The UN Conference on Trade and Development (UNCTAD) will hold the World Investment Forum 2023 to rally investments for climate action, clean energy, health care, food security and other development needs.
More than 130 events co-organized with more than 80 partners will attract participation from heads of state, more than 50 ministers of government, over 150 CEOs of top companies and stock exchanges, and thousands of investment stakeholders, including managers of sovereign wealth funds, investment treaty negotiators, and leaders of international organizations. View the complete schedule.
“As the world faces multiple crises, we urgently need investment stakeholders worldwide to ignite action, unlock more funds and channel them to vital sectors key to reducing the effects of these crises,” UNCTAD Secretary-General Rebeca Grynspan said.
The conflict in Ukraine, rising food and energy costs, and debt constraints, according to UNCTAD’s World Investment Report 2023, all contributed to a 12% drop in global foreign direct investment in 2022.
Opportunity to tackle interlocking issues.
Dr. Thani Al Zeyoudi, minister of state for foreign trade in the United Arab Emirates (UAE), said UNCTAD can play a major role in addressing and ultimately mitigating these interlocking issues.
“It is an undeniably challenging moment for the global economy, and for the economies of the Global South in particular. As we confront the triple shocks of inflation, geopolitical uncertainty and climate change, balancing prosperity and sustainability requires a combination of innovation, investment and, perhaps above all, will,” Dr. Al Zeyoudi said.
He added that the forum provides an opportune moment for the global investment community, supported by policymakers and institutions, to mobilize and direct capital to projects that can fast-track environmentally responsible and socially beneficial development.
“As a consistent advocate for both equitable, inclusive growth and trade’s role in driving it, the UAE is eager to contribute to a solutions-oriented forum that can begin to write a positive new chapter for the world,” he said.
Ahmed Jasim Al Zaabi, chairman of the Abu Dhabi Department of Economic Development and Abu Dhabi Global Market (ADGM), said: “Abu Dhabi is taking a leading role in defining the new architecture for climate finance, through concrete actions including its recently released comprehensive regulatory framework for sustainable finance that rivals global standards.”
According to him, the international financial center of Abu Dhabi (ADGM) is establishing a progressive framework that drives money into initiatives, promoting climate transition for a net-zero future, by establishing strict requirements for sustainability-focused goods and services.
Mr. Al Zaabi added: “We look forward to welcoming global leaders, entrepreneurs, investors, and government representatives to the ‘Capital of Capital’, and we are confident that our collaboration will result in tangible outcomes that will benefit the global economy by supporting inclusive and advanced flow of trade and creating new opportunities for business owners and investors.”