(MENAFN- Saudi Press Agency) Davos, Switzerland, May 24, 2022, SPA -- The Digital Cooperation Organization (DCO) and the World Economic Forum (WEF) launched a Digital Foreign Direct Investment (FDI) Initiative at the WEF annual meeting in Davos, Switzerland, to boost global foreign direct investment in the digital economy.
The agreement will see the DCO and WEF work together to identify methods to increase digital adoption, investment in new digital activities, and investment in digital infrastructure.
In addition, the DCO and WEF will undertake research to contribute to an increased global understanding of the regulatory challenges currently preventing countries from realizing the full potential of digital FDI.
Under the Initiative, the DCO and WEF will launch Digital FDI Enabling Projects in countries around the world, helping them identify and support implementation of policies and measures to increase investment in the digital economy, in additiona to facilitating knowledge-sharing of successful reforms among countries.
The launch was announced by President of the World Economic Forum, Borge Brende; Secretary-General of Digital Cooperation Organization, Deemah AlYahya; Minister for Communications and Digital Economy of Nigeria, Isa Ali Ibrahim Pantami; and CEO of AVEVA Group Peter Herweck.
The DCO, which focuses on digital economy initiatives supporting youth, startup entrepreneurs and women, has nine member states with a combined GDP of nearly USD2 trillion and a population of nearly 600 million.
With 70 percent of future economic growth set to be digital, according to the WEF, DCO member states provide a valuable market opportunity to investors and entrepreneurs alike.
--SPA
12:08 LOCAL TIME 09:08 GMT
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