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UAE Economy Minister: Global Economic Challenges Need Establishing Developmental Solutions

UAE Economy Minister: Global Economic Challenges Need Establishing Developmental Solutions

Wednesday, 21 September, 2022 - 11:00
UAE’s Economy Minister Abdullah bin Touq al-Marri during a conference in Abu Dhabi on Tuesday, September 20, 2022. (Asharq Al-Awsat)

A UAE minister said on Tuesday that the current global economic challenges underscore the strategic importance of developing more developmental solutions through new economic sectors that are capable of fulfilling the sustainable development requirements and creating growth opportunities.


Economy Minister Abdulla bin Touq al-Marri stressed that the United Arab Emirates has set an ambitious goal for the next 50 years to move towards a new development model that is more developed and open to the world and based on advanced technology, talents, creativity and emerging ideas.


He made the remarks on the sidelines of announcing that Abu Dhabi will host the Global Investopia Conference in March 2023, under the theme “Envisioning opportunities in times of change.”


Marri said the conference will tackle a new generation of investment opportunities in transportation, climate, food and energy technologies, which have become a real bet for sustainable development and fundamental pillars of future economies.


He pointed out that Investopia initiative supports the national aspirations and provides new space to boost international investment dialogue and contribute to launching new innovative ideas that create sustainable growth opportunities.


The upcoming event will discuss the transformations in global investment, in light of the economic changes that created new economic concepts related to virtual reality and the green and sustainable economy, as well as its effects on investment priorities in vital sectors.


These sectors include areas of food technology, clean energy, climate technology, and modern technologies related to the transport, shipping and logistics services sector and investment opportunities associated with these sectors in global markets.


Chairman of the Abu Dhabi Department of Economic Development Mohamed al-Shorafa, for his part, said that Abu Dhabi has succeeded in establishing a supportive economic environment and achieving world-class infrastructure and communications.


He underlined the emirate’s vision and approach to entrepreneurship that enable it to provide growth opportunities for investors.


Shorafa further noted that the Investopia initiative is the suitable platform to discuss current and future economic trends, and ways to improve the national economy’s competitiveness.


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