In the context of escalating geopolitical tensions, environmental challenges and rapid technological change, industrial policies – state-led strategic interventions designed to reshape an economy’s production structure – have made a comeback in both advanced economies and emerging markets. These policies seek to address global market failures such as climate change, foster economic growth, boost innovation and improve competitiveness. However, they have a mixed track record and pose complex challenges, which this panel will explore. Tis discussion examined whether and how emerging markets can use industrial policy to drive sustainable economic growth, diversify economies and enhance competitiveness while navigating global geopolitical uncertainty and avoiding the mistakes of the past. It also explored how these economies can manage the delicate balance between national competitiveness and international cooperation. Speakers: Richard Porter, MD, Communications, EBRD Beata Javorcik, Chief Economist, EBRD Jeromin Zettelmeyer, Director, Bruegel Bernardo Sestini, Chairman and Chief Executive Officer, SIAD Group Leslie Maasdorp, CEO of British International Investment