His Excellency Abdullah bin Touq Al Marri, Minister of Economy, confirmed, at the conclusion of “GITEX Technology Week,” that the UAE is currently witnessing growing momentum in all economic sectors, accompanied by a group of major economic conferences and gatherings, pointing out that the directives of the wise leadership of His Highness Sheikh Mohammed bin Zayed Al Nahyan, President of the State, may God protect him, and his brother His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, and the follow-up of His Highness Sheikh Mansour bin Zayed Al Nahyan, Vice President of the UAE, Deputy Prime Minister and Head of the Presidential Court. It aims to consolidate the country’s position as a global economic destination that combines East and West, North and South.
GITEX Technology… has a long history in enriching the technological sectors
In its final session of 2023, GITEX witnessed the participation of more than 6,000 exhibitors, more than 180,000 technology executives from more than 180 countries, and more than 800 government agencies from the Middle East, Africa and South Asia, on an area exceeding 2.7 million square feet. . GITEX also constitutes an important platform through which the largest partnerships between the public and private sectors are held in the fields of technology, the digital economy, artificial intelligence, etc., in addition to the most prominent business deals and agreements related to innovation and future sectors.
For 43 years, GITEX Technology Exhibition has formed an interactive platform for major international companies and the most prominent leaders, decision-makers and economic experts in the world. The exhibition is also an exceptional gathering of technology sector leaders, emerging companies and active parties, to reveal the latest developments and the latest innovations in various pivotal and strategic economic sectors.
Bin Touq added that the UAE has strengthened its position as one of the largest destinations that host the headquarters of leading international companies and institutions, in addition to hosting a large number of major economic clusters that constitute vital platforms that bring together experts and specialists in various sectors and industries and provide them with opportunities to communicate, exchange opinions and experiences, and display products and services. Innovative, His Excellency said: “The major economic events hosted by the UAE around the world contribute significantly and effectively to supporting various economic sectors.”
His Excellency the Minister of Economy pointed out the prominent role played by hosting the most prominent international gatherings in the country, such as GITEX Technology Week, the Investment Forum, the green economy conferences within the COP28 Conference of the Parties, the Dubai Air Show, the Arab Health Exhibition and Conference, the Global Future Councils and other gatherings that contributed. In enhancing the country’s position as a global destination for economy, business and investment, and a center for innovation, creativity and advanced technology in the region.
His Excellency the Minister of Economy said: “The remarkable economic performance of all components of the economic system in the country contributed to the rise in preliminary estimates of the UAE’s gross domestic product in 2022 at constant prices to reach 1.62 trillion dirhams, achieving a positive growth of 7.9%, while at current prices it reached 1.86 trillion dirhams, an increase of more than 337%.” One billion dirhams for the year 2021, achieving a growth of 22.1%, which reflects the wisdom of the economic policies pursued by the UAE government, and confirms the strength and stability of the UAE economy in light of the economic conditions and geopolitical repercussions the world is going through.”
At the investment level, foreign direct investment flows reflect the distinguished position that the UAE enjoys as one of the most important economic, financial and investment destinations in the region and the world, as flows in 2022 reached unprecedented records in the country’s history at a value of 84 billion dirhams (23 billion US dollars). An increase of 10% compared to 2021, which is the highest number ever recorded by the country in one year.
This record placed the UAE in 16th place in the global rankings for attracting foreign direct investment, after rising six places compared to 2021. As for foreign investment in new projects, the UAE ranked fourth in the world, after the United States of America, the United Kingdom and India.
Bin Touq added: “The United Arab Emirates was able to build an economic, legislative and social environment that incubates business and investment, which was clearly reflected in the economic momentum, increased business opportunities, and the strengthening of national and foreign private sector companies, in addition to being an ideal destination for various global gatherings in various sectors.” Vital, especially new economic sectors such as the knowledge economy and the digital economy, which are witnessing a large influx of investments, specifically in the fields of advanced technology, artificial intelligence, the digital economy, and others.”
Global Investment Forum
The eighth session of the World Investment Forum, which is organized once every two years, was launched in Abu Dhabi with the participation of more than 7,000 investment stakeholders from 160 countries.
The forum, organized by the United Nations Conference on Trade and Development (UNCTAD), brought together leaders and officials from governments and companies, elite leaders, heads of state, decision-makers, business leaders, senior executives of multinational companies, as well as civil society representatives from all over the world.
Since its inception, the World Investment Forum has evolved to bridge the investment gap in global economic governance, and previous forums held in cities such as Accra, Xiamen, Doha, Geneva, Nairobi, and online in 2021, have strengthened its reputation.
Established and launched at the initiative of the United Nations Conference on Trade and Development (UNCTAD), the World Investment Forum is a flagship event and an important global platform that brings together key stakeholders from around the world to formulate policies and strategies aimed at addressing investment and development challenges around the world.
Arab Health Exhibition and Conference
Since its inception, the Arab Health Exhibition and Conference has been able to consolidate its position as a forum that brings together health sector experts in the Middle East, and attracts regional and international stakeholders to discover and discuss creative solutions in the health sector in a way that contributes to the development of the health care system for future generations.
The exhibition witnesses the attendance of approximately 3,000 exhibiting companies from 70 countries around the world, in addition to thousands of visits from various parts of the world to approximately 10 conferences, while the list of attendees includes procurement experts, biomedical engineers, hospital directors, dealers and distributors, doctors, and government agencies. .
Dubai Airshow
The Dubai Airshow is a global platform that brings together sector leaders and innovators to discuss and identify future trends and explore opportunities to benefit from them, in addition to highlighting the pivotal role of emerging companies in achieving the goals of this sector, and enhancing cooperation and knowledge exchange between various leading stakeholders in the aviation sector to develop specific paths and plans. Well-thought-out plans pave the way towards achieving sustainable development in the sector.
In the 2023 session, the exhibition is expected to witness the participation of more than 1,400 exhibitors from 95 countries, in addition to 400 new exhibitors, while during its 2021 session, it witnessed the conclusion of deals worth more than 74 billion US dollars and attracted more than 104,000 visitors, an increase of about 50. % in the number of visitors, including a number of senior executives from 148 countries.
“Expand North Star”
It brings together artificial intelligence experts from all over the world, and the “Expand North Star” exhibition attracts the most important international companies specialized in artificial intelligence technologies, with the wide participation of more than 1,800 startup companies from more than 100 countries, and the presence of digital startups, fast-growing startups, and billionaire companies, in addition to about 1,000 investors, collectively managing $1 trillion in assets, and representatives Investment funds and family companies.
Arabian Travel Market 2023…40 thousand visitors, an increase of 29%
The Arabian Travel Market 2023 in Dubai witnessed the attendance of more than 40,000 people, including 30,000 visitors, as this year’s exhibition recorded a 29% annual increase in the number of attendees compared to last year’s edition of the event and a 5% increase over the 2019 edition of the exhibition before the pandemic, indicating On the growth and recovery of the travel and tourism sector in the Middle East.
Arabian Travel Market 2023 witnessed the participation of more than 2,100 exhibiting companies from more than 150 countries at the Dubai World Trade Center to explore how the industry can ensure sustainable travel for future generations in line with this year’s exhibition slogan “Working towards net zero”.
Investopia Global…a global platform for facilitating investment
The Emirati capital, Abu Dhabi, hosted the “Investobia Global” conference under the title “Expecting Opportunities in the Age of Change,” where experts discussed the transformations taking place in the global investment climate in light of economic changes, which have created new economic concepts related to virtual reality, the green and sustainable economy, and their implications for investment priorities in vital sectors. Among them are the fields of food technology, clean energy, climate technology, modern technologies related to the transportation, shipping and logistics sector, and investment opportunities related to these sectors in global markets.
More than 2,000 participants, including prominent local and international figures, including investors, government officials, decision-makers and entrepreneurs, participated in the major event. It witnessed the holding of 35 sessions and roundtables in the presence of more than 100 speakers, including investors, thought leaders and decision makers from around the world from more than 40 countries.
The conference discussed three topics on anticipating opportunities in today’s economy, the future of countries’ wealth, and growth opportunities for a low-carbon economy. The conference contributed to providing a clearer understanding of the structural transformations taking place in markets and investment trends globally, especially in light of the unprecedented progress of Fourth Industrial Revolution technologies and the increasing trend towards shifting towards sustainable, low-carbon economy investments.
COP28 Conference of the Parties
The United Arab Emirates will host the COP28 Conference of the Parties, from November 30 to December 12, which is the most prominent event that will be held in Expo City Dubai, and is expected to witness high-level participation that includes more than 140 heads of state and government, 80,000 participants, and about 5,000 media professionals. .
By hosting this most prominent global conference this year, the UAE seeks to consolidate work with all concerned parties to achieve balanced and ambitious results and outputs that contribute to enhancing sustainability practices and protecting the environment for future generations.
Global Future Councils
The Global Future Councils reflect the importance of the strategic partnership between the UAE government and the World Economic Forum, as it witnesses the participation of more than 600 leaders and officials from the government and private sectors, international organizations, academic institutions, experts and future visionaries from all over the world, during 30 councils that focus on designing the future paths and directions of the group. Among the most prominent vital sectors, including artificial intelligence and technology, governance, economics and finance, environment and climate, and society.
The councils aim to exchange visions and ideas, continue to contribute, and work to find appropriate plans that help governments anticipate the future and develop solutions to confront current and potential future challenges in the fields of economy, technology, infrastructure, health, society, the Fourth Industrial Revolution, and others.
A forward-looking vision that supports the UAE’s position
His Excellency the Minister of Economy concluded that the forward-looking visions of the wise leadership contribute to strengthening the innovative economic model of the UAE in a way that serves its future vision, by adopting flexible economic policies that rely on speed and accuracy in responding to global changes, which establishes the UAE as an attractive destination for leading international companies and major economic events.
The UAE adopts stimulating economic strategies and forward-looking economic plans based on economic diversification and improving economic procedures and legislation, which maintains the country’s position as an attractive environment for investments on an ongoing basis, and enhances foreign trade and openness to the world as one of the components of international economic relations. The success of these policies and their integration also enhances the requirements Sustainable development, achieving economic prosperity and a decent living for all citizens and residents of the country, and contributing to achieving the leadership and competitiveness of the UAE at the regional and international levels.
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