UAE’s Mubadala Investment Company CEO, Khaldoon Khalifa Al Mubarak, said that it would be “impossible” to predict the market within the latest technology, artificial intelligence and virtual world.
He added that the market has been facing heightened uncertainty, stressing that “this will prevail in the future, this is a reality.”
“As an investment institution, we tried to navigate through this uncertainty. You have to be closer to the market, industries and sectors you are working in,” he noted.
Mubadala is taking a long-term view on the United States and China despite the trade war, he said, adding that there is a tech race between both countries and “it’s going to continue”.
He also noted that there is a promising tech space in France, United Kingdom and Germany, which he expected would help UAE’s economic domestic development.
“We are monetizing assets we feel they have a high return,” he concluded.
The Public Investment Fund (PIF) is organizing the third annual Future Investment Initiative 2019 (FII) themed ‘What is next for global business?’, under the patronage of Saudi Arabia’s King Salman, from October 29th to 31st 2019 in Riyadh.
FII aims to explore latest innovations, opportunities and challenges shaping the global investment landscape, as well as emerging businesses covering a range of sectors, including energy, banking, technology, transportation, entertainment, sports, and healthcare.
Many analysts and experts have previously stated that the Saudi Vision 2030 will help establish the Public Investment Fund as one of the leading Sovereign Wealth Funds on the global level.
Write to Christine El Cheikh at christine.elcheikh@argaamplus.com
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