RIYADH, Saudi Arabia--(BUSINESS WIRE)--Nov 25, 2024--
Invest Saudi and The World Association of Investment Promotion Agencies (WAIPA) officially launched the 28th World Investment Conference (WIC) today in Riyadh. With an overarching theme of ‘Harnessing Digital Transformation and Sustainable Growth: Scaling Investment Opportunities’, the first day brought together more than 2,000 attendees from 130 countries, including 30 ministers, to explore key strategies for overcoming global investment challenges and unlocking opportunities for the future.
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H.E. Khalid A. Al-Falih, Saudi Minister of Investment, opened the event with an insightful keynote address, highlighting Saudi Arabia’s transformation under Vision 2030 and its emergence as a global investment hub. He identified the critical global trends shaping investment, such as the rise of green and blue economies, the impact of new technologies, the reconfiguration of global supply chains, and demographic shifts.
Showcasing Saudi Arabia’s development, H.E. Khalid A. Al-Falih told the audience: “Our GDP has grown by 70% since the launch of Vision 2030 to $1.1 trillion, with half of this attributed to non-oil economic activities. Foreign direct investment (FDI) flows have tripled compared to pre-Vision levels, and registered international investors are 10 times what they were.”
Nivruti Rai, Managing Director and CEO of Invest India and WAIPA President, also addressed the audience, highlighting the importance of collaborative global efforts to reshape economics and drive sustainable growth.
First day panels ranged from discussions on the evolving role of emerging economies to strategies for fostering global trade and investment. Topics included the increasing importance of FDI in driving economic transformation, the alignment of industrial policies with investment promotion, and transformative innovations in climate action.
H.E. Faisal F. Alibrahim, Saudi Minister of Economy and Planning, joined H.E. Eng. Hassan El-Khatib, Minister of Investment and Foreign Trade, Egypt, and H.E. Samir Abdelhafidh, Minister of Economy and Planning, Tunisia, in a panel discussing how emerging economies, such as Saudi Arabia, are redefining the role of investment promotion agencies (IPAs) and creating new opportunities for FDI amidst challenges like geopolitical shifts and sustainability goals.
“Saudi Arabia is today the global growth platform, actually the growth platform if you look at how the global economy is evolving. And we’ve been lucky enough to prove the power of diversification over the last few years,” H.E. Alibrahim said.
The conference also featured a masterclass on ‘Investor Services 2.0’ by the World Bank, exploring AI-driven analytics and VR site visits, along with matchmaking sessions that connected investors with SMEs and government representatives.
H.E. Khalid A. Al-Falih, Saudi Minister of Investment also brought up the topic of supply chain resilience ahead of the Global Supply Chain Resilience Event (GSCRI) being held on the sidelines WIC tomorrow. In his opening speech, he stated, “One trend is the steady reconfiguration of global supply chains, with decentralization creating hubs in emerging regions that offer new opportunities for investment in infrastructure and production capacity. We have observed that as investors look to enhance the stability and resilience of supply chains, new economic clusters are coalescing around resources, energy, and demography.”
Minister Al-Falih will give the opening remarks at the GSCRI event tomorrow along with H.E. Bandar Alkhorayef, Minister of Industry and Mineral Resources, Saudi Arabia.
The second day will also see sessions on technology innovation, industrial transformation, and sustainable partnerships.
About WIC:https://waipa.org/wic-info/
*Source:AETOSWire
From the World Investment Conference in Riyadh, Saudi Arabia (Photo: AETOSWire)
Saudi Minister of Investment, H.E. Khalid A. Al-Falih, addresses delegates at the 28th World Investment Conference in Riyadh, Saudi Arabia. (Photo: AETOSWire)
CHARLOTTE, N.C. (AP) — Workers who clean airplanes, remove trash and help with wheelchairs at Charlotte's airport, one of the nation's busiest, went on strike Monday during a busy week of Thanksgiving travel to demand higher wages.
The Service Employees International Union announced the strike in a statement early Monday, saying the workers would demand “an end to poverty wages and respect on the job during the holiday travel season.” The strike was expected to last 24 hours, said union spokesperson Sean Keady.
Employees of ABM and Prospect Airport Services cast ballots Friday to authorize the work stoppage at Charlotte Douglas International Airport, a hub for American Airlines. The two companies contract with American, one of the world's biggest carriers, to provide services such as cleaning airplane interiors, removing trash and escorting passengers in wheelchairs.
American doesn’t expect “any significant disruption” to its flights this week as a result of the strike, the company said in a statement. More than 30 American flights at the Charlotte airport — about 4% of the airline's flights — were delayed at midafternoon Monday, according to FlightAware, which isn’t out of the ordinary.
Workers say they previously complained that they can't afford basic necessities, including food, housing or car repairs. They described living paycheck to paycheck while performing jobs that keep planes running on schedule. Most of them earn $12.50 to $19 an hour, union officials said.
Those workers should make $22 to $25 an hour, said the Rev. Glencie Rhedrick, of Charlotte Clergy Coalition for Justice, at an SEIU Airport Workers United rally across from the airport. She was joined by striking employees and advocates, many raising signs that read, “Respect Black and Brown workers” and “Respect, Protect, Pay Us.”
“We cannot live on the wages that we are being paid,” ABM cabin cleaner Priscilla Hoyle said at the rally. “I can honestly say it's hard every single day with my children, working a full-time job but having to look my kids in the eyes and sit there and say, ‘I don’t know if we're going to have a home today.'”
At some airports in the Northeast, workers make more because of local wage ordinances, said Chris Baumann, a regional director for the union. But that's not the case in some Southern cities like Charlotte, he said, so workers are “asking the contractors to step up and do the right thing.”
ABM said in a statement Monday that it would take steps to minimize the strike's impact on travelers. There are avenues for employees to communicate issues, the company said, including a national hotline and a “general open door policy for managers at our worksite.”
“We keep employee safety and job satisfaction at the forefront of everything we do, and we are committed to addressing concerns swiftly,” ABM said.
Prospect Airport Services said last week that the company recognized the seriousness of the potential for a strike during the busy holiday travel season. It did not respond to a request for comment Monday.
About 800 workers were affected by the union’s push for higher wages, but an exact number who participated in the work stoppage was unclear, said union spokesperson Ana Tinsly.
Timothy Lowe II, a Prospect wheelchair attendant, said at the rally that he has heard of co-workers having to sleep in their cars or in U-Hauls because they can't afford rent. At the end of his shifts, Lowe said, he has to figure out where to spend the night because he doesn't make enough for a deposit on a home.
“We just want to be able to have everything that’s a necessity paid for by the job that hired us to do a great job so they can make billions,” he said.
Charlotte airport officials have said this holiday travel season is expected to be the busiest on record, with an estimated 1.02 million passengers departing the airport between last Thursday and the Monday after Thanksgiving. Airport officials said in a statement Monday morning that they were “monitoring and actively engaged with all partners to ensure terminal operations are not impacted,” noting that the striking workers aren’t employed by the city’s aviation department.
The union's North Carolina director, Niecy Brown, said at the rally that many people will travel through the Charlotte airport for Thanksgiving to spend time with family, but that the striking workers won't have that same holiday experience because of low wages. Instead, striking employees attended a “Strikesgiving” lunch Monday.
“They don't have a table to go to; they don't have a home to go to,” Brown said.
Airport workers wave signs as they march in front of the Charlotte Douglas International Airport in Charlotte, N.C., Monday, Nov. 25, 2024. (AP Photo/Nell Redmond)
Airport workers wave signs as they march in front of the Charlotte Douglas International Airport in Charlotte, N.C., Monday, Nov. 25, 2024. (AP Photo/Nell Redmond)
Airport workers wave signs as they march in front of the Charlotte Douglas International Airport in Charlotte, N.C., Monday, Nov. 25, 2024. (AP Photo/Nell Redmond)
Airport workers wave signs as they march in front of the Charlotte Douglas International Airport in Charlotte, N.C., Monday, Nov. 25, 2024. (AP Photo/Nell Redmond)
Airport workers wave signs as they march in front of the Charlotte Douglas International Airport in Charlotte, N.C., Monday, Nov. 25, 2024. (AP Photo/Nell Redmond)
Airport workers wave signs as they march in front of the Charlotte Douglas International Airport in Charlotte, N.C., Monday, Nov. 25, 2024. (AP Photo/Nell Redmond)
Airport workers wave signs as they march in front of the Charlotte Douglas International Airport in Charlotte, N.C., Monday, Nov. 25, 2024. (AP Photo/Nell Redmond)
Airport workers wave signs as they strike in front of the Charlotte Douglas International Airport in Charlotte, N.C., Monday, Nov. 25, 2024. (AP Photo/Nell Redmond)
Airport workers wave signs as they march in front of the Charlotte Douglas International Airport in Charlotte, N.C., Monday, Nov. 25, 2024. (AP Photo/Nell Redmond)
An airplane arrives at Charlotte Douglas International Airport as airport workers strike in front of the Charlotte Douglas International Airport in Charlotte, N.C., Monday, Nov. 25, 2024. (AP Photo/Nell Redmond)
FILE - A view of Charlotte Douglas International Airport, Friday, Nov. 22, 2024, in Charlotte, N.C. (AP Photo/Erik Verduzco, File)
An union ballot drop box is seen at Charlotte Douglas International Airport, Friday, Nov. 22, 2024, in Charlotte, N.C. (AP Photo/Erik Verduzco)
Passengers walks past a union ballot drop box at Charlotte Douglas International Airport, Friday, Nov. 22, 2024, in Charlotte, N.C. (AP Photo/Erik Verduzco)
An union ballot drop box is seen at Charlotte Douglas International Airport, Friday, Nov. 22, 2024, in Charlotte, N.C. (AP Photo/Erik Verduzco)
LaQuanda Harvey, a Prospect airport service worker, votes in favor of a strike at Charlotte Douglas International Airport, Friday, Nov. 22, 2024, in Charlotte, N.C. (AP Photo/Erik Verduzco)
