‘New Economy’ takes centre stage at Investopia annual conference

The Investopia 2023 hosted a session, titled “Mobilising New Economies”, which brought together government officials, experts and thought leaders from various industries to discuss the latest trends and opportunities in the fast-evolving landscape of the New Economy.

The panel discussion hosted Omar Bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Remote Work Applications; Val Miftakhov, Founder & CEO, Annex Investments; Jane Poynter, Founder, co-CEO &CXO, Space Perspectives; and Kyle Clark, CEO, BETA Technologies.

Al Olama noted that while automation of port operations can be achieved quickly, autonomous cars require more careful consideration of infrastructure, mapping, and driving trends. The UAE’s approach is to provide opportunities for everyone who wants to deploy a pilot, review the impact of the model in six months, and make a decision to continue or stop.

For his part, the CEO of BETA Technologies shared his vision for electric cargo and logistics in the UAE, highlighting the use of electric aircraft that produce zero operational emissions.

Meanwhile, Miftakhov emphasised the potential of hydrogen as a clean fuel for aviation, particularly for large commercial aircraft. He added that hydrogen was an easy fuel to build for aviation and had the potential to lead to a significant transition in the next couple of decades.

Poynter suggested that infrastructure needed for space tourism may pose a challenge, but there is a significant opportunity for growth in the field over the next decade.

The 2023 edition of Investopia focuses on the theme “Envisioning Opportunities in Times of Change” and three sub-themes: Envisioning Opportunities in Today’s Economy, The Future of the Wealth of Nations, and Growth Opportunities in Times of Decarbonisation. The conference this year includes 35 sessions and roundtables, and brings together more than 2,000 participants like investors, government officials, thought leaders and entrepreneurs, from more than 40 countries.

Meanwhile, experts and thought leaders from diverse industries recently gathered for a session titled “Growth Opportunities in Today’s Economy” as part of Investopia 2023 annual conference. The panelists, including Marc Antaki, head of Portfolio Strategy at Mubadala, Alain Papiasse, Chairman of Corporate and Institutional Banking BNP Paribas, Stéphane Monier, Chief Investment Officer at Lombard Odier, and Evan Siddall, CEO of Alberta Investment Management Corporation (AIMco), shared their insights on identifying growth opportunities in the fast-evolving landscape of the ‘New Economy.’

Antaki emphasised the importance of identifying priorities and opportunities based on global trends, with Mubadala’s vision for the next 5-10 years centering around emerging markets, new technologies, climate agendas, and demographics. Papiasse highlighted the crucial role of central banks in combating inflation by increasing interest rates and reducing liquidity, while prioritising financing secure sectors such as energy transition and the tech industry. Monier attributed inflation to accommodative monetary policies and supply chain disruptions and emphasized the need for policymakers to employ monetary policy measures and leverage automation technologies.

AIMco’s CEO, Evan Siddall, discussed the firm’s plans to diversify its portfolio and explore new markets in Asia, noting that the company has historically been too domestically focused on its investments. The firm is now evaluating opportunities for geographical diversification, with a particular focus on new markets in Asia. Additionally, AIMCO is exploring the possibility of opening an office in Abu Dhabi to expand its global reach.

Separately, at the Investopia 2023 Conference, Helal Al Marri, Director-General of the Dubai Department of Economy and Tourism, discussed the strategic vision for the next decade known as D33. The vision includes various initiatives and strategies to create a clear path for the future of Dubai’s economy, including partnerships between the public and private sectors in key areas such as talent, ESG, finance, technology, and manufacturing.

Al Marri also addressed the significance of digital currencies, stating that crypto and digital currencies were just one of several new sectors Dubai was exploring, along with Web 3.0 and blockchain technologies.

In addition, Al Marri discussed the impact of regulations and the importance of suitable regulations to accelerate growth in industries. He also touched on the IPO pipeline for Dubai in 2023, stating that getting governance in place was crucial to bring confidence to the market.

The strategic vision of D33 is designed to create a clear roadmap for Dubai’s future growth and development. The focus on partnerships, key sectors, suitable regulations, and the resilience of the UAE to economic pressures bodes well for the future of Dubai’s economy.

The Investopia 2023 Conference focused on the theme “Envisioning Opportunities in Times of Change” and included three sub-themes: Envisioning Opportunities in Today’s Economy, The Future of the Wealth of Nations, and Growth Opportunities in Times of Decarbonisation. The conference brought together more than 2,000 participants, including investors, government officials, thought leaders, and entrepreneurs, from over 40 countries.

WAM