Nightlife

Tag: UAE

  • 15th IRENA Assembly to Set Energy Transition Narrative for 2025

    15th IRENA Assembly to Set Energy Transition Narrative for 2025

    Abu Dhabi, United Arab Emirates, 12 January 2025 – The 15th Session of the International Renewable Energy Agency (IRENA) Assembly convenes today, January 12, 2025, in Abu Dhabi, marking the first international energy meeting of the year. Under the theme ‘Accelerating the Renewable Energy Transition – The Way Forward,’ the two-day meetings will bring together ministers and high-level delegates from IRENA’s 170 Member States, academia, development banks, CEOs and youth to enhance wider, cross-sectoral collaboration on the energy transition.

    Key discussions will focus on tripling renewable energy capacity by 2030, enhancing ambition in Nationally Determined Contributions (NDC 3.0), supporting transitions in emerging economies, and leveraging innovative financial flows in developing countries.

    “The world is undergoing rapid transformation, driven by a shifting geopolitical landscape and technological breakthroughs such as artificial intelligence,” said IRENA Director-General Francesco La Camera. “Amid these changes, renewables must remain a top global priority as the most effective way to keep climate and sustainable development goals within reach. The 15th IRENA Assembly provides a critical platform to navigate the energy transition, explore emerging opportunities, and identify actionable priorities for 2025 and beyond.”

    “No country, regardless of its size, can achieve this transition alone. The energy transition is a shared responsibility, requiring unity and collective action,” said H.E. Bojan Kumer, Slovenia’s Minister of the Environment, Climate and Energy. “Slovenia firmly believes in the potential for collaboration, as we all face common challenges in achieving a just, inclusive, and competitive energy future and enhancing climate ambition. As the 15th IRENA Assembly President, Slovenia is committed to fostering dialogue and partnerships that unlock the vast potential of renewables, ensuring they remain at the heart of decarbonization efforts worldwide.”

    “For 15 years, the UAE has proudly hosted IRENA, providing a global platform for the critical dialogues and collaborations needed to drive the energy transition forward at pace and scale,” said H.E. Dr. Amna Al Dahak, Minister of Climate Change and Environment of the UAE. “As a nation at the forefront of driving this transition, we are committed to leading by example, by investing in renewable energy innovations, advancing smarter grid technologies, and championing solutions to address and overcome the unfolding climate crisis. The 15th IRENA General Assembly is an opportunity to demonstrate the power of international cooperation in shaping a sustainable and resilient future, with the UAE remaining a steadfast partner and catalyst for global energy security and sustainability.”

    Given the urgent need for political momentum and international cooperation, several Ministerial and High-level were held yesterday, on Pre-Assembly Day, January 11, 2025, to facilitate interaction among decision-makers and inform the future work of the Agency.

    The 15th IRENA Assembly also kick-starts the 2025 edition of Abu Dhabi Sustainability Week (ADSW), taking place from January 12–18 in Abu Dhabi, where heads of state, ministers, high-level delegates, and experts will meet to accelerate the world’s sustainability efforts.

    SOURCE

    IRENA

  • Celebrating Black Innovation: the Global Black Impact Summit (GBIS) 2023 to Connect the Global Healthcare Community

    Celebrating Black Innovation: the Global Black Impact Summit (GBIS) 2023 to Connect the Global Healthcare Community

    DUBAI, United Arab Emirates, October 25, 2023/ — The healthcare sector has long stood as a vessel for innovation, driven by relentless efforts to prevent disease, promote health education and wellness while advancing global health security and resilience.
    This industry has been at the forefront of modernization, and in the field, Black entrepreneurs have emerged as trailblazers, bringing innovative solutions to tackling health crises, strengthening systems, and equipping people and communities with the tools they need to thrive.

    The global COVID-19 crisis in 2020 was a testament to the critical role the healthcare system and associated innovation and collaboration play. The crisis represented one of the biggest health-related disasters in the world since the rise of modern medicine, leading to a dramatic loss of human life and presenting challenges to public health, food systems, and the world of work, according to the World Health Organization (WHO).

    In this time of unprecedented crisis, the strength of innovation came to the fore, as well as of collaboration and connection. WHO emphasizes that during times such as the pandemic, the world must remain committed to pooling our expertise and experience.
    As such, the Global Black Impact Summit (GBIS) – taking place in Dubai from November 30 to December 1 – is centered around connecting the global Black healthcare community, celebrating the innovators and entrepreneurs who are shaping the industry today.

    Black healthcare innovators have long played an instrumental part in strengthening healthcare systems, unlocking new levels of research and development while contributing significantly to modern medicine and treatment. Across the industry, the Black community’s inventive approaches continue to not only identify but also bridge critical healthcare gaps, fostering inclusivity while transforming challenges into opportunities.

    This underscores the community’s dedication to equitable and increasingly modernized healthcare solutions. From technology-driven telehealth to affordable treatments and education platforms, these entrepreneurs showcase adaptability, creativity, and a profound commitment to improving lives.

    Taking a look at some of the Black healthcare innovators who have made ground breaking discoveries, developed creative tools and solutions while inspiring new levels of research and education, it is clear that the global Black healthcare community has and will continue to be at the forefront of driving transformational change. Dr. Hadiyah-Nicole Green, for example, is a physicist and cancer researcher whose ground breaking approach to employing laser-activated nanoparticles to target and eliminate cancer cells has changed treatment strategies worldwide.

    In 2016, Green founded the Ora Lee Smith Cancer Research Foundation, aiming to improve cancer treatment effectiveness with fewer side effects and make it accessible and affordable for all. On the cardio-side, Daniel Hale Williams made history when, in 1893, he performed the world’s first successful heart operation, suturing a damaged artery while the heart still beat, revolutionizing surgery without modern tools. Dr. Patricia Bath, an ophthalmologist and inventor, developed the Laserphaco Probe for cataract treatment, an invention which has helped restore vision to millions worldwide.

    Additionally, Dr. Cato Laurencin is a surgeon-scientist known for his pioneering work in regenerative engineering. He has made significant contributions to tissue engineering and regenerative medicine, aiming to create solutions for tissue repair and regeneration. Dr. Kizzmekia Corbett is a viral immunologist who played a key role in the development of the Moderna COVID-19 vaccine. Her research focuses on developing vaccines for emerging infectious diseases. These individuals are just a few of the many inspiring and instrumental healthcare stakeholders who have changed the way we look at and approach medicine.

    Going forward, Black innovation is poised to inspire a new era of technology-driven health solutions. GBIS 2023, as a platform featuring innovators and thought-leaders from across the entire global economy, connects both the Black healthcare community while fostering engagement and integration between the healthcare industry and various other facets of the global economy. Specifically, by facilitating networking between healthcare and technology stakeholders, GBIS 2023 aims to foster new opportunities for integrated healthcare solutions.

    The tech industry itself has played a crucial role in modernizing both health systems and medicines. Examples include the fusion of health technology and artificial intelligence which has paved the way for personalized medicine, predictive analytics, and remote patient monitoring. These trends offer opportunities for inventive solutions customized to individual needs. As the world transitions into a tech-based future, GBIS 2023 plays an instrumental part in fostering the innovations of tomorrow.

    Don’t miss this chance to be a part of a global community that supports and unites Black innovators and entrepreneurs in healthcare at GBIS 2023. There is still time to secure your participation and network with some of the best in healthcare, technology, and more. To secure your participation, register now at https://GlobalBlackImpact.com/.

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

    SOURCE
    Energy Capital & Power

  • UAE announces $4.5bn initiative to support deployment of clean energy in Africa

    UAE announces $4.5bn initiative to support deployment of clean energy in Africa

    COP28 President-Designate Dr Sultan Al Jaber has announced a UAE finance initiative that will provide $4.5bn to help tap Africa’s clean energy potential.

    The announcement was made during his keynote address at the inaugural African Climate Summit in Nairobi, Kenya.

    The landmark initiative brings together vital public, private, and development capital from UAE institutions, ranging from Abu Dhabi Fund for Development (ADFD) and Etihad Credit Insurance (ECI) to Masdar and AMEA Power.

    Africa50, which is an investment platform established by African governments and the Africa Development Bank, has also joined the UAE finance initiative.

    Africa50 was founded to help solve the continent’s critical infrastructure challenges and will help identify initial projects and connect to local implementing entities.

    Call to climate action

    The COP28 President Designate has repeatedly called for the global tripling of renewable energy by 2030 and has pushed to make finance more available, accessible and affordable.

    The announcement came with a clear call to action for African leaders to improve policy and regulatory frameworks to attract the long-term investments necessary to accelerate the deployment of clean and renewable energy.

    In order to reduce barriers to investment, the President-Designate highlighted multiple action points that require the coordinated efforts of African leaders and the international community.

    These include restoring the financial sustainability of local utilities and modernising basic energy infrastructures, clarifying development processes and eliminating the red-tape delaying market lead-time, in addition to eliminating restrictions to capital flows and accessing adequate and affordable risk mitigation measures.

    During his address, the COP President Designate said: “This initiative builds on the UAE’s track record of commercially driven, innovative blended finance solutions that can be deployed to promote the adoption of clean energy in emerging and developing nations. This multi-stakeholder partnership approach is designed to accelerate sustainable economic progress, address the challenge of climate change and stimulate low carbon growth.”

    He added: “The initiative will prioritise investments in countries across Africa with clear transition strategies, enhanced regulatory frameworks and a master plan for developing grid infrastructure that integrates supply and demand. In short, this initiative is designed to work with Africa, for Africa. It aims to clearly demonstrate the commercial case for clean investment across this continent. And it will act as a scalable model that can be replicated to help put Africa on a superhighway to low carbon growth.”

    Action agenda

    Fast-tracking the energy transition, fixing climate finance, focusing on people, lives and livelihoods, and underscoring these efforts with full inclusivity are the key pillars of the COP28 Presidency’s ‘Action Agenda’.

    In sub-Saharan Africa alone, 600 million people live without access to electricity. Delivering greater access to clean energy will drive social and economic development but currently investment in African renewables represents only 2 per cent of the global total, and less than a quarter of the $60bn a year the continent needs by 2030.

    The initiative aims to right this imbalance by bringing together key stakeholders to fast track the development and delivery of infrastructure, generation and distribution solutions.

    UAE finance initiative to be part of Etihad 7

    The initiative will be part of Etihad 7, a development platform launched by the UAE at Abu Dhabi Sustainability Week in 2022, and championed by the Ministry of Foreign Affairs (MoFA).

    Etihad 7 aims to provide 100 million people across the African continent with clean electricity by 2035.

    ADFD is supporting with $1bn of financial assistance to address basic infrastructure needs, offer finance solutions and increase mobilisation of private investments. The ECI is providing $500m of credit insurance to de-risk and unlock private capital.

    Masdar, active in 22 countries in Africa, is committing an additional $2bn of equity as part of the new initiative. Masdar will mobilise an additional $8bn in project finance and through its Infinity Power platform.

    Masdar will target the delivery of 10 gigawatts (GW) of clean energy capacity in Africa by 2030.

    AMEA Power is targeting 5GW of renewable energy capacity in the continent by 2030, mobilising $5bn, of which $1bn will come from equity commitment, and $4bn from project finance.

    Additionally, the initiative seeks to create pathways for other multilateral development banks, governments, and philanthropies to enable additional private sector investment. The COP28 Presidency has also called on international financial institutions and foundations to join the effort.

    The announcement comes days before the United Nations Framework Convention on Climate Change (UNFCCC) is due to release the technical data around the first ‘Global Stocktake’ of climate progress since the 2015 Paris Agreement.

    Credit(Gulf Times)

  • CIBAFI and the Securities and Commodities Authority Successfully Launch a Joint Technical Workshop on Digital Transformation Strategy in Dubai, UAE

    CIBAFI and the Securities and Commodities Authority Successfully Launch a Joint Technical Workshop on Digital Transformation Strategy in Dubai, UAE

    12 – 14 June 2023, Manama, Kingdom of Bahrain, Abu Dhabi, UAE | The General Council for Islamic Banks and Financial Institutions (CIBAFI), the global umbrella of Islamic financial institutions and the Securities and Commodities Authority, have successfully launched their joint Technical Workshop today in Dubai, UAE.

    This Technical Workshop is themed: Digital Transformation Strategy for Islamic Financial Institutions (IFIs). The workshop is organised with the support of Finastra for three days.
     
    Building on the success of the first edition, which took place in Bahrain in the last quarter of 2022, CIBAFI has conducted the second edition of this workshop, incorporating new content, case studies, and practical examples.

    This joint technical workshop aims to reinforce cooperation between CIBAFI and the Securities and Commodities Authority in developing the Islamic financial services industry (IFSI).

     The two institutions have signed an MoU to seal their commitment in providing initiatives and activities aimed at addressing and enhancing understanding of emerging topics and issues in the industry.

    Commenting on the workshop, Dr. Abdelilah Belatik, Secretary General of CIBAFI said: 
    “Our collaboration with the Securities and Commodities Authority is a keen manifestation of our commitment to work with industry leaders in providing the necessary support for the IFSI. We are delighted to hold the second edition of this workshop in Dubai to emphasise on the paramount importance of digital transformation for IFIs. It is very important for institutions to adapt to the changing landscape and capitalise on the opportunities of technology advancements for enhanced customer experiences and competitive advantage. We are as always, committed to continue spearheading initiatives and activities that raise awareness of the industry’s latest trends and challenges.”

    H.E. Mohammed Khalifa Al Hadari, Deputy CEO of the Securities and Commodities Authority added: “This workshop builds upon the collaboration between the Securities and Commodities Authority and CIBAFI within the framework of the MoU which was signed in 2014. The MoU highlights our commitment to enhance the growth of the IFSI and support digital capabilities in line with global best practices.Technology has become one of the most vital components in the financial sector, and digital transformation is now an urgent necessity for achieving growth and sustainability in IFIs. Through this workshop, we aim to equip participants with the knowledge, capabilities, and necessary tools to develop a successful digital transformation strategy that meets the needs of all stakeholders. This will enable them to attain leading positions regionally and internationally within the IFSI.”
     
    The workshop is attended by a number of senior representatives of Islamic banks and financial institutions, as well as Regulatory and Supervisory Authorities (RSAs). During the workshop, participants will delve into the tools necessary to develop a robust digital transformation strategy that caters to their specific needs and positions them as market leaders. They will also engage with successful case studies from the industry, enabling them to analyse and identify key pillars of success, including leadership, culture, and collaboration.
     
    CIBAFI wishes to thank its Strategic Partner, the Securities and Commodities Authority, its Knowledge Partner, Finastra, and its expert speakers for facilitating the workshop.
     
    The CIBAFI Technical Workshop is aligned with the objective of Professional Development, which aims to enhance capacity building within the Islamic financial services industry (IFSI). These programmes are practical and targeted towards the staff of Islamic banks and financial institutions, regulators, and practitioners. In addition, they aim to engage participants in the discussion on the current environment of the Islamic banking industry.  
    SOURCE:(CIBAFI)
  • 12th Edition of Annual Investment Meeting Closes on a Positive Note

    12th Edition of Annual Investment Meeting Closes on a Positive Note

    AIM attracted 10,313 visitors from 175 countries, who engaged in 281 sessions featuring 693
    speakers

    Abu Dhabi, United Arab Emirates, May 25, 2023: The 12th edition of the Annual Investment Meeting
    2023, held 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, came to a grand close,
    after three days of insightful discussions, engaging exhibitions, and fruitful networking sessions.

    This year’s theme “The Investment Paradigm Shift: Future Investment Opportunities To Foster
    Sustainable Economic Growth, Diversity and Prosperity” aimed to provide a platform for global
    investors, entrepreneurs, and policymakers to explore new opportunities and partnerships that will
    drive sustainable economic growth and development.

    Commenting on the successful conclusion, H.E. Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for
    Foreign Trade, said, “The Annual Investment Meeting has been a resounding success.

    The annual event has once again provided a platform for business leaders, investors, and government officials
    to come together and explore new avenues for collaboration and investment. As the world continues
    to face unprecedented challenges, and the rapidly evolving global economic landscape, it is more
    important than ever for us to work together and find innovative solutions to these challenges. At this
    year’s AIM, we have seen first-hand the power of collaboration and innovation.

    From the engaging discussions and insightful presentations to the numerous business deals that have been made, this event has demonstrated the tremendous potential of international cooperation. I am confident that
    the relationships and partnerships that have been forged here at the AIM will help to bring about a
    brighter future for us all. I look forward to seeing the fruits of our collective efforts in the months and
    years to come.”

    His Excellency Ahmed Jasim Al Zaabi, Chairman of Abu Dhabi Department of Economic Development
    (ADDED), said: “The success of the Annual Investment Meeting 2023 reflects Abu Dhabi’s status as
    global hub for business, investment, and talent as well as the role it plays in setting agenda and
    leading conversations to address current and future challenges and opportunities.

    This year’s edition of AIM served as a platform to engage with key decision-makers, investors, thought and business
    leaders from around the world to double down on the unique attributes of Abu Dhabi’s soaring
    ‘Falcon Economy’ and the ample opportunities it provides to the global investment community to
    grow, thrive, and expand.”

    H.E. Al Zaabi added: “We remain committed to build on our remarkable achievements and continue
    to thrive as the most competitive destination for industry, trade, and finance by offering unparalleled
    business-friendly ecosystem to help global businesses succeed and flourish.”

    Over the course of the event, AIM attracted 10,313 visitors from 175 countries worldwide, who
    engaged in 281 sessions featuring 693 speakers who shared their perspectives, insights, and
    experiences on investment trends, opportunities, and challenges in various sectors and industries.

    This year’s edition of AIM was particularly notable for the 23 Memorandums of Understanding
    (MoUs) signed on the sidelines of the event, including the six Tolerance and Coexistence MoUs such
    as those between the UAE and the Republic of Kazakhstan, the UAE and the Republic of Armenia,
    and the UAE and the Island of Guinea, among others.

    The MoUs, signed between government entities, financial institutions, and private sector firms from
    different countries, covered a wide range of sectors and industries, including finance, healthcare,
    education, energy, and technology. The MoUs aim to promote strategic partnerships and
    collaborations that will drive investment and economic growth across different regions and sectors.

    The AIM 2023 also featured an engaging exhibition that showcased the latest innovations, products,
    and services from different sectors and industries. The exhibition attracted a diverse range of
    exhibitors from different countries and sectors, who demonstrated their products and services and
    engaged with visitors and stakeholders. Some of the key exhibitors were Abu Dhabi Chamber, Abu
    Dhabi Global Market, WeGo, Saud Bahwan, Emirates Development Bank, and Hong Kong Trade
    Development Council.

    Commenting on the success of the event, Dawood Al Shezawi, Chairman of Annual Investment
    Meeting, said: “As we conclude this year’s Annual Investment Meeting, I would like to express my
    gratitude to all of the participants, speakers, and organizers for making this event a tremendous
    success.

    It has been a privilege to witness the many engaging discussions, insightful presentations,
    and innovative ideas that have been shared over the past few days.

    The AIM has always been a platform for bringing together leaders from the worlds of business, finance, and government, and this year’s event has been no exception. From the challenges and opportunities to the latest trends
    and developments in investments, technology and innovation, we have explored a wide range of
    topics that are shaping the future of investment and economic development.

    “As we look ahead to the coming months and years, I am confident that the relationships and
    partnerships that have been forged here at the AIM will help to drive economic growth and create
    new opportunities for people around the world. We must continue to work together to find
    innovative solutions to the challenges we face, and to build a more resilient, sustainable, and
    inclusive global economy.

    Once again, I would like to thank everyone who has contributed to the
    success of this year’s AIM, and I look forward to seeing you all again at future events.”

    The AIM 2023 demonstrated the importance of collaboration, innovation, and sustainable
    development in driving economic growth and prosperity, and the next edition of AIM promises to be
    even more exciting and engaging.

  • Annual Investment Meeting 2023 highlights

    Annual Investment Meeting 2023 highlights

    opportunities to stimulate FDI flow and boost economic growth

    Abu Dhabi, United Arab Emirates, 30 April 2023: The Annual Investment Meeting (AIM Global 2023), one of the world’s largest investment platforms, will be hosted for the first time in Abu Dhabi from 8- 10 May, 2023, in collaboration with the Ministry of Industry & Advanced Technologies, and the Abu Dhabi Department of Economic Development (ADDED) as a lead partner.

    The 12th edition of the conference, organised by AIM Foundation, will shed light on the global investment scene and the need to formulate mechanisms and policies to stimulate FDI flows to achieve sustainable economic growth, considering the impacts of technological disruptions, climate change, geopolitical tensions, and inflation.

    The theme of the signature event will revolve around “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity and Prosperity,” and aims to build a global economy roadmap through establishing investment opportunities, upholding solidarity, and developing economic relations among nations, as well as addressing the ordeals that will make a profound impact to economic development.

    The UAE has been ranked first in the Arab world and 19th globally for its ability to attract foreign direct investment (FDI) inflows by the World Investment Report 2022 issued by the United Nations Conference on Trade and Development (UNCTAD). The UAE also emerged 17th globally in terms of FDI outflows that totalled $22.5 billion in 2021, reflecting a 19 per cent growth compared to the year 2020.

    His Excellency Rashed Abdulkarim Al Blooshi, Undersecretary of ADDED, said: “We are pleased to host the Annual Investment Meeting in Abu Dhabi, which is attracting world-class economic events and conferences to discuss new developments and drivers of FDIs and their role in the economic growth. Ranked as one of the best destinations to attract FDI, Abu Dhabi is forging ahead with its efforts to enhance business-supportive ecosystem that presents investors with growth opportunities. Our proactive, open approach led us to launch several initiatives to enhance the legal and regulatory frameworks to encourage foreign direct investment and promote domestic investments. These efforts are paying off as evidenced by growth of FDI inflows, particularly in knowledge-based sectors”.

    “We are looking forward to discuss ways to benefit from ample opportunities provided by Abu Dhabi’s transition to the next phase of its economic diversification strategy with the international investment community at AIM”.

    Workshops and sessions

     The Annual Investment Meeting 2023 will feature a variety of interactive panel discussions and sessions, during which several high-level speakers and experts will work together to present solutions and approaches to introducing new sources of investments and directing more capital for various economic activities, both locally and globally.

    AIM Global’s several workshops and sessions include “The future of FDI: Key trends that will drive FDI in 2023 and after,” which will tackle the major trends that will drive the future of FDI and provide an assessment of how IPAs can leverage these trends to maximise the volume and quality of FDI they can attract; “Attracting high-quality FDI for economic growth,” which will show how economic growth and prosperity can be achieved through FDI attraction; “The future of investment promotion,” which will address the way IPAs can change their activities and organizational structure in order to continue to successfully attract and maintain FDI; and “How to provide what investors want,” which will offer detailed insights into how corporate investors make international expansion and location decisions.

    The pre-event sessions include “Global Leaders Debate: The Future Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity, and Prosperity” which will focus on how disruptive technologies, climate change and geopolitical tensions as well as the pandemic are all factors that the economy is faced with.

    There will also be the “Investing in Space to attain the UN SDG’s and Sustainability,” “Global Economic Outlook – Beyond the Paradigm Shift, Where Next for the Investment Market,” which aims to explore the opportunities for FDI and FPI in identifying changes that will transform the global investment landscape, influencing investments with Environmental, Social and Governance (ESG) and embracing all stakeholders; and “Devoting FPIs Towards a Greener World,” which will discuss how FPIs have been adhering to ESG and climate goals.

    Other sessions include “Creating Resilient Supply Chains to Enhance Growth Opportunities,” which will discuss the relevance of creating resilient supply chains and new infrastructure in the 21st century; “Quality FDI: Attracting Meaningful Investments for Economic Growth,” about how attracting investment boosts the economy by generating jobs and driving innovation; and “Sustainable Investment Opportunities in FDI,” which will explore how to encourage the development of sustainable technologies and how to integrate ESG going forward.

    To register, please visit https: //aimcongress.com/register.

     

     

     

     

  • AIM Signs Memorandum of Understanding with UNWTO to Boost Tourism-Based Investments

    AIM Signs Memorandum of Understanding with UNWTO to Boost Tourism-Based Investments

     Abu Dhabi, United Arab Emirates, 5 April 2023 – The World Tourism Organization (UNWTO), the specialized agency of the United Nations for tourism development, and the Annual Investment Meeting (AIM), an esteemed investment platform in the Middle East, have strengthened their cooperation around common interests in tourism-related investments. The two parties will work together to harness the power of tourism to drive global development and to accelerate the implementation of the agenda 2030 and the Sustainable Development Goals (SDGS), particularly now that economies are now starting to recover from the pandemic.

    UNWTO and AIM, through this new Memorandum of Understanding, have formally committed to jointly support the following goals: the effective implementation of the agenda 2030 and the 17 SDGs through tourism investments, and the promotion of innovation and technology. UNWTO and AIM’s collaborative works related to investment facilitation and promotion will see them share and disseminate knowledge regarding investment policies among their stakeholders and networks and maximize foreign direct investments’ positive economic impact on the sector.

    UNWTO is the leading international organization in the field of tourism. It promotes tourism as a driver of economic growth, inclusive development, environmental sustainability and aims to drive the digitalization of tourism and to create an innovation and entrepreneurship ecosystem. The Organization offers leadership and support to the sector in advancing knowledge and tourism policies worldwide.

    AIM provides an invaluable and unparalleled opportunity for public and private entities to come together to achieve their shared vision of growth and sustainability. Anchored around the theme of “The Investment Paradigm Shift: Future Investment Opportunities To Foster Sustainable Economic Growth, Diversity and Prosperity,” this year’s AIM edition will focus on 10 key sectors that include Tourism & Hospitality, among others.

    In line with the two organizations’ commitment to cooperate in the implementation of projects as stipulated in the MoU, UNWTO will spearhead the “Tourism Investment Forum” to be held on the framework of the upcoming AIM Global 2023 in Abu Dhabi, United Arab Emirates on May 8-10, 2023.

    UNWTO Secretary-General Zurab Pololikashvili commented: “UNWTO has recognized investments as our key priorities for tourism right now and into the future. Investments are essential for the tourism sector to grow. And in turn, a thriving tourism sector can also attract investors. UNWTO is proud to collaborate with AIM around our shared goal of boosting investments into tourism and into the projects that will deliver greater sustainability and resilience for the sector.”

    AIM President Dawood Al Shezawi said: “It has been AIM’s mission to provide an interactive platform where investment opportunities can be formed, thereby not only strengthening economic relations among nations but also addressing issues that have profound effects on a global scale.”

    He added, “AIM takes pride in its belief that keeping abreast of the latest changes and issues while at the same time making available the best venue where the brightest minds, from all sectors, can converge to find solutions and scale up development ideas is of utmost importance. We welcome this great chance to cooperate with the UNWTO and we are certain that this collaboration will be fruitful.”

    AIM Global 2023 has engaged in several technologically driven initiatives as part of its commitment to build the global economy roadmap and bolster the five key pillars, which include Foreign Direct Investment, Small and Medium Enterprises, Future Cities, Startups, and Foreign Portfolio Investments. Besides Tourism & Hospitality, the other key focus sectors are Agriculture, Energy, Technology, Infrastructure, Manufacturing, Transportation & Logistics, Finance, Healthcare, and Education.

     

     

  • Annual Investment Meeting tackles global market challenges, future investment opportunities in partnership with the Abu Dhabi Department of Economic Development

    Annual Investment Meeting tackles global market challenges, future investment opportunities in partnership with the Abu Dhabi Department of Economic Development

    Abu Dhabi, United Arab Emirates, 2 April 2023: The 12th Annual Investment Meeting (AIM Global 2023), which is supported by the Ministry of Industry and Advanced Technology in partnership with the Abu Dhabi Department of Economic Development, will feature a number of local and international events, forums, and conferences from May 8 to 10 at the Abu Dhabi National Exhibition Centre and discuss the latest investment trends, challenges, and opportunities to further boost the sustainable growth of the global economy.

    Its lineup of activities comprises a series of dialogue sessions, keynote speeches, and interactive workshops that facilitate the exchange of ideas and best practices, foster dialogue and cooperation, and encourage collective efforts towards achieving a more sustainable and equitable financial future for all.

    It will focus on two main tracks, Investment and Innovation & Technology, which will highlight several topics that cover 10 key different sectors – Agriculture, Energy, Technology, Infrastructure, Manufacturing, Tourism & Hospitality, Transportation & Logistics, Finance, Healthcare, and Education.

    Least Developed Countries Forum

    Organized in cooperation with the World Association of Investment Promotion Agencies (WAIPA), the Least Developed Countries Forum aims to shed light on the key challenges confronting investment promotion agencies globally, such as market analysis mechanisms, investment trends, and sustainable approaches to addressing them, with a particular emphasis on investment promotion agencies in the least developed countries.

    İsmail Erşahin, WAIPA Executive Director and CEO, lauded the long-term partnership between the association and the Annual Investment Meeting, the world’s leading platform that offers an excellent opportunity for investment experts, private sector representatives and international organizations to network and exchange ideas.

    “This year we are pleased to be partnering on a conference for Least Developed Countries, where we will dedicate an entire day to discussing the crucial issues facing investment promotion agencies representing LDCs globally and to presenting them with the tools and knowledge needed to address their challenges in a productive and sustainable manner. We are also looking forward to hosting a workshop on attracting institutional capital, an increasingly urgent task for IPAs which WAIPA is supporting through our training programs,” Erşahin said.

    Future Finance Forum

    The Future Finance Forum, in partnership with the Union of Arab Banks under the theme “Leveraging Innovative Technologies for Financial Inclusion and Sustainability,” will bring together experts and practitioners to explore the role of cutting-edge technologies, such as blockchain, artificial intelligence, Web3, and digital currencies, in promoting financial access, stability, and sustainability. The Forum’s attendees will also gain a comprehensive understanding of the challenges and opportunities in implementing these technologies in the finance sector so they can collaborate on concrete solutions for a more inclusive and sustainable financial future in the Arab world.

    Commenting on the collaboration, Secretary General of Union of Arab Banks Dr. Wissam Fattouh said: “In light of the global economic and climate risks, the Arab region is witnessing deep economic and financial transformations, which will shape its landscape for the upcoming decades. The Union of Arab Banks, in partnership with AIM, aims to shed light on the emerging challenges facing our region, and how to transform them into opportunities, in order to achieve a green, sustainable, and digital Arab economy.”

    The local and global side events at the AIM Global 2023 also include “Make it in the Emirates”; “Invest in Abu Dhabi”; “Road to the World Investment Forum” in collaboration with the United Nations Conference on Trade and Development; “Entrepreneurs Investment Summit” with the United Nations Industrial Development Organization (UNIDO); “Bloomberg New Energy Finance Forum”; “Future Finance Forum” with the Union of Arab Banks; “World Local Production Forum” with the World Health Organization; “Tourism Investment Forum” with the United Nations World Tourism Organization (UNWTO); “Least Developed Countries Forum” in partnership with the World Association of Investment Promotion Agencies; “Finoverse Forum”; “Distressed and Alternative Investment Forum” with the DDC Financial Group; and “Advanced Manufacturing Investment Forum” to be hosted by UNIDO.

    AIM Global 2023 will revolve around the theme “The Investment Paradigm Shift: Future Investment Opportunities To Foster Sustainable Economic Growth, Diversity and Prosperity.” Throughout its previous editions, the conference has established itself as the world’s largest investment platform, attracting extensive international participation from decision-makers, senior officials, businesspeople, experts, and academics. It has excelled at providing a premier venue for knowledge dissemination and exchange, staying updated on the latest developments in foreign direct investment and related matters, sharing experiences, exploring business prospects, and forging cooperation and partnership agreements.

     

     

  • With participation of 600 speakers in over 160 dialogue sessions

    With participation of 600 speakers in over 160 dialogue sessions

    Abu Dhabi hosts the world’s largest investment forum

     Abu Dhabi, United Arab Emirates, 21 March 2023: The capital of the United Arab Emirates, Abu Dhabi, will be hosting the 12th edition of the Annual Investment Meeting (AIM Global 2023) to be held on May 8 to 10 under the theme “The Investment Paradigm Shift: Future Investment Opportunities to Foster Sustainable Economic Growth, Diversity and Prosperity” with over 600 high-level speakers participating in more than 160 dialogue sessions.

    Abu Dhabi’s hosting of the AIM Global for the first time, which is supported by the Ministry of Industry and Advanced Technology in partnership with the Abu Dhabi Department of Economic Development, is aligned with the emirate’s efforts to further strengthen its economic position in the region and to promote foreign direct investments among the countries of the world by consolidating investment opportunities aimed at sustainable development and leveraging digital technology.

    Dawood Al Shezawi, Chairman of the Annual Investment Meeting, said: “The Annual Investment Meeting, the largest investment forum, has succeeded throughout its previous editions in solidifying the position of the United Arab Emirates on the global investment map, and in pushing forward its progress over the next 50 years.”

    He added that organizing the 12th edition of the Annual Investment Meeting in Abu Dhabi, which has established itself as a preferred and thriving business and investment destination, is a result of its proactive ability and flexibility in dealing with changes and developments to stimulate and support appropriate events and talents, and providing innovative solutions to face current and future challenges.”

    He also stressed that they are continuously working to establish the foundations of a business system that provides opportunities for growth and prosperity for investors to achieve sustainable economic and social development goals.

    “The event provides businessmen and investors with the opportunity to meet, establish strategic agreements and partnerships, expand their businesses, and introduce new channels of work that are offered by the available investment sectors that are abundant in the emirate of Abu Dhabi and the entire United Arab Emirates,” Al Shezawi added.

    The Annual Investment Meeting brings together a high-level group of leaders, government officials, decision-makers, businessmen, major regional and international investors, key global companies and organizations, as well as smart city solution and technology providers and a number of startups and institutions financing small and medium-sized projects, over the course of three days.

    Its main purpose is to discuss how to better utilize technological innovations to augment investments in companies, encourage technology transfer, and increase competitiveness for countries to achieve economic growth through sustainable investments, and exchange views with governments to create stronger economic structures for investors and unify opportunities for the sustainable growth of the economy.

    This year’s 12th edition seeks to expand the scope of work by launching a range of activities that will benefit all of its participants. It will focus on two main tracks, Investment and Innovation & Technology, and on 10 key sectors, which include Agriculture, Energy, Technology, Infrastructure, Manufacturing, Tourism & Hospitality, Transportation & Logistics, Finance, Healthcare, and Education.

    The event agenda

    The Annual Investment Meeting has in its agenda a series of activities and programs, such as a specialized exhibition, investments roundtables, investment awards, startup awards, investor’s hub, investment destinations, B2B,G2B, G2G meetings, regional focus forums as well as pre-conference workshops.

    In addition, several side conferences and events will be organized and hosted, including “Make it in the Emirates”; “Invest in Abu Dhabi”; “Road to the World Investment Forum” in collaboration with the United Nations Conference on Trade and Development; “Entrepreneurs Investment Forum” with the United Nations Industrial Development Organization (UNIDO); “Bloomberg New Energy Finance Forum”; “Future Finance Forum” with the Union of Arab Banks; “World Local Production Forum” with the World Health Organization; “Tourism Investment Forum” with the United Nations World Tourism Organization (UNWTO); “Agriculture Technology & Food Security Investment Forum” hosted by the Food and Agriculture Organization of the United Nations; “Least Developed Countries Forum” in partnership with the World Association of Investment Promotion Agencies; “Finoverse Forum”; “Distressed and Alternative Investment Forum” with the DDC Financial Group; and “Advanced Manufacturing Investment Forum” to be hosted by UNIDO.

     Entrepreneurs Investment Summit (UNIDO)

    Entrepreneurs Investment Summit 2023, organized by the Arab Bank for Economic Development in Africa, the Union of Arab Chambers, and the Investment and Technology Promotion Office of UNIDO in Bahrain, aims to create a platform for promoting bankable investment opportunities led by entrepreneurs/SMEs and macro investments from African and Arab region.

    It also seeks to share best practices and experiences from Africa and the Arab Region on the means of stimulating and unleashing entrepreneurship and joint investments, and deliberate on the challenges, opportunities, threats, and the road forward towards achieving the Arab-African economic integration.

    The Future Finance Forum

    The Future Finance Forum, organized in collaboration with the Union of Arab Banks, will provide a platform for stakeholders from government, industry, civil society, and academia to engage in a comprehensive examination of the trends and challenges shaping the future of finance.

    The theme of the forum “Leveraging Innovative Technologies for Financial Inclusion and Sustainability” reflects the recognition of the critical role that financial innovation plays in promoting inclusive and sustainable development.

     Tourism Investment Forum(UNWTO)

    The UNWTO is organizing the Tourism Investment Forum following the unprecedented and extensive disruption caused by the COVID-19 pandemic in the tourism sector, which requires a quantum leap in tourism investments to better support and accelerate the implementation of the 2030 Agenda and the Sustainable Development Goals.

    There is growing consensus among tourism stakeholders as to how the future resilience of tourism will depend on the sector’s ability to balance the needs of People, Planet and Prosperity.

    In line with these goals, the Tourism Investment Forum provides an opportunity for governments, private sector investors, multilateral financial institutions, and development banks to enhance their coordination and combine their capacities and resources to turn priorities into investable projects by unlocking the potential of a new and redefined tourism investment approach.

     Bloomberg New Energy Finance UAE Forum

    The Bloomberg New Energy Finance UAE Forum discusses the dynamic shift in demand for traditional commodities such as oil, gas, and metals in light of the transition to a low-carbon economy, as newer commodities such as power, carbon, hydrogen, and even sustainable aviation fuels will see their landscape change. Participants will also address several questions, such as the role of “clean energy molecules” and what energy producers in the Middle East should expect.

    The forum will also present the results of the New Energy Outlook report and the various net-zero pathways that can emerge for countries and sectors, with the Middle East playing a role in supporting the pathways of other countries.

    Distressed and Alternative Investment Forum

    The DDC Financial Group’s Distressed and Alternative Investment Forum features two dialogue panels. The first, “The Role of Distressed & Alternatives in a Diversified Portfolio,” discusses the available opportunities for investors in the field, the current economic environment and how rising interest rates are creating a unique set of opportunities for distressed debt investors that has not been seen for over a decade.

    The second session sheds light on the Global Distressed and NPL Investing, providing insights into strategies and opportunities available in this field. It involves a discussion on the different asset classes in this sector of the market, including real estate, corporate, and consumer debt, the secondary market, as well as the panelists’ sharing of their experiences and analysis of investing in distressed and NPL assets across different geographies, including emerging markets and developed economies.

    It also covers 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.

    The Finoverse Arabia Forum

    The Finoverse Arabia Forum discusses the role of FinTechs and the adoption of technology in shaping the future of financial and banking institutions, as well as maximizing their efficiency and profits. It also explores the lessons learned from founding and developing startups, and sharing best practices through several panel discussions that address the intersection of FinTech, artificial intelligence, and Web3.

    This includes transforming business models and strategies across sectors, while addressing the infrastructure gaps and regulatory challenges. The advantages of investing in building a trusted Internet network across regions are also reviewed, along with strategies for securing and attracting the best talent to fuel Web3’s continued growth.

    The AIM Global 2023 is preceded by a series of professional interactive training sessions, led by experienced industry experts from all over the world. There will also be a range of workshops sessions aimed at enriching the participants’ experience and informing them about profitable investment opportunities.

    These workshops will be held one day prior to the event, where governments, smart city solution providers, startups, small and medium-sized companies, and investment opportunity providers touch base to achieve economic growth for their respective countries and regions.

    For more information, please visit the AIM website at www.aimcongress.com.

    -Ends-

     

  • UAE: Crypto Oasis lists over 1,650 blockchain firms by Q4 2022

    UAE: Crypto Oasis lists over 1,650 blockchain firms by Q4 2022

    More than 8,300 individuals currently work in organisations in the crypto, blockchain, metaverse and Web3 ecosystem of the UAE

    Crypto Oasis has now surpassed their goal of identifying 1,500 organisations in the ecosystem by the end of 2022. As of December 31, there were over 1,650 organisations, and the ecosystem has experienced a 13.8 per cent growth.

    Crypto Oasis has added more than 200 new organisations in Q4 2022. These firms have brought in over 1,300 skilled professionals to the ecosystem, bringing the total number of individuals working in this industry to over 8,300. This 19 per cent growth in employment numbers can be attributed to the UAE being a force to reckon with in the global blockchain landscape.

    A total of 78.2 per cent (approx. 6,500) of these individuals work in native blockchain organisations, i.e. those focused on blockchain and related decentralised technologies. Meanwhile, 21.8 per cent (approx. 1,800) work for non-native companies, i.e. those that offer blockchain-related services or products but do not have blockchain as their primary focus.

    Ralf Glabischnig, Founder of Crypto Oasis, stated: “We’re thrilled to have identified these new organisations in our ecosystem that are contributing to a diverse community of stakeholders. The possibilities for Web3 technology are vast, from finance and supply chain management to gaming and social media.”

    “However, as it’s a relatively new and emerging technology, its full potential hasn’t been reached yet and the industry is facing challenges such as scalability, security, and user adoption. It’s an exciting and rapidly evolving field to watch and we’re eager to collaborate and learn from each other as we work to improve Web3 and decentralised technologies.”

    Crypto Oasis supports blockchain and Web3 organisations to access resources and expertise that can help them navigate the complex and rapidly evolving landscape. In addition, joining the ecosystem allows them to network with potential partners and customers and showcase their work to a wider audience.

    “The UAE is the perfect amalgamation of Talent and Capital built on a world-class infrastructure,” said Saqr Ereiqat, co-founder of Crypto Oasis.

    “The Ministry of Economy (MoE) has become one of the first government entities in the world to be active in the metaverse. In 2022 the MoE published its Digital Economy Strategy, which aims to double the contribution of the digital economy from 9.7 per cent to 19.4 per cent in the next decade.

    The inception of regulators like VARA and various industry events like the Abu Dhabi Finance Week and Dubai Fintech Week, as well as the launch of the Dubai Economic Agenda ‘D33’, demonstrate UAE’s commitment in taking an active step to becoming the centre of digital economy globally.“

    Crypto Oasis Ecosystem Report 2022
    Meanwhile, in the inaugural version of the Crypto Oasis Ecosystem Report 2022, published in partnership with Roland Berger in October’22, the ecosystem identified over 1,450 Web3 organisations in the UAE at the end of Q3 2022.

    This report aimed to establish the first quantitative and qualitative study of the Crypto Oasis ecosystem.

    Credit: (Gulf Business)