AIM reinforces UAE’s bid to become global investment hub

The strong response received on the second day of the Annual Investment Meeting (AIM), which runs until today serves as a fitting boost towards the UAE’s continuing efforts to become an ideal global investment hub.

AIM 2022 is tackling timely and important economic issues while also giving credence to FDI’s role as a major contributor to the GDP of emerging economies across the world. The three-day event, which is going to conclude today, focuses on today’s foreign direct investment trends and prospects under the theme ‘investments in sustainable innovation for a thriving future’. This blockbuster event brings along nations and companies from all around the globe under one roof to generate breakthroughs in investments for this post-pandemic world.

The key highlight of this is the SME conference, start-up conference, future cities and FDI and FPI. Start-up nations, organised by KPMG, elaborated the contributions of the global innovation and economic transformation with economic prosperity and wealth creation.

At an SME conference ‘Employees: The Backbone of SMEs’ focussed on how people are the spine of any business intrigued multiple business owners as they invested their time to listen to the insightful session.

“During the Covid-19 pandemic everyone was faced with challenges especially with people related issues. Management experts had to wear a hat to focus solely on HR issues and emotional intelligence became a big subject,” Nandini Nadarajah, founder and executive director, said.

During the ‘regional and global integration — SME coalition for Africa’, founder and executive director, Centre for Accelerated Women Economic Empowerment Nigest Halle said: “We need more government support to women entrepreneurs if we want to lift the African economy. We need institutional machinery in our system to help grow SME’s and empower women in our industries”.

Carl Manlan, vice-president, Social Impact for Visa and Eastern Europe, Middle East and Africa, said: “We need better policies and logistics to enhance trade in Africa. We need to identify the markets from which we can source products and encourage better trade relations within Africa.”

Lived up to its commitment

With the theme, ‘Investments in Sustainable Innovation for a Thriving Future,’ AIM 2022 has lived up to its commitment of serving as a strategic platform for global exchange that openly supports international investment policies, strategies and practices for sustainable development to achieve smart and inclusive global growth.

This year’s edition of the event featured the participation of Presidents, Ministers, Ambassadors, senior government officials and leading industry professionals — all coming together to take part in key talks, roundtable discussions, key presentations and workshops that are aimed towards attracting new investments, the creation and maintenance of future cities, and how to further encourage and empower youth entrepreneurship.

AIM 2022 witnessed a workshop on Dubai FDI Capacity Building led by Fahad Al Gergawi, CEO, Dubai FDI, and Carolina Arriagada Peters, MD, Cities & Collaboration and founder of fdiCampus. The workshop sought to provide participants with the essential knowledge needed in attracting and maintaining FDI capacity.

The second day witnessed even stronger crowds with delegates, business owners, conglomerates and many others converging to soak in all they could on FDIs, from panel discussions and learn more about the economic backdrop of the UAE. Acknowledging that the UAE’s economic landscape is thriving, making it the perfect place for startups,

Focus on new businesses

Within AIM’s ‘Start Up Pillar’ various startups and new businesses were given the opportunity to display their product and services.

A multitude of topics ranging from investment options available for Mena technology to the upliftment of women entrepreneurship were covered by industry experts.

“We are looking forward to meeting global startups and entrepreneurs at AIM 2022 and providing them with the market knowledge to propel their startups and take them to the next level. Additionally, this is a good opportunity to partner with governments and VCs to create co-investment opportunities to support the UAE startup ecosystem,” said Varis Sayed, chief executive officer at Fincasa Ventures.

Recognising that the UAE propels business, Rabih Khoury, managing partner and chief executive officer, Middle East Venture Partners (MEVP) said: “Most stocks have been listed on Nasdaq and on the New York stock exchange, but we haven’t been able to get our stocks outside the United States yet. Thankfully, Abu Dhabi approved our stock and is helping propel our business in this region.”

Multiple MoUs signed

The mega business event has managed to attract multiple MoUs as part of the MoU signing ceremony. Throughout the day, a litany of union ceremonies was held between various organisations to focus on technology, innovation and a more sustainable future.

The first merging of union’s took place between AMEA Power LLC and SNEL SA with the objective of developing a 100-megawatt solar power project(s) in the Democratic Republic of Congo. They two companies aligned on more than just solar energy but also on hydropower, focusing on the Inga Dam facility located on the Congo River which is operated by SNEL alongside its thermal power stations.

“We are glad to announce the signing of the MoU with SNEL for the development of renewable energy projects in the DRC. DRC is a strategic country that is a focus for AMEA Power and we appreciate all the support that we have received from key stakeholders in the country,” said an AMEA Power LLC spokesperson.

Parque Technologico Itaipu (PTI), Arab Brazilian Chamber of Commerce and the Union of Arab Chambers also joined hands to work together on many sustainable projects in the future and focusses on the startup culture. The unionizing of the three parties is set to highlight the need to explore renewable energy through water sources and build relations across Brazil and the Arab region. “This is a good opportunity for us to stay and sign this agreement with the Arab community. For us it’s very good as we can share our experience in innovation,” said a representative from PTI.

“It brings us pleasure to sign this great agreement between the PTI, the Arab Brazilian Chamber and the Union of Arab Chambers. The idea behind the union is related to startups which is very important to our future in Brazil as well as the Arab region; while exploring renewable energy coming from water sources, something we really need,” added Arab Brazilian Chambers’ representative.

— issacjohn@khaleejtimes.com