Monday 27, November 2017 by Jessica Combes

World Investment Conference to empower investment promotion agencies

 

Leaders and experts in foreign direct investment (FDI) are gathering at the 22nd annual World Investment Conference (WIC17), the flagship event of the World Association of Investment Promotion Agencies (WAIPA).

The event will be hosted by Dubai Investment Development Agency (Dubai FDI), an agency of Dubai Economy and WAIPA Steering Committee Member, at the InterContinental Dubai Festival City, from 27 to 28 November 2017.

The annual meeting, held under the theme ‘FDI as a driving force for sustainable development,’ will bring together over 100 leading investment promotion agencies (IPAs) from all around the world, international organisation’s leaders, heads of financial institutions, leading political figures, private sector representatives, prominent economists and researchers.

The agenda is focused on issues of Corporate Investment Drivers, Challenges and the Future of FDI; Growth and Entrepreneurship through Linkages and Empowerment of Investment Promotion Agencies in Least Developed Countries (LDCs). The conference will also support Sustainable Development Goals (SDGs) by creating a positive investment environment. This would create macroeconomic impacts related to economic growth and generate employment worldwide as well as contribute to much needed global peace and stability.

“The philosophy at work behind WAIPA’s operations is to improve understanding and cooperation with and among each of its members, multi-level stakeholders interested in working with those members and global institutions,” said Arda Ermut, President of WAIPA and President of the Investment Support and Promotion Agency of Turkey. 

At last year’s WIC in Istanbul, it was emphasised that WAIPA has the crucial role as an informative intermediary between IPAs and governments to help increase Foreign Direct Investments (FDI) as they are vital to maintaining and strengthening economic growth, boosting technological innovation that add to the productive capacity to the global economy.

“Dubai FDI is delighted to host the World Investment Conference as the event as well as the theme is synonymous with the emirate’s success as an investment destination and strategic goal to remain as the foremost enabler of sustainable economic development. As a WAIPA Steering Committee Member, Dubai FDI has been working closely with various stakeholders worldwide on innovative initiatives to channel investments into sustainable progress and prosperity. The World Investment Conference 2017 will be a valuable opportunity for everyone attending to receive updates and inputs on the most effective investment promotion strategies,” said Fahad Al Gergawi, CEO of Dubai FDI.

Closely working together with international organisations such as UNCTAD, UNIDO, OECD, ILO, IEDC, ICC and the World Bank and opinion formers such as Jeffrey Sachs, Special Adviser to the UN Secretary-General on the SDGs, Professor of Sustainable Development and Professor of Health Policy and Management at Columbia University enables WAIPA to create linkages and to be an active voice for investment promotion.

WIC17 will include a general assembly meeting, followed by WAIPA Steering Committee elections. November 28 will specifically be dedicated to the Conference where delegates will have the opportunity to listen not only from world renowned leaders, academicians, but also global companies and decision makers. Special address and keynotes are expected by Prof Jeffrey Sachs, as well as Consultative Committee Members.

The conference will also include a workshop on sustainable investments. Participants will get an insight from FDI Advisor, Andreas Dressler on opportunities and tools for mobilising investment in support of the Sustainable Development Goals (SDGs), including green FDI, as well as advice on institutional and strategic changes, empowerment of IPAs and their corporate development to enhance IPAs capacities, for them to use FDI as a driving force for sustainable development. They will also have the opportunity to hear best practice experience by selected IPAs and a presentation by CNBC on their FDI research in collaboration with WAIPA.

 

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