Accra, 23 April 2008 — Attendees at the World Investment Forum, which closed Tuesday, were cautiously upbeat about the near-term prospects for international investment flows and their contribution to the development process.
Among reasons for this optimism were expectations of sustained economic growth in emerging markets and continued expansion and diversification by companies worldwide. A consensus emerged that positive factors driving investment flows will outweigh negative developments, such as the slowdown in economic growth in some developed economies and the impact of the current credit crisis.
During the four-day World Investment Forum (WIF), 500 corporate executives, private investors, investment promotion professionals and high-level government officials from across the world explored investment opportunities and innovative policy measures to boost investment and accelerate sustainable development.
Current and former heads of state and CEOs of global companies addressed the opportunities and challenges emanating from the rapidly changing international investment landscape. Senior executives from corporations such as Bank of America, Hewlett-Packard, IBM, KPMG, SABMiller, Siemens, Standard Chartered Bank, China’s SINOTRAS and India’s 3i Infotech elaborated on the prospects for international investment, the global value chain and investment opportunities in Africa´s emerging market.
The highlight of the WIF was the Global Leaders´ Investment Debate. Corporate speakers underlined the investment opportunities and challenges arising from the second phase of globalisation. Government leaders and eminent persons shared best practices in investment policy-making, regarding attracting and benefiting from investment. Rajendra K. Pachauri, Nobel Peace Prize Laureate, urged adoption of a global carbon pricing mechanism to stimulate investment in clean technology. Mo Ibrahim, founder of Celtel, one of Africa’s largest mobile telecom companies, stated that good governance is a critical factor in securing investment and sustainable development. Ana Vilma Albanez de Escobar, Vice-President of El Salvador, emphasized the importance of a competitive investment environment and a well educated workforce, in particular for resource-poor countries. The 7th Investment Advisory Council, several business networking events and four capacity-building workshops embodied the pragmatic dimension of the WIF.
The Board of Investment of Mauritius won the World Association of Investment Promotion Agencies (WAIPA) Award presented in cooperation with UNCTAD, for contributing to the island’s success in attracting foreign direct investment through improvements in its investment environment. Ms. Sana Zaal Burgan of Med Grant, Jordan, won the Women in Business Awards.
The WIF concluded with a ministerial roundtable on creating an institutional environment conducive to investment and sustainable development – a follow-up of the 2007 G8 Summit Declaration.
The World Investment Forum was organized by UNCTAD in partnership with the WAIPA and in cooperation with the Ghana Investment Promotion Centre, the International Trade Centre and the International Chamber of Commerce.
Dr. Supachai Panitchpakdi, Secretary-General of UNCTAD, said that such a global investment debate should continue, as it propels understanding of the challenges and opportunities of making investment work for development. Tarja Halonen, President of Finland and Co-Chair of the UN Millennium Summit called the WIF a good example of a multi-stakeholder approach.
