GMIS and Austrian Economic Chambers align to drive Global Economic Development

18 Mar 2017
  • Memorandum of Understanding to prompt growth in manufacturing and industrial sectors through knowledge transfer and informed policy-making
  • Shared best practices to provide Global Manufacturing and Industrialisation Summit partners and delegates with solid base to capitalize on the Fourth Industrial Revolution

Vienna, Austria: The Global Manufacturing and Industrialisation Summit (GMIS) and the Austrian Economic Chambers have signed a Memorandum of Understanding (MoU), that will see the two organisations working together at a strategic level to promote the Fourth Industrial Revolution (4IR) throughout the manufacturing and industrial sectors. The MoU highlights both parties’ aims to create regulatory and policy landscapes that support innovation and entrepreneurship – which in turn boost economic growth and employment creation – through a programme of knowledge transfer and sharing of best practices.

The MoU was signed by Dr. Richard Schenz, Vice President of the Austrian Economic Chambers, and Badr Al-Olama, Chief Executive Officer, Strata Manufacturing, and Head of the Global Manufacturing and Industrialisation Summit Organising Committee

The Austrian Economic Chambers represents more than 450,000 member companies and is committed to supporting forward-looking policies which benefit the economy – including reducing levels of bureaucracy and cutting red tape.As a partner of the Global Manufacturing and Industrialisation Summit, the Austrian Economic Chambers joins a global network of industry and trade bodies that are working together, through the Summit,to address common themes and seize new opportunities for manufacturing and industry stemming from the Fourth Industrial Revolution (4IR) and associated technologies, including the Industrial Internet of Things (IIoT).

Dr. Richard Schenz, Vice President, the Austrian Economic Chambers, said: “As a representative body of business in Austria, it is the duty of the Austrian Economic Chambers to explore opportunities and challenges that our members may face in the coming years. The Fourth Industrial Revolution is reshaping the way in which manufacturers and industries operate, and it is therefore in the best interests of everyone within these sectors to pursue avenues that will enable us to collectively explore these new technologies. As a platform for knowledge sharing and policy discussion, GMIS is a much-needed event to steer the future of global industry, and we are pleased to be part of this landmark summit.”

The inaugural Global Manufacturing and Industrialisation Summit will be held at the Paris-Sorbonne Abu Dhabi, UAE, from March 27-30, 2017. A joint initiative by the UAE Ministry of Economy and the United Nations Industrial Development Organization (UNIDO), and co-hosted withthe Abu Dhabi Department of Economic Development, the Summit will be held under the patronage of His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces. The Summit is the world’s first global gathering for the manufacturing community, bringing together 1,200 decision making from governments, businesses, and civil society organisations to shape a vision for the future.

Badr Al-Olama, Chief Executive Officer, Strata Manufacturing, and Head of the Global Manufacturing and Industrialisation Summit Organising Committee, said: “Organisations such as the Austrian Economic Chambers are important partners for GMIS, as they are not only involved in shaping policy in their home countries, but they connect directly with leaders and entrepreneurs who have the most to gain by adapting their businesses to 4IR technologies. While GMIS encourages discussion on policies, challenges and opportunities that the next industrial era presents, it is also a platform for sharing knowledge and best practices. This ensures that manufacturers across the world – regardless of whether they are in a developed or emerging market –  can equally capatilize on the benefits of the technologically-driven era.”

The Global Manufacturing and Industrialisation Summit is a global platform for participating attendees to learn from best practices from across the world. This unprecedented global gathering will spark new ideas and set the stage for debate and action – addressing ways in which manufacturing can shape and reshape the world, integrating activities between developed and emerging markets, and delivering on social responsibility towards future generations.Leaders from the public and private sectors, along with representatives from civil society organizations, will gather to discuss global challenges within the manufacturing sector, looking specifically at six themes: technology and innovation; global value chains; skills, employment and education; sustainability and environment; infrastructure; standards; and stakeholder alignment.

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