INSME partnered The Annual Investment Meeting which took place on May 7-9, 2024 in Abu Dhabi (UAE). The event is one of the most important landmarks of the region gathering 12.000 participants from over 174 countries and hundreds of exhibitors. INSME and BVMW – The German association for SMEs led the SME track of the event, lead the SME Track with Reinhold von Ungern-Sternberg delivering a keynote speech on enhancing the effect of SMEs on the global economy and Giovanni Zazzerini chairing two panels respectively on “The Outward Foreign Direct Investments (OFDI) of SMEs: New Challenges and Opportunities” and on “Export Priorities for Local SMEs: Market Access Strategies”
The first session on OFDI involved INSME members and sister organizations represented by H.E. Fabio Righi (San Marino Ministry of Industry, Handicraft and Trade), Orkhan Mammadov (Kobia Azerbaijan), Hayssam El Masri (Ento Capital), Mohamed Kheddir (Kheddir & Partners), Dr. Hoda Galal Yassa (Businesswomen Association for Development), and James Hehn (Fox-Davies Capital), and discussed why it is of vital importance to promote international investment for SMEs, touching upon the fact that compared to FDI by larger enterprises SMEs are more agile and fast, they rely more on local suppliers and workers, furthermore SMEs are less likely to crowd out local firms. FDIs help SMEs facilitate regional market integration in neighbour countries and help local SMEs in improving their productivity and access to innovation.
In the panel focused on export Mr Zazzerini highlighted that in a global scenario in which 90% of global growth will originate outside the EU in the coming years and that by 2030 60% of the world’s GDP will be represented by developing countries and emerging economies, SMEs can and must play an important role in international trade and in GVCs however as reported by panellists Giulia Ajmone Marsan (ERIA – Economic Research for Asean and East Asia), Sarah Hassanoui, Ciro Aquino (SACE), and Betty Alexandroupoulos (Enterprise Greece), there are still many obstacles and challenges for organizations and policy makers to respond to such as financial resources, market information, and complex regulatory requirements.
Every edition of the AIM Congress is an opportune event to address the fundamental challenges that nations are being confronted with on their journey to achieving development, and to discuss investment trends and strategies that can be utilised to maximise the potential of every business, country and region to consequently fuel economic diversification.
Source: INSME Secretariat
