Cleveland, Ohio, on September 26 WAIPA CEO Bostjan Skalar delivered a speech in the plenary Future Economic Development Panel. He addressed the need to propel sustainable FDI to reach SDG’s. Quality FDI is needed to contribute to economic development that will bring wellbeing to people.
Bostjan Skalar: “We are aware that FDI triggers technology spillovers, assists human capital formation, contributes to international trade integration, helps create a more competitive business environment and enhances enterprise development. All of these contribute to higher economic growth, which is the most potent tool for alleviating poverty in developing countries. And, more importantly, beyond the strictly economic benefits, FDI may help improve environmental and social conditions in the host country by, for example, transferring “cleaner” technologies and leading to more socially responsible corporate policies.”
Skalar pointed out that FDI has the potential to bring social and environmental benefits to host economies through the dissemination of good practices and technologies within MNEs, and through their subsequent spillovers to domestic enterprises.