Multilateral Industrial Policy Forum Launches in Riyadh with Focus on Sustainable Future

RIYADH: The Multilateral Industrial Policy Forum began in Riyadh, centering on the theme "Industrial Policies for a Sustainable Future." Saudi Minister of Industry and Mineral Resources Bandar Al-Khorayef emphasized the necessity of adapting to rapid global changes and enhancing global competitiveness. According to Kuwait News Agency, the two-day forum is organized by the Saudi Ministry of Industry and Mineral Resources in collaboration with the United Nations Industrial Development Organization (UNIDO). Al-Khorayef stressed the importance of international cooperation, highlighting the need for sharing information and data to address global challenges. He called for significant investments in infrastructure, technology, and education, along with debt relief and improved resource access for developing nations. UNIDO Director General Gerd Muller echoed these sentiments, noting the critical role of industry in tackling global crises. He highlighted the annual population growth of 80 million, primarily in devel oping countries, and the necessity of creating millions of jobs by 2050. Muller also projected substantial increases in global food and energy demands by 2050, emphasizing the urgent need for investment in renewable energy and a transition to a circular economy. The forum's objective is to promote sustainable global industrial policies and foster international cooperation in line with the United Nations' Sustainable Development Goals and Saudi Arabia's 2030 Vision. It features ministerial roundtable discussions with participants from countries such as the UAE, Egypt, Singapore, Bahrain, and Morocco, underscoring a global commitment to industrial transformation. The event seeks to accelerate industrial development while balancing national and international interests, aligning with the United Nations' development agenda.