A number of global industry leaders agreed at the Multilateral Industrial Policy Forum, which kicked off in Riyadh on Wednesday, on the need for international cooperation between governments to advance the industrial system and address the challenges facing the sector, stressing that the event explores new forms of international partnerships to formulate policies that ensure a future based on innovation and sustainability.<\/p>\n
The Saudi capital hosted the second edition of the Multilateral Industrial Policy Forum (MIPF), organized by the Ministry of Industry and Mineral Resources in partnership with the United Nations Industrial Development Organization (UNIDO), with the attendance of ministers, local and international officials, and a group of prominent figures and decision-makers from around the world.<\/p>\n
Minister of Industry and Mineral Resources Bandar Al-Khorayef stressed the importance of the forum in enhancing international dialogue and cooperation in the field of industrial policies, especially in light of the challenges and opportunities facing the world today, pointing to the need to combine efforts to build an influential industrial future based on innovation, sustainability, flexibility and international cooperation, in addition to enhancing comprehensive and practical dialogue to drive transformational changes in shaping global industrial policies.<\/p>\n
Supply Chain<\/p>\n
Al-Khorayef pointed out that the world is going through an important transformation in the global economic and industrial landscape, as modern technology offers unprecedented opportunities for growth, while at the same time, the environment faces major challenges, including increasing geopolitics and geographical and economic divisions.<\/p>\n
The Minister of Industry and Mineral Resources explained that the event provides a great opportunity to explore new forms of partnerships, align policies, enhance synergies to complement capabilities, create a more flexible supply chain, access market opportunities, distribute benefits fairly, and benefit from best practices to address common challenges and build a stronger industrial environment.<\/p>\n
He pointed out that “Vision 2030” aims to achieve economic transformation by diversifying sources of income and developing non-oil sectors, as this forum represents a vital step towards achieving the country’s aspirations by enhancing the role of industry as a major driver of development, in addition to the Kingdom’s vast mineral resources that play a crucial role in driving economic diversification.<\/p>\n
According to Al-Khorayef, while the Kingdom seeks to build its strong industrial base, it also seeks to create opportunities for international cooperation; Which brings growth and prosperity to other countries, in addition to addressing global challenges, such as: digitization, supply chain and energy transformation.<\/p>\n
Energy Efficiency<\/p>\n
For his part, the Saudi Minister of Energy, Prince Abdulaziz bin Salman bin Abdulaziz, stressed that global cooperation is the key to solving the challenges of the sector. Ensuring energy efficiency and security is also vital for the resilience of industries and increasing their competitiveness in the global economy.<\/p>\n
The Minister of Energy added, during the forum, that energy is the basis for industrial growth, and its strategy must also be included in discussions within industrial events.<\/p>\n
Prince Abdulaziz bin Salman continued, that the global economy is currently facing many major challenges, most notably the supply chain, and that the least developed countries will be the most affected.<\/p>\n
Prince Abdulaziz bin Salman touched on the need to exploit all types of energy consciously, taking into account the issue of climate change and reducing emissions that cause an increase in greenhouse gases.<\/p>\n
He added that the Kingdom has presented policies to improve energy efficiency that have enhanced use, and that this event came to search for solutions to challenges and create an advanced industry with all support, and “we must all work to overcome obstacles through the strategies in place, and countries must do all the work for this goal,” stressing that the Kingdom is moving in this direction.<\/p>\n
The Minister explained the Kingdom’s important role in energy, as it is making a lot of effort to reduce emissions, stressing that “the world must modernize and develop energy systems.”<\/p>\n
Developing countries<\/p>\n
For his part, the Director-General of the United Nations Industrial Development Organization (UNIDO), Gerd M\u00fcller, stated that the world is facing enormous challenges and major global crises, indicating that industry is an essential part of the solution to confront them.<\/p>\n
According to the Director-General of the United Nations Industrial Development Organization, there is a need for huge investments, over the next decade, in infrastructure, technology and education, so that developing countries need to reduce debt burdens and improve access.<\/p>\n
He pointed to the Kingdom’s role in building international cooperation to advance the future of sustainable manufacturing, and that it realizes an innovative concept of solutions, explaining: “We face enormous challenges and major global crises together. We must not forget that the poorest people are the most affected by all of this, and the International Labor Organization estimates that the pandemic alone has lost 50 million jobs worldwide, not including the consequences of wars and climate change.<\/p>\n
He spoke about five major trends that will shape the world by 2050, as the population grows by 80 million people, most of them in developing countries.<\/p>\n
The population of Africa will double, and therefore hundreds of millions of jobs are needed in developing countries by 2050, for the growing youth population.<\/p>\n
Therefore, M\u00fcller believes that global demand for food will increase by 50 percent in the next 13 years, and global demand for energy will increase by 70 percent by 2050, and this is not only possible through renewable energy, as scarce resources, and basic resources, especially water and fertile soil, are becoming increasingly scarce.<\/p>\n
He continued: \u201cIndustry is an essential part of the solution. To achieve our sustainable development goals, to combat poverty, we need economic growth of at least 70 percent annually in developing countries. \u201cFighting and alleviating poverty also provides an answer to the challenges of population growth and increasing food and energy inequality,\u201d Muller added.<\/p>\n
Huge investments are needed over the next decade in infrastructure, technology and education, so that these developing countries need debt relief and improved access, stressing that without investment there is no industrialization, and therefore no development; therefore, there is an urgent need for economic growth of at least 7 percent annually in developing countries to meet job opportunities, provide access to energy for all, and most importantly, find innovative solutions to reduce emissions.<\/p>","protected":false},"excerpt":{"rendered":"
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