Enhancing Investment Promotion Capacities in Francophone LDMCs

Jeddah, Kingdom of Saudi Arabia, 1 June 2022 - A virtual meeting took place to kick start the implementation of the program “Enhancing Investment Promotion Capacities in Francophone Least Developed Member Countries (LDMCs).”

On 1st June 2022, representatives from the Regional Cooperation and Integration (RCI) Department through the Investment Promotion Technical Assistance Program (ITAP), the World Association of Investment Promotion Agencies (WAIPA) and the Enhanced Integrated Framework (EIF) held a meeting to discuss the implementation plan, action plan and updated timeline. The meeting was also an opportunity for the project team to share their expectations regarding the program outcomes as well as its impact and benefits.

The partners agreed upon the dates of the launching event (June-July 2022) and the first workshop would take place on the sidelines of the 26th World Investment Conference (WIC) in September 2022 in Geneva.

Furthermore, the RCI team emphasized the importance of seeking creative ways to ensure significant contributions to the skills and capacities of participating Francophone LDMCs IPAs and NIUs and their technical knowledge.

The overall objective of the program is to improve the capacity of Investment Promotion Agencies (IPAs), National Implementation Units (NIUs), and other government officials in francophone LDMCs to attract and facilitate sustainable investments.

The program will focus mainly on what IPAs can improve to attract and facilitate sustainable foreign investments and improve the business climate and leverage additional resources to meet the sustainable development goals (SDGs) targets.

It also encourages and facilitates dialogue and cooperation with relevant ministries and local stakeholders as well as with relevant international organizations for investment promotion in the francophone countries. The impact on global investment trends and inflows into LDCs will also be taken into account, and related challenges and opportunities will be identified and addressed.

The program will involve training workshops and roundtable discussions, case studies and also testimonials from foreign investors and how they see the role of IPAs to better address their needs. It is scheduled to be completed in mid-2023 and is co-financed by the EIF, WAIPA, and IsDB.