The World Association of Investment Promotion Agencies (WAIPA) has finalized the first part of the project co-funded by EIF “Capacity Building for EIF countries on Investment Promotion” within WAIPA activity aiming to improve the capacities of investment and trade professionals in LDCs and to enhance their cooperation.
After the completion of the first set of workshops with participation of around 170 officials from 20 LDCs, WAIPA organized together with the EIF a valedictory session to review the current progress and to discuss further projects with a project team consisting of ITC-ILO, UNCTAD, UNIDO, UN-OHRLLS who have come together to establish a targeted programme aimed at actively assisting IPAs and trade officials from LDCs by providing tailored capacity building activities.
“The EIF is proud to be collaborating with WAIPA on this project, which is strengthening the capacity of the world’s poorest countries to attract investment and build back better in context of COVID-19. Foreign Direct investment, in particular, presents huge potential to bridge domestic resource gap and spur growth in LDCs. The expertise developed through this joint initiative provides an important opportunity for LDC representatives to harness its potential.” said Dr. Ratnakar Adhikari, the Executive Director of the Enhanced Integrated Framework Executive Secretariat at the World Trade Organization
“WAIPA’s initiative to help build the FDI capacity of the Least Developed Countries (LDCs) at the professional and institutional levels embodies our mission and values. Thanks to EIF (Enhanced Integrated Framework) support, WAIPA’s training programs has been a tremendous success and delivered the needed technical support to 20 LDCs in their journey to improve the business climate, attract sustainable investment and leverage investment in trade priority sectors. We are glad that this program is expanding with a multi-agency partnership to support WAIPA’s commitment to LDCs progress and success.” underlined WAIPA President H.E. Fahad Al Gergawi. This project is part of an ongoing close collaboration between the EIF and WAIPA. Together with leading international organizations in our Consultative Committee in the field, WAIPA works to achieve and to promote good practices and improve the quality of services of IPAs and their collaboration with other investment and trade related institutions, comparable to international standards. It also functions as a platform for exchange of information and provides capacity building through advocacy for technical and financial assistance with the aim of creating more empowered, efficient, and successful IPAs. Today’s valedictory session is not end but a beginning of combined efforts for the utmost benefit of our colleagues from LDCs in partnership with esteemed partners UNCTAD, UNIDO, ILO and UN-OHRLLS.
In the workshop, participants from Rwanda, Bangladesh, Bhutan on behalf of 20 LDCs shared their insights and learnings from the course. Moreover, a presentation of the Inter-Agency Project was given by Stephania Bonilla-Feret, Senior Economic Affairs Officer, Investment Promotion & Facilitation for Sustainable Development, United Nations Conference on Trade and Development (UNCTAD).
Recording of the session is available here: https://rb.gy/7uvnrh
WAIPA currently has members from 130 countries and the Consultative Committee is formed by international organisations such as UNCTAD, UNIDO, OECD, ILO, IEDC, ICC and the World Bank. WAIPA also cooperates with key opinion formers such as Islamic Development Bank, EBRD and World Economic Forum.
Through its wide range of activities, WAIPA provides the opportunity for IPAs to network and exchange best practices in investment promotion, investment facilitation and advocacy. WAIPA has always dedicated, and continues to dedicate, time and effort towards building the human resources capacity of its Member agencies. Trainings, workshops, conferences as well as seminars/webinars have been organized by WAIPA, alone or in coordination with partner organizations. Membership is open to all entities the primary function of which is “to promote any country, political sub-division of a country or other uncontested territory, as a destination for, or source of investments”.
For more information, visit www.waipa.org
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The Enhanced Integrated Framework (EIF) is the only multilateral partnership dedicated exclusively to assisting least developed countries (LDCs) in their use of trade as an engine for growth, sustainable development and poverty reduction. The EIF partnership of 51 countries, 24 donors and 8 partner agencies works closely with governments, development organizations, civil society and academia. Together we leverage our collective know-how, reach and reputation to tackle the world’s most pressing trade-for-development issues.
For more information, visit www.enhancedif.org