- WIF highlights UAE leading role and initiatives in promoting ‘Blue Economy’
- Coastal populations contribution to global economy to double to USD 3 trillion by 2030
Dubai, United Arab Emirates, October 12th, 2023: One hundred countries from around the world are participating in the specialised investment exhibition “Investment Village” during the eighth edition of the UNCTAD World Investment Forum (WIF) in Abu Dhabi. This exhibition aims to showcase the capabilities, potentials, and investment opportunities in the participating countries while enhancing job opportunities, fostering collaboration, and facilitating communication among the participants.
The Investment Village exhibition will open following the official opening ceremony of the UNCTAD WIF, held under the theme “Investing in Sustainable Development,” from October 16 to 20, with the support of the Ministry of Economy and the Abu Dhabi Department of Economic Development (ADDED) as the main partner.
Investment Village highlights sustainable development opportunities in the UAE, regionally and globally . By showcasing sustainable development projects and initiatives, its goal is to inspire a new era of sustainable economic growth capable of addressing social, economic, environmental, and geopolitical challenges and difficulties.
Given the vital role our oceans and bodies of water play in global economic development, the UNCTAD WIF dedicates special dialogues to shed light on the concept of the blue economy. These dialogues focus on discussing investment plans, programs, and projects aimed at preserving marine biodiversity, expanding breeding programs, protecting endangered species, and ensuring the sustainability of marine ecosystems.
According to reports from the World Bank, coastal populations worldwide make a significant contribution to the global economy, estimated at around 1.5 trillion dollars annually. Projections suggest that this value is expected to rise by approximately 3 trillion dollars by 2030. Achieving sustainable use of ocean resources for economic growth, improving livelihoods and jobs, while preserving the ecological health of the marine system, is crucial in this regard.
His Excellency Rashed Abdulkarim Al Blooshi, Undersecretary of the Abu Dhabi Department of Economic Development (ADDED) said: “With a long coastline stretching over 700km and more than 200 islands, the ‘blue economy’ has been a key to Abu Dhabi’s development, and we stay focused on preserving marine resources and ensuring sustainable investment practices of these vital resources. This is a key requirement for achieving sustainable development, biodiversity conservation, and supporting the economy through various conventional economic activities as well as innovative areas such as renewable energy and marine biotechnology”.
“By focusing on ‘blue economy’, WIF 2023 supports efforts to promote awareness and knowledge sharing on development, preservation and regeneration of the marine environment and responsible investment in the blue economy. We are looking forward to sharing our experiences and work closely with leaders and key decision makers to enhance a sustainable blue economy”.
The UAE has taken significant strides in environmental preservation and sustainable resource management through a series of strategic initiatives. Among these, the Plan Maritime 2030: Abu Dhabi Coastal and Marine Framework Plan, with its emphasis on the blue economy, stands as a prominent framework. Additionally, the Sheikh Zayed Protected Areas Network and the national agenda under the “UAE Vision 2021” also play a crucial role in safeguarding marine ecosystems and the promotion of green energy adoption. These initiatives align with sustainability indicators, ensuring a path of enduring sustainable development. Furthermore, the Umm Al Quwain Blue Economy Strategy adds to the nation’s comprehensive efforts in this matter.
The session on “Promoting Investment in the Blue Economy,” organised in collaboration with the World Association of Investment Promotion Agencies and the Caribbean Association of Investment Promotion Agencies, aims to raise awareness about the development and preservation of the marine environment. It seeks to achieve this through the exchange of strategies and best practices that promote and facilitate investment in the blue economy.
