Dubai investment-oriented program launched in Davos

The emirate’s Hamdan Centre and the World Association of Investment Promotion Agencies announced an initiative designed to help said agencies find external funding for sustainable development efforts.

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Davos – Hamdan Centre for the Future of Investment (HCFI) in Dubai, UAE and the World Association of Investment Promotion Agencies (WAIPA) launched this Wednesday (23) during the World Economic Forum in Davos, Switzerland a program designed to provide training to investment promotion agencies (IPAs), Emirates News Agency (WAM) reported.

The Hamdan Centre was created last year to encourage foreign direct investment (FDI) in sustainable development projects. The organization is directed by Fahad Al Gergawi, who’s also CEO of the Dubai Investment Development Agency (Dubai FDI).

The program launched in Davos is called IPAs Capacity 2030. The year is a reference to deadline for implementation of the United Nations Sustainable Development Goals (SDGs). The project will see training provided to agencies so they can find resources – FDI is seen reaching USD 15 trillion by 2030.

“IPAs’ focus on SDGs related FDI attraction and facilitation, will not only defy the declining trend of global FDI flows, but will also help to drive FDI capital flows to unprecedented levels, estimated to reach US $ 15 trillion globally by 2030,” WAM quoted Waipa executive director Bostjan Skalar as saying.

The highest FDI flows on record came in 2007 at USD 1.9 trillion. That mark is yet to be surpassed.

Investment promotion agencies are in existence in several countries. The Brazilian Trade and Investment Promotion Agency (Apex-Brasil) is a case in point.

WAM said the program will focus on three areas: Absorptive Capacity, to develop a portfolio of investor-ready SDG projects; Institutional Capacity, related to the ability to attract and benefit from investments in SDG-relevant sectors; and Professional Capacity, to create or access new markets, technology, products, services and business model innovations that contribute to the SDGs.

A workshop next April will address how to engage young and talented professionals into the FDI industry.

Translated by Gabriel Pomerancblum

World Economic Forum/Benedikt von Loebell

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