WAIPA and UNCTAD put sustainable investments on the agenda of the World Investment Forum #WIF2016

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July 19, 2016, Nairobi, Kenya – With the promise towards continued collaboration, UNCTAD and WAIPA organized a Workshop on Investment Promotion after the launch of the World Investment Forum 2016. This workshop in which over 150 investment officials and other stakeholders participated discussed data on investment promotion; best practices for investment efficiency and the role of investment agencies in promoting Sustainable Development Goals (SDGs).

The workshop highlighted the need for investment agencies to be empowered by governments; to identify the best methods of facilitating investments and how sustainability needs to be factored in when letting in investments into host countries. WAIPA CEO, Bostjan Skalar said, “We have a responsibility to enable investment agencies to have the right assessment tools to quality check FDI.”

Bostjan Skalar’s thoughts were shared by UNCTAD Director of Investment and Enterprise, James Zhan, who reaffirmed that the joined partnership between UNCTAD and WAIPA will assist in making sustainable investments a reality.

In an awards ceremony, UNCTAD presented a memento to Bostjan Skalar. This was for WAIPA’s tireless efforts to make IPAs the center of all investment decisions within governments. As a result, private sector investors across different regions find the investment process more effortless and business-centered as opposed to being overly bureaucratic.

Bostjan Skalar also participated on a High-level Tripartite Conference in Investment Promotion in the Sustainable Development Goals. He spoke about the role of non-traditional investments such as sovereign wealth funds and pension funds in propelling SDGs.

In a Leader’s Luncheon Bostjan Skalar said, “IPAs have the potential to act as ombudspersons to facilitate #FDI.”

On the sidelines of the #WIF2016, WAIPA held an institutional meeting with its steering committee. This committee is formed by investment agencies from different regions across the globe. The Vice President of WAIPA, Rufat Mammadov from Azerbaijan’s investment agency, Azpromo, awarded James Zhan with a certificate of appreciation on behalf of WAIPA. As the newly appointed Chief Strategic Advisor of WAIPA, James Zhan stated, “We need to work together to create a new narrative on investment promotion.”

More on WAIPA: www.waipa.org

More on UNCTAD: www.unctad.org