By: Ambassador James Baimba
The Special Envoy for Trade and Investment, Alpha Lavalie, along with his team, represented Sierra Leone at the 28th World Investment Conference (WIC), hosted in Riyadh, Saudi Arabia. The conference brought together global leaders, policymakers, and business executives to discuss critical trends and opportunities in trade and investment, with a focus on sustainable growth and technological innovation.
Day one commenced with a highlight of an impactful opening ceremony presided over by H.E. Khalid A. Al-Falih, Minister of Investment, Kingdom of Saudi Arabia; Nivruti Rai, Managing Director and CEO of Invest India and President of WAIPA; and Dr. James Zhan, Chair of the WAIPA Executive Board.
Key discussions on the first day underscored Saudi’s Vision 2030: Progressing towards green energy and technological advancements.
Next to it was Islamic Development Bank’s Impact: Supporting development through loans to countries like Turkey and Indonesia.
Addition issues like Global Maritime Leadership: Greece holds 23% of the world’s maritime fleets, with efforts towards a “Green Greece.”
Globalization and Growth: Emphasizing trade and investment as drivers of economic growth and addressing inequality in policymaking.
Foreign Direct Investment (FDI): Low-income countries represent one-third of global FDI inflows.
Digitization and AI: Preparing policies to address AI’s impact on labor markets and future work dynamics.
Small Businesses and Enterprises: Recognized as the future of economic resilience.
Sustainable Development: Discussions on leveraging funds for climate-focused initiatives and promoting circular, green, and blue economies.
Renewable Energy Transition: Advancements in solar, wind energy, and electric vehicles as part of the green energy agenda.
For orange economy, focus was on industries like AI, fashion, tourism, and food, set to drive 80% of global GDP by 2025.
Mr. Lavalie engaged in several productive meetings aimed at fostering trade and investment opportunities for Sierra Leone. He met with Mr. Hussain Ahmed to discuss expanding his existing business operations from Guinea to Sierra Leone.
Furthermore, he engaged with Mr. Sultan Al Mansour: Explored a proposal for establishing an electric motorbike business in Sierra Leone. Mr. Lavalie welcomed this environmentally friendly initiative and requested a detailed business proposal to move the collaboration forward.
Mr. Lavalie emphasized that Sierra Leone is open for business and committed to creating a conducive environment for investors. “Our office is dedicated to facilitating trade and investment opportunities for partners exploring Sierra Leone’s abundant potential,” he assured.
The 28th World Investment Conference provided a platform for Sierra Leone to showcase its readiness to engage in global trade and investment while aligning with sustainable development goals and technological innovation. As the discussions continue, Sierra Leone remains optimistic about fostering strategic partnerships to drive its economic transformation.