UNIDO Hosts Multilateral Industrial Policy Forum 2024 in Saudi Arabia

The United Nations Industrial Development Organization (UNIDO) held the second edition of the Multilateral Industrial Policy Forum (MIPF 2024), hosted by the Kingdom of Saudi Arabia on 23-24 October 2024 in Riyadh, Kingdom of Saudi Arabia. The Forum focused on AI, digitalization and automation in manufacturing, the global energy transition, and sustainable and resilient supply chains for local value addition and job creation.

“The global landscape of the future is changing; by 2050, the world will be shaped by mega-trends such as population growth, increasing food demand, the future of energy, and resource scarcity”, noted UNIDO Director General Gerd Müller in his opening statement. “Industry is not the problem, but a key part of the solution. Sustainable industrialization through innovative technologies is central to developing long-term solutions to the world’s major challenges. It is the catalyst for job creation, economic growth, and fighting poverty.”

The opening ceremony featured a keynote speech by the Guest of Honour, HRH Abdulaziz Bin Salman, Minister of Energy of Saudi Arabia, remarks by the host, Bandar Al-Khorayef, Minister of Industry and Mineral Resources of Saudi Arabia. Minister Al-Khorayef emphasized the importance of industrial development in achieving the country’s “Vision 2030” for economic diversification. He highlighted the need to embrace new trends in the face of rapid global change, stating that Saudi Arabia is “building manufacturing for the future, and it is not only for Saudi Arabia, it is for the region, for the global community.”

To underscore the strong partnership between UNIDO and the Kingdom of Saudi Arabia, Director General Müller and Minister Al-Khorayef signed a Joint Declaration marking the beginning of a new Strategic Partnership and Programming Framework, initiating new projects to together drive innovation, capacity building, and sustainable industrialization in Saudi Arabia and beyond.

UNIDO’s Multilateral Industrial Policy Forum responded to the growing need for robust industrial policy frameworks and informed decision-making processes.

To inform the Forum, UNIDO presented a conference paper on “The Future of Industrialization” which outlined the need for immediate action, as the future of sustainable industrialization requires swiftly addressing pressing challenges while navigating the fundamental shifts reshaping the industrial sector, including the ongoing energy transition, rapid technological advancements such as artificial intelligence, the reconfiguration of global value chains and the evolving nature of how we work.

As a leading platform for global industrial policy dialogue, MIPF 2024 set out to answer the fundamental question of how countries can build competitive, future-ready industries. The Forum was attended by over 3,000 participants, including a wide range of high-level stakeholders from the public and private sector, academia and civil society. Talks covered key areas for action during numerous Ministerial and High-Level Round Tables as well as during many Game Changer Sessions and Fireside Chats.

An immersive exhibition showcased UNIDO’s work and Saudi Arabia’s progress to achieving its “Vision 2030”: from AI-powered solutions to sustainable energy transitions, the exhibition highlighted the importance of industrial policy and the cutting-edge developments driving industrial resilience and shaping a more sustainable future.

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