DUBAI: An investment of $50 billion over the next 10 years could feed 10 billion people, Gerd Muller, the director-general of the UN’s Industrial Development Organization, told the World Government Summit on Monday.
Addressing a session titled “What Lies Ahead: The Dawn of a New Industrial Era,” Muller said: “We do have the solutions, technology and knowledge to solve the global challenges. We need to invest in infrastructure in these countries…We do have the solutions, but what is missing is global solidarity.”
Moderated by CNN’s correspondent and anchor Richard Quest, the session discussed how governments and leading sectors could advance progress toward inclusive and sustainable industrial development.
Other speakers who attended the 25-minute session were Ray O. Johnson, CEO, Technology Innovation Institute and ASPIRE; C.P. Gurnani, managing director and CEO, Tech Mahindra; and George Oliver, CEO, Johnson Controls.
Johnson said he believes that now is the time for Industry 4.0, which entails the shift to increased interconnectivity and smart automation, to step up.
Collaboration between the public and private sectors is needed for innovative and sustainable outcomes.
“Global solidarity will lead to progress through innovation,” he said.
The speakers also discussed how the future of industrialization has yet to be written in a world grappling with financial and economic instability.
They also spoke of the importance of fostering resilience for industrial growth and debated whether nations will take a more multilateral approach to building their industrial resilience.
