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Category: Middle East/Asia

  • Russian Investment Forum Showcases Opportunities at 2024 AIM Congress

    Russian Investment Forum Showcases Opportunities at 2024 AIM Congress

    Abu Dhabi, 9th May, 2024: The Russian Investment Forum, held under the International Partners’ Track during the 2024 AIM Congress at the Abu Dhabi National Exhibition Centre (ADNEC), brought together key figures from Russia’s business landscape to highlight the nation’s unique opportunities for global investors.

    They also affirmed that Abu Dhabi’s exceptional location makes it an ideal site for establishing a global technology hub to meet the needs of various sectors.

    Under the esteemed session, notable speakers including Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation and chairman of BRICS Business Council, Russia Chapter, alongside representatives from diverse Russian regions, provided insights into Russia’s investment potential and showcased various projects ripe for investment.

    Mr. Katyrin, in his address, emphasized Russia’s robust economic standing, ranking first in Europe and fifth globally in terms of GDP. He underscored the nation’s commitment to fostering a conducive investment environment through federal and regional investment legislations, with a focus on attracting foreign investors.

    Highlighting the country’s trade turnover with BRICS countries, which reached a record $294 billion by the end of 2023, Mr. Katyrin showcased an investment map of Russia, revealing over 600,000 infrastructure facilities, 412 industrial parks and technoparks, and 159 preferential regimes and territories, providing a comprehensive overview and diverse opportunities for potential investors.

    “We are working on federal and regional investments legislations. We have four directions to attract investors and about 70 indicators measuring the direction,” said Sergey Katyrin, President of the Chamber of Commerce and Industry of the Russian Federation and chairman of BRICS Business Council, Russia Chapter.

    Galina Dziuba, President of the Chamber of Commerce and Industry of the Sakhalin Region, highlighted the unique opportunities available in the Far East region, inviting investors to explore the abundance of natural resources and burgeoning industries, particularly in oil and gas.

    She extended an invitation to participate in the upcoming oil and gas forum in Sakhalin, emphasizing opportunities for collaboration and investment in the region’s energy sector.

    “Our region have a lot of natural resources and more than 70 deposits for coal mining,” said Galina Dziuba, President of the Chamber of Commerce and Industry of the Sakhalin Region.

    Eugene Borisoff, Deputy Director of the Internet Initiatives Development Fund, emphasized the growing need for innovation, citing the Global Innovation Index 2023. He proposed Abu Dhabi as an ideal location to establish a global technology hub, catering to various sectors including renewable and traditional energy, space technologies, digital systems, and transportation.

    “Abu Dhabi location is ideal to make it as a global technology hub for different sectors such as renewable and traditional energy, space technologies, digital system, transport, and autonomous transport,” Eugene Borisoff, Deputy Director of Internet Initiatives Development Fund.

    Dr. Elena Faizrakhmanova, Chairman of the Tatarstan Chamber of Commerce and Industry, showcased Tatarstan’s strategic location and diverse industries, positioning the region as a hub for investment opportunities in industry, trade, agriculture, and e-commerce. Highlighting the innovative city of Innopolis, Dr. Faizrakhmanova showcased Tatarstan’s commitment to fostering a business-friendly environment conducive to investment and growth.

    “We are in the center of the European part of Russia. Tatarstan has industry trade, agriculture, e-commerce and leading in investment climate for 10 years,” Dr. Elena Faizrakhmanova, Chairman of Tatarstan Chamber of Commerce and Industry.

    Andrei Shestakov, President of the Chamber of Commerce and Industry of the Tula Region, emphasized the region’s technological prowess and highlighted investment opportunities in innovative projects such as smart roads and thermoelectric modules. He extended offers for investors to engage in technology acquisition or partnership opportunities within the region.

    “In Tula, we have excellent human resources and a lot of scientists and engineers. There are many technological projects to invest such as innovative solutions for the smart road,” said Andrei Shestakov, President Chamber of Commerce and Industry of the Tula Region.

    Bogoslovskaya Marina, President of the Chamber of Commerce and Industry of the Republic Sakha (Yakutia), showcased the unique tourism experiences offered by the region, despite its cold climate. She highlighted opportunities in gastronomic tourism and pure water production, inviting investors to explore the untapped potential of the region’s tourism sector.

    “We offer a unique tourism experience. We have tourists coming for hunting and fishing practically in December. We offer gastronomic tourism and pure water production,” said Bogoslovskaya Marina, President of Chamber of Commerce and Industry of the Republic Sakha (Yakutia).

    The Russian Investment Forum served as a platform for dialogue and collaboration, providing attendees with valuable insights into Russia’s investment landscape and fostering partnerships for mutual growth and development.

    AIM Congress 2024 is hosting more than 150 high-level dignitaries, with 900+ speakers and over 12,000 participants from 175 countries around the world participating. AIM Congress has also organized 27 joint events in cooperation with over 330+ local, international, and global partners.

  • AIM Startup and Unicorns Track: Insights and Innovation Take Center Stage at 2024 AIM Congress

    AIM Startup and Unicorns Track: Insights and Innovation Take Center Stage at 2024 AIM Congress

    Abu Dhabi, 9th May, 2024: The 2024 AIM Congress, held at ADNEC in Abu Dhabi from May 7 to May 9, showcased a dynamic exchange of visionary ideas and strategic insights during the AIM Startup and Unicorns Track sessions. These sessions, featuring esteemed moderators and panelists, unveiled groundbreaking perspectives and transformative opportunities across various industries.

     Middle East Unicorns Conclave: Unicorns and Mobility Industry

    Moderated by Mohamed Nagaty, the session illuminated the evolving landscape of unicorns and the mobility industry, with Mohamed Ezzat of Tech Logistics (Bosta), Salman bin Mohammed Al Suhaibaney of Morni, Maan Khalid Eshagi of Professional Wealth Management Venture Capital, and Faisal Hilal, CEO of Ahlan, sharing their expertise.

    “Becoming a champion in your own market is essential; smaller markets offer less competition and significant benefits. However, thorough financial analysis is imperative,” said Faisal Hilal, CEO of Ahlan.

     Korea Unicorn Investment Conclave: The Relationship Between Big Tech Cities and the Emergence of New Unicorns

    Under the moderation of Rachel Cho, the session explored the vibrant investment landscape in Korea, featuring insights from Dr. Kiho Park of LB Investment, Dr. Kim of Invest Korea, Kyungsoo Noh of Seadronix, and Jinkyung Kim of Big Value.

    “Founders are the most critical factor in the success of ventures. Strategic partnerships and a long-term vision are essential for sustainable growth,” said Kiho Park, CEO of LB Investment.

     China Unicorns: Electric Vehicles and Energy Transformation

    Moderated by Aly Ramji, the session delved into the transformative potential of electric vehicles and energy in China, with insights from Sean He, Founder of Silicon Harbor.

    “As investors, we must prioritize sustainability in our decisions. China’s commitment to environmental concerns underscores the importance of adopting technologies that reduce pollution and promote sustainability,” Sean He, Founder of Silicon Harbor.

    These sessions epitomize the AIM Congress’s commitment to fostering innovation and collaboration on a global scale, empowering attendees with actionable strategies to navigate an ever-evolving business landscape.

    AIM Congress 2024 is hosting more than 150 high-level dignitaries, with 900+ speakers and over 12,000 participants from 175 countries around the world participating. AIM Congress has also organized 27 joint events in cooperation with over 330+ local, international, and global partners.

  • 2024 AIM Congress in Abu Dhabi Sparks Conversation on Investment, with Focus on Asia and Europe

    2024 AIM Congress in Abu Dhabi Sparks Conversation on Investment, with Focus on Asia and Europe

    Abu Dhabi, 9th May, 2024:: The 2024 AIM Congress, held at the Abu Dhabi National Exhibition Centre (ADNEC) from May 7 to May 9 saw an huge convergence of industry leaders, policymakers, and visionaries.

    The  Congress sessions were held under the Investment Track, Regional Focus Forum Track,and Investment Destination Track, fostering dialogue, collaboration, and innovative solutions to global challenges.

    Investment Track

    The “Leader’s Panel: Geopolitical Tensions 2024: New Challenges and New FDI Destinations” session brought together speakers who discussed the landscape of Foreign Direct Investment (FDI). Participants underscored the significance of attracting new FDI to diverse global destinations amidst intensifying competition. Ms Biviana Riveiro Disla, Executive Director of the Export and Investment Center of the Dominican Republic, highlighted her country’s streamlined investment process and strategic focus on sectors like AI and technology.

    Mr Daniel Silverman, Vice President of FDI in Quebec, addressed challenges facing FDI in the region, particularly in energy privatization, emphasizing the competitive dynamics with neighboring markets. Ms Ibtisam Al Farooji, Undersecretary of the Ministry of Commerce Industry and Investment Promotion in Oman, emphasized the Sultanate’s commitment to attracting investment, leveraging its strategic location and natural resources to emerge as a leading global destination.

    Mr Raymond Siva, Head of Digital Investment at Malaysia Digital Economy Corporation, emphasized the importance of digital talent and infrastructure in fostering investment safety and growth in Malaysia.

    During the ‘Fireside Chat’ on FDIs in UAE, Mr Massimo Falcioni, Chief Competitiveness Officer of Abu Dhabi Investment Office (ADIO), highlighted the UAE’s innovative approach to challenges, transforming them into opportunities to attract Foreign Direct Investments (FDIs).

    He underscored the UAE’s standing as a premier destination for foreign investors seeking a stable environment and a thriving economy, attributing this to the clear growth and diversification strategy set by the UAE’s president, coupled with efforts in trade agreements and infrastructure development. He emphasized the importance of infrastructure, local demand, and export opportunities, alongside geopolitical stability, as key factors in attracting FDIs.

    He also stressed the significance of talent, entrepreneurship, and education as a formula for success in the country.

    The session titled “Unlocking the Power of Sustainable Investment” delved into current trends to spur economic growth and attract investors. Speakers Ms Aziza Shaat, Economic and Trade Advisor at the Dutch Embassy in Egypt, and Dr. Pallavi Kishore, Head of Accounting and Finance at Middlesex University Dubai, highlighted that countries with robust economies are magnets for FDI inflows. Dr. Kishore noted that despite the FDI decline in 2020 due to the Covid-19 pandemic, emerging markets in the MENA region, particularly the UAE, Saudi Arabia, and Qatar, continue to attract investments.

    Ms Shaat identified challenges such as the lack of ease of doing business and bureaucratic hurdles. However, participants expressed optimism about the future of FDI in the Middle East and Africa.

    The session “Leveraging FDI for Climate Change Mitigation” addressed the importance of sustainable investments in developing countries. Speakers Ms Marianna Bulbuc, CEO of Bizzmosis Group; Mr Marwan Alichla, Head of Investment Promotion at Sharjah FDI office; Mr Paul Holthus, Founding President of World Ocean Council; and Mr Zakaria Farahat, Director of International Cooperation at the Ministry of Investment, Convergence, and Evaluation of Public Policy of Morocco, highlighted the role of FDI in supporting climate goals in developing countries.

    Alichla discussed Sharjah’s strategy aligned with the UAE’s national agenda, emphasizing sustainability and advanced manufacturing. He noted Sharjah’s strategic location and its success in attracting FDI, resulting in job creation. Bulbuc praised the UAE’s model of collaboration between the public and private sectors in attracting FDIs.

    Regional Focus Forum Track

    The session titled “Korean International Economic Policy towards the Middle East,” presented by the Korean Institute for International Policy (KIEP). Mr Munsu Kang, a Fellow Doctor at KIEP, outlined the institute’s core objective of contributing to effective international economic policies for South Korea. KIEP has been instrumental in shaping and executing South Korea’s international economic strategies.

    The discussion highlighted the significant impact of global trends such as escalating competition between the US and China, protectionism, digital transformation, and regional conflicts on shaping KIEP’s medium- and long-term trade policy directions. Amidst these trends, alliances among middle power countries in the Global South are gaining importance. The session also examined the composition of trade between Korea and the Middle East.

    Looking towards future cooperation, the session emphasized energy transition as essential for the post-oil era, with hydrogen, carbon capture and storage (CS), and liquefied natural gas (LNG) supply chains emerging as key areas in the energy sector.

    The Korea-GCC Free Trade Agreement aims to open the service market, fostering economic diversification. Cooperation in digital payments, artificial intelligence (AI), robotics, smart factories, entertainment, and gaming sectors was also proposed as areas of focus.

    Later, the session “Unlocking Asia’s Potential: Harmonizing Sustainability and Advancing Technology for Economic Development” featured an esteemed panel of speakers. Among these were Renuka Weerakone, Director General, Board of Investment of Sri Lanka; MsEvariste M. Cagatan, Executive Director, Advisor Embassy Investment Promotion, Philippine Board of Investments; Mr Wirat Tatsaringkansakul, Deputy Secretary General, Board of Investment Thailand; Mr V. Enkhbaatar, Director General Advisor, Embassy Investment and Trade Agency of Mongolia; and Mr Raymond Siva, Head of Digital Investment, Malaysia Digital Economy Corporation.

    Jonathan Wong, Chief of Innovation, Enterprise, and Investment in the Trade and Investment and Innovation Division at United Nations ESCAP, emphasized the criticality of addressing the SDG investment gap and highlighted Asia-Pacific’s attractiveness for investment due to its resilient economies and abundant opportunities.

    The panel discussed various topics including effective positioning of countries in Asia-Pacific as attractive destinations for sustainable development investments, compelling messaging for investors, challenges in attracting sustainable investments, fostering an enabling environment for sustainable FDI, and enhancing regional cooperation.

    Ms Weerakone discussed Sri Lanka’s commitment to renewable energy generation and its focus on infrastructure development and gender equality. Ms Cagatan outlined the Philippines’ aspirations to become a hub for sustainable manufacturing in Southeast Asia, emphasizing renewable energy and critical mineral processing. Mr Tatsaringkansakul emphasized collaboration between the public and private sectors in Thailand to transition to renewable energy.Mr Enkhbaatar highlighted Mongolia’s rich natural resources and investor-friendly regulations. Mr Raymond Siva showcased Malaysia’s transition to a digital economy and its focus on talent accessibility and sustainability.

    Another session titled “Empowering Europe’s Future: A Strategic Investment Drive for Growth and Competitiveness” unfolded under the European Regional Focus Forum. Ms Lucie Berger, Ambassador of the European Union to the UAE, emphasized the importance of leveraging crises to build resilience and competitiveness. Prof. Henrick Von Scheel and Leon Delvaux underscored the EU’s significant role as a global investment player and highlighted the immense opportunities for investment, with FDIs in the EU totaling $8 trillion.

    The panel aimed to harness skills, expertise, and resources within Europe to foster cross-border opportunities and address economic challenges for a sustainable future. The focus was on policy initiatives, resilience building, and global collaboration.

    Other paneslists included: Alexis Rostand, Managing Director, Eiffel Investment Group, who stressed her Group’s focus on sustainable investment strategies and global expansion. Mr Jean-Mari Frentz, Executive Director, Luxembourg Trade and Investment Office, highlighted Luxembourg’s attractiveness for FDI and its leadership in green finance. Dr. Joseph Gerada, Regulator, The Family Business Office – Malta, discussed Malta’s support for family businesses and succession planning. Mr Luca Lazzaroli, Director General, Portfolio Management and Monitoring, European Investment Bank, outlined the Bank’s role in financing climate projects across regions. Mr Johannes Brunner, Commercial Counsellor, Austrian Embassy to the UAE. Mr Marios Tannousis, CEO, Invest in Cyprus, discussed the significant EU-GCC trade relations, emphasized Cyprus’s focus on tech startups, R&D, and collaboration for economic development in the European market.

    Investment Destination Track

    During the Oman Investment Destination Forum, a session titled “Country and Company Presentation” provided valuable insights into investment opportunities in Oman. Moderated by Omar Al Harthi, Senior Business Development Executive at Invest Oman, the session featured presentations from Invest Oman and Asyad Group.

    Al Harthi highlighted Invest Oman’s pivotal role in Oman’s economic transformation across sectors like logistics, food security, tourism, mining, and manufacturing.

    The company is pioneering new sectors such as green cement production and boutique luxury tourism. Oman’s appealing laws and legislation, offering incentives like up to 100 percent foreign ownership and tax exemptions, make it an attractive destination for investors seeking sustainable ventures.

    Mr Yasin Al Busaidi, Business Development Director at Asyad Group, discussed the group’s focus on enhancing trading activities through streamlined import and export processes.

    The group aims to become the leading hub in the logistics sector, leveraging Oman’s robust infrastructure, including ports and roads. The presentation highlighted the Hafeeth Rail Project, a significant initiative connecting Oman’s Sohar Port with the UAE rail network, fostering regional integration and economic growth.

  • BRICS+ Business Forum at AIM Congress 2024: Key Players Discuss Reshaping Global Economic Landscape

    BRICS+ Business Forum at AIM Congress 2024: Key Players Discuss Reshaping Global Economic Landscape

    Abu Dhabi, 9th May, 2024: The BRICS+ Business Forum, a pivotal session of the 2024 AIM Congress, convened at ADNEC in Abu Dhabi, featuring prominent leaders and experts from the BRICS nations and beyond. Chaired by Aleksandra Burman, the session provided a platform to deliberate on crucial topics concerning global economic dynamics and trade relations among BRICS member states and their partners.

    The session commenced with Dawood Al Shezawi, President of the AIM Global Foundation, emphasizing the significance of AIM Congress in fostering international cooperation and formulating investment strategies. With the event witnessing a remarkable increase in participation, Al Shezawi highlighted the importance of stronger international relationships in attracting Foreign Direct Investment (FDI) and fostering economic growth.

    Roman Shaykhutdinov, Deputy Prime Minister of the Republic of Tatarstan, outlined the region’s sustainable growth strategy, focusing on diverse sectors including oil, agriculture, IT, and tourism. Shaykhutdinov emphasized Tatarstan’s status as a burgeoning hub for startups and underscored the importance of forums like AIM Congress in facilitating partnerships.

    Sergey Katyrin, Chairman of the BRICS Business Council, Russian Federation, emphasized the opportunities arising from increased trade and cooperation among BRICS countries. He noted the potential for healthy competition in attracting investments, ultimately benefiting all member states.

    Sean He, Founding Partner of Silicon Harbour Capital Investment Company, China, emphasized the pivotal role of technology in shaping the global economy. He highlighted China’s leadership in the technology sector and its interest in fostering collaborations with the MENA region.

    Mikhail Makarov, Director of the International Relations Office at the Agency for Strategic Initiatives, Russia, shed light on Russia’s endeavors to promote technological projects globally. Makarov extended an invitation to BRICS+ countries to participate in a foresight forum in Dubai in 2025, showcasing Russia’s commitment to fostering international cooperation.

    Russel Curtis, CEO of Invest Durban, South Africa, elaborated on Durban’s growing significance in the BRICS landscape, citing the city’s strategic port location and burgeoning FDI inflows. Curtis emphasized the importance of aligning policy frameworks to attract investments and achieve sustainable development goals.

    UG Sujatha, Vice President of Global Partnerships at Invest India, highlighted India’s remarkable economic growth and its vibrant startup ecosystem. She stressed the potential for BRICS countries to collaborate and create a dynamic ecosystem conducive to mutual growth.

    Dra Leteia Pricila Gomes, President of Invest Brazil Institute for investment and international cooperation, underscored Brazil’s commitment to improving investment laws and fostering innovation. She highlighted the need for educational and developmental initiatives to further enhance Brazil’s attractiveness to investors.

    The BRICS+ Business Forum at AIM Congress 2024 served as a platform for fruitful discussions, fostering collaboration and innovation to drive sustainable economic growth globally.

    AIM Congress 2024 is hosting more than 150 high-level dignitaries, with 900+ speakers and over 12,000 participants from 175 countries around the world participating. AIM Congress has also organized 27 joint events in cooperation with over 330+ local, international, and global partners.

  • 2024 AIM Congress in Abu Dhabi Highlights Innovation, Entrepreneurship, and Financial Technology

    Abu Dhabi, UAE, 8th May, 2024: The 2024 AIM Congress, world’s leading investment platform, commenced at the Abu Dhabi National Exhibition Centre (ADNEC) with a series of dynamic sessions under the Innovation and Technology Track, SMEs Track – Entrepreneurs Investment Summit, and Future Finance Forum Track. Over three days, from May 7th to May 9th, the AIM Congress brought together visionaries and experts to explore cutting-edge developments and foster collaboration in key sectors.

    Innovation and Technology Track

    The Innovation Track at the 2024 AIM Congress brought together industry leaders, innovators, and policymakers to explore the transformative potential of emerging technologies in driving economic growth and sustainability. The track featured engaging discussions on topics ranging from IoT and digitalization to AI systems and sustainable urban development.

    Moderated by Glen Gillmore, the sessions delved into the critical role of data-driven decision-making in shaping future industries. Speakers such as Catalina Valentino of ELIXR and Charles Austen Angell of Modern Edge Inc emphasized the importance of leveraging digital twins and AI integration to optimize operations and enhance productivity. They highlighted how advancements in AI and IoT are revolutionizing industries, making cities smarter, and creating safer and more sustainable environments.

    Martin Yates from Presight G42 underscored the importance of trustworthy data in AI applications, emphasizing the need for robust data management practices and regulatory frameworks to ensure ethical and responsible AI deployment. Steve Nouri of Generative AI emphasized the power of collaboration and knowledge-sharing in driving AI innovation, advocating for a collective approach to harnessing the potential of AI for societal benefit.

    The Innovation Track also explored the challenges and opportunities in adopting innovative technologies for sustainable development. Panelists discussed the need for holistic approaches to urban planning and development, integrating digital solutions with environmental sustainability goals. Lilly Lau, founder of DESMO, highlighted the importance of cybersecurity in IoT environments, stressing the need for robust security measures to protect data and ensure user privacy.

    Overall, the Innovation Track provided valuable insights into the transformative potential of emerging technologies in driving economic transformation and fostering sustainable development. As industries continue to embrace digitalization and AI, collaboration, responsible innovation, and ethical considerations will be key to realizing the full potential of technology in shaping a more inclusive and resilient future.

    “The best place is in digital twins. Building cities advances in AI. Making the environment safer is difficult due to the data; recognizing accurate data is crucial,” said Catalina Valentino, CEO of ELIXR.

    “AI is not a replacement of intelligence; AI is a supplement to the brains we have. We have to think of reinforcing growth. Thinking about everybody is important,” said Charles Austen Angell, CEO of Modern Edge Inc.

     

    SMEs Track – Entrepreneurship Investment Summit

    The SMEs Track at the 2024 AIM Congress convened entrepreneurs, policymakers, and industry experts to explore strategies for fostering entrepreneurship, promoting economic growth, and overcoming challenges in the SME sector. Under the guidance of moderator Reinhold Von Sternberg, the sessions provided valuable insights into various aspects of SME development, investment, and innovation.

    Panelists such as Christian Purstinger of Terraplasma Medical and Karima Catherine of BeBeeMatch shared their experiences and expertise, highlighting the importance of supply chain resilience, digitalization, and customer retention for SME success. They emphasized the need for collaboration, adaptability, and innovation in navigating disruptions and seizing opportunities in dynamic market environments.

    The discussions also addressed the role of government policies and international cooperation in supporting SMEs, particularly in emerging economies. Dr. Assia Ben Saad of AMDIE and Ibraev Danil of the Kyrgyz Union of Industry and Entrepreneurship emphasized the importance of fostering an enabling environment for SMEs through supportive regulatory frameworks, access to finance, and capacity-building initiatives.

    Furthermore, the sessions explored the potential of alternative lending platforms, such as peer-to-peer (P2P) lending, in addressing the financing needs of SMEs. Panelists discussed the advantages of P2P lending in providing faster access to capital, especially for micro SMEs, and the importance of risk management and regulatory oversight in ensuring the stability and integrity of these platforms.

    Overall, the SMEs Track provided a platform for stakeholders to exchange ideas, best practices, and innovative solutions for supporting SME growth and resilience. As SMEs continue to play a vital role in driving economic development and job creation globally, fostering an ecosystem that enables their success will be crucial for building more inclusive and sustainable economies.

    “SMEs are the backbone of the government. Delivery and e-commerce are using AI. They are having issues like delivery issues. Interactive-based technology. Excess management system is important,” said Thami Zondi, Economic and Development and Investment Expert, RSA

    “99 countries, 160 subsectors. How to bring more opportunity for SMEs is the main aim. 95 to 99% of the economy of the country they don’t have economy and have financial problems. Chatbots are extremely important in customer communications and retention, and so is Google,” said Karima Catherine, Founder CEO of BEBEEMATCH, Canada Advocate

    Future Finance Forum Track

    The Future Finance Forum Track at the 2024 AIM Congress brought together industry leaders, experts, and policymakers to explore the transformative role of technology in shaping the future of finance. Through engaging discussions and fireside chats, participants delved into key trends, challenges, and opportunities reshaping the financial landscape.

    One of the focal points of the track was cybersecurity, with renowned keynote speaker Edgar Perez leading a fireside chat on enhancing cybersecurity in financial systems. Perez emphasized the critical role of artificial intelligence (AI) in fraud detection and prevention, highlighting the power of AI technologies like ChatGPT in safeguarding financial institutions against cyber threats. The session also addressed the implications of deepfakes and the importance of responsible technology use in preserving privacy and security.

    Another highlight of the track was a fireside chat featuring Peter Tavaner, co-founder of Beehive, who provided insights into the comparative analysis of peer-to-peer (P2P) lending and traditional banking. Tavaner underscored the benefits of P2P lending, such as quicker access to funds and tailored financial solutions for SMEs, while also addressing common misconceptions about risk and security in P2P lending platforms.

    Additionally, sessions focused on the evolving role of AI and digital technologies in auditing and accounting. Speakers such as Prasanna, CEO of Blockstack, and Bernhard Schatz from PwC discussed the impact of AI on job security, efficiency, and data accuracy in the accounting profession. They emphasized the need for continuous training and adoption of technology to stay competitive in a rapidly evolving industry.

    Overall, the Future Finance Forum Track provided a comprehensive exploration of the intersection between finance and technology, highlighting the opportunities for innovation, collaboration, and adaptation in the digital age. As financial institutions navigate the complexities of an increasingly interconnected world, embracing technological advancements will be key to driving efficiency, security, and resilience in the financial sector.

    The 2024 AIM Congress continues to serve as a catalyst for innovation, entrepreneurship, and financial transformation. As discussions evolve and partnerships deepen, the Congress remains committed to driving sustainable growth and shaping the future of global industries.

     

  • AIM Congress 2024 Showcases Groundbreaking Sessions on Startup and Unicorn Tracks

    AIM Congress 2024 Showcases Groundbreaking Sessions on Startup and Unicorn Tracks

    Abu Dhabi, UAE, 8th May 2024: The 2024 AIM Congress witnessed an extraordinary lineup of sessions under the Startup and Unicorns Track, providing invaluable insights and fostering innovation in the entrepreneurial ecosystem. لإhe three-day event in ADNEC, Abu Dhabi, the event brought together visionary leaders, industry experts, and budding entrepreneurs to explore cutting-edge technologies, emerging trends, and strategies for sustainable growth.

    Under the Startup and Unicorn Track, the conference featured dynamic panel discussions and thought-provoking presentations aimed at charting the course for startups and unicorns in the rapidly evolving business landscape.

    Heading to the Future: 2024 the Bounce Back Year for Startups & Unicorns

    The Leaders’ Panel delved into the transformative potential of Industry 4.0, exploring emerging technology trends and their implications for startups. Experts discussed the role of AI in waste management, the significance of data-driven solutions, and the collaborative efforts driving innovation in the UAE.

    “UAE has been good at partnering with international companies to help nurture the local companies,” said Maher Al Kaabi, Advisor to Alserkal Group Chairman- Independent Board Member.

    Panel 2: The New Geographical Focus of Startups: Spreading Digital Innovation to Africa and Other Places

    The panel shed light on the burgeoning startup landscape in Africa, highlighting the untapped potential and investment opportunities across the continent. Speakers underscored the importance of cross-border collaborations, the rise of digital solutions, and the need for strategic investments to drive inclusive growth.

    “Africa is like China 20 years ago, you see where China is now, so Africa is moving there,” Nael Hailemariam, CEO/Cofounder – Chapa.

    Panel 3: Women Leading Startups: Finding Work-Life Balance

    Empowering women entrepreneurs, this panel celebrated the achievements of female leaders in the startup ecosystem. From navigating gender biases to fostering work-life balance, the discussions resonated with inspiring anecdotes and actionable insights, encouraging women to pursue their entrepreneurial dreams.

    “You can be a victim 10 times a day or you can be a hero 10 times a day,” said Basma Abdallah Uraiqat, Co-Founder and COO – Konn Technologies.

    Panel 4: Hiring the Right People and Finding Healthy Ecosystem

    Addressing the critical aspects of talent acquisition and ecosystem development, the panel emphasized the significance of diversity, inclusivity, and fostering a culture of innovation. Experts shared strategies for effective hiring, talent retention, and building collaborative ecosystems conducive to sustainable growth.

    The AIM Congress 2024 served as a catalyst for fostering collaboration, driving innovation, and shaping the future of entrepreneurship. As startups and unicorns continue to redefine industries and create transformative solutions, the AIM Congress remains at the forefront of championing their success.

    “Employees want to feel valued. You should not call your employees resources, they are assets,” said Hammad Khan, , Founder – LYFE/X.

  • 2024 AIM Congress: Uniting Industry Leaders in Abu Dhabi to Explore Investment in China, Health Security, and Sustainable Agriculture

    2024 AIM Congress: Uniting Industry Leaders in Abu Dhabi to Explore Investment in China, Health Security, and Sustainable Agriculture

    Abu Dhabi, UAE, 8th May, 2024: The 2024 AIM Congress, held at the Abu Dhabi National Exhibition Centre (ADNEC) from May 7th to May 9th, 2024, witnessed an unprecedented convergence of industry leaders, policymakers, and visionaries. The Congress saw captivating sessions under the Universal Track and the International Partners’ Track, fostering dialogue, collaboration, and innovative solutions to global challenges.

    Universal Track

    Under the theme “Investing in an Innovative Ecosystem: Navigating Growth Through Strategic Partnerships,” the Universal Track saw China Investment Forum take place which was marked by insightful discussions and keynote addresses.

    The session was skillfully moderated by Duan Yanling, Partner at Zhejiang University Science Park Development Co., Ltd. The esteemed panel included luminaries such as Dr. Khaled Hanafy, Secretary General of the Union of Arab Chambers, and Dr. Ibrahim Moustafa, Vice Chairman for SCZONE for Investment & Promotion, among others.

    Keynote speeches by H.E. Dr. Thani Bin Ahmed Al-Zeyoudi, UAE Minister of State for Foreign Trade, and Vice-Chairman of the Industry Development Council, and Ben Harburg, Managing Partner at MSA Capital & MSA Novo, set the stage for discussions on fostering economic growth and strengthening international partnerships.

    Insights from panelists like Shenwei Hua, Vice Chairman of the Shanghai Municipal Commission, emphasized the burgeoning trade relations between China and the UAE, while Dr. Khaled Hanafy underscored the strategic importance of alliances with China for the Arab world’s economic development.

    Shenwei Hua, Vice Chairman of the Shanghai Municipal Commission, highlighted the robust trade relations between China and the UAE, stating, “Shanghai emerges as a prime destination for investors seeking lucrative opportunities.”

    International Partners’ Track

    The Road to the 3rd World Local Production Forum 2025 by WHO

    AIM Congress delved into critical discussions on advancing global health security and promoting sustainable local production. Dr. Jicui Dong, representing the World Local Production Forum (WLPF) Secretariat at the World Health Organization, set the stage with a welcome note, emphasizing the importance of collaborative efforts in ensuring access to essential medicines and health products.

    Keynote speaker H.E. Mansoor Ibrahim Al Mansoori, Chairman of the Department of Health in Abu Dhabi, underscored the significance of equitable pathways and innovative strategies for a healthier future.

    Presentations by Prof. Abderrahmane Maaroufi from the Institut Pasteur du Maroc and Prof. Frederick Abbott from Florida State University highlighted the role of technology transfer and local production in bridging global health disparities.

    The panel discussion, moderated by Dr. Jicui Dong, featured eminent figures from Egypt, China, South Africa, Morocco, and the USA, who deliberated on the key highlights and priorities for the upcoming 3rd World Local Production Forum.

    In his closing address, Dr. Jicui Dong reiterated the commitment of the World Health Organization to fostering partnerships and promoting sustainable solutions for global health challenges.

    Climate Smart Agriculture (CSA): The Future of Sustainability in Food and Agriculture Sectors by KIEP

    The International Partners’ Track session, “Climate Smart Agriculture (CSA): The Future of Sustainability in Food and Agriculture Sectors,” delved into critical issues surrounding sustainable agriculture practices.

    Moderated by Jose Francisco Fernandez Serna, the session featured thought-provoking discussions by industry leaders including Averianov Aleksandr, Founder/CEO of Terroir Concept SPBU LLC, and Dr. Shamal Mohammed, Head of AgriTech at Silal.

    Highlights from the session included discussions on the importance of financial and institutional support for farmers transitioning to sustainable practices, opportunities and challenges in horticulture, and the role of technology in enhancing food security agendas.

    Dr. Shamal Mohammed, Head of AgriTech at Silal, emphasized, “Farmers need to see value in adopting new technologies for sustainable agriculture practices. Demonstrating long-term benefits is essential.”

    The 2024 AIM Congress continues to serve as a catalyst for fostering collaboration and driving sustainable growth on a global scale. As discussions evolve and partnerships deepen, the Congress remains committed to shaping a resilient and inclusive future for all.

  • Islamic Development Bank Institute (IsDBI) Publishes New Book on Applications of Agent-Based Simulation in Islamic Finance

    Islamic Development Bank Institute (IsDBI) Publishes New Book on Applications of Agent-Based Simulation in Islamic Finance

    JEDDAH, Saudi Arabia, May 2, 2024/ — The Islamic Development Bank Institute (IsDBI) (https://IsDBInstitute.org) has released a new book detailing applications of agent-based simulation in Islamic Finance.

    Titled “Applications of Agent-Based Simulation in Islamic Finance”, the book is an edited collection of papers authored by students who graduated from the Islamic Financial Engineering Laboratory based in Rabat, Morocco.

    The Laboratory was established in 2013 by Mohammed V University in Rabat and the Islamic Development Bank (IsDB). Former heads of the Laboratory, Prof. Rajae Aboulaich and Prof. Mohamed Tkiouat, edited the new book.

    The book explores the different aspects of Islamic finance and modeling, highlighting the importance of agent-based modeling and mathematical modeling in the context of Islamic finance. It also examines the growing role of fintech and its impact on financial inclusion within the Islamic framework.

    The objective of the book is to provide an in-depth perspective of the theoretical foundations and practical applications of agent-based and mathematical modeling in the field of Islamic finance.

    By exploring the different models and approaches, the authors highlight the advantages and limitations of these methodologies while emphasizing their relevance for decision-making and risk management in the Islamic context.

    Dr. Sami Al Suwailem, Acting Director General of IsDB Institute, said: “The book is a result of close collaboration between the professors and graduate students of the Lab and experts from the IsDBI.

    The support of the IsDB has helped IFE Lab students in the development of the modeling of complex problems and the structuring of innovative financial products using high-performance simulation approaches such as agent-based modeling, discussed in this book.”

    Prof. Rajae Aboulaich, one of the book editors, said: “This book is the fruit of research carried out over the past eight years within the IFE Lab at Mohammed V University in Rabat. It presents selected research carried out as part of the theses produced within the IFE Lab.

    The book documents also some of the success stories of the IFE Lab, and so, we hope it will serve as a reference for future generations to lead the development of Islamic finance to the next level”.

    The book is available for purchase on IsDB Institute’s website here (https://apo-opa.co/3ULvblu).

    Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

    Media contact:
    Habeeb Idris Pindiga
    Associate Manager, Knowledge Horizons
    Islamic Development Bank Institute (IsDBI)
    Email: hpindiga@isdb.org

  • Memorandum of Understanding Signed Between The Islamic Development Bank Group Business Forum (THIQAH) and World Association of Investment Promotion Agencies (WAIPA) to Boost Business and Investment Opportunities

    Memorandum of Understanding Signed Between The Islamic Development Bank Group Business Forum (THIQAH) and World Association of Investment Promotion Agencies (WAIPA) to Boost Business and Investment Opportunities

    RIYADH, Saudi Arabia, May 1, 2024/ — The Islamic Development Bank Group Business Forum (THIQAH) (www.IDBGBF.org) and the World Association of Investment Promotion Agencies (WAIPA) have recently signed a Memorandum of Understanding (MoU) aimed at fostering collaboration to promote business and investment opportunities on a global scale.

    The signing ceremony, held in Jeddah, Saudi Arabia, signifies a strategic alliance between THIQAH and WAIPA, two prominent entities dedicated to facilitating economic growth and investment promotion.

    Under the MoU, THIQAH and WAIPA commit to cooperating through various initiatives such as promoting investment opportunities, organizing international business-related events, and facilitating access to information and resources for potential investors. The agreement underscores the shared vision of both organizations to enhance economic development and create mutually beneficial partnerships.

    Distributed by APO Group on behalf of Islamic Development Bank Group Business Forum (THIQAH).

    Contact Us: 

    Email: THIQAH@isdb.org
  • 18th Islamic Development Bank (IsDB) Global Forum to Explore Innovation, Entrepreneurship, and Leadership in Islamic Finance

    18th Islamic Development Bank (IsDB) Global Forum to Explore Innovation, Entrepreneurship, and Leadership in Islamic Finance

    JEDDAH, Saudi Arabia, April 21, 2024/ — The Islamic Development Bank (IsDB) Institute (https://IsDBInstitute.org/) is pleased to announce the 18th edition of the IsDB Global Forum on Islamic Finance to be held in Riyadh, Kingdom of Saudi Arabia, on 28 April 2024, in conjunction with the IsDB Group Annual Meetings and Golden Jubilee Celebration.

    Organized annually as a flagship side event of the Annual Meetings, this year’s Forum will bring together thought leaders, policymakers, financial experts, and other stakeholders in the Islamic finance industry to deliberate on innovative tools to foster sustainable development.

    Under the theme “Innovation, Entrepreneurship, and Leadership in Islamic Finance”, the forum will have keynote speeches by H.E. Dr. Muhammad Al Jasser, Chairman of the IsDB Group; H.E. Dr. Stephen Groff, Governor of the Saudi National Development Fund; and Engineer Mutlaq H. Al-Morished, CEO, Tasnee Corporation.

    The forum will witness the award presentation to the winner of the 2024 IsDB Prize for Impactful Achievement in Islamic Economics. Professor Mehmet Asutay, a professor of Middle Eastern and Islamic Political Economy & Finance at Durham University, won the prize in recognition of his significant and influential contributions to the field of Islamic economics and finance.

    Subsequently, the Forum will have two sessions. The first is a panel that aims to explore the pivotal role of entrepreneurship in advancing sustainable development, particularly within the Islamic finance paradigm.

    Panelists for the session are Mr. Mohammad Abdulhameed Al-Mubarak, CEO of Madinah Knowledge Economic City; Dr. Zeger Degraeve, Executive Dean of Prince Mohammed Bin Salman College (MBSC); Mr. Morrad Irsane, CEO and Founder of TAKADAO; and Dr. Sami Al-Suwailem, Acting Director General of the IsDB Institute.

    The second session will showcase the Smart Stabilization System, a patent-pending algorithm to enhance stability in financial markets, being developed by the IsDB Institute and implemented by the blockchain company SettleMint. The discussants will be Mr. Matthew Van Niekerk, Founder & CEO of SettleMint, and Dr. Hilal Houssain, Associate Manager of Knowledge Solutions Team, IsDBI.

    The Forum will also feature the launching of a new IsDBI report titled “Catalyzing Social Entrepreneurship through Islamic Finance”, which explores the potential of Islamic finance to support social entrepreneurship and impact investing.

    The IsDB Global Forum on Islamic Finance is an annual high-level forum initiated in 2006 as a platform for strategic policy dialogue on knowledge and innovation in Islamic finance and development.

    Distributed by APO Group on behalf of Islamic Development Bank Institute (IsDBI).

    Media contact:
    Habeeb Idris Pindiga
    Associate Manager, Knowledge Horizons
    hpindiga@isdb.org

    For more information, visit the 2024 IsDB Group Annual Meetings website (https://IsDM-AM.org/) or IsDBI media platforms: