HomeUAEWGS2022: A new phase towards strategic global economic agendas
By Economy Middle East
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April 1, 2022 3:30 pm

WGS2022: A new phase towards strategic global economic agendas

Economic sectors account for 52 percent of discussions
القمة العالمية الحكومات
World Government Summit

Dubai’s edition of the World Government Summit 2022 (WGS2022) heralded a new chapter in global plans and strategies. This year, digital assets were among the many topics discussed at the Summit, in addition to blockchain technology, circular economy, sustainable finance, metaverse economy, local and global investment prospects, and oil and gas outlook.

According to a monitoring report conducted by the Emirates News Agency (WAM), the economic sectors accounted for more than 52 percent of WGS2022’s discussions.

Dubai Exhibition Center at Expo 2020 Dubai hosted the summit, which spanned over three days from March 28-30, 2022.

The event saw participation by leaders and international officials in various sectors.

Discussions took place between speakers and participants during 98 sessions, out of 187 sessions, split between main, public, closed, and side events.

Pre-summit, several major economic issues were discussed at the World Energy Forum and the Investopia event.

Crypto.com, the global cryptocurrency trading platform and the Investopia’s global founding partner, enriched the summit’s work and strengthened its position as a platform for formulating new solutions for economic growth and future investments.

Investopia’s first session focused on ways to transform global growth centers, worldwide changes, and the effects on cross-border investments.

Energy Forum

 

The World Energy Forum sessions, organized in collaboration with the Atlantic Council over two days of the summit, discussed global energy security, sustainability, geopolitical variables, energy innovation, and the best ways to deal with carbon while achieving economic benefits.

Summit discussions focused on accelerating economic recovery, being proactive in government decisions, having resilient governments, the Global Digital Asset Forum, the future of digital currencies and banks, unlimited opportunities in metaverses, and being proactive.

The summit stressed the need to maintain global energy security, ensure oil flow, adopt a clear map of zero-carbon policies, and maintain the safety and stability of peoples and societies.

One of the summit sessions focused on the significance of green hydrogen in reaching carbon neutrality. Participants emphasized that the UAE’s ambitions to achieve carbon neutrality by 2050 represent a significant step forward for a country that has historically relied on fossil fuel sources.

Global economic outlook

 

Moreover, WGS2022 touched on the future of the global economy in the post-pandemic era amid global geopolitical tensions. The Summit discussed four scenarios to accelerate economic recovery, such as going back to the economy of the seventies, the future of money through innovative Asian models, as well as building of a future investment system, and the future growth of emerging economies.

The Future of Blockchain

 

Participants at the summit emphasized the importance of “blockchain” technology in providing potential investment opportunities in various fields of interest.  Also, the attendees urged governments to take swift action to legislate laws supporting blockchain technology to reap the investment and development opportunities this technology could generate.

“Forbes Under 30”

 

Furthermore, during the “Forbes Under 30” forum, a group of innovative young entrepreneurs discussed prospects for a more promising and exciting future. They also presented innovations to prevent a future pandemic, ensure sustainability in the fields of food and agriculture, and benefit from natural gas to reduce carbon emissions.

Metaverse

 

Participants and experts within the “Global Metaverse Forum” said that the metaverse and the 6G technology have the potential to activate the human imagination and creativity and take humanity to a brighter future and new levels of interaction.