Within the activities of the second day of the virtual conference of the World Summit on Industry and Industrialization

Mubadala: Our strategic direction is sound, and we will continue to invest in promising areas

• The «conference» witnessed a virtual session of discussion on the industrial sector.

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A discussion session within the activities of the second day of the virtual conference of the World Summit on Industry and Industrialization, the joint initiative between the UAE and the United Nations Industrial Development Organization (UNIDO), called for radical reforms in the global system, and the strengthening of the trend towards integrating a greater number of countries into global value chains, stressing the existence of A new world and an open horizon for smart countries, including the UAE, which sent its scientific equipment to Mars.

In turn, «Mubadala Investment Company» Salama confirmed its strategic orientation, and said in a session, during the conference, that the crisis we are witnessing now, related to the Coronavirus pandemic, confirms that its strategic orientation was and is still sound, so it will continue to invest strongly in its promising areas.

Industrial sector

In detail, the activities of the virtual conference of the World Summit on Industry and Manufacturing yesterday witnessed a session in which a group of ministers and executives from each of: the Ministry of Science, Technology, Innovation and Communications of Brazil, the Italian Parliament, Lockheed Martin, IBM, and the Indian Federation For industries, they unanimously agreed that the Corona epidemic has contributed to large and rapid changes in the industrial sector, and pushed companies operating in the sector to reformulate their business models, to enhance their ability to deal with crises, and quickly adapt to various circumstances to ensure the continuity of their business.

Dole dominance

In turn, Brazilian President Jair Bolsonaro confirmed, during a working session, that the loss of lives that the world lost due to the Corona epidemic would have been greatly reduced, had a group of countries not dominated global production.

Bolsonaro called for fundamental reforms in the global system, and the strengthening of the trend towards integrating more countries into global value chains.

He added: “We will work with our partners to achieve more solidarity and cooperation, to correct the course and reduce those imbalances in global production highlighted by the epidemic.

It is well known that there are certain countries that have come to dominate some of the most important stages of production in global value chains, while the rest of the world has become dependent on the supplies these countries produce.

There is no doubt that this defect is behind the shortage of personal protective equipment and respirators, which the world suffered during the epidemic.

Emirates and Mars

For his part, Armenian President Armen Sarkissian said that his focus, as the leader of a small country, was on preparing his people and preparing them for the future by building an advanced and world-class educational system, focusing in particular on science and technology.

He said, "We face the same challenges, and the solution is to play a pioneering role and be in the front ranks towards the future, which means investing in education, science and technology."

Therefore, as president, I created an initiative that we called (Advanced Tomorrow), which includes the establishment of joint projects with well-known international companies to develop artificial intelligence and other new technologies, and I am fully confident that it is very possible to transform a small country into a modern and advanced country.

Sarkissian said that small, successful countries around the world are investing in science, technology and education, and that it would be beneficial for them to share what they have learned and gained from the experiences.

He continued: “I spoke to the leaders of many small, successful countries, and called for the establishment of a club, and this club may be a place where we come together to share our experiences.

Going back 30 years, no one would have imagined at the time that a Gulf country like the UAE would be able to send its scientific equipment to Mars, except that we see it today as a reality.

Therefore, there is a new world and a horizon open to small and smart countries, and I want to make Armenia one of them. ”

Mubadala wallet

In the context of the activities of the second day of the conference, leaders of global companies emphasized that the global economy is facing a difficult stage, before a full recovery from the repercussions of the Corona epidemic, despite the many gains achieved by companies operating with advanced technologies.

The chief executives of Mubadala Investment Company, Siemens, Honeywell and Schneider Electric praised the quick government measures that were taken to protect jobs and companies amid closures that were taken around the world.

"We have all witnessed positive economic reactions to the financial steps taken by the governments of most countries, especially in the large economies around the world," said Group CEO and Managing Director of Mubadala Investment Company, Khaldoun Khalifa Al Mubarak, expressing his belief that the stability of economic activity and the return of business to the previous Reign, it will take some time.

Al-Mubarak continued: “Even before the outbreak of the epidemic, our investment portfolio was focused on promising and future sectors, such as: energy, renewable energy, energy storage, mobility, automation, robotics and artificial intelligence.

The crisis that we are witnessing now confirms that our strategic direction was and still is a sound one, so we will continue to invest heavily in these areas.

"The world has changed a lot, and we have to keep pace with developments around us," he said.

Future success will depend on the ability of companies, states and individuals to keep pace with this change, and to realize the mechanisms of the new world, in preparation for the post-epidemic phase.

Digital transformation

Cambodian Prime Minister Hun Sen said that the epidemic has created an opportunity to accelerate digital transformation and enhance regional cooperation between the countries of the Association of Southeast Asia (ASEAN), pointing out that the crisis has strengthened our ability to accelerate the adoption of the foundations and concepts of the Fourth Industrial Revolution, in terms of digital transformation in Industries and institutions, and in methods of communication, and the flow and flow of business.

Calls for fundamental reforms in the global system, and the integration of states in value chains.

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