Dubai: Conference to Empower Investment Promotion Agencies

Leaders and experts in foreign direct investment, FDI, are gathering at the 22nd annual World Investment Conference, WIC17, the flagship event of the World Association of Investment Promotion Agencies, WAIPA, hosted by Dubai Investment Development Agency, Dubai FDI, an agency of Dubai Economy and WAIPA Steering Committee Member, at the InterContinental Dubai Festival City.

The annual meeting, held under the theme, "FDI as a Driving Force for Sustainable Development," will bring together over a hundred leading investment promotion agencies, IPAs, from all around the world, international organisation’s leaders, heads of financial institutions, leading political figures, private sector representatives, prominent economists and researchers.

The agenda is focussed on issues of Corporate Investment Drivers, Challenges and the Future of FDI, and Growth and Entrepreneurship through Linkages and Empowerment of Investment Promotion Agencies in Least Developed Countries, LDCs.

The conference will also support Sustainable Development Goals, SDGs, by creating a positive investment environment.

This would create macroeconomic impacts related to economic growth and generate employment worldwide as well as contribute to much-needed global peace and stability.

"The philosophy at work behind WAIPA’s operations is to improve understanding and co-operation with and among each of its members and multi-level stakeholders interested in working with those members and global institutions," said Arda Ermut, President of WAIPA and President of the Investment Support and Promotion Agency of Turkey.

Fahad Al Gergawi, CEO of Dubai FDI, commented, "Dubai FDI is delighted to host the World Investment Conference as the event as well as the theme is synonymous with the emirate’s success as an investment destination and its strategic goal to remain the foremost enabler of sustainable economic development.

"As a WAIPA Steering Committee Member, Dubai FDI has been working closely with various stakeholders worldwide on innovative initiatives to channel investments into sustainable progress and prosperity.

The World Investment Conference 2017 will be a valuable opportunity for everyone attending to receive updates and inputs on the most-effective investment promotion strategies."

At last year’s WIC in Istanbul, it was emphasised that WAIPA has a crucial role as an informative intermediary between IPAs and governments to help increase FDI, as it is vital to maintaining and strengthening economic growth and boosting technological innovation that adds to the productive capacity of the global economy.

Closely working together with international organisations such as UNCTAD, UNIDO, OECD, ILO, IEDC, ICC and the World Bank and opinion formers such as Jeffrey Sachs, Special Adviser to the UN Secretary-General on the SDGs, Professor of Sustainable Development and Professor of Health Policy and Management at Columbia University, enables WAIPA to create linkages and be an active voice for investment promotion.

WIC17 will include a general assembly meeting, followed by WAIPA Steering Committee elections. Special address and keynotes are expected by Prof Sachs, as well as Consultative Committee Members.