Riyadh will host the Multilateral Industrial Policy Forum (MIPF) of the United Nations Industrial Development Organization (UNIDO) on October 23 and 24, 2024, marking the first time the global platform convenes in the Kingdom of Saudi Arabia. Co-organized by the Ministry of Industry and Mineral Resources, the forum will gather ministers, industrial transformation leaders, experts, investors, and researchers from around the world to strengthen partnerships with UNIDO and develop innovative industrial policies that support regional and global industrial development.
Context and Background
The MIPF represents a leading international platform to showcase best practices for addressing industrial challenges. By hosting this forum, Saudi Arabia reaffirms its commitment to global cooperation in industrial policy, particularly in light of the disruptions exposed by the COVID-19 pandemic and ongoing shifts in global supply chains. The event provides a unique opportunity to exchange ideas, expertise, and knowledge on a global scale, while highlighting Saudi Arabia’s industrial achievements through an accompanying exhibition featuring initiatives to localize promising industries.
Key Details and High-Level Participation
The forum will feature several high-profile roundtable discussions, with participation from Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz Al Saud; Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef; and ministers from Guinea, Egypt, Singapore, Bahrain, the United Arab Emirates, Jordan, Morocco, China, and Brazil. Notable attendees also include Dr. Abdullah Al-Rabeeah, Supervisor-General of the King Salman Humanitarian Aid and Relief Center, and a distinguished group of decision-makers, experts, and chief executives from major global companies. Key themes include sustainable industrial policy, digital technologies such as AI in manufacturing, energy transition, and enhancing the resilience of global supply chains.
Implications and International Impact
The forum addresses essential themes to ensure a balance between national interests, regional cooperation, and international governance, aligning with global commitments to the UN’s 2030 Industrial Development Agenda and Sustainable Development Goals. Discussions will focus on advancing the fourth industrial revolution by integrating modern technologies and enhancing the synergy between the manufacturing and services sectors. The forum also highlights the importance of adopting a sustainable approach to industry to address environmental and climate challenges, emphasizing a green transition to enhance competitiveness and meet changing market needs. Additionally, the event will review challenges to global supply chains and discuss ways to improve their resilience and diversification to ensure quick recovery from crises.
Vision 2030 Alignment
Hosting the MIPF underscores Saudi Arabia’s strategic priorities under Vision 2030, which aims to diversify the economy, boost industrial development, and position the Kingdom as a global hub for innovation and investment. The forum’s focus on sustainable industrial policies, digital transformation, and strategic international partnerships directly supports Vision 2030’s goal of building a vibrant society, a thriving economy, and an ambitious nation. By facilitating dialogue on innovative solutions and long-term economic growth, Saudi Arabia continues to demonstrate its leadership in shaping the future of global industry and contributing to shared prosperity.
20 Questions
Q1. What is the Multilateral Industrial Policy Forum?
A1. The MIPF is a global platform organized by UNIDO that brings together ministers, experts, and leaders to discuss and develop innovative industrial policies for sustainable development.
Q2. Where will the MIPF take place?
A2. The forum will be held in Riyadh, Saudi Arabia, on October 23 and 24, 2024, marking the first time the event is hosted in the Kingdom.
Q3. Who is co-organizing the forum?
A3. The forum is co-organized by the Ministry of Industry and Mineral Resources of Saudi Arabia in partnership with UNIDO.
Q4. What is the main purpose of the forum?
A4. The forum aims to strengthen partnerships with UNIDO and develop innovative industrial policies that support regional and global industrial development.
Q5. Which Saudi minister is participating?
A5. Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Al-Khorayef will participate in the forum’s roundtable discussions.
Q6. What role does Minister of Energy Prince Abdulaziz bin Salman play?
A6. Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy, will participate in high-profile discussions at the forum.
Q7. Which countries are sending ministers to the forum?
A7. Ministers from Guinea, Egypt, Singapore, Bahrain, UAE, Jordan, Morocco, China, and Brazil will attend the forum.
Q8. What key themes will the forum address?
A8. Key themes include sustainable industrial policy, AI in manufacturing, energy transition, and enhancing global supply chain resilience.
Q9. How does the forum relate to the UN’s SDGs?
A9. The forum aligns with the UN’s 2030 Industrial Development Agenda and SDGs by promoting sustainable industrial practices and international cooperation.
Q10. What is the fourth industrial revolution focus?
A10. The forum will discuss integrating modern technologies like AI and digital tools to advance the fourth industrial revolution in manufacturing.
Q11. Why is global supply chain resilience important?
A11. The COVID-19 pandemic exposed vulnerabilities; the forum aims to improve resilience and diversification for quick recovery from crises.
Q12. What types of activities will the forum include?
A12. The event will feature roundtable discussions, workshops, bilateral meetings, and an accompanying exhibition showcasing Saudi industrial achievements.
Q13. Who is Dr. Abdullah Al-Rabeeah?
A13. Dr. Abdullah Al-Rabeeah is the Supervisor-General of the King Salman Humanitarian Aid and Relief Center, participating in the forum.
Q14. How does the forum support Saudi Vision 2030?
A14. The forum supports Vision 2030 by promoting economic diversification, industrial development, and positioning Saudi Arabia as a global innovation hub.
Q15. What investment opportunities will be highlighted?
A15. The forum will showcase unique investment opportunities in the industrial sector to attract strategic international partnerships.
Q16. How does the forum address environmental challenges?
A16. The forum emphasizes a green transition and sustainable approaches to industry to tackle climate challenges and enhance competitiveness.
Q17. Is the forum open to the public?
A17. The forum is a high-level event for decision-makers, experts, and leaders; it is not open to the general public.
Q18. What is the role of UNIDO in the forum?
A18. UNIDO co-organizes the forum, bringing its expertise in industrial development and fostering global cooperation on policy innovation.
Q19. Will the forum include private sector participation?
A19. Yes, prominent speakers from the private sector and major global companies will attend and contribute to discussions.
Q20. How does the forum promote long-term economic growth?
A20. By driving innovation, supporting competitiveness, and developing sustainable solutions, the forum contributes to long-term economic growth locally and globally.
Reader Feedback
We value your thoughts. Please share your feedback on this article.
Your feedback helps us improve our coverage.