DCO, WEF launch digital initiative to boost global investment flows

Under the Initiative, the DCO and WEF will launch digital FDI enabling projects in countries around the world. (DCO)
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Updated 25 May 2022
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DCO, WEF launch digital initiative to boost global investment flows

  • DCO, WEF signed an agreement on sidelines of the WEF annual meeting in Davos
  • Under the Initiative, the DCO and WEF will launch digital FDI enabling projects in countries around the world

LONDON: The Digital Cooperation Organization and the World Economic Forum launched a Digital Foreign Direct Investment Initiative today at the WEF annual meeting in Davos to boost global foreign direct investment in the digital economy.

The agreement stipulates that the DCO and WEF work together to identify methods to increase digital adoption, investment in new digital activities, and investment in digital infrastructure.

Additionally, the DCO and WEF will conduct research to contribute to global understanding of the regulatory challenges currently preventing countries from realizing the full potential of digital FDI.

Under the Initiative, the DCO and WEF will launch digital FDI enabling projects in countries around the world, helping them identify and support implementation of policies and measures to increase investment in the digital economy, in addition to facilitating knowledge-sharing of successful reforms among countries.

Commenting on the launch, Borge Brende, president of the WEF, said “Global FDI is rebounding, following the COVID-19 pandemic, and investment in the digital economy could not come at a better time. These country projects will help grow FDI into the digital economy, which is key for long-term growth, competitiveness, and sustainable development.”

The DCO, which focuses on digital economy initiatives supporting youth, startup entrepreneurs and women, has nine member states with a combined GDP of nearly $2 trillion and a population of nearly 600 million.

According to the WEF, DCO member states provide a valuable market opportunity to investors and entrepreneurs alike.

“As the first and only global multilateral focused on enabling digital prosperity for all, the DCO is partnering with the WEF on a Digital FDI Initiative to help countries develop digital FDI-friendly investment climates,” DCO Secretary-General Deemah AlYahya commented.

“We invite digital innovators with a commitment to economic development and inclusion to join us.”

Isa Ali Ibrahim Pantami, minister for communications and digital economy of Nigeria, a DCO member state and one of the countries where digital FDI enabling projects will be implemented, said: “The digital economy cannot be developed in silos. There is a need for partnership, collaboration and support, and this what the DCO aims to do, by supporting regulation to support development.

“Through the Digital FDI initiative, we are continuing our mission to encourage collaboration and partnership not just between governments, but also investors, policymakers, academics, and everyone involved in the digital economy.”

 


Foreign media group slams Israel for refusing to lift Gaza press ban

Updated 07 January 2026
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Foreign media group slams Israel for refusing to lift Gaza press ban

  • Foreign Press Association expresses 'profound disappointment' with Israeli government’s response to a Supreme Court appeal
  • Israel has barred foreign journalists from independently entering the devastated territory since the war started

JERUSALEM: An international media association on Tuesday criticized the Israeli government for maintaining its ban on unrestricted media access to Gaza, calling the move disappointing.
The government had told the Supreme Court in a submission late Sunday that the ban should remain in place, citing security risks in the Gaza Strip.
The submission was in response to a petition filed by the Foreign Press Association (FPA) — which represents hundreds of journalists in Israel and Palestinian territories — seeking immediate and unrestricted access for foreign journalists to the Gaza Strip.
“The Foreign Press Association expresses its profound disappointment with the Israeli government’s latest response to our appeal for full and free access to the Gaza Strip,” the association said on Tuesday.
“Instead of presenting a plan for allowing journalists into Gaza independently and letting us work alongside our brave Palestinian colleagues, the government has decided once again to lock us out” despite the ceasefire in the territory, it added.
Since the outbreak of the Gaza war in October 2023, triggered by an attack on Israel by the Palestinian militant group Hamas, the government has barred foreign journalists from independently entering the devastated territory.
Instead, Israel has allowed only a limited number of reporters to enter Gaza on a case-by-case basis, embedded with its military inside the blockaded Palestinian territory.
The FPA filed its petition in 2024, after which the court granted the government several extensions to submit its response.
Last month, however, the court set January 4 as a final deadline for the government to present a plan for allowing media access to Gaza.
In its submission, the government maintained that the ban should remain in place.
“This is for security reasons, based on the position of the defense establishment, which maintains that a security risk associated with such entry still exists,” the government submission said.
The government also said that the search for the remains of the last hostage held in Gaza was ongoing, suggesting that allowing journalists in at this stage could hinder the operation.
The remains of Ran Gvili, whose body was taken to Gaza after he was killed during Hamas’s 2023 attack, have still not been recovered despite the ceasefire.
The FPA said it planned to submit a “robust response” to the court, and expressed hope the “judges will put an end to this charade.”
“The FPA is confident that the court will provide justice in light of the continuous infringement of the fundamental principles of freedom of speech, the public’s right to know and free press,” the association added.
The Supreme Court is expected to issue a ruling on the matter, though it is unclear when a decision will be handed down.
An AFP journalist sits on the board of the FPA.