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Tag: SUSTAINABLE DEVELOPMENT

  • Annual Investment Meeting Signs MoU with Gold Standard to promote dialogue for sustainable development

    Abu Dhabi, United Arab Emirates, 11 May 2023: The Annual Investment Meeting (AIM), one of the world’s largest investment platforms, and Gold Standard, a climate and development organization, have signed a Memorandum of Understanding to promote dialogue for sustainable development at the 12th edition of the conference, which ended its three-day run yesterday, May 10, in Abu Dhabi.

    The partnership with Gold Standard will further AIM’s commitment to sustainable development by having Gold Standard retire carbon credits to offset the emissions generated by the event’s venue, with a maximum limit of $30,000.

    “At Gold Standard we are proud to help this year’s Annual Investment Meeting and to take responsibility for the unavoidable emissions associated with the event by retiring carbon credits on its behalf. At Gold Standard we are taking the lessons we’ve learned from our 20 years in the carbon market, and building financial tools to accelerate investment in sustainable development and carbon emission reduction projects. Events like the AIM Congress are important moments for investors from around the world to get together and look for new opportunities to make an impact,“ said Margaret Kim, Chief Executive Officer of Gold Standard.

    “We are pleased to announce this partnership with Gold Standard, as we believe that closer cooperation and collaboration will further the achievement of our mutual interests and objectives. This MoU will facilitate the promotion of sustainable development and help us create innovative new programs and tools that can be integrated to deliver impacts at a greater scale,” said Walid A. Farghal, Director General of Annual Investment Meeting.

    Gold Standard was established in 2003 by WWF and other international NGOs to ensure projects that reduced carbon emissions featured the highest levels of environmental integrity and also contributed to sustainable development.

    With the adoption of the Paris Climate Agreement and the Sustainable Development Goals, the NGO has launched a best practice standard for climate and sustainable development interventions, Gold Standard for the Global Goals, to maximise impact, creating value for people around the world and the planet we share.

    As part of the agreement, Gold Standard will retire credits froma project that supports the provision of safe water to hundreds of households within the Central Province of Zambia. By providing safe water, the project will ensure that households consume less firewood during the process of water

    purification and as a result there shall be a reduction of carbon dioxide emissions from the combustion process.

     

  • 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.

     

     

  • Climate change: Africa has a major new carbon market initiative – what you need to know

    Author: Jonathan Colmer

     Assistant Professor of Economics, University of Virginia

    Published: January 23, 2023 4.55pm SAST

    Climate finance for the African continent got a boost at the 2022 United Nations Climate Conference (COP27), with the launch of the African Carbon Markets Initiative. This aims to make climate finance available for African countries, expand access to clean energy, and drive sustainable economic development.

    Led by a 13-member steering committee of African leaders, chief executives and industry specialists, the initiative promises to expand the continent’s participation in voluntary carbon markets.

    Carbon markets are trading platforms which allow individuals, firms and governments to fund projects that reduce emissions (instead of reducing their own emissions).

    Kenya, Malawi, Gabon, Nigeria and Togo have already indicated their intention to collaborate with the market.

    Our mission is to share knowledge and inform decisions.

    About us

    Climate projects include reforestation and forest conservation, investments in renewable energy, carbon-storing agricultural practices and direct air capture. In return for funding projects like these, investors receive carbon credits – certificates used to “offset” the emissions that they continue to produce.

    The African initiative’s goal is to produce 300 million new carbon credits annually by 2030, comparable to the number of credits issued globally in voluntary carbon offset markets in 2021.

    However, there is considerable scepticism about whether carbon offset credits do mitigate climate change.

    Two important issues

    In assessing the effectiveness of carbon credits, one important concern is the concept of “additionality”. Emission reductions or removals are “additional” if the project or activity would not have happened without the added incentive provided by the carbon credits. For example, if a landowner is paid to not cut down trees, but had no plans to cut them down in the first place, the project does not deliver additional emissions savings. The landowner is paid for doing nothing and the buyer’s emissions are not offset.

    Providing carbon credits to projects that would have been implemented anyway delivers zero climate mitigation, and can result global emissions that are higher than if the credits hadn’t been issued. This is a serious challenge for carbon offset markets because additionality is not measurable, despite industry claims. While project managers may claim that they are unable to proceed without funding, there is no way of knowing whether these claims are true.

    A second issue is permanence. Carbon offsets have to be permanent because carbon emissions remain in the atmosphere for hundreds of years. It is almost impossible to guarantee that emissions will be offset for this length of time. But it depends on the type of offset project.

    There are two types of carbon offset project:

    • those that reduce the amount of carbon that is emitted
    • those that remove carbon from the atmosphere.

    In the case of carbon reduction projects, overall emissions remain positive. Examples of carbon reduction credits include investments in renewable energy. Even though the supplier of the carbon credit is not generating any emissions, the buyer continues to emit, and so the overall level of emissions is positive. Carbon neutrality – net-zero emissions – cannot be achieved using carbon reduction credits.

    There should be more funding available for carbon reduction activities in Africa, but investors should not receive carbon credits to offset their own emissions when supporting these activities. Such investments would be philanthropic – for the good of the planet, not to balance the carbon accounting books.

    Carbon removal projects do, however, have the potential to deliver a permanent net-zero emissions outcome. Direct air capture projects, which use chemical reactions to extract carbon dioxide from the atmosphere and store them deep underground, can meet this goal. The cost of direct air capture, however, remains very high.

    Forest growth, a less costly type of carbon removal project, is less permanent. Landowners may commit not to cut down trees, but wildfires, disease, and other disruption events can release much of the stored carbon back into the atmosphere. There is still value to forest carbon credits, but they can’t guarantee permanence. Forest projects provide “carbon deferrals”. Additional forest growth projects remove carbon from the atmosphere for a fixed amount of time. There is value to this delay because it can reduce peak warming and gives society more time for the costs of decarbonising technologies to fall. While there is value to these carbon deferral projects they should not be used to generate carbon credits that are used to permanently offset the emissions produced through economic activity.

    Goals of the market

    The African Carbon Markets Initiative has bold ambitions. It will attract investments in Africa by firms, consumers and governments in countries that have historically contributed the most to climate change. Whether these investments result in any meaningful climate benefit, however, is unclear. Time will tell.

    Existing carbon offset projects lack credibility. This doesn’t mean that carbon credits can’t be more useful in future. Being transparent about what projects actually deliver, rather than what we hope they deliver, is paramount. Given the limited resources available to mitigate climate change, we need more than good intentions.

    Source:(The Conversation)

     

  • Graduate Mentorship Coaching Programme,4th Cohort Gets Set

    Graduate Mentorship Coaching Programme,4th Cohort Gets Set

    …….As 40 Africans from 15 African Countries Enrolled!!!

    Story: Mohammed Abu

    The Africa Graduate Mentorship and Coaching Programme (AGMCP), which is facilitated by the Interconnections for Making Africa Great Empowered and Sustainable (IMAGES) Initiative, has enrolled 40 Africans from 15 countries into the mentorship and coaching programme for the 4th cohort, according to a Press Release issued in Ibadan, on Tuesday.

    “Interested organizations working on agriculture and food systems in Africa may contact us for mutually-rewarding partnership to develop the capacity of the mentees”, said, Dr Olawale Olayide the President of IMAGES while also adding, “Please join us to congratulate the mentees, and wish them a successful Fellowship Year”.

    The mentees, the Release said, are in three categories namely, Master, Doctoral and Post-doctoral, representing the five economic regions and countries of the continent.

    For the North Africa region, the release added, the beneficiary country is, Algeria, for Central Africa region, Cameroon and Democratic Republic of Congo, for Western Africa region, Benin, Ghana, Niger and Nigeria and while for Southern Africa region, Malawi, South Africa and Zimbabwe were the beneficiary countries.

    The AGMCP Fellowship Year runs from January to December. The 40 mentees will be assigned to renowned mentors, and will conduct research and capacity development training on the Sustainable African Food Systems.

  • African Development Bank Group President appoints Senegal’s former Minister Amadou Hott as Special Envoy for the Alliance for Green Infrastructure in Africa

    African Development Bank Group President appoints Senegal’s former Minister Amadou Hott as Special Envoy for the Alliance for Green Infrastructure in Africa

    The Alliance will mobilize up to $500 million needed for a robust pipeline of bankable, greener projects
    ABIDJAN, Ivory Coast, December 13, 2022/ — African Development Bank Group (http://www.AfDB.org) President Dr. Akinwumi Adesina has appointed Senegal’s former minister Amadou Hott, as his Special Envoy and global champion for the Alliance for Green Infrastructure in Africa (AGIA).

    The African Development Bank, Africa Union and Africa50 launched the Alliance during COP27 last November with global partners: the African Union Development Agency, the African Sovereign Investors Forum, the European Investment Bank, the European Bank for Reconstruction and Development, the French Development Agency, the Rockefeller Foundation, the US Trade and Development Agency, the Global Center on Adaptation and the Private Infrastructure Development Group.

    The Alliance will accelerate Africa’s transition to Net Zero by mobilizing, at scale and speed, investments needed to bridge the infrastructure gap for the continent’s low-carbon and climate-resilient development.

    The Alliance will mobilize up to $500 million needed for a robust pipeline of bankable, greener projects. This is projected to generate up to $10 billion in investment opportunities from a combination of co-investments, co-financing, risk mitigation and blended finance.

    Mr. Hott brings a wealth of experience in resource mobilization, public-private-partnerships, sustainable energy and infrastructure finance, and investment banking. He has strong relationships with African policymakers, development partners, strategic and institutional investors to mobilize significant capital for green infrastructure project development and financing in Africa.

    Mr. Hott was until last September, Senegal’s minister for Economy, Planning and Cooperation. During his tenure, the country implemented landmark economic reforms, including the Economic and Social Resilience Plan and the reform of public-private partnerships.

    Before joining government, Mr. Hott was African Development Bank Group’s Vice President for Power, Energy, Green Growth and Climate Change. During his tenure, the Bank Group significantly increased investments in renewable energy. In 2017, he helped the Bank Group allocate 100% of its power generation investments in renewable energies. Prior to joining the Bank Group, Mr. Hott served in structured finance, sovereign wealth fund management, and the development of integrated energy solutions in various major markets including New York, London, Dubai, and Lagos.

    Amadou Hott holds an Associate degree in Applied Mathematics from Louis Pasteur University in Strasbourg, France, a bachelor’s degree in Economics, and a master’s degree in Financial Markets and Banking Management from Sorbonne University, Paris. In 2012, the World Economic Forum nominated him as a Young Global Leader.

    Commenting on his appointment, Mr. Hott said: “I am honored to champion this great initiative under President Adesina’s visionary and impactful leadership. The Alliance will support Africa’s transition to Net Zero emissions. We need to frontload investments in infrastructure for Africa to meet the Sustainable Development Goals by 2030 and to develop the continent. I look forward to working with all regional and global stakeholders and partners to succeed in this new challenge.”

    Dr. Adesina said: “I am delighted to have former Minister Amadou Hott as my Special Envoy to globally champion the Alliance and help mobilize significant resources and stakeholders for more green investments in Africa. He has a strong track record of mobilizing resources and multi-stakeholder engagement for key initiatives, particularly in green infrastructure.”

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Contact:
    Chawki Chahed
    Communication and External Relations Department
    media@afdb.org

     

     

     

     

  • Unveiling SEZs role in Africa’s Industrialization

    Unveiling SEZs role in Africa’s Industrialization

    USD2.6 billion Invested,60 million Jobs Created

    …. As AU-AEZO Symposium ends in Abuja

    Story: Mohammed Abu

    The 5th African Union Commission(AUC)Symposium on Special Economic Zones(SEZs) and the 7th Annual Meeting of Africa Economic Zones Organization(AEZO) ended recently in the Nigerian capital of Abuja with an expression of interest by President Bukhari to collaborate with SEZs in Africa to benefit from the AfCfTA.

    The Nigerian President also commended the AFZO for bringing Free Zone Operators in Africa together through the event which was held under the theme, “African Special Economic Zones: Engine for Resilience and Acceleration for Sustainable Industrial Development”

    In his opening statement, secretary general of AEZO Ahmed Bennis, hailed the development of SEZs on the continent as drivers of economic development.

    “Over the past five years, 60 million jobs have been created in agro-processing, industrial fields, and services and more than $2.6 billion has been invested in the development of SEZ projects in the continent,” he said.

    In a recorded statement for the event, the president of the African Development Bank Group, Dr. Akinwumi Adesina, argued SEZ can help change that. “The role of SEZs is to accelerate sustainable industrial value chain development,” he said.

  • Greening the Desert through Organic Farming

    Greening the Desert through Organic Farming

    Upholding the legacy of UAE’s Founder,

    Emirates Bio Farm Leads the Charge

    By: Mohammed Abu

    The good memoirs of late UAE’s Founder, H.R.H. Sheikh Zayed Al Nahayan, shall forever be cherished. Aside the historic Economic Diversification Plan that also ensured escapade from the resource curse, his passion and initiative for greening the country’s desert, protection and conservation of biodiversity in its ecosystem also deserves spectacular mention.

    To this end, the establishment of the Emirates Bio Farm(EBF), the largest organic farm in the UAE in 2016, built on the company’s founding principles of advocating for environmental protection, health and well-being of all UAE residents, was indeed one of the most glowing tributes ever paid to the Founder of the nation.

    “A guiding principle which embrace from the teachings of Sheikh Zayed Al Nahyan, the founding father of the UAE and an early champion of environmental protection” EBF eulogizes him.

    The mission of EBF is contributing to the establishment of a secure and sustainable food system that promotes healthy living and the protection of the environment while providing genuine, certified organic food to the market.

    EBF is relentlessly working towards protecting biodiversity and the environment through its organic farming practices, building and preserving arable soil which successfully produces over 60 varieties of products in the middle of the desert in Al Shuwaib, Al Ain.

    EBF uses sustainable methods such as crop rotation, companion planting and the use of natural pest repellents allows the company to grow chemical-free crops that offer a high-quality alternative to imported produce giving consumers a local and sustainable option that is healthier and better for the environment. All our organic products are handpicked where the items are getting from harvest to the market within 24 hours, in order to maintain product freshness and optimum nutrition level.

    A big part of the Emirates Bio Farm mission is not only to produce high quality organic local products of many varieties but to also educate the UAE population on how their food choices impact the environment. It has also chosen agri-tourism as our method of communicating our mission and educating people about the realities of food and the impact of our choices on the environment around us.

    EBF operate to increase overall output as an integrated farm; making organic food affordable and available to the local market driving it as a sustainable investment in the country’s future in order to reduce reliance on imported products.

    Granted the prime importance of the seeds in the primary production value chain, EBF is also growing a seed library where seeds are collected to be re-used; as that increases the seed independence of the company and others in the region.

    The EBF: Agro-tourist Destination of Choice

    For foreign UAE bound tourists, conference and other events attendees as well as UAE resident holiday makers who love nature, a weekend retreat to Emirates Bio Farm, Al-Shuwaib, Al Ain, guarantees an unforgettable real life experience.

    The welcoming ambiance of the serene desert environment and the organic farm ecosystem that also treats one to rich organic dishes served at the canteen produced from farm fresh vegetables, is worth experiencing.

     

  • The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity and Prosperity

    The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity and Prosperity

    The Annual Investment meeting signed memorandums of understanding with organisations and companies in Indonesia on the sidelines of the B20 Summit, which was held on November 13-14, 2022, in Bali, Indonesia.

    It should be noted that the Business 20 (B20) is a platform emerging from the G20, which is concerned with communicating with the global business community. The Business 20 (B20) was established in 2010 to develop the necessary policy recommendations on previously identified topics and submit them to the G20 Presidency during the Summit.

    Mr Dawood Al Shezawi, Chairman of the Organizing Committee of the Annual Investment Meeting, signed a memorandum of understanding with the Indonesian Chamber of Commerce and Industry KADIN, represented by the Chairman, M. Arasjad Rasjid P.M.,  to bring in business owners and investors and help organise joint programs between the UAE and Indonesia, including the Annual Investment Meeting – the Asian version – in Indonesia in November 2023.

    A Memorandum of Understanding on Attracting Talent, Innovative Entrepreneurs, and Final Year Students (Future Soft Power) to Participate in the Activities of the Annual Investment Meeting, as well as Contributing to the Preparation of Coordination, was also signed by Mr Walid A. Farghal, Director General of the Annual Investment Meeting, and the Association of Indonesian Private Universities, represented by National Vice Chairman of International Relations, George Iwan Marantika.

    The director general of the Annual Investment Meeting, Mr Walid A. Farghal, also signed a third memorandum of understanding with the ASEAN-Business Advisory Council regarding luring the top startups from the startup qualifiers to the ASEAN Advisory Council summit conference and luring investment portfolios from ASEAN to the Annual Investment Meeting.

    The fourth Memorandum of Understanding was also signed by Mr Walid A. Farghal, Director General of the Annual Investment Meeting, and the Chairman of the Global Indonesia Professionals’ Association (GIPA), Mr Steven Marcelino (Businessmen Outside Indonesia), in an attempt to attract them to the Annual Investment Forum. Chairman of the Board of Directors Stephen Marcelino signed the contract on behalf of the Indonesian organisation.

    The fourth Memorandum of Understanding was also signed by the Director General of the Annual Investment Meeting, Mr Walid A. Farghal, and the Chairman of the Global Indonesia Professionals’ Association (GIPA), Mr Steven Marcelino, to encourage them to attend the Annual Investment Meeting (Businessmen Outside Indonesia).

    Describing the signing of the five memorandums of understanding, Mr Dawood Al Shezawi, Chairman of the Organizing Committee of the Annual Investment Meeting, stated that the MOUs come in the context of the ongoing efforts made by the Annual Investment Meeting to implement that strategic plan into real-world results that will encourage direct and indirect investment and drive sustainable development.