The World Government Summit (WGS) 2022 has positioned itself as a unique worldwide platform for shaping the future of governments and finding answers to future concerns by featuring the global agenda of decisionmakers.
This year’s summit has brought together 190 countries, over 500 speakers, and 4,000 participants worldwide to discuss the future of governments in over 110 interactive and dialogue main discussions.
The summit’s topics this year focused on policies that drive progress and government development, designing the future of healthcare systems, sustainability for the next decade, accelerating global economic recovery, future technology, building future cities, the future of educational systems and jobs, enabling social resilience, and other future topics.
They also included developing proactive policies, strategies, and projects that incorporate smart solutions, artificial intelligence applications, implementing best sustainable development practices, and achieving rapid recovery from the effects of the pandemic.
Investopia shapes future economy
The first edition of the Investopia Investment Summit was inaugurated, as part of the WGS activities, to strengthen global collaborations to enhance the economic and investment sectors.
According to the Minister of Economics Abdullah bin Touq Al Marri, the country’s future vision considering global challenges is embodied in this summit, which is a cornerstone in building its future economy based on employing the latest technologies in all required fields.
The UAE’s Minister of Culture and Youth Noura bint Mohammed Al Kaabi joined Majid Al Futtaim Holding CEO Alain Bejjani, Anghami Cofounder and Chief Technology Officer Elie Habib, Chalhoub Group President and CEO Patrick Shalhoub, and Metacurio founder and CEO Sophie Watts in a keynote session titled Investing in Creative Industries.
Speakers at this session emphasized the importance of governments focusing on rebuilding creative economies, pointing out that the pace of progress in the creative industries was faster than the global economy.
The Leaders of Investment and Change session discussed the importance of women’s roles in the future economy and the need to empower female investors to become entrepreneurs and small businesses financiers.
Participants in the session From Healthcare to Health Technology also discussed technological advancements’ critical role in improving community health, increasing global access to healthcare services, and benefitting from scientific and technological advances.
The participants in the session Sustainable Finance Leading the Global Transformation discussed the latest trends shaping the future of sustainable finance and green investment, and how to develop new sectors and growth opportunities that provide more opportunities for small and medium emerging companies and entrepreneurs.
The summit also discussed the future of other economic sectors, including the impact of the Metaverse on the future of global investments, the importance of leadership in climate change, and the solutions provided by agricultural technology.
Women’s forum
The Women in Government Forum attracted a wide range of prominent figures and women leaders in economic, political, development, and cultural decision-making.
The participants discussed the importance of international cooperation in enhancing the role of women in leading government work and the role of women leaders in motivating and inspiring the next generation of girls and women to participate in governmental work actively.
The UAE’s Minister of State for Governmental Development and the Future Ohood Al Roumi, who is also Vice-President of the World Government Summit, opened the forum with a speech titled Women in Government and Creating the Future, in which she evaluated the prospects for the role of women in government.
“We are not here to advocate for women because they are women, but because of their effective contribution to a better and balanced future. So, it is not a gender discourse; it is a public value imperative,” she said.
Al Roumi added: “In the UAE, the share of female members of parliament has increased from 22 percent to 50 percent. In addition, women ministers represent 27.5 percent of the cabinet with portfolios such as climate change, advanced technology, education, community development, culture, and international cooperation.”
Calls to empower youth
Within the first session of the Arab Youth Leaders Meeting, convened by the Arab Youth Center, policy and education leaders called for the empowerment of young citizens.
Policy experts highlighted vital gaps and recommendations to support the professional development of young Arabs and discussed the challenges facing young people.
Ali Qassim Al Lawati, President of the Royal Academy of Administration in Oman, said: “The fourth industrial revolution is not technical or political. It is social, and young people are driving it.”
He went on to add: “They are more tech-savvy than governments, but we cannot address the challenge of developing young people with skills training alone. The new generation is digitally connected but socially disconnected, and in today’s digital economy, character traits are more important than skills.”
For his part, Abdullah Al Ghamdi, CEO of the Education for Employment in Saudi Arabia, emphasized the need to engage young people in developing the policies that will impact them.
He also highlighted the importance of practical opportunities, saying: “Academia is important, but we need to provide enablers for youth to participate in the workforce, to practice, to make mistakes, to volunteer, to be innovative.”
Climate change and sustainability
One of the most prominent themes of the World Government Summit sessions is climate change and sustainability.
According to the UAE’s Minister of Industry and Advanced Technology Sultan bin Ahmed Al Jaber, who is also the UAE Special Envoy for Climate Change, the summit was an excellent forum for discussing the major climate concerns and presenting innovative ways to address them.
“As the UAE is the host country for the 28th session of COP28 in 2023, we will do everything to make this session comprehensive and contribute to unifying the world’s efforts,” he said.
“We will prioritize climate solutions that are feasible, commercially viable, and capable of translating plans and strategies into concrete results on the ground.”
The pace of climate-related events continued during the summit with the hosting of the World Energy Forum, which featured sessions on increasing ocean levels, governments’ efforts to combat climate change, zero carbon emissions, and designing future economies.
Additionally, the event covered energy trends in the Middle East, energy efficiency, the IAEA’s carbon-neutral future, and the role of nuclear energy in the transition to a better world, among other topics.
Global energy security
Saudi Arabian Energy Minister Abdulaziz bin Salman Al Saud met with Kurdistan Regional Government Prime Minister Masrour Barzani and UAE Energy Minister Suhail bin Mohamed Al Mazrouei to discuss energy security and capacity expansion.
The future depends on energy security, Salman Al Saud said. He argued that you could not address climate change without energy security, economic stability, and growth.
Al Saud emphasized the importance of OPEC+ oil suppliers, including Saudi Arabia and the UAE, in continuing to supply global markets.
Al Mazrouei, for his part, reaffirmed the necessity for continued investment in efficient and cost-effective hydrocarbon infrastructure to fulfill global demand.
All the panelists believe that the world cannot consider a future without oil but have a shared commitment to ensuring that while investment in hydrocarbon resources is essential, this will have a hugely positive impact on a successful energy transition of the future.