The Digital Transformation of Investment Promotion Agencies
Investment promotion agencies (IPAs) have been adopting new ways of working online and using digital tools, a process accelerated by the COVID-19 pandemic.
To date, most digital tools used by IPAs relate to their investment promotion functions, such as marketing and investor targeting. But, in line with wider e-government efforts, digital tools and processes are increasingly being used by IPAs across the whole investment cycle, including to facilitate site selection, streamline administrative tasks related to investment, support enterprise development and linkages with local suppliers, and to receive investor feedback and grievances.
To remain competitive, IPAs need to enhance their digital investment promotion and facilitation efforts, but not all are on a leveled digital playing field.
Those with low levels of preparedness, like many IPAs in LDCs, risk falling behind. This issue of the IPA Observer is part of UNCTAD's ongoing efforts to support these agencies, particularly from the poorest countries, in their digital transformation.