Kuwait was a notable participant in the Eighth World Investment Forum organized by the United Nations Conference on Trade and Development (UNCTAD), which was held under the theme “Investing in Sustainable Development” in Abu Dhabi from October 16 to 20. Leading the Kuwaiti delegation to the forum was Finance Minister Fahd Al-Jarallah, who represented the Prime Minister, His Highness Sheikh Ahmed Nawaf Al-Ahmad Al-Sabah.
The UNCTAD World Investment Forum serves as a platform for global discussions and actions on critical investment and development challenges, both global and emerging. The forum brought together leaders and experts to deliberate on the most pressing investment challenges arising from various global crises.
Key topics included stimulating investment in food security, transitioning to low-carbon energy, strengthening health systems, enhancing supply chain flexibility, and promoting productive capabilities in the world’s poorest countries. Furthermore, the forum dedicated a session to focus on climate action and investment solutions, especially in anticipation of the upcoming Conference of the Parties (COP28) scheduled to be held in Dubai in November.
The forum was also a platform to discuss strategies for bolstering clean energy investments in developing nations. These countries face an annual investment gap of approximately $2.2 trillion to make the transition to low-carbon energy, as outlined in UNCTAD’s World Investment Report 2023.
Finance Minister Al-Jarallah emphasized the forum’s significance in addressing global investment challenges. He commended the Department of Economic Development in the Emirate of Abu Dhabi for establishing the forum and praised the valuable topics and discussions conducted during its opening day. Al-Jarallah extended his gratitude to the forum’s organizers and wished them success in producing recommendations to address investment challenges from various angles.
The UNCTAD World Investment Forum is a biennial, multi-stakeholder gathering featuring Heads of State and Government, Ministers, Executive Directors, Heads of International Organizations, and leaders from business, academia, and civil society. The event serves as the premier global meeting for investment partnership and policy-making, fostering interaction among stakeholders, including policymakers, business leaders, global company CEOs, heads of investment promotion agencies, and managers of sovereign wealth funds.
The forum focuses on critical issues related to investment, making it a vital platform for the exchange of ideas and cooperation on a global scale. This year’s forum was held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President of the United Arab Emirates, Prime Minister, and Ruler of the Emirate of Dubai, and in the presence of His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Executive Council of the Emirate of Abu Dhabi, and His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, First Deputy Ruler of Dubai, Deputy Prime Minister, and Minister of Finance.