International Investment Support Centre for the Least Developed Countries – Giving shape to a new center to support LDCs with FDI promotion

8th WIF 2023 Premises, ADNEC in Abu Dhabi (https://worldinvestmentforum.unctad.org/)

Organized by United Nations Office of the High Representative for the Least Developed Countries, Landlocked Developing Countries and Small Island Developing States (UN-OHRLLS) in partnership with UNCTAD and WAIPA

As a group, the 46 least developed countries (LDCs) need more than $853 billion of FDI this decade to achieve the SDGs. In the first two years of this decade, they attracted just $48 billion. Recognizing that the SDGs remain far out of reach for many countries and that sustainable business investment has yet to be sufficiently mobilized, member states have asked the UN Secretary-General to explore the feasibility of establishing a center to support LDCs with FDI promotion (para 261 of the Doha Programme of Action).

In preparing this feasibility study, UN-OHRLLS is soliciting perspectives from IPAs, their public stakeholders, and the international organizations which provide them with technical, financial, and training support. At this WIF side event, participants will enjoy a panel discussion of key actors giving shape to the new center and be invited to contribute to this important global discussion at a crucial juncture.

Issues to be addressed

Panelists and participants will discuss the impetus behind UN member state interest in a centre to support LDCs with FDI promotion, as well as how it can be used to comprehensively and continuously answer the following four questions, mobilize support, and get on a path to the stimulation of transformational FDI:

1. What is the full suite of institutional and operational capacities a country needs to adequately stimulate FDI (e.g., promotion, project preparation, contract negotiation, dispute resolution, business environment reform, investment guarantees)?
2. How can an LDC government comprehensively and continuously assess itself for these capacities?
3. Which international organizations, IPA member organizations, research and training institutions, etc. can help LDCs fill the full range of investment-related capacity gaps and how?
4. How can LDCs systematically and strategically access and make full use of that help?

Documents

• Concept Note & Programme

Speakers

• Honorable Minister Ramesh Rizal, Minister of Industry, Commerce and Supplies, Nepal, LDC Group Chair
• Mr. James Zhan, UNCTAD Director of Investments and Enterprise
• Mr. Ismail Ersahin, Executive Director and CEO of WAIPA
• Mr. Taffere Tesfachew, Acting Managing Director of the UN Technology Bank for LDCs
• Mr. Carlos Griffin, Independent Consultant
• Moderator – Mr. Tomás Gonzalez, Programme Management Officer, UN OHRLLS

Possible outcome

The discussions that take place during this event will inform the range of feasible forms and functions considered for an international centre to support LDCs with FDI promotion, which will be presented in a report of the UN Secretary-General and decided by UN member states.