The week-long event brought together 8,000 participants, including government officials, international organizations, policy makers, 700 CEOs and investors, sovereign wealth funds, sustainable exchanges and key capital markets players.
Against the backdrop of a fragmented global economy, the forum discussed the profound impact on trade and investment, with foreign direct investment in a sustained decline, as evidenced by data from the first half of 2023.
UNCTAD Deputy Secretary-General Pedro Manuel Moreno said the downturn was “very worrying because less investment means less economic growth and fewer resources to achieve objectives. sustainable development goals – the SDGs.”
In particular, small island developing states, exemplified by the presence of Fiji’s Deputy Prime Minister Manoa Kamikamica, called for the use of blended finance and other ‘risk mitigation’ solutions to address financing gaps in debt-challenged countries, challenging international investment environment, financing conditions and persistent institutional and infrastructure shortcomings.
Foreign direct investment and COP28
In an effort to include the investment perspective in COP28 deliberations and finance a just transition, a call was made to include the forum’s investor conversations in discussions at the upcoming climate summit, as countries develop their new national climate action plans prepare by 2025.
New investment policy instrument
The forum also unveiled a range of new investment policy instruments, including the identification of 50 SDG model special economic zones, the launch of a multi-stakeholder platform for the reform of international investment agreements, and a partnership with the UN World Tourism Organization to set guiding principles to establish. for investments in sustainable tourism.
Partnerships with UNCTAD to boost investments in developing countries
Additionally, the forum saw the announcement of several strategic partnerships. These include collaborations with the African Sovereign Investors Forum, regional partnerships for sustainability reporting in Asia, the Gulf region and Eurasia, and an agreement between the stock exchanges of Malaysia, Indonesia and Thailand to launch a central sustainability platform for the Association of Southeast Asian Nations . region.
To boost investment, the forum introduced two new donor-funded technical assistance programs. First, a financing partnership with the German International Climate Initiative and GIZ, the German development agency, to support sustainability reporting and climate disclosure in developing countries.
Secondly, a €2.8 million partnership between Europe, the Organization of African, Caribbean and Pacific States and UNCTAD, aimed at strengthening investment facilitation capacity in Angola, Gambia, Nigeria, Suriname, Vanuatu, Zimbabwe and the wider Africa, Caribbean and Pacific. group of countries.
This partnership will provide essential support through digital government tools such as information portals and one-stop shops, streamlining administrative procedures for investors and promoting inclusive development. The project, which will run from October 2023 to September 2025, reflects a commitment to promoting investment facilitation and contributing to the SDGs.
The 9th World Investment Forum will take place in 2025.