ElGamal: B20 Summit Highlighted Building Resilient Global Value Chains Importance
Tarek ElGamal, Chairman of REDCON Group, stressed the significance of the discussions organized during the Business Leaders’ Summit “B20,” particularly the recommendations by policymakers, economic experts, and business leaders worldwide, Invest-Gate reports.
ElGamal’s remarks followed his participation in the B20 Summit in New Delhi, India, where he represented the African Business Leaders Coalition (ABLC), affiliated with the United Nations Global Compact initiative.
ElGamal stated that the activities of the B20 Summit mark a crucial stride in enhancing private sector involvement in sustainable development. With over 1,500 business leaders and 172 policymakers participating, under the supervision of 10 world leaders, the summit contributes to accelerating sustainable development across various sectors within the framework of the G20’s most significant supporting events, to which Egypt was invited.
ElGamal highlighted Africa and India as key players in the future of global economic growth. Projections indicate that Africa’s population, currently at 1.3 bn people, is expected to double by 2050.
ElGamal emphasized the need to expedite African economic integration by supporting continental trade, investing in human capital to foster innovation, and promoting sustainable development across all sectors.
ElGamal focused on the recommendations presented by the B20 to the leaders of the G20 Summit. These recommendations should be implemented to expedite global economic recovery and achieve sustainable development.
These recommendations include establishing a Global Sustainable Development Acceleration Fund (GSAF) to finance recovery efforts, enable African countries to achieve comprehensive agricultural development, and address the impacts of climate change.
Furthermore, the recommendations emphasize increasing private sector participation for global financial inclusion, applying circular economy principles, and funding sustainable and resilient infrastructures, focusing on healthcare, energy, and digital infrastructures.
Notably, the B20 Business Summit, held under the theme “R.A.I.S.E,” which stands for “Responsible, Accelerated, Innovative, Sustainable, and Equitable Business,” concluded with ElGamal’s emphasis on the importance of collaboration and the implementation of sustainable practices in the business sector.