Leading members of the global investment community gathered to meet sustainable development stakeholders as UNCTAD’s World Investment Forum commenced with a grand opening ceremony at the Palais des Nations, Geneva.

“There is a strong business case for investing in sustainability. Private sector approaches can help us to innovate,” UN Secretary-General Ban Ki-moon said in a welcoming address delivered by video. “At the same time, collaboration and partnership can ensure that investment in sustainable development is inclusive and aligned with the priorities of countries.

This Forum helps to forge such links.” Mr. Ban added: “You have the opportunity to contribute to improved livelihoods and well-being for billions of people over decades to come.”

President of Switzerland Didier Burkhalter, co-host of the grand opening with UNCTAD and the canton and city of Geneva, reiterated his government’s support for the objectives of UNCTAD in mobilizing private sector funding for sustainable development in partnership with the public sector.

“We need a strong and realistic ‘business plan’ to finance fair and efficient sustainable development,” Mr. Burkhalter said. “The latest UNCTAD World Investment Report has shown this and proposed an Action Plan that offers a promising path and underlines the need for innovation.”

United Nations Office at Geneva Acting Director-General Michael Møller said that discussions at the Forum were “not merely technical debates [but went] to the heart” of the mission of the entire United Nations. He welcomed the opportunity that the Forum gives to “break down silos” between public and private stakeholders in development.

UNCTAD Secretary-General Mukhisa Kituyi said that “already investors are more aware of opportunities in developing economies and, at the same time, countries are doing more to attract investment and ensure it makes a positive impact.”

“The Forum is an opportunity to consider solutions, to promote leadership in international investment and to influence the future direction of investing in sustainable development,” Dr. Kituyi said.

UN Development Programme Goodwill Ambassador and footballer Didier Drogba spoke about investment into infrastructure in his own country Côte d’Ivoire, and held it up as an example of the need for investment in the agricultural, demographic, industrial, educational and healthcare challenges in many countries.

“As much as we, people like myself, can do in raising charitable money and donations for these things, it will never be enough. We need real investment on a solid economic basis to make a real impact and to achieve the sustainable development goals.”

He addressed the participants of the opening by saying “you have to get serious. I expect it from you… Make it happen.”

Mr. François Longchamp, President of the Council of the State of Geneva, and Inter-Parliamentarian Union President Abdelwahad Radi were also present at the event. The Master of Ceremonies was James Zhan, Director, Division of Investment and Enterprise of UNCTAD.

The evening also saw the presentation of the Investment Promotion Awards 2014 and a musical performance by contemporary Swiss alphorn player and singer Eliana Burki.

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Investment agencies from Rwanda, South Africa, Trinidad and Tobago and the UK receive awards for attracting green foreign direct investment

 

The work of investment promotion agencies (IPAs) from around the world was recognized by four awards given for outstanding performance in attracting foreign direct investment (FDI) projects that support sustainable development during the grand opening of the UNCTAD World Investment Forum on 13 October 2014 at the Palais des Nations in Geneva.

The four winning agencies were invesTT from Trinidad and Tobago, the Rwanda Development Board, Trade and Investment South Africa, and UK Trade and Investment from the United Kingdom.

The awards were presented by the interim Prime Minister of Tunisia Mehdi Jomaa, President of the Swiss Confederation Didier Burkhalter, Inter-Parliamentarian Union President Abdelwahad Radi and UNDP Goodwill Ambassador Didier Drogba.

Thirty-one projects from 29 agencies had qualified for the awards. These agencies showed achievements in the areas of renewable energy, green manufacturing, waste treatment, electrical vehicles and green housing construction.

The IPAs received the awards for their role in attracting and facilitating these projects and their efforts in magnifying their economic, social and environmental impact, the Director of UNCTAD’s Investment and Enterprise Division, James Zhan, said.

Among those in attendance were United Nations Office in Geneva Acting Director-General Michael Møller, UNCTAD Secretary-General Mukhisa Kituyi, and the President of the Council of State of Geneva François Longchamp.

This year’s Investment Promotion Awards for excellence in promoting foreign direct investment for sustainable development come at a critical juncture as United Nations member States prepare to adopt a set of sustainable development goals (SDGs) for the period up to 2030.

The SDGs will encompass a wide range of economic, social and environmental objectives as well as measures aiming at climate change mitigation and adaption.

IPA executives, senior policy makers and business leaders from over 130 countries will carry forward the momentum created by the awards ceremony through discussing best practices and exploring means of attracting FDI for infrastructure projects, green growth, more and better jobs, and social development.