Abu Dhabi to host Unctad's World Investment Forum in October

The event will focus on increasing investment in sustainable development to tackle mounting global crises

The Abu Dhabi skyline. The five-day Unctad forum will take place a few weeks before the Cop28 climate summit. Khushnum Bhandari / The National

Abu Dhabi will host the UN Conference on Trade and Development's eighth World Investment Forum in October as the UAE capital continues to attract global business events.

The forum will take place from October 16 to October 20 under the theme “Investing in sustainable development”, Unctad said on Thursday.

The event will gather global company chief executives and investment stakeholders to tackle the key challenges stemming from several crises, including the need to invest in food security, energy, health, supply-chain resilience, infrastructure and manufacturing in the least-developed countries, the UN body said.

“The World Investment Forum aims to bring them all together to make a positive contribution to addressing today’s most pressing issues, including through climate finance and investment,” said Unctad's secretary general Rebeca Grynspan.

The UAE has made a major push into energy transition — including being the first in the region to develop nuclear power and to set a net-zero target — making it well-placed as a host for the sustainability-themed event.

The country is also hosting Cop28 at Dubai Expo City over 13 days in November.

The five-day Unctad forum will take place a few weeks before the annual climate summit Cop28 in the country.

The forum will help policymakers and other stakeholders to find solutions and reach consensus on priority issues, and its outcomes will feed into Cop28 negotiations, Unctad said.

“At a time when much of the world is struggling with contracting markets and a post-Covid recovery that has yet to fully take hold, Unctad's eighth World Investment Forum is an important opportunity to take a long-term perspective,” Minister of State for Foreign Trade Dr Thani Al Zeyoudi said.

Global challenges covering systemic issues such as climate change, inequality and food security, as well as the pandemic’s impact on trade, investment and supply chain resilience require unity of purpose and action on an unprecedented scale, he said.

“It is fitting that the event takes place in the UAE, where we are continuously reinventing and remodelling our economy to anticipate future changes,” Dr Al Zeyoudi said.

Updated: January 19, 2023, 12:13 PM