WAIPA was pleased to join as partner at the second ACP PSD regional meeting this year devoted to the West and Central Africa region with the main objective of information, knowledge sharing and networking held from 6 – 8 November in Dakar, Senegal.
The ACP-EU meetings aim is to provide an appropriate framework for bringing together the implementation agencies of ACP/EU financing facilities and Private Sector Development programmes on the one hand, and ACP PSD stakeholders on the other.
The event targeted following objectives:
- Provide information on intra-ACP PSD facilities and programs, those related to the European External Investment Plan (EIP), those managed by the EIB, and other EU facilities and programs for ACP countries.
- Discuss the key opportunities and conditions for the success of the European External Investment Plan (EIP).
- Provide a peer to peer learning and knowledge sharing platform for private sector development
- Ensure a high degree of interaction between private sector participants from ACP countries in the form of networking and / or B2B and investment / financing partnership, trade, and transfer of know-how and technology.
According to the most recent UNCTAD’s World Investment Report issued in June of 2019, the estimated global FDI flows were $1.3 trillion in 2018, which is 13% decline compared to the previous year. This is the third consecutive drop in FDI flows. FDI flows to developing economies remained stable, rising by 2 per cent to $706 billion, with significant differences among regions. Developing Asia and Africa however recorded higher FDI inflows in 2018, while FDI contracted in Latin America and the Caribbean.
When it comes to Africa, FDI flows expanded by 11 percent to $46 billion. This FDI rise in Africa occurred as a continuation of resource seeking investments.
WAIPA had a pleasure to organize Structured Investment Promotion for Professionals of Investment Promotion workshop together with WAIPA Consultative Committee member UNIDO and discussions with CEO of IPAs. The objective of the WAIPA workshop therefore was to share experiences about the role of IPAs and how can they further untap their potential and play a crucial role in attracting and facilitating FDI.
WAIPA Executive Director Bostjan Skalar presented best practices, insights and recommendations how IPAs can position themselves to react and respond to the upcoming trends. The session also discussed how a favorable investment climate paired with strengthened and empowered IPAs could lead to further sustainable economic growth and beneficial spillovers through FDI in ACP countries contributing directly to the welfare and prosperity.