Forum to highlight investors’ roles in applying Industry 4.0 to FDI

Business Bureau, Gulf Today

In 2017, the Sharjah FDI Forum brought 4IR to the centre stage of discussions, informing regional and global investors, business leaders and policy makers on how investment cultures worldwide will undergo a revolution faced by the proliferation of rapidly advanced technologies like AI, robotics, IoT and blockchain.

In its upcoming edition on November 11 – 12, the forum takes the conversation further by turning the spotlight on how Industry 4.0’s technology-driven outputs can be harnessed by investors by capitalising on the lucrative investment opportunities in the sector, which will not just ensure business profitability and high Return On Investment (ROI), but also fulfil important socioeconomic goals like sustainability, preservation of market resources, increasing job opportunities, facilitating people’s access to quality healthcare, and more – in order to create an inclusive, human-centered future.

The forum creates an opportunity to look beyond just technology “It’s been reiterated by the Global Competitiveness Report 2019 that those countries with a holistic approach to socio-economic challenges have set themselves to get ahead in the race to the frontier,” said Marwan Bin Jassim Al Sarkal, Executive Chairman of Sharjah Investment and Development Authority (Shurooq).

He added: “This revolution is not just about drones, self-driving cars or complete automation. Studies have shown that productivity gains from ‘smart manufacturing’, ‘smart factories’, the application of ‘industrial IoT’, in one industry can lower production costs in others. This opens up new employment opportunities across sectors – and this is only one example. The real opportunity is to look beyond technology, and find ways to allow governments, businesses and people the greatest number of opportunities to benefit themselves and their surroundings.”

He pointed out that Sharjah FDI Forum will convene top-tier government leaders, financial and digital technology experts, and investment consultants from almost 10 different sectors to share thought leadership and insights on how businesses can position themselves, maximise returns and champion sustainable development in the age of Industry 4.0.

Al Sarkal continued: “Looking ahead at the fulfilment of Sustainable Development Goals by 2030, we definitely see a collaborative approach adopted by governments worldwide based technology-driven strategies in business, education, governance, employment and community building doing the job.” Sustainable benefits of technology revolution at the heart of Sharjah’s FDI priorities Mohamed Juma Al Musharrkh, CEO of the Sharjah FDI Office (Invest in Sharjah), said the forum will seek to set the record straight in light of the ongoing debate on the fate of jobs, highlight the importance of responsive economic reforms, strong commitments and collaboration between government, business and industry stakeholders to optimise supply chains and logistics by leveraging latest technologies, analyse fintech and the sustainability of digital currency, and discuss how to educate and re-skill the workforce for our digital future.

“These discussions are at the heart of Sharjah’s investment strategy. We are focused on building a knowledge economy characterised by sustainable development and value added investments coming into the healthcare, education, infrastructure and information technology sectors. The RoI on such investment will have added benefits for our economy and also support the achievement of the UN SDGs”, he added.

The fifth edition of Sharjah FDI Forum, is organised by Sharjah FDI Office (invest in Sharjah), an affiliate of the Sharjah Investment and Development Authority (Shurooq), under the patronage of His Highness Sheikh Dr. Sultan Bin Muhammad Al Qasimi, Member of the Supreme Council and Ruler of Sharjah, November 11 – 12 at the Al Jawaher Reception and Convention Centre (JRCC) in Sharjah. The two-day event titled ‘Shaping the Future of Economies,’ will host panel discussions and workshops to assess future trends shaping regional investment behaviour, and highlight the need for the development of financial, technological and human capital to maintain FDI momentum and the achievement of SDGs 2030.

The Sharjah FDI Forum has announced Engineer Sultan Bin Saeed Al Mansoori, UAE Minister of Economy, as a keynote speaker at the inauguration ceremony of its 5th edition on November 11, and is slated to bring together more than 40 speakers and more than 1,000 participants and industry experts representing a number of local and global financial, economic and business institutions.

In addition to Minister Al Mansoori, Juma Mohammed Al Kait, Assistant Under-Secretary Foreign Trade Affairs, Ministry of Economy; Marwan Bin Jassim Al Sarkal, Executive Chairman of Shurooq; Abdulla Nasser Lootah, Director General of The Federal Competitiveness and Statistics Authority; Eng. Zaid Alqufaidi, Managing Director Retail, Emirates National Oil Company (ENOC); Hind Al Mualla, Chief of Creativity, Happiness & Innovation, Knowledge and Human Development Authority (KHDA); and Hussain Mohammed Al Mahmoudi, CEO of the Sharjah Research, Technology and Innovation Park (RTI), will take part in the event.