By Abubakarr Bah, Information Attaché, Saudi Arabia.
Sierra Leone’s Deputy Minister of Trade and Industry, Ms. Fatmata Kargbo has participated in the second edition of the Multilateral Industrial Policy Forum (MIPF) which was held in Riyadh, Kingdom of Saudi Arabia, between the 23rd and 24th October, 2024.
The two-day forum which was hosted by the Saudi Ministry of Trade and Mineral Resources in partnership with the United Nations Industrial Development Organization (UNIDO) aimed to supporting the development of the global industrial sector, by formulating effective and innovative policies to address the current global challenges and trends.
The event held under the theme “Transforming Challenges into Sustainable Solutions through Industrial Policies”, was attended by ministers, CEOs, industry experts, and policymakers from around the world, to discuss industrial policy development. The two-day sessions focused on addressing three key themes: Artificial Intelligence (AI), Digitalization and Automation in Manufacturing.
Madam Kargbo described the forum as significant and timely as it gave her the opportunity “to explore ways to enhance industrial cooperation, network with development partners”, adding that her interactions with CEOs, industry experts, and policymakers from around the world is expected “to unlock development opportunities which complements with the vision of His Excellency’s President Dr. Julius Maada Bio’s Big Five Game Changers: FEED SALONE, Human Capital Development, Youth Empowerment, Revamping the Public Service Architecture and achieving Sustained Economic Growth through Technology and Infrastructure.”
In his opening remarks to inaugurate the event on Wednesday, His Excellency Bandar Alkhoroyef, the Minister of Industry and Mineral Resources of the Kingdom of Saudi Arabia, said that the forum is important because it fosters dialogue and international cooperation in setting industrial policies, especially now, amid global challenges and opportunities.
He emphasized the need for collective efforts to build an “influential industrial future based on innovation, sustainability, resilience, and international collaboration,” and the role inclusive, practical discussions play in driving transformative changes and shaping global industrial policies.
Alkhoroyef said that the global economic and industrial landscape is undergoing a critical transformation, with modern technologies offering “unprecedented opportunities for industrial growth,” but also facing major challenges, including growing geopolitical tensions and geographical and economic divides.
He said that the forum is an “excellent opportunity to explore new forms of partnerships, align policies, and enhance synergies to complement each other’s capabilities, create more resilient supply chains, increase access to market opportunities, distribute benefits fairly, and adopt the best practices to address challenges while building a stronger industrial environment.”
He also stressed that while the Kingdom strives to build a robust industrial base, it also seeks to create opportunities for international cooperation, foster growth and prosperity in other nations, and address global challenges such as digitalization, supply chain issues, and energy transition.
MIPF was established by UNIDO in 2021 in response to Member States’ calls to expand and scale up the provision of the organization’s industrial policy advisory services with the goal of stimulating discussions on how industrial policies can best be leveraged to promote productivity and growth; strengthen resilience and environmental sustainability, and address societal challenges.
For more enquiries:
information.attache@sa.slembassy.gov.sl
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