Startups, Unicorns take centre stage at the 2024 AIM Congress

The 2024 AIM Congress saw a huge convergence of industry leaders, policymakers, and visionaries. The Congress sessions were held under the “Investment Track, Regional Focus Forum Track, and Investment Destination Track,” fostering dialogue, collaboration, and innovative solutions to global challenges.

The “Leader’s Panel: Geopolitical Tensions 2024: New Challenges and New FDI Destinations” session brought together speakers who discussed the landscape of Foreign Direct Investment (FDI). Participants underscored the significance of attracting new FDI to diverse global destinations amidst intensifying competition.

Biviana Riveiro Disla, Executive Director of the Export and Investment Centre of the Dominican Republic, highlighted her country’s streamlined investment process and strategic focus on sectors like AI and technology.

Daniel Silverman, Vice President of FDI in Quebec, Canada, addressed challenges facing FDI in the region, particularly in energy privatisation, emphasising the competitive dynamics with neighbouring markets.

Ibtisam Al Farooji, Undersecretary of the Ministry of Commerce Industry and Investment Promotion in Oman, highlighted the Sultanate’s commitment to attracting investment, leveraging its strategic location and natural resources to emerge as a leading global destination.

Raymond Siva, Head of Digital Investment at Malaysia Digital Economy Corporation, affirmed the importance of digital talent and infrastructure in fostering investment safety and growth in Malaysia.

During the “Fireside Chat” on FDIs in UAE, Massimo Falcioni, Chief Competitiveness Officer of Abu Dhabi Investment Office (ADIO), highlighted the UAE’s innovative approach to challenges, transforming them into opportunities to attract FDIs.

He underscored the UAE’s standing as a premier destination for foreign investors seeking a stable environment and a thriving economy, attributing this to the clear growth and diversification strategy set by the UAE’s leadership, coupled with efforts in trade agreements and infrastructure development.

He underlined the importance of infrastructure, local demand, and export opportunities, alongside geopolitical stability, as key factors in attracting FDIs. He also stressed the significance of talent, entrepreneurship, and education as a formula for success in the country.

The session, “Unlocking the Power of Sustainable Investment,” delved into current trends to spur economic growth and attract investors. Speakers Aziza Shaat, Economic and Trade Advisor at the Dutch Embassy in Egypt, and Dr. Pallavi Kishore, Head of Accounting and Finance at Middlesex University Dubai, highlighted that countries with robust economies are magnets for FDI inflows.

Dr. Kishore noted that despite the FDI decline in 2020 due to the Covid-19 pandemic, emerging markets in the MENA region, particularly the UAE, Saudi Arabia, and Qatar, continue to attract investments.