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Reimagining Economies: The Move Towards a Digital, Sustainable and Resilient Future

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Under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, The Annual Investment Meeting, organized by theUAE Ministry of Economy, scheduled to be held from 20th to 22nd October 2020, under the theme “ Reimagining Economies: The Move Towards a Digital, Sustainable and Resilient Future.”

As the very first digital edition of the Annual Investment Meeting, AIM Digital will be the first mega digital event in the region to surmount the COVID -19 pandemic that will set a new benchmark for future virtual events in the UAE. It will utilize digital technology to create, showcase, and facilitate new investment opportunities for investors from different parts of the world, providing boundless possibilities across diverse sectors leading towards economic recovery, transformation, and sustainability.

To continue AIM’s mission of creating a roadmap to build a resilient future for the global economy despite the current pandemic, the three-day digital event will support and strengthen the investment environment and generate the most attractive and secure investment projects and opportunities for investors.

In this regard, His Excellency Abdullah bin Touq Al Marri, Minister of Economy, said: “The Annual Investment Meeting is an important global platform that brings together officials, experts, investors and major local, regional and international companies to exchange ideas and experiences and work together to develop the investment climate and link stakeholders to enhance development opportunities and come up with innovative solutions. The UAE has managed over the past years to consolidate its position as a pioneering and attractive investment destination for value-added projects, especially in the new economy sectors, and the country has also succeeded in developing its capabilities in planning and anticipating the future, and developing proactive solutions to enhance the resilience of its national economy in the face of global economic changes.

His Excellency added that the UAE government launched a comprehensive plan of 33 initiatives to support all economic sectors in the country and create a more flexible economic environment capable of generating diverse and sustainable opportunities, and encouraging investment in future sectors, especially digital transformation, advanced industries, applications of modern technology, research, development and innovation.” He said that the development of a digital model for a global platform for dialogue, such as the annual investment forum, is gaining great importance under the current circumstances and strengthens the country’s ability to review its future vision and promote the opportunities offered in its priority sectors to attract and attract investments to it through innovative means.

His Excellency Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and Small and Medium Enterprises, said: “The UAE continues its pioneering role as a hub for trade, investment development and business activities, whether in its local markets or at the regional and global levels, and is confirmed today by launching the first digital version of the Investment Forum. Its ability to adapt to the changes in the economic landscape and find innovative solutions to various challenges, such as those that we are witnessing today as a result of the spread of the Covid-19 pandemic, which highlighted the importance of adopting new methods in economic activity, stressing that the establishment of the forum hypothetically at this huge level with the participation of 170 countries represents a new success story that reflects the readiness of the country’s economic and trade system to rapidly shift towards digital activities and adopt a more competitive, resilient and sustainable economic model.

Al Falasi added that the Annual Investment Meeting has provided over the past years a pioneering platform to support emerging companies and small and medium enterprises. His Excellency explained by saying: “We will work through this year’s edition of AIM to continue supporting and encouraging entrepreneurs and owners of small and medium enterprises by providing them with vital channels for communication with their counterparts in other participating countries to acquire new ideas and knowledge, exchange experiences and attend relevant exhibitions, as well as to establish partnerships and open new markets for their products and services, and this would immediately reflect on their commercial success and their ability to continue and expand. ”stressing that the transition to the digital model this year It will allow for wider participation from different countries of the world and will thus increase opportunities for cooperation and growth for entrepreneurs.

“This year’s Annual Investment Meeting, in its first digital edtion of its kind, is being held under unusual circumstances that the global economy is going through that requires intensifying dialogue and creating new links that support commercial and investment activities in various world markets.”He explained thatthe event will focus on discussing the countries and institutions efforts to provide new solutions and measures that support sustainability, business continuity and flexibility in facing various challenges. said His Excellency Dr. Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade.

His Excellency added: “Through this year’s edition of AIM, we will make sure to allow businessmen and capital owners to meet and conclude strategic agreements and partnerships, and to open new and vital channels for work in various investment fields, explaining that the forum’s agenda for this year will be rich in sessions, dialogues and digital exhibitions. Over the course of three days, and expressing optimism that the outcomes of this session will contribute to creating more creative ideas, initiatives and qualitative projects that represent an added value to international efforts in enhancing the global economic climate and preparing it for the post-Covid-19 phase.

AIM’s unique digital exhibition will be participated by Ministries and Government Departments, International and Regional Organisations, Investment Promotion Agencies, Special Economic Zones, Private Equities, Angel Investors, Venture Capitalists, Banking & Financial Institutions, International Investment Institutions, Startups, Incubators and Special Programmes, SME Financing Institutions, Smart City Solution Providers, and Technology Providers, among others, from more than 170 countries, which means even more abundant opportunities for economic productivity and expansion.

“We are all aware that the global economy has been severely affected by the COVID-19 pandemic. However, this global outbreak must not cause economic paralysis and impede recovery but must serve as a stimulus to persistently look for opportunities to surmount the challenges. Technology is one of the tools available to us that we need to take advantage of to fight the impact of pandemic, which is why AIM Digital was conceived. It is indeed a major initiative that brings innovation and investment opportunities together in one virtual platform for investors to fuel economic resilience and transformation” said Mr. Dawood Al Shezawi, the Head of the Organizing Committee of the Annual Investment Meeting.


Diverse topics have been meticulously discussed such as Economic Fallout of Covid 19 on Female Founders, Accelerating Technologies during Time of Crisis, Ensuring Food Security & Sustainability against Pandemic: Innovation and Business Opportunities of Agriculture in SMEs, Strengthening the Global Partnership in International Trade during Pandemic Crisis, Post-Pandemic Cities: What Will They Look Like, Business Opportunities of Agriculture in SMEs, The Vision From Investors in The Middle East, Urban Mobility: Road To Recovery And The Effectiveness Of Attracting FDI in The Times Of Crisis, Smart Cities Of The Future Workshop, Challenges For Agribusiness in Latin America And The Vision From Investors in The Middle East. Additionally, AIM Digital continues to offer interactive investment activities 365 days of the year to support the global investment community.

AIM Digital Features

Placing the spotlight on AIM’s six pillars – Foreign Direct Investment, Foreign Portfolio Investment, Small and Medium-sized Enterprises, Startups, Future Cities, and One Belt, One Road, AIM Digital will showcase different features that will extensively boost investment opportunities in various sectors.

Pre-Conference Workshop: Conducted by renowned industry experts from across the globe, this series of interactive professional coaching sessions have been tailor-made to enrich the experience of its participants and prepare them in finding lucrative opportunities for investment.

Conference: A platform where expert insights, best practices, and ideal investment policies are shared with participants. Leaders and specialists from the investment community will lead the virtual discussions to explore relevant topics about each of the six pillars of AIM.

Exhibition: Participated by the best local and international exhibitors across the globe, the Exhibition features different countries, smart city solution providers, startup companies, and SMEs, with the ultimate goal of achieving economic growth for their respective country and region.

Digital Country Presentation: It unveils the world’s best investment destinations by featuring every country’s key economic and investment environment features digitally. A platform for municipalities, cities, and countries to promote investment opportunities at their location and highlight the potential of their sector to prospective investors.

Startups Virtual Pitch Competition: An opportunity to present business ideas to a diverse array of global investors on the lookout for the next big thing. The winners of the start-up virtual pitch competition will compete for the National Champions League. Individual startups may register for the Global Technopreneurs.

Conglomerate Presentations: A virtual line up of Large Multi-Industry Groups keen on showcasing their investment roadmaps and key sectors of interest to an impressive panel of AIM investment promotion agencies, SMEs and government officials enthusiastic about making sustainable investments in their respective countries.

Awards: Recognizing the outstanding contributions of Investment Promotion Agencies, SMEs and Start-ups in bolstering and securing investment for a particular location. Awards will be presented to various investments made to regions and countries that have resulted in significant economic growth.

Investors’ Hub: Held within a digitally secured environment, a virtual meeting where top investors will have an audience with official government representatives to cultivate the formation of investment partnerships and collaboration.

Regional Focus Sessions: Centered on three regional conversations that examine the economic landscapes of Africa, Asia and Latin America, the discussions will be an informed exploration of the regions’ risks, challenges and opportunities for growth that are waiting to be harnessed through regional cooperation.

Made in Series: This viable digital feature is open to all SMEs who wish to showcase their local products and services to an international platform. Being a part of the series could help the participating country to promote their locally manufactured products or services, present value proposition to a focus global audience, and network with potential global partners for future collaboration.

Investment Roundtables:The investment roundtable feature of AIM 2020 is a gathering of Ministers, Deputy Ministers and Heads of Investment Promotion Agencies (IPAs), Investors and Decision Makers. The main objective of this feature is to facilitate a platform for government decision makers to discuss with investment companies to create a feasible investment model matching government and investor requirements. At the end of the sessions, a feasible investment model shall be developed.

Networking Features: A medium to strengthen business relationships and serve to the expansion of business portfolios. Vast features are conveniently available and accessible for ease of communication and networking on the platform.

The Annual Investment Meeting also plans to expand its footprint across the economic landscape as it gears up for its upcoming hybrid edition which will take place on March 21 – 23 followed by its Mega edition during EXPO2020, the World’s Greatest Show. The Hybrid Edition will be primed to feature massive investment opportunities from more than 170 countries, securing the highest return of investments for investors across the globe.

Furthermore, the Annual Investment Meeting is also delighted to launch its official e-magazine, Global Catalyst, which will serve as the global investment community’s no.1 digital source of the latest news, feature articles on trending topics, and critical analysis on fundamental issues affecting the investment environment, serving as a powerful catalyst for global economic growth. The Global Catalyst, is a quarterly digital publication that provides a captivating blend of news and features about the investment environment, as well as thorough analyses and research studies on major issues concerning the global economy. It also features success stories and in-depth interviews from prominent personalities in the global investment community to offer invaluable insights. In its first issue, Global Catalyst will give emphasis on its theme, “Rebooting the Future of Global Economy” which sparks the revitalising idea of starting anew, finding innovative methods and strategies, and building new perspectives in relation to the global economy.

Acknowledging the shift to the digital landscape and integrating technological advancements assists in developing smart, digital and sustainable nations as AIM Digital generates boundless possibilities towards economic recovery, transformation, and sustainability. 

For more information on AIM Digital, visit www.aimcongress.com

About the Annual Investment Meeting

The Annual Investment Meeting (AIM) is an initiative of the UAE Ministry of Economy, held under the patronage of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, and Ruler of Dubai. AIM is the world’s leading investment platform with over 16,000 participants coming from more than 140 countries. Over 400 exhibitors and co-exhibitors, 60+ high-level dignitaries, 150+ investment specialists and experts have participated in AIM 2019.

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Human Rights

World Bank-UNICEF: 1 in 6 children lives in extreme poverty

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Children play outside a metal polishing workshop in a slum in Uttar Pradesh, India. © UNICEF/Niklas Halle'n

An estimated 1 in 6 children – or 356 million globally – lived in extreme poverty before the pandemic, and this is set to worsen significantly, according to a new World Bank Group-UNICEF analysis released today.

Global Estimate of Children in Monetary Poverty: An Update notes that Sub-Saharan Africa – with limited social safety nets – accounts for two-thirds of children living in households that struggle to survive on an average of $1.90 a day or less per person – the international measure for extreme poverty. South Asia accounts for nearly a fifth of these children.

The analysis shows that the number of children living in extreme poverty decreased moderately by 29 million between 2013 and 2017. However, UNICEF and the World Bank Group warn that any progress made in recent years is concerningly slow-paced, unequally distributed, and at risk due to the economic impact of the COVID-19 pandemic.

“1 in 6 children living in extreme poverty is 1 in 6 children struggling to survive,” said Sanjay Wijesekera, UNICEF Director of Programmes. “These numbers alone should shock anyone. And the scale and depth of what we know about the financial hardships brought on by the pandemic are only set to make matters far worse. Governments urgently need a children’s recovery plan to prevent countless more children and their families from reaching levels of poverty unseen for many, many years.”

Although children make up around a third of the global population, around half of the extreme poor are children. Children are more than twice as likely to be extremely poor as adults (17.5 percent of children vs. 7.9 percent of adults). The youngest children are the worst off – nearly 20 percent of all children below the age of 5 in the developing world live in extremely poor households.

“The fact that one in six children were living in extreme poverty and that 50% of the global extreme poor were children even prior to the COVID-19 pandemic is of grave concern to us all,” said Carolina Sánchez-Páramo, Global Director of Poverty and Equity for the World Bank. “Extreme poverty deprives hundreds of millions of children of the opportunity to reach their potential, in terms of physical and cognitive development, and threatens their ability to get good jobs in adulthood. In the wake of the massive economic disruption caused by the pandemic, it is more crucial than ever that governments support poor households with children now and rebuild their human capital during the recovery.” 

Extreme poverty among children has not fallen as much as it has for adults; a larger share of the global poor were children in 2017, compared with that in 2013. All regions of the world experienced varying levels of decline in extreme poverty among children, apart from Sub-Saharan Africa, which saw a 64 million increase in the absolute number of children struggling to survive on $1.90 a day, from 170 million in 2013 to 234 million in 2017.

Child poverty is more prevalent in fragile and conflict-affected countries, where more than 40 percent of children live in extremely poor households, compared to nearly 15 percent of children in other countries, the analysis says. The analysis also notes that more than 70 percent of children in extreme poverty live in a household where the head of the house works in agriculture.

The ongoing COVID-19 crisis will continue to disproportionately impact children, women and girls, threatening to reverse hard-won gains towards gender equality. Social protection measures have a crucial role to play to mitigate coping mechanisms by the poor and vulnerable in both the immediate COVID-19 response as well as the longer-term recovery.

World Bank and UNICEF data suggest that most countries have responded to the crisis by expanding social protection programs, particularly cash transfers. Cash transfers provide a platform for longer-term investments in human capital. Particularly when combined with other child development measures and coupled with high-quality social service provision, cash transfers have been shown to address both monetary and multidimensional poverty and improve children’s health, nutrition, cognitive and non-cognitive outcomes.

However, many of the responses are short-term and not adequate to respond to the size and expected long-term nature of the recovery. It is more important than ever for governments to scale up and adjust their social protection systems and programs to prepare for future shocks. This includes innovations for financial sustainability, strengthening legal and institutional frameworks, protecting human capital, expanding child and family benefits for the long term as well as investing in family-friendly policies, such as paid parental leave and quality child care for all.

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Both sides obliged to ‘spare and protect civilians’ over Nagorno-Karabakh fighting

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The UN Secretary-General on Sunday condemned “all attacks on populated areas” in and around the Nagorno-Karabakh zone of conflict, as Armenia and Azerbaijan reportedly accused each other of violating the latest humanitarian ceasefire agreement.

In a statement released by his Spokesperson, António Guterres described the “tragic loss of civilian lives, including children, from the latest reported strike on 16 October” on Azerbaijan’s second largest city of Ganja, as “totally unacceptable”.

The UN chief reiterated that “indiscriminate attacks on populated areas anywhere, including in Stepanakert/Khankendi and other localities in and around the immediate Nagorno-Karabakh zone of conflict”, were likewise totally unacceptable. 

Both sides agreed a truce to begin at midnight on Saturday, local time, reportedly following interventions by Russia, and other leaders of the so-called Minsk Group of the Conference on Security and Cooperation in Europe (OSCE), which was created in 1992, to encourage a peaceful resolution to the Nagorno-Karabakh conflict, between the two nations at the centre of the conflict.

The group is co-chaired by the United States, France and Russia, and its permanent members are Belarus, Germany, Italy, Sweden, Finland, Turkey, Armenia and Azerbaijan.

Deep regret that fighting continues

“The Secretary-General deeply regrets that the sides have continuously ignored the repeated calls of the international community to immediately stop the fighting”, said the statement released mid-morning on Sunday, New York time.

Mr. Guterres also “underscored again in his latest calls with the Foreign Ministers of Armenia and Azerbaijan, both sides have the obligation under international humanitarian law to take constant care to spare and protect civilians and civilian infrastructure in the conduct of military operations. and protect civilians and civilian infrastructure.”

“The Secretary-General notes the latest announcement on the start of the humanitarian truce on 18 October and expects both parties to fully abide by this commitment and resume substantive negotiations without delay under the auspices of the OSCE Minsk Group Co-Chairs”, the statement concluded. 

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Environment

New State of Nature report points to persisting pressures on Europe’s nature

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European Commission published its latest assessment of the state of nature in the European Union. It provides a comprehensive overview of the situation of Europe’s most vulnerable species and habitats protected under EU nature laws

Decline of protected habitats and species still continues, caused mostly by intensive agriculture, urbanisation, unsustainable forestry activities and changes to freshwater habitats. Pollution of air, water and soil also impacts habitats, as well as climate change, over-exploitation of animals through illegal harvesting and untenable hunting and fishing. If not addressed, this decline will inevitably result in the continued erosion of our biodiversity and the vital services it provides, putting human health and prosperity at risk.

The report underlines the clear need for action if we are to have any serious chance of putting Europe’s biodiversity on a path to recovery by 2030, as envisaged in the new EU Biodiversity Strategy. In this regard, the full implementation of the goals and targets proposed in the Strategy, as well as in the Farm to Fork Strategy will be essential.

The assessment – based on a more detailed technical report of the European Environment Agency – shows that while there are protected species and habitats that are managing to hold the line despite being subject to major pressure, the majority have poor or bad status at EU level, with some showing continued deteriorating trends.

Among species, birds that are closely associated with agriculture continue to decline, while freshwater fish have the highest proportion of bad conservation status (38 %) primarily due to changes to waterbodies and water-flow and hydropower installations. Among habitats, only 15% of them are in good condition. Restoration of peatlands and other wetlands can deliver nature benefits, but also significantly contribute to addressing climate change, creating employment opportunities in rural and peripheral areas.

The report also shows that targeted conservation action brings results. The Iberian lynx, the forest reindeer and the otter, each of which has been targeted by major conservation projects, are now recovering. Initiatives under the EU LIFE programme, dedicated agri-environment schemes under the common agricultural policy, and the Natura 2000 network with its 27,000 sites continue to have a positive influence, but this needs to be scaled up considerably. 

Commissioner for the Environment, Oceans and Fisheries Virginijus Sinkevičius said: “This State of Nature assessment is the most comprehensive health check of nature ever undertaken in the EU. It shows, yet again, very clearly that we are losing our vital life support system. As much as 81 % of protected habitats are in poor condition in the EU. We urgently need to deliver on the commitments in the new EU Biodiversity Strategy to reverse this decline for the benefit of nature, people, climate and the economy.”

Hans Bruyninckx, Executive Director of the European Environment Agency, said: “Our assessment shows that safeguarding the health and resilience of Europe’s nature, and people’s well-being, requires fundamental changes to the way we produce and consume food, manage and use forests, and build cities. These efforts need to be coupled with better implementation and enforcement of conservation policies, a focus on nature restoration, as well as increasingly ambitious climate action, especially in the transport and energy sector.”

Background

Every six years, EU Member States report on the conservation status and trends of species and habitat types protected under the EU Directives. The present reporting cycle is the largest and most extensive data-gathering exercise ever undertaken on the state of Europe’s nature. The report provides an analysis of data on status and trends related to all wild bird species occurring in the EU (460 species), 233 habitat types and almost 1400 other wild plants and animals of European interest.

This knowledge will guide EU’s action on biodiversity in the coming years, providing a crucial baseline for monitoring progress towards achieving the targets of the new EU Biodiversity Strategy to 2030.

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