The year 2023 will be a difficult year for the global economy, according to estimates by Khaldoun Al Mubarak, CEO of “Mubadala Investmentaffiliated to the Abu Dhabi government. Therefore, the company will focus on investment opportunities that serve longer-term goals.
Al-Mubarak said at the Global Policy Conference in Abu Dhabi, today, Saturday: “If you look at a one-year horizon, yes, the year 2023 will be harsh … with headwinds more than favorable winds in most places around the world.”
He added: “There will be significant valuation adjustments and pressures slack in many places around the world.. but I look at it with an eye to seizing opportunities,” in a period ranging between five and ten years.
Mubadala invests in the world’s largest private offshore wind energy development company
Al Mubarak said that, as a global investor, Mubadala will continue to pursue an investment approach that looks at long-term sustainable growth patterns and returns, and will continue to focus on sectors such as renewable energy and technology. He added that while I made Europe “a picture of the challenge”; Submitted India With its high population density, the growing middle class in its community and its economic trajectory, “an image in which you can see growth”.
Sectors remain like technology and switch in energy Wide scope for Mubadala.
Balanced energy portfolio
Mubarak said that UAEthe oil-producing country and a member of “OPEC”, which will host the United Nations Conference on Climate Change “COP 28” next year, is seeking a balanced portfolio in the field of energy production, which includes renewable as well as conventional energy sources.
On Thursday, Abu Dhabi announced a new structure for its pioneering company in the field of clean energy, Masdar, as the Abu Dhabi National Oil Company, the state-run ADNOC, and Taqa and Mubadala became shareholders, with Mubadala retaining its 33% stake.
Mubadala aims to increase its capacity to at least 100 gigawatts of renewable energy, mostly from Wind Energy Andsolar energyby 2030.