The UAE in Davos: active presence and successful participation
Year after year, the Davos Economic Forum, which concluded its work yesterday, proves that it is the most prominent meeting of its kind on the global level, not only because it brings together at one table, on a regular basis, the world’s most senior leaders from the governmental and private sectors, but also because it has become a main window for exploring opportunities. Challenges and forecasting the future of the global economy. Based on this importance, the UAE always reserves a prominent position among the forum’s participants who are makers of the global future, and is constantly keen to ensure the success of its annual participation through delegations that reflect the country’s interest and priorities.
Perhaps the new edition of the Davos Forum for the year 2024 comes in very sensitive and delicate international economic conditions, which has made participation in it particularly important for international economic decision-makers.
Hence, the Emirati participation in this session came at the highest executive levels, with the generous presence of His Highness Sheikh Khalid bin Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, a group of ministers, and the participation of representatives from the private sector. In light of the UAE’s participation in this high representation, the results expected from it will have vital contributions that enhance the performance of the national economy, and the country’s strategies and vision for the next stage.
While the high-level participation in this year's Davos Forum is considered additional evidence of the effectiveness of the country's economic diplomacy, it carries within it several facts regarding the soft power of the national economy and its initiatives in support of the world's present and future as well.
The first of these facts is that while the UAE ranked among the top ten countries in the Global Soft Power Index for the year 2023, its remarkable contribution to supporting global economic stability is one of the most prominent foundations of this soft power in the international environment. There is no doubt that the country's active presence in this forum, the economic opportunities it provides and the initiatives it presents to international actors participating in the forum, deepen the UAE's soft power in the global economy, and highlight its leading position in international forums and conferences.
The second fact confirming the effectiveness of the UAE’s presence in this year’s Davos Forum is that the forum was chosen based on the UAE government’s “Ready” initiative, which was launched in November 2022, as part of the best global projects and inspiring institutional practices for readiness for the digital future.
While this choice is considered a culmination of the government’s continuous efforts to develop the internal business environment and accelerate the highly advanced digital transformation to continue its global leadership, it presents the Emirati experience as a model to be emulated, and on the other hand, it explains the strong attractiveness of the Emirati business environment for foreign direct investments, that attractiveness that This was evident in the country ranking first in the West Asia region and in the Middle East and North Africa region, and ranked No. 16 globally in attracting foreign direct investment flows, according to the Global Foreign Direct Investment Report issued by UNCTAD for the year 2022. The third fact is that this participation comes In the wake of a historic version of the “COP 28” conference, which the country hosted with success witnessed by everyone.
In this exceptional edition, the UAE presented to the world an innovative financing initiative that supports global economic growth and is a pioneer in climate sustainability. Through the active UAE presence in the work of the Davos Forum, it is strongly expected that the UAE Climate Fund will gain a new global support package, through which it will achieve the goals sponsored by the UAE in the global economy, most notably supporting sustainable development and confronting the financing challenges of international climate action.
*Issued by the Emirates Center for Strategic Studies and Research.
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