Conference Presentation, Fireside Chat
Conversation with His Excellency Khaldoon Khalifa Al Mubarak | Middle East & Africa Summit 2024
Milken InstituteKhaldoon Khalifa Al Mubarak, His Excellency Khaldoon Khalifa Al Mubarak, Michael Milken
- The UAE aims to rank in the top three globally across all significant metrics within the next 20 years, positioning itself as a center of global activity and a beacon opposing decoupling trends.
- Strategic anchoring will focus on AI, technology, financial services, life sciences, and healthcare, with expectations that these sectors will grow and prosper while the nation remains at the forefront of AI enablement and infrastructure development.
- Mubadala is projected to continue outperforming peers, with credit business exposure nearing $20 billion and a commitment to continue investing in this area.
- Future growth is identified as originating from South Asia and Africa, specifically Sub-Saharan Africa and India, over the next 30 to 50 years, though the speaker acknowledges the challenge of creating value and investing in Africa remains unresolved.
- Underinvestment in Southeast Asia is recognized as a priority for correction to align with identified growth markets, alongside a commitment to increase capital flows to the region.
- By the end of 2025, AI will be fully integrated into Mubadala's operations, accounting, and investment processes, with the first AI-integrated investment committee scheduled to convene four weeks after January 1st.
- The MGX investment platform is expected to attract third-party capital and sustain partnerships with major institutions such as Microsoft and BlackRock.
- The UAE intends to maintain an open flow of capital and people to support a conducive business environment, characterized by strong healthcare, schooling, safety, and lifestyle standards to attract high net worth individuals.
- Human capital movement is viewed as the primary driver for global value creation and the formation of future industries, with the UAE aiming to assimilate individuals globally to build great companies.
- Risks include the global trend of decoupling, the unresolved methodology for investing in Africa, and the necessity to adapt to the massive technological shifts expected to dominate the next five to ten years.