The discussions highlighted urgency of investing in human capital, achieving carbon neutrality
The inaugural day of Investopia 2024, held at St. Regis Sadiyaat in Abu Dhabi, featured a series of 11 panel discussions involving 37 experts. These discussions centered around investment opportunities in various sectors of the new economy, including technology, the circular economy, the creative economy, hospitality, sports, and aviation. Distinguished attendees included investors, economists, government officials, policy-makers, and entrepreneurs from around the world.
Read more: Investopia 2024: Annual conference seeks solutions to shaping future of economy
Macroeconomics in the post-COVID-19 era
One of the morning panel sessions delved into macroeconomics in the post-COVID-19 era, the significance of a successful COP28 in addressing climate change, the impact of the U.S. Presidential election outcome, and the resilience of the global economy to geopolitical shocks. Under the theme “New Economic Frontiers Unveiled: Navigating the Unknown,” the panel explored the drivers of the new economy sectors, the role of governments and the private sector in optimizing economic growth, and the dynamics of markets.
Prominent participants
Prominent participants in this session included Dr. Mahmoud Mohieldin, executive director of the International Monetary Fund; Dr. François Bourguignon, honorary president of the Paris School of Economics; Dr. Nathan Sheets, chief economist at Citi; and John Defterios, professor of Business Administration at NYU Abu Dhabi.
Investing in human capital
Dr. Mohieldin underscored the importance of addressing the needs of low and middle-income countries in the changing global economic landscape, with particular reference to Africa’s transition from a low-income region to a middle-income one. He underscored the urgency of investing in human capital, education, and infrastructure to support the middle-income countries and middle-class populations.
Achieving carbon neutrality
For his part, Dr. Bourguignon highlighted the need for swift action towards achieving carbon neutrality to avert the long-term consequences of climate change, calling for a new framework to replace the current global manufacturing and production practices.
On the other hand, Dr. Sheets expressed optimism regarding the overall health of the global economy, attributing its resilience to advancements in technology.
Regarding the UAE’s economy, Dr. Bourguignon commended its flexibility and resilience in facing global economic challenges.
Challenges posed by globalization on governments worldwide
In another panel discussion during Investopia 2024, John Defterios engaged in a lively debate with three government officials: Ryad Mezzour, minister of Industry and Trade of the Kingdom of Morocco; Jose-Maria Figueres, former president of Costa Rica; and Valentino Valentini, deputy minister for Enterprises and Made in Italy. The panel explored the impact of today’s rapid economic developments, technological advancements, renewable energy, and the challenges posed by globalization on governments worldwide.
Khaldoon Al Mubarak, managing director and CEO of Mubadala Investment Company, delivered a comprehensive review of the new investment sectors identified by the company. He highlighted the necessity of innovating investment methods and intelligently responding to the challenges and opportunities arising from recent global economic changes.
Investing in the creative economy
Furthermore, a panel discussion titled “Investing in the Creative Economy” featured Idris Elba, the renowned British actor, musician, and director, who highlighted untapped investment opportunities within the creative economy.
Family offices: Catalyzing ESG and shaping the future
The opening day of Investopia 2024 also hosted a roundtable titled “Family Offices: Catalyzing ESG and Shaping the Future” in collaboration with Standard Chartered Bank and the UAE-U.K. Business Council. The roundtable recognized sustainability as a crucial pillar in the new economy.
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