Guterres calls for delivering $500bn annual investment for developing countries at UNCTAD’s 8th WIF

UNCTAD’s 8th World Investment Forum (WIF) opened on 16th October in Abu Dhabi, focusing on the investment challenges faced by the world's developing countries amid today's global crises.

UN Secretary-General António Guterres, in a statement, urged participants – heads of state, business leaders, sustainable stock exchanges, sovereign wealth funds and experts – to put the Sustainable Development Goals (SDGs) Stimulus Package into effect and work towards delivering $500 billion annual investment for developing countries.

He also called on governments to establish a fair price on carbon and companies to implement credible net-zero plans, aligning with the recommendations of the High-Level Expert Group on the Net-Zero Emissions Commitments of Non-State Entities.

With the theme "Investing in Sustainable Development," the forum strategically aligns with the upcoming global climate change talks at COP28. A dedicated track within the forum will focus on advancing climate finance and investment, providing a crucial platform for policymakers to find solutions and support global climate negotiations.

Supported by the Ministry of Economy and Abu Dhabi Department of Economic Development (ADDED, the lead partner, the 2023 World Investment Forum was officially opened in Abu Dhabi in the presence of heads of state, Rebeca Grynspan, Secretary-General of UNCTAD, eminent guests, and over 7,000 senior government officials, decision-makers, business leaders, and other investment stakeholders from 160 countries. WIF will run until October 20th at the Abu Dhabi National Exhibition Centre (ADNEC).

WAM