A decisive turning point: putting global industry on a fairer, greener path to economic growth

The world is becoming inexorably industrialized, increasing the prospects of better jobs and livelihoods for many of the world’s poorest. But to truly benefit the world’s population and the planet as a whole, international trade and industry must go hand in hand with healthier communities, lower emissions and cleaner air.

In the past this was not always the case, but the UN Industrial Organization UNIDO) is determined to make this happen. “We know all about the challenges and problems, but we are here to provide the solutions,” said Manuel Mattiat, the UNIDO Head of Cabinet. “Anything is possible with the knowledge we have, the technologies available and the money available.”

Investing in the Global South

Mr Mattiat spoke to UN News on UNIDO’s final day Global Industry Summitwhich covered a wide range of issues related to the industrial development of the Global South, from youth entrepreneurship to the empowerment of women business leaders (full coverage from UN News here).

With the UN under unprecedented scrutiny, the Riyadh conference will showcase the expertise and knowledge that the world’s leading multilateral organization has to offer investors and businesses alike, as well as a range of concrete solutions aimed at lifting the world’s most vulnerable people out of poverty.

“We are here to build bridges,” Mr. Mattiat explains. There are many developed, industrialized countries, rich in terms of resources and development, that are willing to invest, but they have not quite found the right entry points. This is precisely the purpose of our presence here in Riyadh, to mobilize investments for the least developed countries.”

Putting people first

On Thursday, representatives of UNIDO’s member states, covering developed and developing countries, adopted the Riyadh Declaration, which calls for stronger cooperation between governments, businesses and civil society to ensure that industrialization leads to greener economies, fair opportunities and better living standards.

By focusing on youth and women, the Declaration aims to increase access to skills and employment, and emphasizes the importance of innovation and digital transformation so that developing countries can benefit from new technologies and compete effectively in global markets.

The adoption of the Declaration is seen as a turning point in global industrial policy, providing a framework for governments and international partners to mobilize resources and deliver tangible benefits to communities around the world.