Published on 25 May, 2022

DCO launches pioneering Digital FDI initiative with WEF

  • DCO/WEF initiative aims to facilitate cross-border investment in the digital economy
  • DCO headlined several public and private conferences focused on digital inclusion, digital foreign direct investment and the social economy
  • DCO met with digital innovators across the private and public sectors to explore collaboration on its impact initiatives focused on entrepreneurs, women and youth

The Digital Cooperation Organization (DCO), the first and only global multilateral organization focused exclusively on the digital economy, played a leading role at the World Economic Forum’s annual meeting in Davos this week, launching a pioneering initiative with the World Economic Forum (WEF) to increase digital foreign direct investment (FDI) globally and leading high-level discussions on the digital economy.

The DCO, whose programs aim to enable digital prosperity for all by accelerating the inclusive growth of the digital economy, 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.

The World Economic Forum is the International Organization for Public-Private Cooperation, engaging the world’s foremost political, business, cultural and other leaders of society to shape global, regional and industry agendas.

Unveiled at Davos by DCO Secretary-General Deemah AlYahya and WEF President Børge Brende, the Digital FDI Initiative aims to help countries around the world, identify and implement policies, regulations and other measures to make their digital industries more investment-friendly. To implement the initiative, DCO’s digital FDI experts will collaborate with partners from the private sector, academia, think tanks, other international organizations and civil society.

The DCO also hosted an event entitled Accelerating Digital Prosperity, bringing together some of the world’s leading authorities in digital transformation. Moderated by Rudolph Lohmeyer of Kearney’s National Transformations Institute, the session was led by Paula Ingabire, Minister of Information and Communications Technology and Innovation of Rwanda, a DCO member state; and Francois Barrault, chairman of the European digital economy think tank IDATE Digiworld.

In addition to headlining the DCO’s events at Davos, Secretary-General AlYahya was invited to speak at several public and private sessions, including the plenary session Unlocking New Investment and Services Markets, in the company of heads of state, government ministers and the C-suite executives of major global companies.

To explore possible collaborations on DCO impact initiatives focused on youth, entrepreneurs and women, Secretary-General AlYahya also met with private and public sector leaders with a shared passion for digital inclusion, including Emmerson Mnangagwa, President of Zimbabwe; Alexander De Croo, Prime Minister of Belgium; Mathias Cormann, Secretary-General of the Organisation for Economic Co-operation and Development (OECD); Houlin Zhao, Secretary-General of the International Telecommunication Union (ITU); Rania Al Mashat, Minister for International Cooperation of Egypt; José Alejandro Rojas Pardini, Panama’s Minister Counselor for Private Investment Facilitation; Salman F. Rahman, Advisor to Bangladesh’s Prime Minister on Investment and Private Industries; and Guy Diedrich, Global Innovation Officer of Cisco.

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