Riyadh, October 24, 2024 — In a significant address at the second Multilateral Industrial Policy Forum (MIPF) held in Riyadh, Guinean Prime Minister Mamadou Oury Bah underscored the vital importance of sustainable manufacturing in fostering economic development. He articulated that the adoption of sustainable industrial practices is essential for achieving industrial transformation, enhancing economic independence, reinforcing infrastructure, and transitioning to clean energy sources. Collectively, these elements serve as the foundation for sustainable and inclusive growth, which is increasingly important in today’s global economy.
Prime Minister Bah called for the establishment of stronger strategic partnerships among nations, international organizations, and the private sector to spearhead reforms within the industrial sector. He emphasized that technology transfer and human capital development are critical components for securing enhanced technical and financial support for energy transformation initiatives, particularly in the areas of green hydrogen and renewable energy. His commitment to the forum’s objectives was clear as he expressed Guinea’s readiness to contribute practical solutions, share valuable insights, and foster collaboration among the countries represented at the event.
In addition to discussing immediate strategies, Prime Minister Bah outlined Guinea's long-term "Simandou 2040" vision. This ambitious initiative aims to promote sustainable industrial development by learning from global economic challenges. It places a strong emphasis on local manufacturing, infrastructure advancement, and a transition to renewable energy, including green hydrogen and hydropower. By tapping into the vast opportunities present in the African market, the vision seeks to strengthen regional partnerships and enhance intra-African trade.
Highlighting Guinea's strategic shift, Bah pointed out the nation’s rich natural resources in minerals and energy, which are crucial for its economic transformation. He noted that the forum aligns seamlessly with Guinea’s objectives to maximize its agricultural and mineral wealth through international collaboration and partnerships. Ultimately, the goal is to usher in a new era of growth focused on manufacturing, as Guinea aims to expand its global exports of bauxite and aluminum, positioning itself as a key player in the international market.