crucial element for the development of EVs and battery storage technologies.

    Furthermore, accounting for over a quarter of mineral demand for CSP development and serving as a crucial element for many green energy technologies, demand for manganese is expected to increase three-fold by 2030, according to the IEA. Over 60% of manganese production occurs in Africa, with Ivory Coast, Gabon, Ghana, and South Africa all producing the critical mineral, with the latter serving as the world’s largest producer.

    The development of green hydrogen (https://apo-opa.info/3NMbwOW) and decarbonization of sectors such as heavy transport, heating, and industry would not be possible without the development of PGM minerals, which include the ideal metals, such as iridium, palladium, and platinum, for catalysts in proton exchange membrane fuel-cell technologies. South Africa accounted for over 70% of global platinum production between 2016 and 2020, and over 80% of global iridium production, while Zimbabwe serves as the world’s third largest producer of platinum and second largest producer of iridium.

    The extraction and development of critical minerals has been taking an increasingly central position in the global economy. As such, competition for access to Africa’s critical minerals is expected to grow exponentially in the coming decades as the world transitions to a low-carbon energy future, with the world’s largest economies – China and the U.S. – vying for strategic control over global critical mineral supply chains, thus placing Africa at the heart of the global energy transition.

    The nexus between the global energy transition and Africa’s critical minerals will be further unpacked during the African Critical Minerals Summit scheduled for this November in Johannesburg.

    The African Critical Minerals conference is organized by African investment promotion and events producer Energy Capital & Power.

    Distributed by APO Group on behalf of Energy Capital & Power.

    Contact Senior Director James Chester at james@energycapitalpower.com / +27 606754850 for information about participating in the summit.

    SOURCE
    Energy Capital & Power
  • Join the Movement: African Energy Week (AEW) Fosters an African Energy Renaissance with 2023 Theme

    Join the Movement: African Energy Week (AEW) Fosters an African Energy Renaissance with 2023 Theme

    African Energy Week 2023 will proudly take place under the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets’
    JOHANNESBURG, South Africa, May 8, 2023/ — Africa’s estimated 125.3 billion barrels of crude oil and 620 trillion cubic feet of proven gas reserves present an opportunity for the continent to accelerate the diversification of the energy mix and address energy poverty while driving industrialization, employment creation, gross domestic product growth and environmental sustainability. In this regard, the 2023 edition of the African Energy Week (AEW) conference and exhibition – Africa’s premier event for the energy sector which takes place in Cape Town from October 16-20 – is proud to take place under the theme, ‘The African Energy Renaissance: Prioritizing Energy Poverty, People, the Planet, Industrialization and Free Markets.’

    With over 600 million people across the continent living in energy poverty, 900 million without access to clean cooking solutions and African economies grappling with chronic shortages and high energy prices, the AEW 2023 theme reflects the urgent need for Africa to prioritize the needs of its people while correspondingly promoting sustainable development and industrialization, creating opportunities for free and open markets.

    “Africa has the potential to become a global leader in energy, but we must first address the urgent need to provide reliable, affordable and sustainable energy to our people,” said Verner Ayukegba, Senior Vice President of the African Energy Chamber, adding that, “This year’s theme underscores the importance of addressing energy poverty, driving large-scale project developments across the oil, gas, renewable and broader power sectors. At the same time, it reflects that it is imperative that we create the right conditions for investment to flow and the private sector to flourish.”

    Alleviating energy poverty will all come down to the continent’s strong pipeline of oil and gas projects. On the oil front, upstream projects to the likes of Eni’s Baleine project in Ivory Coast; Namibia’s three-fold discoveries in the Orange Basin; Zimbabwe’s onshore exploration campaign in the Muzarabani Basin, among others, continue to showcase the potential for upstream investment. Downstream, Angola’s three-refinery developments (Soyo, Cabinda and Lobito); the East African Crude Oil Pipeline; and other infrastructure developments offer new opportunities for petroleum distribution in Africa. All of these projects will be key for addressing energy poverty while accelerating industrialization.

    Meanwhile, climate action remains a top priority for Africa, as it represents the continent most impacted by climate change. As such, a series of sizeable low-carbon natural gas projects have and continue to be launched including Eni’s Coral South Project in Mozambique; TotalEnergies’ Mozambique Liquefied Natural Gas (LNG) development; bp’s Greater Tortue Ahmeyim project in Mauritania/Senegal; Perenco’s $1 billion LNG development in Gabon, among others. These developments open new prospects for power generation and distribution, job creation and capacity building, as well as revenue generation for countries continent-wide. As such, AEW 2023’s theme reflects the urgency behind these projects, focusing dialogue and deals on energy poverty, people and the planet.

    On the renewables front, Africa has emerged as a global green hydrogen investment hub with large-scale projects underway in Mauritania, Namibia, Egypt and South Africa. These projects aim to capitalize on the continent’s immense solar and wind potential, accelerating energy access and reducing carbon emissions. The continent’s focus on sustainable energy is underscored by AEW’s focus on the planet.

    While global energy transition related policies and restrictive local regulations and fiscal terms have disrupted the flow of foreign direct investments into African energy, this year’s AEW theme depicts the need for both established and emerging African energy producers to revitalize energy laws and prioritize the creation of enabling environments in which the private sector will thrive.

    In order for the continent to meet its energy and economic developments goals, prioritization must be placed on free markets, and AEW 2023 represents the platform where discussions on this topic will be held. Featuring investment-dedicated discussions and summits, AEW 2023 enables industry stakeholders to discuss best practices for the continent to maximize private sector participation while addressing investment and infrastructure gaps.

    “AEW 2023 will be a critical opportunity to advance the energy agenda in Africa and promote sustainable development across the continent. We have said it time and time again, Africa needs free market, increased private sector participation and business-enabling fiscal terms to grow. The AEW theme reflects this clearly and we look forward to welcoming delegates from across the globe to Cape Town for what promises to be a dynamic and productive event,” Ayukegba continued.

    Under this market-focused theme, a suite of high-level speakers will discuss growth opportunities across Africa’s entire energy value chain with the aim of accelerating energy security, climate change mitigation and value addition for local economies and people. In addition to dialogue, AEW 2023 will feature exclusive networking sessions and deal-signings, uniting African energy policymakers and companies with global investors. Additionally, technical workshops and presentations will showcase the latest innovations in technology and services while youth-led side events provide a platform for young entrepreneurs and industry players to engage with market leaders.

    For more information about AEW 2023, please visit the event website at www.AECWeek.com and secure your spot at the biggest gathering of energy stakeholders on the continent. Join the African Energy Chamber’s AEW 2023 and be part of the African energy renaissance.

    Distributed by APO Group on behalf of African Energy Chamber.

    SOURCE
    African Energy Chamber

  • Annual Investment Meeting highlights regional and destinations forums for investments

    The sessions focused on ASEAN and the Russia region as well as brought to focus investment destinations as Namibia, Moscow and Armenia

     Abu Dhabi, UAE,  8 May 2023:  The 12th edition of the The Annual Investment Meeting (AIM), the world’s leading investment platform, featured a series of regional and destination forums that highlighted investment opportunities in various parts of the world.

    South East Asian Region

    One of the key region in focus was the The Association of Southeast Asian Nations (ASEAN) region. Comprising of 10 economies, The ASEAN region has been among the fastest-growing regions in 2022 and is expected to remain so in 2023. With varying economic sizes, diverse markets, and a fast-moving population, Southeast Asia presents tremendous opportunities for global investors. This session highlighted how the ASEAN Business Advisory Council (ASEAN-BAC), under Indonesia’s Chairmanship of ASEAN, has set its priority, agenda, and legacy for regional policy reforms, focusing on digital transformation, sustainable development, health resilience, trade and investment facilitation, and food security.

    This session featured esteemed speakers, including M. Arsjad Rasjid P.M., Chairman of ASEAN Business Advisory Council and Indonesian Chamber of Commerce and Industry (KADIN) focusing on growth of ASEAN region. Additionally, a panel discussion moderated by Steven Marcelino, CEO & Managing Partner of Equatorise Advisory UK, saw insightful discussions byDr. Aladdin D. Rillo, Economic Research Institute for ASEAN and East Asia (ERIA), Andrew Naylor, Global Head of Public Policy, World Gold Council, and Supervisory Board Member, EU-ASEAN Business Council, Kartika Candra Negara, Consul General of the Republic of Indonesia in Dubai and Muhammad Yusrizki, Chairman for Net Zero Hub, KADIN and Tony Wenas, Vice Chairman for Investment KADIN Indonesia and CEO of PT Freeport Indonesia.

    Experts discussed how ASEAN Centrality aims to create a more inclusive future for the Southeast Asian region by leveraging its diverse markets, fast-moving population, and recent developments in sectors such as sustainable energy and high-tech industry. With the region expected to remain among the fastest growing in 2023, the session focused on strengthening cooperation to experience development in the upcoming years, and what global investors can do to tap into the opportunities to be part of this highly promising regional growth.

    Russia

    Another session in focus was Russia, that brought together experts and stakeholders from Russia and the Middle East to discuss the growing trade and economic ties between the two regions. The event highlighted how the increasing cooperation is leading to a favourable investment climate and opening up new opportunities for businesses to expand their operations and collaborate on large joint projects.

    This session was moderated by Mikhail Khomich, Managing Director of VEB.RF; Director of the Agency for Strategic Initiatives for Special Projects. It featured speakers as Maxim Reshetnikov, Minister of Economic Development of the Russian Federation, Alexander Stuglev, Chairman of the Board and CEO, Roscongress Foundation, Khaled Hanafi, Secretary General, Union of Arab Chambers, Elena Astapenko, Director, Department of Pharmaceutical Provision and Regulation of the Circulation of Medical Devices, Ministry of Health of the Russian Federation, Vadim Lobov, President, Synergy Corporation, Dmitry Kudlay, Vice President for the Implementation of New Medical Technologies, Generium, Sergey Cheremin, Minister and Director, Department of Foreign Economic and International Relations of Moscow, Moscow Government; Chairman of the Board, Business Council for Cooperation with India, Aleksandr Petrov, Chairman of the Subcommittee on Medicines, Development of the Pharmaceutical and Medical Industry, Committee of the State Duma of the Federal Assembly of the Russian Federation on Health Protection. It also featured participants as Andrey Terekhin, Trade Representative of the Russian Federation in the United Arab Emirates, Maximov Alexander, Honorary Representative of the Chamber of Commerce and Industry of the Russian Federation in the Middle East.

    During the session, the specific areas of cooperation that the Middle East countries are interested in were also discussed. This included investment activity, the development of high-tech sectors of the economy, urban development, healthcare, and social and cultural sectors. Participants explored the potential for development in these areas and how they can work together to create mutually beneficial projects.

    The discussion also focused on the new geopolitical challenges facing the region and how they could affect the development of relations between Russia and the countries of the Middle East. The experts highlighted that while these challenges could be seen as a barrier, they could also present an opportunity for the two regions to work together more closely and develop successful joint business initiatives.

    Overall, the session provided a platform for experts and stakeholders to exchange ideas and explore the potential for collaboration between Russia and the Middle East. It highlighted the importance of building strong economic ties and partnerships between the two regions to promote growth, create jobs, and enhance the well-being of people in both regions.

    The Moscow Destination Forum also showcased the city’s status as one of the world’s largest urban economies and the largest in Russia, with a comfortable business environment and support for business initiatives. Moscow offers access to high-quality labour resources, scientific and educational potential, and is among the world’s leaders in terms of innovative attractiveness. The forum also highlighted Moscow’s focus on sustainable development and efforts to implement the principles of ESG.

    This session featured speakers as H.E. Sergey Cheremin, Minister of Moscow City Government Head of the Department for External Economic and International Relations of Moscow, Alexander Pinsky, Director for International Activities of Sitronics Group, Mr. Artemy Urodovskikh – VP of Business development, Big3 LLC, Maria Bogomolova, CEO of Moscow Agency of Innovations and Dmitriy Markov, CEO of Vision Labs LLC.

    The forum provided a platform for investors to interact with local businesses, government officials, and other stakeholders, allowing them to gain a deeper understanding of the investment climate in Moscow. Participants engaged in discussions on topics such as regulatory policies, infrastructure development, and investment incentives. The city’s strategic location between Europe and Asia, combined with its rich cultural and historical heritage, make it an attractive investment destination for a wide range of industries.

    Commenting on Metropolises investment strategies for sustainable development, H.E. Sergey Cheremin, Minister of Moscow City Government Head of the Department for External Economic and International Relations of Moscow said, “The country’s economy is the largest in the world. The comfortable urban environment and the socially oriented sustainable economy have largely contributed to the steady investment growth in the country. It is to be noted that the country is one of the world’s largest ecosystems and will soon have year-round river transport, making it a good and healthy opportunity for investors looking to participate in the country’s future plans for economic growth.”

    Speaking about The Moscow Innovation ecosystem, Mrs. Maria Bogomolova – CEO of Moscow Agency Of Innovations said, “The purpose of this corporation is to bring together the efforts of the local government, corporations and technology companies to develop cutting-edge technology. The corporation will aid on pilot testing the start-ups, find investors, and extend invite to the international corporations as a speaker in the investors Forum in Moscow etc.”

    Furthermore, Mr. Alexander Pinsky – Director of International Activities, Sitronics Group presented the Sitronics Group; a company with an idea of smart city technology. He said, “We are a company of the future. Investors are able to use this technology as a way to invest into the future. This type technology make and generate direct profits.”

     Mr. Artemy Urodovskikh – VP of Business development, Big3 LLC introduced The Big Three software which is a tool to optimize on how to save upto 30% of waste management. He said, “The B3 Universal platform has enabled the country to reach a fundamental new level of automation. We are poud of this achievement and are hoping that this platform will help us further our growth.”

    Mr. Dmitriy Markov – CEO of Vision Labs LLC said “Machine learning experts specialize in the development of goods and solutions for face recognition, object detection, augmented reality, and virtual reality, making Moscow one of the world’s most innovative cities. We are proud to be a major contributor here.”

     The session also highlighted the growth that Moscow had witnessed 20 percent more number of enterprises over the last year. The manufacturing industry grew by 10.2 percent, while construction work increased by 13.4 percent. Also, over 100 innovations were implemented in 2022 Through the forum, Moscow was able to showcase its competitive advantages and investment opportunities, including the development of its transportation infrastructure, technology sector, and industrial parks. The city is among the world’s leaders in terms of innovative attractiveness, and it tops the Innovation Infrastructure index. To date, there are 3 innovation clusters, 51 technoparks, and over 100 co-working spaces in the city.

    The forum also allowed participants to network with other investors and businesses, providing them with valuable insights into the city’s investment landscape. Overall, the Moscow Investment Destination Forum was an essential platform for Moscow to promote itself as a leading investment destination, and for investors to explore the city’s vast investment potential.

    Africa Region, Namibia in Focus

    Another destination in focus was Namibia. This session highlighted the country’s potential as an investment hotspot, citing that the country has a GDP of  USD 13 Billion in 2022, exports worth USD 3.2 Billion in 2021 and imports worth USD 4.8 Billion in 2020.

    In addition, the country is rich in oil and gas, as well as large-scale projects in renewable energy, particularly green hydrogen. The country’s impressive tourism landscape, emerging MICE sector, and opportunities in agriculture were also highlighted.

    Key speaker Nangula Nelulu Uaandja, Chief Executive Officer of Namibia Investment Promotion and Development Board (NIPDB) highlighted what makes Namibia a potential investment hotspot. She said, “Apart from the energy sector and Namibia’s tourism landscape, featuring breathtaking landscapes, diverse cultures, and rich wildlife, agriculture is another important sector in Namibia. Around 70% of the population depends directly or indirectly on agriculture for their livelihoodswith the country exporting high-value fruits to key markets such as the UAE, UK, and EU market. Investors can find investment opportunities across the entire value chain of both the livestock and horticulture industries.”

    This exciting session presented an opportunity for investors to explore the country’s investment landscape, learn more about the business climate, and network with key stakeholders. In addition, the session also shared Namibia’s aspirations for Golden Visa, Sector Focused Investment Promotion Drive – Green Industrialisation, Impactful Investments Incentive Scheme, Cybercrime Bill & Data Protection Bill and more. In addition, IRIYA JONA, KELP BLUE NAMIBIA REPRESENTATIVE highlighted the vision of the KELP BLUE is the potential cultivation of the Giant Kelp” macrocystis pyrifera” which is also known as seaweed. Iriya also highlighted how Kelp forests helps sustain healthy marine ecosystems, providing food and shelter for countless species.

    Lastly, the session closed with remarks by Jessica Hauuanga, Head of Investment Experience Retention and Aftercare Namibia Investment Promotion and Development Board. He stated, “Namibia has great economy and a massive potential for investors. The key sectors in the country’s industry are the main drivers of Namibia economy opening up investors opportunity and promoting the beauty of the country as well.”

    Armenia Destination

    In addition, the event also highlighted The Republic of Armenia as an Investment Destination. It emphasized the country’s location as a vital trade route connecting Europe and Asia, offering easy access to different parts of the world. The Armenian government is taking considerable steps to improve the business climate and create favourable conditions for investments in sectors such as energy, infrastructure, technology, agriculture, food processing, tourism, and textiles. The country’s access to large export markets with preferential conditions were also highlighted. It also focused on how compared to period between Year 2021 and Year 2022, the economic activity growth has increased by 14.2%.

    Spearheaded by experts as Mrs. Alina Yegiazaryan, Head of the Investment, Promotional and Foreign Relations Enterprise Armenia, the event featured speakers as H.E Mr. Karen Grigoryan, Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to the UAE,  Mr. Vahan Kerobyan, Minister Of Economy of the Republic of Armenia, Mr. Levon Ohanesyan, General Director Enterprise Armenia and Mr. Edik Harutyunyan, Senior Manager Of Investment Promotion and Foreign Relations Enterprise Armenia

    In this session, Mrs. Alina Yegiazaryan introduced Armenia as a country with a vibrant economy and a country with great opportunity for investors.

    H.E Mr. Karen Grigoryan speaker stated, “Though the country has recorded regional instability due to the Covid pandemic, the country remains a reliable hub for investors connecting Middle East and Europe markets. Not only does the country has comprehensible tax system but a stable local currency and competitive market. Cheap electricity, and great partnerships make Armenia a great investment destination.”

    Mr. Vahan Kerobyan emphasized on the country’s economic data growth. He said, “The economic development of Armenia has increased from Year 2021 to Year 2022 by 12.6%. This growth has been as a contribution from the country’s key industries in Finance, IT, Manufacturing & Construction. This makes the country reliable partners for investment and successful growth.”

    Mr. Levon Ohanesyan said, “The increase in the country GDP, is one of the key highlight of appealing investment location to foreign investors and the Armenia government is committed to providing solid support to new and potential investors as early as their initial stages as they contribute to the economy of the country.”

    Mr. Edik Harutyunyan said, “The investment climate of Armenia is stable and solid for the country’s economic growth, which is favorable to the business development. Moreover, the government of Armenia is committed to provide safe and support programs to the investors in exchange to investing opportunities in the country’s economy.  The economy of the country is comprehensive, reliable and free of charge and has a great potential to new investors.”

    In this session, experts highlighted that an essential aspect to consider when investing in Armenia is its access to large export markets with preferential conditions. Thanks to Armenia’s diversified economic relations, its products can be exported to a consumer market of 1 billion people with 0% or reduced customs duties.

    With its educated workforce, strategic location, and supportive business environment, Armenia has the potential to become an attractive destination for foreign investment in the years to come.

  • Under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi

    Under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi

    Annual Investment Meeting 2023 kicks off at ADNEC in Abu Dhabi

    Abu Dhabi, United Arab Emirates, 8 May 2023: Under the patronage of His Highness Sheikh Khaled bin Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive Council, the Annual Investment Meeting (AIM Global 2023) was inaugurated today (8 May) at the Abu Dhabi National Exhibition Centre (ADNEC) in Abu Dhabi.

     Held in collaboration with the Ministry of Industry and Advanced Technology and the Abu Dhabi Department of Economic Development, this year’s edition of the Annual Investment Meeting is anchored on the theme “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity and Prosperity.”

    The global event witnessed a remarkable attendance of vast number of government ministers, decision-makers, and industry leaders from various countries around the world, as well as investors, senior representatives of multinational and large companies, startups, small and medium-sized enterprises, smart cities solutions providers, technology services vendors, and a large number of visitors from over 170 countries worldwide.

    The first day of AIM Global 2023 kicked off with a series of keynote speeches and live panel discussions with top policy makers and business leaders as they shared their experiences and expertise with the participating delegations focusing on the current economic conditions and potential investment opportunities.

    The list of speakers included prominent officials and economic figures, such as His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and His Excellency Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development (ADDED).

    Welcoming the guests during his speech, Dr. Thani Al Zeyoudi said: “It is my pleasure to welcome you all on behalf of the UAE government to the Annual Investment Meeting being held under the theme of ‘The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity and Prosperity’. The aim of this event is to discuss and explore current and future investment opportunities, promote foreign investment, and enhance sustainable economic growth on a global scale. We anticipate a series of discussions and agreements between governments, business leaders, and investors to achieve these goals throughout the three days of the event.”

    In his remarks, Dr. Thani Al Zeyoudi emphasized the importance of sustainable global economic growth, which lies in achieving integration across different sectors and adopting investment policies based on deploying advanced technologies that reduce carbon emissions and rely on clean and renewable energy sources to contribute to sustainable development. He also stressed on the significance of public-private partnerships in investing in the integration and interconnectivity of supply chains.

    He referred to the results of the 2022 Foreign Direct Investment report released by the United Nations Conference on Trade and Development, which ranked the UAE first regionally and 19th globally in terms of its ability to attract foreign direct investment. The report also ranked the UAE 17th globally in terms of its foreign investments, with investment flows from the UAE reaching $22.5 billion in 2021, an increase of 19% compared to 2020.

    Moreover, Dr. Thani Al Zeyoudi highlighted the importance of the Annual Investment Meeting as one of the largest investment gatherings in the world, bringing together top officials, investors, and business delegations from different countries to meet, discuss, and forge strategic partnerships in Abu Dhabi, which has solidified its position as a global hub for business growth and development and a preferred destination for international events and exhibitions.

    In his keynote speech, His Excellency Ahmed Jasim Al Zaabi, Chairman of the Abu Dhabi Department of Economic Development’s (ADDED) highlighted the great strides made by Abu Dhabi  in achieving its economic diversification strategy, and laying down a solid foundation to continue developing a knowledge-based, innovation-driven economy. H.E. said ”Abu Dhabi is witnessing the rise of the Falcon Economy which continues to go from strength-to-strength, driven by agile policies and robust regulatory and legal framework, making us an anchor for companies looking to expand their operations in the region. Our rapid economic growth, along with the growing confidence of the international community to live, invest and thrive in Abu Dhabi, make us an ideal destination of choice”.

    H.E. has announced that “The Abu Dhabi’s real GDP in 2022 has exceeded AED 1 trillion, with non-oil sectors contributing by 50% of teh total GDP, reaffirming success of economic diversification strategy which encouarges public-private partnership and foreign and domestic investments. Our aim is to increase Abu Dhabi’s non-oil exports by 143% to AED 178.8 billion by 2031”.

    H.E. Al Zaabi further explains: “Abu Dhabi’s remarkable success story is only in its initial stages, and it will continue to thrive as the most competitive destination for industry, trade, and finance in the region. We continue to offer unparalleled support and incentives to help global businesses succeed, with business enablers and innovation hubs, and solid investment entities that provide funding.  To strengthen Abu Dhabi’s economy and accelerate economic diversification, we have launched a series of bold initiatives solidifying our business-friendly ecosystem. This is a testament to Abu Dhabi’s role as a business enabler and our efforts to provide a solid infrastructure for businesses to thrive”.

    The first day of the event featured the Global Leaders Debate and the Fireside Chat with Russia with the participation of ministers, high-ranking government officials, and senior officials of international organizations. In parallel, several panel discussions were organized as part of AIM Global 2023’s Investment Track and Innovation & Technology Track.

    Under the Investment Track, the first session tackled the “Global Economic Outlook: Beyond the Paradigm Shift, Where Next for the Investment Market,” which explored the opportunities for FDI and FPI in identifying changes that will transform the global investment landscape.

    The “Abu Dhabi Initial Public Offering (IPO) Fund” session came next, followed by a session entitled “Devoting FPIs Towards a Greener World,” and, finally, the “Creating Resilient Supply Chains to Enhance Growth Opportunities” session.

    The focus of the Innovation & Technology Track, meanwhile, was on future cities, digital transformation, and transitioning between future transformative technologies, as well as leveraging foreign direct investment towards future cities. In addition, the role of startups in achieving economic growth was also discussed, along with the role of small and medium-sized enterprises in expanding the technology market and implementing more modern technological solutions and attracting investments.

    On the sidelines was the “2023 Entrepreneurs Investment Summit” held under the sponsorship of the League of Arab States, and organized by the Union of Arab Chambers, the Arab Bank for Economic Development in Africa, and the United Nations Industrial Development Organization Investment and Technology Promotion Office – Bahrain. The summit provided a platform dedicated to promoting bankable investment opportunities led by entrepreneurs, small and medium-sized enterprises, and macro investments from the region, among other objectives.

    The World Health Organization’s “World Local Production Forum” discussed enhancing access to medicines and other health technologies through collective action, and the importance of investing in innovation and technology transfer to improve and sustain healthcare services.

    The “Global Credit Management & NPL Investments Forum,” organized by DDC Financial Group, featured three dialogues, which tackled the available opportunities for investors in the field of non-performing loans as well as the current economic environment and its impact on the rising interest rates, among other topics.

    The first day of the forum witnessed a remarkable turnout of visitors, in addition to distinguished participation from several countries to showcase their top investment opportunities, including Moscow, Armenia, Georgia, and Namibia. There was also the Association of Southeast Asian Nations (ASEAN) Regional Focus Forum, which was organized in collaboration with the ASEAN Business Advisory Council.

     

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  • Nigerian Industry,Trade and Investment Minister Urges Incoming Investors

    Nigerian Industry,Trade and Investment Minister Urges Incoming Investors

    ……..As Global Investors Storm Abu Dhabi on Sunday

    Story: Mohammed Abu

    Ahead of the opening of the Annual Investment Forum (AIM Global 2023), in the UAE’s, capital of Abu Dhabi next week, H.E. Amb. Mariam Yalwaji Katagum, Minister of State Industry, Trade and Investment, Nigeria, urges incoming investors to align themselves with the Ministry’s overall policy thrusts.

    The Ministry’s policy thrusts the Minister said, was informed by three thematic areas of focus namely, Domestication of production of key commodities through our Backward Integration Program (BIP); Driving the growth of Micro, Small and Medium Enterprises (MSMEs), especially through access to finance and markets; and Cultivating Foreign Direct Investments (FDI) particularly through improving the Ease of Doing Business in Nigeria.

    Investors who are seeking to come into the country she said, were assured of the protection and promotion of their investments, as the Federal Government of Nigeria is tirelessly working to improve the ease of market entry and doing business processes through the signing of the new Companies and Allied Matters Act (CAMA) and the yearly revision of the Finance Act.

    “Like I always mention, whenever I have the opportunity, Nigeria is the best place to invest in Africa and we look forward to welcoming all of you”, the Minister added.

    She was speaking in an exclusive interview with your favourite, Eco-Enviro-News Africa on what are her expectations, what are the benefits her country has made through their participation in the previous editions of the event so far among other things.

    Now read on for the rest of what H.E. had to tell your favourite,Eco-Enviro-News Africa magazine

    First of all, let me thank you for providing this space, through which to share my perspectives.

    Q1. As one of the high-level Africa region VIPs participating in AIM Global 2023, what are your expectations so far as your participation in the event is concerned?

    My expectations so far, include the following:

    • Establish contacts and network in key industries of the AfCFTA and Investors. As the Minister of State, Industry, Trade, and Investment in Nigeria, this platform will provide me the veritable opportunity to connect and network with like-minded individuals and potential investors from various sectors and industries.
    • On Investment opportunities: I hope to showcase Nigeria’s investment opportunities to the world for potential investors to explore and identify investment opportunities in Nigeria, as well as learn about investment opportunities in other emerging markets and sectors, to attract more Foreign Direct Investments (FDIs) for my country, Nigeria.
    • On knowledge sharing and capacity building: I am confident that from the sessions and workshops on various topics related to investment, innovation, and entrepreneurship, these meetings and sessions will assist me to gain more insights and knowledge on global trends, best practices, and emerging technologies that can help drive economic growth and development in Nigeria.
    • On brand visibility: My participation at this high-level meeting will further help enhance the visibility and reputation of Nigeria as a prime investment destination, as well as showcase the country’s potential and investment opportunities to the global business community.
    • While on partnerships and collaboration: I hope the meeting provides a platform for fostering partnerships and collaborations between governments, businesses, and other key stakeholders and as the Minister, I hope to explore and establish partnerships and collaborations, sign Memorandums of Understanding (MoUs) if possible, with other countries and organizations that can help drive economic growth and development in Nigeria.

    Q2.    Among West African Countries Nigeria is noted for her passionate participation during a number of major Arab Gulf region hosted events including AIM Global. Would you like to talk about the benefits Nigeria, West Africa region stand to benefit from participating in it?

    Yes, I agree with you that Nigeria is passionate in participating in major Arab Gulf hosted events such as AIM Global, because the Federal Government of Nigeria looks forward to every opportunity to strengthen her economic ties, promote investment opportunities, enhance diplomatic relations and learn from the experiences of the other emerging nations. Nigeria believes that events such as this will further bring about significant economic and social benefits for the region.

    Notable benefits for both Nigeria and the West Africa region include:

    • Increased investment opportunities: By participating in the event, Nigeria and West Africa can attract more investments from the Gulf region, which can help drive economic growth and development.
    • Enhanced trade relations: Participating in AIM Global can help to enhance trade relations between Nigeria, West Africa, and the Gulf region. By showcasing Nigeria’s potential and investment opportunities, we can attract more Gulf-based companies to invest in Nigeria and also expand our exports to the Gulf region.
    • Knowledge sharing and capacity building: By participating in the Conference Sessions, Nigeria and West Africa can gain insights and knowledge on global trends, best practices, and emerging technologies that can help drive economic growth and development.
    • Partnerships and collaborations: By participating in the event, Nigeria and West Africa can explore and establish partnerships and collaborations with Gulf-based companies and organizations that can help drive economic growth and development in the region, as well as showcase the region’s potential and investment opportunities to the global business community.

    Nigeria has an emerging Halal Market. We are therefore looking for partnerships in this regard.

     Q3.    For how long has Nigeria been participating during AIM Global events and what has been the positive impact if any, in terms of Nigeria bound FDI inflows, UAE-Nigeria cross border trade and tourism?

    Nigeria has been participating in the Annual Investment Meeting (AIM) for several years. To the best of my knowledge, the event has provided a platform for Nigeria to showcase its investment opportunities and attract Foreign Direct Investment (FDI) from around the world, including the UAE and other Arab Gulf countries.

    However, while it is difficult to measure the exact impact of Nigeria’s participation in AIM Global on FDI inflows, Nigeria-UAE cross-border trade, and tourism, there have been some positive developments in recent years.

    For example, according to the UNCTAD, FDI inflows from UAE to Nigeria amounted to $1.3billion in 2020, which represents significant increase. The UAE is currently the third–largest source of FDI for Nigeria. This suggests that there has been an increase in trade relations between the two countries, which could be attributed, in part, to Nigeria’s participation in events like AIM Global.

    In terms of FDI, Nigeria has been working to attract more foreign investors in recent years, and events like AIM Global provide a platform for showcasing Nigeria’s potential and investment opportunities. According to the United Nations Conference on Trade and Development (UNCTAD), FDI inflows to Nigeria increased by 13% in 2019, reaching $3.3 billion, which suggests that Nigeria is making progress in attracting more foreign investments.

    As for tourism, it is also difficult to measure the exact impact of Nigeria’s participation in AIM Global. However, it is worth noting that the UAE is a popular tourist destination for Nigerians, and events like AIM Global could help to promote tourism and cultural exchange between the two countries.

    Overall, Nigeria’s participation in AIM Global and other similar events provides an opportunity for the country to showcase its investment opportunities and attract more foreign investment, enhance trade relations with other countries, and promote cultural exchange and tourism.

    Q4.Lack of direct shipping lines between the Arab Gulf region and West African sub-region has since been identified as a major factor militating against meaningful import and export trade between the two regions. What is your take on that and your advice on how best to mitigate the problem?

    The issue of direct shipping lines between West Africa and the Arab Gulf region has been a challenge that has made it more difficult and costly to transport goods between the two regions.

    I believe this can be resolved through a combination of policy measures, technology integration and infrastructural development that supports direct shipping especially in West Africa. Collaboration between Government and the private sector and partnership with international originations such as World Bank, IMF and UNCTAD can provide technical assistance and funding to support direct shipping to increase trade between the two regions. This will help to facilitate trade and reduce the cost and time required to transport goods between the two regions.

    In addition to establishing direct shipping lines, it is also important to enhance the capacity of existing port infrastructure in both regions to handle larger volumes of cargo and increase efficiency. This will require investments in modern technology, equipment, and personnel training to Improve the speed and efficiency of cargo handling and processing.

    In summary, the establishment of direct shipping lines between the Arab Gulf region and the West African sub-region, combined with investments in port infrastructure, and the removal of other trade barriers will go a long way in promoting meaningful import and export trade and enhancing economic growth and development in both regions.

    As the Minister of Industry, Trade, and Investment, I am committed to exploring and implementing measures that will enhance trade relations between Nigeria and other West African countries and the Gulf region.

    Q5. The UAE has since been rated as second after China in terms of quantum of FDI inflows into Africa region. In the same view, the UAE authorities have also expressed interest in seeing investment inflows from Africa to the UAE in the spirit of enhancing more beneficial win-win relations. What is the cross-border investment status between Nigeria and UAE as of now?

    Overall, the cross- border investment relationship between Nigeria and the UAE appears to be improving with both countries seeking to deepen economic ties and explore new investment opportunities. For example, the UAE has invested heavily in Nigeria’s energy sector, with major investments in oil exploration and production, power generation and renewable energy and real estate. On the other hand, Nigerian investors have been increasingly exploring investment opportunities in the UAE, particularly in real estate and hospitality.

    Q6.    One will not be far from right to say that; AIM Global is set to offer a suitable platform for seeking investor buy-in to the all-important Africa Continental Free Trade Area (AfCFTA) agenda of the AU, what is your take on this?

    As Minister of State, Industry, Trade and Investment,I believe that leveraging the AIM Global platform to seek investor buy-in to the AfCFTA agenda of the AU, is an excellent idea.

    The AfCFTA is a game changer for the African continent, as it creates a single market for goods and services, with free movement of people and capital and promotes intra African trade. It is a unique opportunity to promote industrialization, economic diversification and job creation in Africa.

    Therefore, leveraging on this platform would help to showcase the enormous investment opportunities that the AfCFTA presents to investors from around the world. This will not only attract FDI but, also build partnerships and collaborations with international investors and African businesses, leading to the transfer of technology, skills and knowledge. It will also address the misconceptions and concerns that investors may have about doing business in Africa.

    In summary, I support using the AIM platform to promote the AfCFTA agenda and believe that it will help to unlock the full potential of the AfCFTA and promote economic growth and development in Africa.

    Closing statement:

    I want to thank all the participants, speakers, exhibitors and sponsors who have made the AIM a success. Your contributions and insights have been invaluable and I hope that this event has been a valuable platform for us to achieve our goals. Let us continue to work together to build a brighter future for all. Thank you.