Kuwait participates in the Eighth World Investment Forum of the United Nations Trade and Development Organization (UNCTAD) under the slogan “Investing in Sustainable Development,” which takes place in Abu Dhabi from October 16 to 20, 2023.
The Kuwaiti delegation participating in the forum was headed by Finance Minister Fahd Al-Jarallah , representing the Prime Minister, His Highness Sheikh Ahmed Nawaf Al-Ahmad Al-Sabah, as the forum aims to facilitate dialogue and action on global and emerging investment and development challenges.
The forum discussed the main investment challenges resulting from multiple global crises, stimulating investment in food security, the transition to low-carbon energy, health systems, the flexibility of supply chains, and how to enhance productive capabilities in the poorest countries. The forum also devotes a session to highlighting climate action and investment solutions. To confront climate change with the approaching start of the Conference of the Parties (COP28), scheduled to be held in Dubai next November.
The forum also discussed measures to enhance clean energy investments in developing countries that face an investment gap amounting to $2.2 trillion annually to transition to low-carbon energy, according to UNCTAD’s World Investment Report 2023.
In his statement, Al-Jarallah stressed that the forum represents a significant and effective contribution to facing global investment challenges, praising In recognition of the pioneering role of the Department of Economic Development in the Emirate of Abu Dhabi in establishing this forum, and the valuable topics and discussions it contained on its first day, to develop and find solutions to economic and investment challenges. He expressed his thanks and appreciation to those in charge of this forum, wishing them success and coming up with recommendations that contribute to facing investment challenges in all its aspects.
The UNCTAD World Investment Forum is a multi-stakeholder gathering, held every two years at the level of Heads of State and Government, Ministers, Executive Directors and Heads of International Organizations, and has been recognized by governments and business leaders as the pre-eminent global gathering for investment partnership and policy-making, providing a platform for interaction among stakeholders. Key figures including policy makers, parliaments, CEOs of global companies, heads of investment promotion agencies and managers of sovereign wealth funds, as well as business, academia and civil society representatives.
Fahd Al-Jarallah called for the need to highlight the investment climate in Kuwait and promote promising investment opportunities there through joint work and concerted efforts between the public and private sectors.
During his visit to the pavilions of the “Direct Investment Promotion” and “Public-Private Partnership” bodies at the Forum Al-Jarallah stressed the importance of highlighting the investment scene in the country and highlighting the broad horizon of feasible and diversified investment work in it. Pointing out the importance of participating in international investment forums as they are important platforms through which public policies are formed and the directions of global decisions are determined within the framework of a joint effort.
Al-Jarallah expressed Kuwait’s keenness to attract foreign investments to it, expand cooperation with global markets, and keep pace with developments and investment and technical activity in a way that enhances sustainable development in the country.
He pointed out that Kuwait’s participation in the forum aims to exchange experiences and learn about global investment work in one of the most important and advanced global platforms and forums.
This forum was sponsored by 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.
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