VIENNA, 20 May 2016 – The United Nations Industrial Development Organization (UNIDO) and the World Association of Investment Promotion Agencies (WAIPA) will cooperate on joint programmes, various projects pertaining to strengthening the private sector, and engage in activities aimed at scaling up investments for inclusive and sustainable industrial development.
A memorandum of understanding on the partnership was signed in Vienna today by LI Yong, the Director General of UNIDO, and
Bostjan Skalar, CEO and Executive Director of WAIPA.
WAIPA is an autonomous, non-profit organization dedicated to investment promotion that aims to strengthen the development and capacity of investment promotion agencies around the world. It currently has 170 member agencies in 130 countries.
Considering UNIDO’s track record as an investment catalyst, the cooperation with WAIPA can be seen as a mutually beneficial alliance.
The partnership will be based on the shared belief that foreign direct investment has always been the key driver of economic growth and can play a pivotal role in a multi-stakeholder approach towards promoting inclusive and sustainable development. This will be done to boost not just investments, but achieve sustainable investments in support of decent jobs and the wellbeing of people.
The agreement signed between the two organizations will also strengthen the cooperation between WAIPA and UNIDO Investment and Technology Promotion Offices (ITPO). Currently, UNIDO has ITPO’s in Nigeria, Bahrain, China (Beijing and Shanghai), Italy, Japan, the Republic of Korea, and Russia.