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Pandemic to cost global tourism $2 trillion in 2021 — UN

By - Nov 29,2021 - Last updated at Nov 29,2021

This photo taken last week shows people walking next to empty seats set out in front of bar on a quiet beach on Koh Phangan in the Gulf of Thailand (AFP photo)

MADRID — The coronavirus pandemic will cost the global tourism sector $2 trillion in lost revenue in 2021, the UN's tourism body said on Monday, calling the sector's recovery "fragile" and "slow".

The forecast from the Madrid-based World Tourism Organisation (WTO) comes as Europe is grappling with a surge in infections and as a new heavily mutated COVID-19 variant, dubbed Omicron, spreads across the globe.

International tourist arrivals will this year remain 70-75 per cent below the 1.5 billion arrivals recorded in 2019 before the pandemic hit, a similar decline as in 2020, according to the body.

The global tourism sector already lost $2 trillion (1.78 trillion euros) in revenues last year due to the pandemic, according to the UNWTO, making it one of sectors hit hardest by the health crisis.

While the UN body charged with promoting tourism does not have an estimate for how the sector will perform next year, its medium-term outlook is not encouraging.

"Despite the recent improvements, uneven vaccination rates around the world and new COVID-19 strains" such as the Delta variant and Omicron "could impact the already slow and fragile recovery", it said in a statement.

The introduction of fresh virus restrictions and lockdowns in several nations in recent weeks shows how "it's a very unpredictable situation," UNWTO head Zurab Pololikashvili said.

"It's a historical crisis in the tourism industry but again tourism has the power to recover quite fast," he added ahead of the start of the WTO's annual general assembly in Madrid on Tuesday.

"I really hope that 2022 will be much better than 2021."

'Confused'

While international tourism has taken a hit from the outbreak of disease in the past, the coronavirus is unprecedented in its geographical spread.

In addition to virus-related travel restrictions, the sector is also grappling with the economic strain caused by the pandemic, the spike in oils prices and the disruption of supply chains, the UNWTO said.

Pololikashvili urged countries to harmonise their virus protocols and restrictions because tourists "are confused and they don't know how to travel".

International tourist arrivals "rebounded" during the summer season in the Northern Hemisphere thanks to increased travel confidence, rapid vaccination and the easing of entry restrictions in many nations, the UNWTO said.

"Despite the improvement in the third quarter, the pace of recovery remains uneven across world regions due to varying degrees of mobility restrictions, vaccination rates and traveller confidence," it added.

Arrivals in some islands in the Caribbean and South Asia, and well as some destinations in southern Europe, came close to, or sometimes exceeded pre-pandemic levels in the third quarter.

However, other countries hardly saw any tourists, at all, particularly in Asia and the Pacific, where arrivals were down 95 per cent compared to 2019 as many destinations remained closed to non-essential travel.

Closed borders

A total of 46 destinations — 21 per cent of all destinations worldwide — currently have their borders completely closed to tourists, according to the UNWTO.

A further 55 have their borders partially closed to foreign visitors, while just four nations have lifted all virus-related restrictions — Colombia, Costa Rica, Dominican Republic and Mexico.

The future of the travel sector will be in focus at the WTO annual general assembly, which will run until Friday.

The event — which brings together representatives from 159 members states of the UN body — was original scheduled to be held in Marrakesh.

But Morocco in late October decided not to host the event due to the rise in COVID-19 cases in many countries.

Before the pandemic, the tourism sector accounted for about 10 per cent of the world's gross domestic product and jobs.

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Laos hopes for economic boost from Chinese-built railway

By - Nov 28,2021 - Last updated at Nov 28,2021

This frame grab from Lao National TV video footage taken on October 16 shows the Lane Xang bullet train at the Vientiane Railway Station in Vientiane (AFP photo)

BANGKOK — A new $6 billion Chinese-built railway line opens in Laos this week, bringing hopes of an economic boost to the reclusive country, but experts are questioning the benefits of a project that has seen thousands of farmers evicted from their land.

The 414 kilometre route, due to open on December 3, took five years to construct under China's trillion-dollar Belt and Road Initiative which funds infrastructure projects.

Struggling strawberry farmer Anouphon Phomhacsar is hoping the new railway will get his business back on track.

His farm usually produces up to two tonnes of the red heart-shaped fruits a year, but the pandemic has hit the 2021 harvest hard.

It currently takes Phomhacsar three to four hours to send his strawberries to Vientiane by road, but he hopes the new railway will cut this delivery time in half.

He says it will also be easier for tourists to travel to camp under the stars and pick berries.

"In the future, foreign tourists coming to the farm could be in the tens of thousands," he said.

The train route will connect the Chinese city of Kunming to the Laos capital, with grand plans for high-speed rail to ultimately snake down through Thailand and Malaysia to Singapore.

Infrastructure-poor Laos, a country whose population stands at 7.2 million, previously had only 4 kilometres of railway tracks.

But now sleek red, blue and white bullet trains will speed along the new line at up to 160kmh, passing through 75 tunnels and across 167 bridges, stopping at 10 passenger stations.

Economic boost

Despite registering only dozens of COVID cases until April, Laos' economy took a pandemic battering — economic growth declined to 0.4 per cent in 2020, the lowest level in three decades, according to the World Bank.

Hopes for a 2021 rebound were dashed — Laos locked down as it clocked up roughly 70,000 infections in the past eight months.

While the railway could boost tourism, freight and agriculture, according to a World Bank report, the government needs to undertake substantial reforms, including improving border clearance processes.

"The new railway is a major investment that has the potential to stimulate the Lao economy and allow the country to take advantage of its geographical position at the heart of mainland southeast Asia," Sombath Southivong, a senior World Bank infrastructure specialist, said.

The tourism industry is desperate for a pick-me-up after the pandemic caused an 80 per cent downturn in international traveller numbers in 2020 — 4.7 million foreign tourists visited the previous year.

Pre-pandemic young nomads crammed on to buses at Vientiane for the four-hour ride to adventure capital Vang Vieng — a journey that will now take about an hour by train.

The town, which has a former CIA airstrip, was notorious for backpackers behaving badly at jungle parties before it rebranded as a eco-tourism destination.

But the kayaks, river rafts, ziplines and hot air balloons have been empty of late.

Inthira — a boutique hotel nestled on the banks of the Nam Song River — shifted from a full occupancy rate to only a trickle of domestic travellers on weekends, says general manager Oscar Tality.

Tality hopes the railway and reduced travel times will give the industry a shot in the arm.

"Along the way people will see magnificent views of the mountains and will cross over bridges and tunnels. It will be a wonderful trip for those on the train," Tality said.

White elephant?

Despite local optimism, some Laos watchers are concerned about the long-term viability of the project.

"The issue for Laos though is whether their economy... their private sector is positioned to take advantage of this transport system," Australian National University lecturer Greg Raymond said.

Two-thirds of Laotians live in rural villages toiling on the land, and the minimum wage is around $116 a month — a reported $13.30 train fare from Vientiane to the border town of Boten has attracted some social media criticism for being too expensive.

"When you look at the juxtaposition of this super modern railway and the countryside it is passing through - it's very stark. One does wonder whether the Laos people will be the beneficiaries?" Raymond said.

The project has already left some 4,400 farmers and villagers reeling after they were forced to surrender land.

Many have faced long delays receiving compensation or have been paid inadequate amounts, the Lao Movement for Human Rights said in a report.

"The compensation rate is very low. If you are asking villagers to move, how can they afford new land?" Laotian MP Vilay Phommixay told parliament in June last year.

But for others it is all aboard.

"There's great anticipation... there's a source of pride for the Laos people," Tality said.

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Shoppers return for 'Black Friday,' but many have already bought

By - Nov 27,2021 - Last updated at Nov 27,2021

Shoppers browse items inside of Sunny's Accessories on Black Friday in downtown El Paso, Texas, on Friday (AFP photo)

NEW YORK — Americans returned to stores for the "Black Friday" kickoff of the holiday shopping season, but online data shows that consumers have been spending big for weeks amid worries over shortages.

The day after the US Thanksgiving celebration is the traditional start to the holiday shopping season, and normally sees Americans line up outside stores before they open to clinch deals on popular items.

After the pandemic kept crowds away last year, many shoppers were out in force Friday, a sign of how COVID-19 vaccines have returned life in the United States to something closer to normal.

"I just wanted to make sure that this Christmas was a good Christmas for all my friends and family," said a masked Sylvia Gonzalez as she waited in line outside the jewelry chain Pandora in New York.

But even before retailers opened their doors early Friday morning, e-commerce shoppers in the United States had already spent $76 billion since early November, up more than 20 per cent from the year-ago period, according to data from software company Adobe, which has projected somewhat fewer promotions this year in light of rising costs.

The jump has added to companies' optimism about the season, suggesting some shoppers heeded calls from businesses to purchase items early this year after port backlogs and other logistics problems sparked worries that popular goods would be in short supply.

Toys led the buying spree, with Adobe pointing to actions by "anxious parents increasingly aware of supply chain challenges".

The National Retail Federation projects overall spending could rise as much as 10.5 per cent to $859 billion.

Nonetheless, out-of-stock listings online are up 261 per cent compared with two years ago, according to Adobe.

Item in hand

Retailers and market watchers are broadly optimistic about the holiday shopping season in light of low unemployment and relatively strong household finances due in part to pandemic stimulus bills enacted by the government.

Countering those positive trends are lingering supply chain problems, spiking consumer prices that have affected household staples such as food and fuel, and the COVID-19 pandemic, which is still far from over.

On Friday, stock markets worldwide tumbled on worries that the latest strain of the virus found in South Africa could derail the global recovery.

Reminders of the pandemic were visible throughout shopping districts in the New York borough of Manhattan.

Signs at Macy's reminded customers to keep six feet apart and pop-up COVID-19 testing sites were positioned outside stores where mostly masked crowds were large, but not as sizeable as before the pandemic.

"In 2018, it was more like the New York you heard of," said German tourist Ilke Zienteck. "Now, it's a little bit like a small town."

Still, the hum of customers inside shops suggested that many had adjusted to the "new normal" of pandemic living.

There were obvious gaps at some stores. At a Best Buy near Grand Central Station, a shelf of Apple accessories was almost completely empty, while the camera bags section had few remaining offerings.

Other chains like Victoria's Secret and Foot Locker have acknowledged shortages of some choice products.

Taylor Schreiner, a digital research expert at Adobe, expects more consumers to order online and pay for expedited shipping, or pick up goods at stores.

"It's not just because people want it quickly," he said in an interview. "Having the item in hand is the surest way to have the gift for the person."

January glut?

An emerging worry in the industry is that retailers will be stuck with goods originally intended for the holidays but that don't arrive until January.

Macy's is generally canceling orders for items with a Christmas motif, but plans to keep other items if they are cold-weather-oriented and could sell later in the winter, executives said earlier this month.

Gap Chief Financial Officer Katrina O'Connell said the apparel chain was planning to hold some items for next winter.

"If we think items are going to be too late for the holiday season, we won't put them in stores or online and have them generate markdowns," she said earlier this week on a conference call with Wall Street analysts. "We'll hold them for next year."

Gap has been one of the companies hardest hit by supply chain problems due to lengthy factory shutdowns in Vietnam caused by the country's COVID-19 restrictions, which contributed to a loss of some $300 million in sales in the most recent quarter.

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Japan defence ministry seeks record $6.7b extra budget

By - Nov 27,2021 - Last updated at Nov 27,2021

TOKYO — Japan's defence ministry said on Friday it would seek a record $6.7 billion additional spending this financial year to speed up purchases of military equipment, citing the "increasingly severe" regional security environment.

Noting challenges posed by China and North Korea, the ministry said the regional security situation was becoming "increasingly severe at an unprecedented speed".

Japan's military budget has been rising steadily for about a decade and the ministry has already put in a request for next financial year worth $50 billion, maintaining record spending.

But Friday's request seeks to add 773.8 billion yen ($6.7 billion) in a supplementary budget for spending through March 2022, up from the record set in the year ending March 2020 of 428.7 billion yen in extra spending.

The additional money would cover the cost of missiles, patrolling aircrafts, torpedos, helicopters and other equipment, some of which were budgeted for purchase in next year's spending.

But regional challenges require Japan to "speed up the enhancement of missile defence capability and other defence capacity needed for protecting islands in the south-western region", the ministry said.

The spending request will be finalised this month after consultations with the ruling coalition, according to media reports.

In an annual defence paper released in July, Japan said US-China tensions over Taiwan are an increasingly urgent issue that threatens regional stability.

Beijing considers Taiwan part of its territory and has ramped up diplomatic, military and economic pressure on the self-governed island in recent years.

The United States has reacted strongly to Beijing's campaign, putting ally Japan in a tough position between two world powers that are both key trade partners.

But Japan has been increasingly vocal about China's maritime expansion and military build-up, publicly protesting against the presence of Chinese vessels around disputed islets known as the Senkaku by Tokyo and the Diaoyu by Beijing.

Japan's ruling conservatives have set a long-term policy goal of expanding Japan's defence budget beyond 2 per cent of GDP, a ratio that would put it on par with NATO members

That would mark a departure from Japan's political tradition of capping defence spending below 1 per cent of GDP, which stands around $5 trillion.

The status of Japan's military is a sensitive issue as the post-war constitution limits it to a defensive role.

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Stocks mostly rise after strong US data

By - Nov 25,2021 - Last updated at Nov 25,2021

The high price of gasoline is displayed at a Los Angeles gas station on Wednesday (AFP photo)

LONDON — Leading stock markets mostly rose on Thursday following data confirming a strong US economic recovery.

Frankfurt was higher in midday deals, with traders focusing on Germany having finally struck a deal to form a new government.

This helped to offset news that Europe's biggest economy had lowered its growth estimate for the third quarter amid surging Covid cases.

The major Asian indices mostly ended with gains on Thursday after a similar picture overnight on Wall Street.

US markets were closed Thursday for the Thanksgiving holiday.

"The quiet Thanksgiving Day session in global markets has seen European indices edge slightly higher, taking their cue from a better finish to the day yesterday, especially in the US where the usual pre-holiday buying helped to lift stocks," said Chris Beauchamp, chief market analyst at IG trading group.

Oil prices steadied, one day after the head of the International Energy Agency called on OPEC and its allies to take measures to help bring crude prices down to "reasonable levels".

A drop in US jobless claims to a five-decade low, along with a surge in consumer income and spending, reinforced optimism that the United States is well on the recovery track -- but added to pressure on the Federal Reserve to prevent overheating.

The readings came as minutes from the US central bank's November policy meeting showed officials were moving towards tapering their vast bond-buying stimulus programme -- known as quantitative easing -- at a faster pace as they try to tame rocketing prices.

The Fed also signalled it could raise US interest rates sooner than market expectations to keep a lid on rocketing inflation, fuelled in large part by high energy prices.

The S&P 500 and Nasdaq closed on Wednesday with healthy gains ahead of the Thanksgiving break.

Tokyo led gains in Asia on Thursday, while Seoul was weighed by the South Korean central bank's decision to lift interest rates.

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US prices rose 5% last month compared to October 2020

By - Nov 24,2021 - Last updated at Nov 24,2021

A shopper walks past turkeys displayed for sale in a grocery store ahead of the Thanksgiving holiday in Los Angeles, California, as prices across the US rose by 5 per cent last month compared to October 2020 (AFP file photo)

WASHINGTON — Prices across the United States rose by five per cent last month compared to October 2020 as the wave of inflation accelerated, the government reported on Wednesday.

The year-on-year increase in the Commerce Department's personal consumption expenditures price index was its largest since November 1990 and above the 4.4 per cent change reported in September.

Incomes last month rose by a more-than-expected 0.5 per cent, while spending similarly exceeded analysts' forecasts with a 1.3 per cent gain.

The report indicates that Americans are continuing to shop and see their incomes grow even as inflation rises at record rates, with the data showing energy prices up 30.2 per cent from October 2020 while food prices were 4.8 per cent higher.

The inflation acceleration occurred at the monthly level too, with the price index rising 0.6 per cent compared to September, in line with analysts' forecasts.

Americans saw their incomes rise due to increasing wages and gains from assets, the data showed, indicating as well that the increase was undercut by the tapering of government benefit payments, likely due to the expiry of pandemic aid programs.

Consumers directed their spending towards both goods and services.

Much of the $123.8 billion increase in goods spending went to motor vehicles and parts, while international travel was a component of the $90.5 billion increase in services spending that was felt across sectors, the government said.

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Lebanese pound sinks to new low

By - Nov 24,2021 - Last updated at Nov 24,2021

BEIRUT — The Lebanese pound sank to a new low on the black market on Wednesday, with no end in sight to the economic and political crisis plunging ever growing numbers into poverty.

According to websites monitoring the black market rate, the pound was trading at 24,000 to the dollar, or 16 times less than its official peg value of 1,500.

The new record, topping a previous peak in July, comes as the newly-formed Lebanese government has failed to meet for more than a month amid a festering diplomatic crisis with Gulf countries.

Lebanon's much-reviled political barons are also divided over the fate of the judge probing the deadly August 2020 Beirut Port blast widely blamed on government negligence and corruption.

With the currency losing more than 90 per cent of its value in two years on the black market, the purchasing power of Lebanese is plummeting and the minimum wage is now worth less than $30.

According to the United Nations, four in five Lebanese are now considered poor. The World Bank estimates Lebanon may need almost two decades to recover its pre-crisis per capita gross domestic product.

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Mohammed Bin Rashid Initiative for Global Prosperity announces Aerofarms as Global Prosperity Award winner

By - Nov 24,2021 - Last updated at Nov 24,2021

Badr Al Olama, Head of the Organising Committee for the Global Manufacturing and Industrialisation Summit, and David Rosenberg, Chief Executive Officer of AeroFarms, during an award ceremony in Dubai on Wednesday (Photo courtesy of GMIS)

DUBAI – The Mohammed Bin Rashid Initiative for Global Prosperity on Wednesday announced that AeroFarms, a New Jersey-based global leader in indoor farming, as the winner for the Global Prosperity Award, a programme that reinforces corporate social responsibility through science, innovation, and entrepreneurship.

AeroFarms will provide mentorship support to four start-ups that were identified as the most disruptive solutions for the Global Maker Challenge, which concluded in September 2020 and ran challenges focused on Sustainable and Healthy Food for All, Innovation for Inclusive Trade, Innovation for Peace and Justice, and Climate Change, according a statement from the Global Manufacturing and Industrialisation Summit (GMIS).

The mentorship programme will include training on food safety and quality assurance processes, discussions with AeroFarms’ senior leadership team to strengthen organisational structures, ways to improve private sector engagement, as well as support with public relations and branding.

An expert panel led by Policy Links - Institute for Manufacturing at the University of Cambridge selected AeroFarms for presenting customised support plans to help each of the winning innovators overcome their non-financial operational challenges and achieve greater societal impact.

The judging panel also recognised AeroFarms’ leadership and transformative work in agricultural technology. The Global Prosperity Award was announced during The Global Prosperity Conference at EXPO’s Dubai Exhibition Centre on November 24, 2021.

David Rosenberg, Chief Executive Officer of AeroFarms, said: “The Global Prosperity Award presents AeroFarms with the opportunity to give back and help serve as a role model and inspiration on how to push the boundaries of innovation.

“We are looking forward to working closely with these young organisations that demonstrate an immense drive to make transformative changes in the world and help them improve operational competitiveness and commercial growth. Importantly, this collaboration is closely aligned with AeroFarms’ vision of unlocking disruptive ideas to create a more connected, resilient and sustainable planet.”

Established in 2004, AeroFarms is an indoor vertical farming enterprise that works at the intersection of plant biology, agriculture and disruptive technologies to grow fresh produce and distribute them around the world.

The AgTech company recently announced the launch of AeroFarms AgX, a wholly owned subsidiary to develop the world’s largest indoor vertical farm dedicated to cutting-edge R&D based in Abu Dhabi, United Arab Emirates.

The company’s business model addresses 12 of the 17 United Nations Sustainable Development Goals and won the inaugural Global SDG Award for private sector leadership in the advancement of the UN 2030 Agenda, the statement said.

The Global Prosperity Award was formed to encourage global organisations to make a lasting social impact on communities around the world and enable startups to ramp up disruptive solutions addressing some of the world's most pressing challenges.

The award connects entrepreneurs and innovators with experts from partner organisations like AeroFarms.

The four most disruptive solutions identified by the Global Maker Challenge are Agricycle Global, a vertically integrated supply chain to empower rural farmers and connect them to the US market; Algiknit, a creator of eco-conscious renewable and biodegradable fibres and yarns; ID2020, a non-profit organisation that aims to develop digital IDs for billions of undocumented people worldwide; and Ryp Labs Inc. a technology company that aims to reduce food waste by extending the shelf life of fruits and vegetables.

Badr Al Olama, Head of the Organising Committee for the Global Manufacturing and Industrialisation Summit (GMIS), said: “As the world continuously fights to overcome the obstacles caused by the pandemic, it is imperative to leverage disruptive technologies and address societal challenges. By supporting innovators that are creating unconventional solutions to improve the state of the world, the Global Prosperity Award once again underscores the UAE’s commitment towards unlocking new opportunities that can accelerate global good.”

“This is yet another exciting year for the Mohammed bin Rashid Initiative for Global Prosperity. AeroFarms is well-recognised in the technology and food security sectors, and is highly regarded globally for being an innovative and agile organisation. I am confident that the selected makers who have committed so much into creating innovative and bold solutions will benefit from this mentorship programme. I look forward to the day where these solutions are aimed towards tackling the most pressing social, economic and environmental challenges of our times,” he added.

The Global Prosperity Award was announced on the back of a session titled ‘Solving the Mentor-Mentee Equation: Is There a Science to it?’, which was attended by Roberto Croci, Managing Director of Microsoft for Startups, Bruna Braga, Head of Partnership of MIT Solve, Jida Itani, Chief Operating Office for Hub 71, and Moody Soliman, Co-Founder of Ryp Labs Inc.

The session critically examined the core attributes of a successful mentor-mentee relationship in the context of social impact start-ups, drawing on the panel’s experiences, according to the statement.

Roberto Croci, Managing Director of Microsoft for Startups, said: “Mentorship is what you and your mentee make of it! As a mentor, it is not about having all the answers, it is about displaying empathy, attempting to see things from the mentee’s perspective while not being afraid to probe when things get more intense for your mentee, sharing what you know, including past difficult experiences or situations of your own and translating the unwritten rules and challenges that have helped you develop to where you are now.

“As a mentee, it is about taking initiative in asking for help and advice, coming to the mentor sessions prepared with specific thoughts and topics, discussing your career goals, interests, concerns, issues, or anything on your mind openly with your mentor. Mentorship is about having meaningful conversations and deepening a mutual relationship to search inside yourself and learn from each other, being open to be vulnerable, providing perspective, recognising challenges and seeking for help.”

The Global Prosperity Conference was held during the six-day GMIS Week from November 22-27 at EXPO’s Dubai Exhibition Centre, featuring over 200 global speakers.

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Mohammed Bin Rashid Initiative For Global Prosperity, UN-Habitat launch ‘Decade of Action Challenge’ to promote sustainable urbanisation

By - Nov 24,2021 - Last updated at Nov 24,2021

Erfan Ali, UN-Habitat’s Regional Director for the Arab States, and Namir Hourani, Managing Director of GMIS Head of the Global Manufacturing and Industrialisation Summit Organising Committee, pose for a photo during the signing of a Memorandum of Understanding on Wednesday (Photo courtesy of GMIS)

DUBAI — The Mohammed Bin Rashid Initiative for Global Prosperity (MBR Initiative) and the United Nations Human Settlements Programme (UN-Habitat) on Wednesday announced the launch of the “Decade of Action Challenge”, to promote sustainable and inclusive urbanisation through innovative solutions, partnerships and transformative ideas.

The two organisations signed a Memorandum of Understanding to support entrepreneurs and startups develop impactful solutions to address the key challenges of urbanisation and advance equitable economic development in cities, in line with the United Nations Sustainable Development Goals (SDGs), according to a statement from the Global Manufacturing and Industrialisation Summit (GMIS).

The 10-year partnership was born as a result of the shared vision and long-standing association between the two organisations to make cities more prosperous while creating a global innovation ecosystem of social impact leaders made up of UN entities, governments, entrepreneurs, investors, philanthropists, academia and the private sector.

The Partnership was announced by Maimunah Mohd Sharif, Executive Director of UN-Habitat, followed by an MoU signed between Erfan Ali, UN-Habitat’s Regional Director for the Arab States and Namir Hourani, Managing Director of GMIS Head of the Global Manufacturing and Industrialisation Summit Organising Committee, during the Global Prosperity Conference at EXPO’s Dubai Exhibition Centre on November 24, 2021.

In a video message, the Executive Director of UN-Habitat Maimunah Mohd Sharif said: “While rapid urbanisation has transformed cities into engines of economic growth, they also present significant human development challenges, including pollution, poverty, income inequality and infrastructure development. Combatting the challenges of urbanisation and generating opportunities for prosperity requires bold ideas, cross-border and cross sector partnerships.”

Reinforcing the importance of stimulating inclusive economic progress in cities, each cohort of the Decade of Action Challenge will operate in two-year cycles for a total of five cohorts to encourage startups and entrepreneurs to submit innovative solutions.

Both the Mohammed Bin Rashid Initiative for Global Prosperity and UN-Habitat will support the startups in designing and developing market-driven solutions that will be implemented in urban centres across the world through UN-Habitat’s global and country level networks.

Badr Al Olama, Head of the Global Manufacturing and Industrialisation Summit Organising Committee, said: “Digital innovation along with robust policymaking is essential to accelerate sustainable urbanisation and create new opportunities for shared prosperity. Advances in digital technology are rapidly pushing the boundaries of socio-economic development, providing governments, businesses and international organisations with innovative tools to build resilient communities.

“The partnership between UN-Habit and the Mohammed bin Rashid Initiative for Global Prosperity is a significant step towards building innovative cities of the future, as the world prepares for unprecedented levels of urbanisation over the next decade. I am delighted to launch the Decade of Action with UN-Habitat, and pull in entrepreneurial talent from around the world to help cities effectively respond to economic shocks, climate change, and improve competitiveness.”

The 10-year partnership was announced at the end of a session titled “The Decade of Action: A Countdown to Prosperity” that examined the role of public private partnerships, knowledge-sharing initiatives, and financing solutions to identify, nurture and scale impact-driven businesses.

In attendance was Busi Mabuza, Chair of the Board at the Industrial Development Corporation for South Africa, Fadi Ghandour, Executive Chairman of Wamda, Ibrahima Guimba-Saidou, CEO of National Agency for Information Society (ANSI), Vilas S. Dhar, President of the Patrick J. McGovern Foundation.

The Global Prosperity Conference was held during the six-day GMIS Week from November 22-27 at EXPO’s Dubai Exhibition Centre, featuring over 250 global speakers.

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GMIS set to launch inaugural GMIS America in 2022

By - Nov 24,2021 - Last updated at Nov 24,2021

Panelists at the closing ceremony of the fourth edition of the Global Manufacturing and Industrialisation Summit in Dubai on Wednesday (Photo courtesy of GMIS)

DUBAI — The fourth edition of the Global Manufacturing and Industrialisation Summit (GMIS) concluded Wednesday with an announcement launching GMIS America.

Set to take place in 2022, the inaugural edition of the event will take place in the City of Pittsburgh, homage to some of the manufacturing sector’s most advanced and sustainable innovations in robotics, artificial intelligence, and 3D printing, according to a GMIS statement.

The announcement reflects the summit’s commitment to delivering strategic outcomes and value to its global network of partners through collaborative efforts and ongoing opportunities for growth through the introduction of innovative solutions, read the statement.

The announcement was made by Namir Hourani, Managing Director of the GMIS Organising Committee at the closing ceremony of the fourth edition of the Global Manufacturing and Industrialisation Summit (#GMIS2021).

Moderated by Simin Yazdgerdi Curtis, President, CEO and Founder of the American Middle East Institute (AMEI), the closing ceremony witnessed keynote speeches from Diane Farrell, Acting Undersecretary for International Trade at the US Department of Commerce, and Thomas Wolf, Governor of the Commonwealth of Pennsylvania.

The session wrapped up with a panel discussion between Michael Lordi, CEO of Elliott Group – a Pennsylvania-based turbomachinery company, Petra Mitchell, President and CEO of Catalyst Connection and Board Member of the Advanced Robotics in Manufacturing (ARM) Institute, and Danny Sebright, President of the US-UAE Business Council. Bill Flanagan, Chief Corporate Relations Officer at the Allegheny Conference on Community Development, and Audrey Russo, President and CEO of the Pittsburgh Technology Council, joined the panel virtually.

Hourani said: “With such a strong history in traditional manufacturing, once being a major industrial powerhouse, and the ongoing story of how the city continues to reinvent itself into becoming a centre for advanced technologies and manufacturing, Pittsburgh makes the utmost sense as a location not only for the inaugural GMIS America scheduled for 2022, but also to establish an ongoing annual GMIS America edition in the United States.”

Pittsburgh was the second city in the US to adopt the UN Sustainable Cities preceded by its adoption of the Four Principles encompassing People, Planet, Place and Performance (P4) set forth to index and monitor targeted policy actions.

Its traditional manufacturing legacy combined with strong leadership, quality infrastructure, collaborative mindset, and proximity to two world-class, research-focused universities have allowed the city to reinvent itself as a major centre of technological innovation and advanced manufacturing in the US.

Delivering a special address, Farrell pointed: “At the United States Department of Commerce, we are committed to create conditions that contribute to business and job growth by promoting advanced manufacturing, fostering innovation and increase in trade and investment. In line with the mission brought through by the GMIS platform, we look forward to be part of this great opportunity to foster global collaboration.”

Highlighting Pittsburgh’s successful story of transitioning into a city at the forefront of innovation and advanced technologies, Wolf said: “The mission of the GMIS and Pittsburgh’s unique ecosystem align seamlessly, so it’s an honour to announce that the city will not only host next year’s summit but also establish a long-term, collaborative partnership with GMIS.”

“Pittsburgh is a city with incredible history that continues to reinvent itself and my administration is committed to fuelling its growth and transformation, bringing new opportunities to both western Pennsylvania and the commonwealth as a whole,” he said.

With the support of the AMEI, GMIS America will be hosted in 2022.

Headquartered in Pittsburgh, Pennsylvania, the American Middle East Institute is set to closely collaborate with the Global Manufacturing and Industrialisation Summit to host the event next year. Upon thanking GMIS for choosing Pittsburgh as its host, Curtis said: “GMIS couldn't have picked a more exciting host than Pittsburgh, a city that has reinvigorated its economy again and again with a unique brand of grit and innovation. I am delighted that the bridge-building mission of AMEI has brought GMIS to our city.”

Commenting on the announcement, Badr Al Olama, head of the Organising Committee of the Global Manufacturing and Industrialisation, said: “GMIS America will showcase the Pittsburgh story to the rest of the world. As a national and global hub for advanced manufacturing, Pittsburgh serves as a perfect example for other cities around the world that are embarking on an advanced industrialisation journey. The Global Manufacturing and Industrialisation Summit was launched in Abu Dhabi in 2017, and has since taken place in Russia and Germany (virtually) before coming to Dubai this year. Extending our reach to the United States was the natural next step for us.”