- The 12th edition of The Annual Investment Meeting (AIM), highlighted investment hotspots in various parts of the world.
- The sessions focused on Namibia, ASEAN and the Russia region as well as new investment destinations such as Moscow and Armenia.
- Experts highlighted how the increasing cooperation is leading to a favourable investment climate and opening up new opportunities for businesses.
The 12th edition of the the Annual Investment Meeting (AIM) has highlighted Namibia among other top investment hotspots internationally. AIM, which was hosted in Abu Dhabi, UAE, featured a series of regional and destination forums demonstrating available opportunities in various parts of the world.
In Africa, a special focus was given to Namibia. The session highlighted the southern African country’s potential as an investment hotspot, citing its $13 billion GDP reported in 2022. In addition, the country is rich in oil and gas reserves. Further, Namibia is deploying large-scale projects in renewable energy, particularly green hydrogen. The country’s impressive tourism landscape, emerging MICE sector, and opportunities in agriculture were also under focus.
“Apart from the energy sector and Namibia’s tourism landscape, featuring breathtaking landscapes, diverse cultures, and rich wildlife, agriculture is another important sector in Namibia. Around 70 percent of the population depends directly or indirectly on agriculture for their livelihoods with the country exporting high-value fruits to key markets such as the UAE, UK, and EU market.
“Investors can find investment opportunities across the entire value chain of both the livestock and horticulture industries.” Chief Executive Officer of Namibia Investment Promotion and Development Board (NIPDB) Nangula Nelulu Uaandja said.
The Association of Southeast Asian Nations (ASEAN) region
One of the key regions in focus was the The Association of Southeast Asian Nations (ASEAN) region. Consisting of 10 economies, the ASEAN region has been among the fastest-growing zones in 2022. Economic experts expect the bloc to remain on a growth trajectory this year, too.
With varying economic sizes, diverse markets, and a fast-moving population, Southeast Asia is an investment hotspot globally.
This session highlighted how the ASEAN Business Advisory Council (ASEAN-BAC). Under Indonesia’s Chairmanship, ASEAN has set its priority, agenda, and legacy for regional policy reforms, focusing on digital transformation. It also plans to focus on sustainable development, health resilience, trade and investment facilitation, and food security.
This session featured a number of speakers, including M. Arsjad Rasjid P.M., Chairman of ASEAN Business Advisory Council and Indonesian Chamber of Commerce and Industry (KADIN) focusing on growth of the ASEAN region.
Experts discussed how ASEAN Centrality aims to create a more inclusive future for the Southeast Asian region. This will be by leveraging its diverse markets, and rising population. Recent developments in sectors such as sustainable energy and high-tech industry are also expected to drive growth.
With the region expected to remain among the fastest growing in 2023, the session focused on strengthening cooperation. This would spur development in the upcoming years, and open opportunities for global investors to tap into.
Economic ties between Russia and the Middle East
Another region in focus was mineral rich Russia. In the session, experts and stakeholders from Russia and the Middle East discussed the growing trade and economic ties between the two regions.
Experts highlighted how the increasing cooperation is leading to a favourable investment climate. The warm ties are also opening up new opportunities for businesses to expand their operations. Further, investors from the two zones are now liaising especially on large joint projects.
During the session, the specific investment hotspots of cooperation that the Middle East countries are interested in came under focus. This included investments, and the development of high-tech sectors of the economy. Urban development, healthcare, and social and cultural sectors were also part of the agenda. Participants explored the potential for development in these areas by working together to create mutually beneficial projects.
The discussion also focused on the new geopolitical challenges facing the region. In particular, experts explored how they could affect the development of relations between Russia and the Middle East.
The experts highlighted that while these challenges could be seen as a barrier, they could also present an opportunity. This way, the two regions could work together to develop successful joint business initiatives.
The Moscow Destination Forum
On the other hand, the Moscow Destination Forum showcased the city’s status as one of the world’s largest urban economies. Moscow invited Middle East investors promising a comfortable business environment and support for their investments.
In addition, the event also highlighted The Republic of Armenia as another investment hotspot. It emphasized the Eastern European country’s location as a vital trade route connecting Europe and Asia. The country said it offers easy access to different parts of the world.
The Armenian government is taking considerable steps to improve the business climate and create favourable conditions for investments. Some of the target industries are energy, infrastructure, technology, agriculture, food processing, tourism, and textiles.
The country’s access to large export markets with preferential conditions were also highlighted. It also focused on how compared to the period between Year 2021 and Year 2022, the economic activity growth has increased by 14.2 percent.