Investopia launched its second edition of global talks in Europe with the event titled “Investopia London.” The theme of the event was “UAE-British Financial Services: Partnership for the Future.” The discussions centered around global investment opportunities in fintech, digital transformation, the new economy, financial markets, and innovative banking services. The forum emphasized the crucial role played by global financial markets in stimulating investment and driving sustainable economic development.
Organized by Investopia on January 31, 2024, the event took place in London and was attended by prominent figures such as His Excellency Abdulla bin Touq Al Marri, UAE minister of economy and chairman of Investopia; H.E. Bim Afolami, economic secretary to the Treasury; Mr. Michael Mainelli, mayor of the City of London; and Jean Fares, CEO of Investopia. More than 200 participants, including leaders, entrepreneurs, investors, and economists from around the world, were in attendance.
Investment opportunities in clean energy, and innovation
During his speech at the event, H.E. Bin Touq highlighted the significance of Investopia as a leading global platform for investment. He explained that Investopia, launched from the UAE in 2021, aims to create promising opportunities in new economic sectors and emerging industries. Over the past three years, Investopia has organized events and dialogues in eight global cities, focusing on familiarizing the global investment community with these vital sectors and considering them as future industries that contribute to the sustainable growth of the global economy.
“With an aim to discover promising investment opportunities in European markets, Investopia London serves as a new starting point for Investopia global dialogues in Europe. It seeks to identify new and emerging trends in the global investment landscape, facilitate expansion into economic sectors and activities that support sustainability, and address global economic challenges. The focus is on tangible opportunities to build new partnerships, maximizing the benefits for the UAE and British business communities, and acquainting participants with investment opportunities in sectors such as fintech, clean energy, and innovation. Additionally, it explores the available opportunities in global financial markets, particularly those in the Abu Dhabi and Dubai financial markets,” H.E. Bin Touq added.
UAE: A promising investment destination
H.E. Bin Touq said: “The UAE is considered a promising investment destination at both regional and global levels. The business environment in the country has undergone a radical transformation in legislation and economic policies, contributing to an increase in FDI inflows into the UAE. In 2022, the country achieved its highest-ever figure for foreign direct investment inflows, reaching AED84 billion ($23 billion), and recorded the second-highest global increase in new foreign investment projects, with a growth rate of 28 per cent, following the United States in 2023.”
UAE’s commitment to fostering fintech investment
H. E. stated, “The fintech sector is a key driver for enhancing innovation and economic growth in the country. The UAE has been keen on encouraging investment in this vital sector and developing it according to the best global standards. It also constitutes an important part of the national strategy for the digital economy, which aims to double the contribution of the digital economy to the country’s GDP from 9.7 per cent in 2022 to 19.4 per cent over the next ten years in line with the ‘We the UAE 2031’ vision, to become a global hub for the new economy.”
Fintech investments to reach $949 billion by 2030
According to recent reports from the Dubai International Financial Centre (DIFC), in collaboration with Refinitiv, a subsidiary of the London Stock Exchange Group, the fintech sector is poised for consistent expansion in attracting investments. Also, it is projected to achieve a compound annual growth rate of 17.2 percent, reaching a total of $949 billion between 2022 and 2030.
Lord Michael Mainelli, mayor of London, said: “We are delighted to announce our collaboration with Investopia in organizing Investopia London. The economic ties between the United Kingdom and the UAE in the field of financial services have been witnessing dynamic growth, particularly in light of the recently signed MoU aimed at fostering cooperation in this vital sector.” He noted that the Investopia event serves as a significant platform for entrepreneurs, investors, and visionaries to connect and explore potential investment prospects.
He added: “London is a leading global hub when it comes to financial services. In light of the strong economic partnership between both countries, we are fully prepared to strengthen collaboration in multiple areas during the upcoming phase. These include capital markets, wealth management, innovation, green finance, and SME financing. Such efforts will contribute to creating a more conducive environment and fostering the economic growth of both nations.”
Enhancing cooperation for a sustainable future
Marianne Scicluna, senior executive director of Supervision at Abu Dhabi Global Market (ADGM) stated: “Accompanying the UAE delegation on this visit highlights our commitment to promoting economic development, supporting the financial sector, and developing bilateral relations with all relevant institutions in the United Kingdom. Our strategic relations with the U.K. began with the inception of the Abu Dhabi Global Market, and we continue to enhance cooperation to shape a sustainable future built on innovation and specialized knowledge. Our presence here today will play a major role in solidifying this partnership, drawing more cutting-edge businesses to the market, and supporting Abu Dhabi’s and the UAE’s positions as leading international business hubs with integrated systems for innovation and growth.”
Investopia London sessions
Investopia London hosted a series of panel discussions that covered various important topics. The first session, titled ‘UAE and U.K.: The Future of Strategic Partnership and its Role in Supporting Economic Growth,’ explored opportunities for collaboration and increased investment flows between the UAE and the U.K.. It also focused on enhancing the economic partnership between the two countries.
The second session, titled ‘The Role of Financial Markets in Supporting Global Economic Growth,’ delved into ways to enhance cooperation between the financial markets of the UAE and the U.K.. It emphasized the significance of economic policies and legislations in stimulating investment in financial markets, supporting open economic policies, and facilitating investment in listed companies.
The third session, titled ‘The Impact of Innovation on Fintech and Banking Services,’ highlighted investment opportunities in the financial and banking sectors of the UAE and the U.K.. It discussed innovative mechanisms that drive the growth of the fintech sector and foster innovation in the financial industry.
Lastly, the fourth session, titled ‘Green Growth: Unlocking Sustainability Opportunities in the Financial Services Sector,’ focused on internationally recognized standards in the financial services sector to address future risks. The session explored practices that mitigate these risks and discussed new products that support the growth of financial services companies. Additionally, it explored cooperation between the UAE and the U.K. in the financial services sector, taking advantage of global sustainability trends and initiatives such as the carbon credits market and promoting investment in clean energy.
Partnership agreement between Investopia and the City Week Forum
Investopia and the City Week Forum have joined forces through a partnership agreement announced during the event. This collaboration aims to co-organize the upcoming 3rd edition of Investopia (Investopia 2024) Summit in Abu Dhabi, the capital of the UAE, on February 28 and 29, as well as future editions of the City Week Forum.
Additionally, the signing ceremony, held in London, U.K., was attended by His Excellency Abdulla Bin Touq Al Marri, the Minister of Economy and Chairman of Investopia, alongside Dr. Jean Fares, COO of Investopia, and Morris Paton, CEO of the City Week Forum, who signed the Memorandum of Understanding (MoU).
The partnership between Investopia and the City Week Forum aims to leverage their respective expertise and insights in conference organization. Moreover, this collaboration seeks to foster active engagement among leaders, influential investors, businessmen, economists, and entrepreneurs in the forthcoming events organized by both entities.
Investopia London marks the second milestone in a series of Investopia dialogues and events held in Europe. The inaugural session took place in Milan, the commercial hub of Italy, in May 2023. Furthermore, this event drew over 350 participants from around the world, including decision-makers, businessmen, investors, and economists from the UAE, Italy, and European companies.
For more news on the economy, click here.
