At its ministerial conference in Riyadh, least developed countries take a decisive step towards a more sustainable industrial transformation

The importance of these pledges, which were the result of the 11th Ministerial Conference for the Least Developed Countries, which was hosted by the Saudi capital, Riyadh, is that they are a decisive step towards ensuring the prosperity of millions of people in these countries in an interconnected global economy.

Least developed countries represent about 13% of the world’s population, but contribute less than 1% of global trade and foreign direct investment. It is home to about 40% of the world’s low-income population, many of which are in or have just emerged from conflict situations. Among these countries in the Arab region are: Yemen, Mauritania, Djibouti, Somalia and Sudan.

Here comes the importance of the one-day conference organized by the United Nations Industrial Development Organization (UNIDO).UNIDO) in cooperation with United Nations Office for Small Island Developing States, Least Developed Countries and Landlocked Developing Countries.

It highlighted how industrialization can help diversify the economies of least developed countries, create jobs for youth and women, and reduce dependence on raw commodity exports.

Conflicts hinder development

Bashir Abdullah, advisor to the Sudanese Minister of Industry and Trade, who was among those present, stressed that the role of UNIDO, in cooperation with other international organizations working in the field of the industrial and development sector, is to help Sudan get out of this crisis.

He added to UN News that this matter is being achieved “First, by stopping the war. Second, by supporting Sudan in its various sectors so that it can return the factories to the production cycle. Sudan, for its part, presented a project, known as the reconstruction of the industrial sector, and we presented this project to UNIDO, and a side event was devoted to it, where it will be discussed at the conference.”.

Like many of the world’s poorest countries, Sudan’s attempts to develop its economy are severely hampered by conflict.

Least developed countries also suffer from limited social and economic development, with low and unevenly distributed income, high dependence on agricultural economies, and restricted access to domestic financial resources.

Yes to global solidarity and multilateralism

Gerd Müller, Director-General of UNIDO, said in his opening remarks to the assembled ministers “We need a decisive change in direction.”reminding them that manufacturing “Necessary to achieve Sustainable development goals “Building resilience to crises.”.

Mueller added: “We need to say yes to global solidarity, to multilateralism, and to prevent the gap between rich and poor from widening.”noting that 500 Nobel laureates and economists are calling on the world’s leading economies to take action.

These experts highlighted the fact that between 2000 and 2024, the wealth of the richest one percent of the world’s population increased by 41 percent, while the wealth of the poorest half of the world’s population increased by only one percent.

A mission to improve people’s lives

UNIDO’s mission is to help countries overcome these shocks and, through industrialization, become more resilient and improve lives.

Manuel Matiat, Head of the Organization’s Bureau, pointed out the importance of the strategies adopted by UNIDO in this regard.

He told UN News “The takeaways from those strategies are how exactly do we implement them and what is necessary? What are the major challenges facing some of these developing countries; for example in terms of their vulnerability to climate change, the current trade wars, all kinds of ongoing conflicts, and the debt problem.”.

In Sudan, for example, the organization – as the advisor to the Minister of Industry and Trade in Sudan said – provides support “Through three projects. The first project is the reconstruction project. The second project is a factory project for prosthetic limbs. The third project is to support the industrial sector through what is known as pharmaceutical manufacturing. There is a final project called the Green Economy Project.”.

Conference results

On the path to greater solidarity, inclusion and support, the Ministerial Conference produced two main results:

Both outcomes are designed to translate global commitments into national and regional initiatives that meet the unique needs and priorities of least developed countries.

The conference comes one day before the launch of the United Nations Global Industry Summit, which is an opportunity for member states to present their distinguished projects and initiatives in the field of industrial transformation, as well as highlighting UNIDO’s role and efforts in improving people’s lives.