GENEVA, Switzerland- Agencies from Bahrain, India, Lesotho, and South Africa were on Monday, awarded the UN Investment Promotion Awards (IPAs) for excellence in boosting investment, helping countries meet the Sustainable Development Goals (SDGs).
The prizes were presented on the opening day of the 2018 World Investment Forum, organised by the United Nations Conference on Trade and Development (UNCTAD) and taking place in Geneva from Oct 22-26.
The awards showcase best practices in attracting investment into SDG-related projects, that can inspire investment promotion practitioners in developing and developed countries, said UNCTAD. "IPAs have a critical role to play in mobilising investment to achieve the SDGs," said UNCTAD's director of investment and enterprise, James Zhan.
"The award-winning agencies show that by mainstreaming the SDGs, IPAs can make a valuable contribution to social and economic development," said the official. The Lesotho National Development Corporation (LNDC), received its award for a large horticulture investment project, that will create 15,000 direct and indirect jobs.
South Africa's InvestSA was awarded for its instrumental role in facilitating two pioneering waste-to-nutrient recycling projects, to up-cycle organic waste into natural, sustainable high-protein animal feed.
EDB Bahrain was awarded for its role in attracting a large-scale regional data centre, which will provide cloud computing services in Bahrain and neighbouring countries, and the investor plans to employ 10,000 data-solution architects.
Invest India received its award for excellence in servicing and supporting a major global wind turbines company, in the establishment of a blade manufacturing plant in India, while committing to train local staff and produce one gigawatt of renewable energy.
The IPA Awards have been given annually since 2002, as part of UNCTAD's investment promotion and facilitation programme.
Source: NAM NEWS NETWORK