UAE chosen to host first-ever meeting of World Association of Investment Promotion Agencies in MENA region

Published March 15th, 2010 - 09:05 GMT

The UAE has been chosen to host the World Association of Investment Promotion Agencies (WAIPA) Regional Meeting for Middle East and North Africa, the first event of its kind in the region, during which WAIPA members, international organizations and multinational companies from different countries are expected to discuss critical issues concerning the investment environment and the challenges faced by investment promotion agencies (IPAs) in the MENA region. Hosted by the Foreign Investment Office of the Department of Economic Development of Dubai, in cooperation with WAIPA and Apex-Brasil, the Brazilian Trade and Investment Promotion Agency, which currently holds the presidency of WAIPA, the regional meeting will be held at the Grand Hyatt Hotel Dubai on March 22, 2010.
The event is a timely initiative that will complement the improving confidence level of investors in the MENA region, as countries such as the UAE, Saudi Arabia and Egypt have been recognised as among the world's top 25 destinations of foreign direct investments (FDI). The UAE has been particularly impressive as it is ranked 11th globally and is at the top of the Middle East rankings.

Alessandro Teixeira, WAIPA President and Head of Apex Brasil, said: "The core objective of WAIPA is to enhance the professional expertise and ability of investment promotion agencies all over the world. The MENA has emerged as a highly attractive investment destination because of the resiliency of the regional economy and the region's enormous investment potential. The regional meeting will open a dedicated and convenient platform for regional IPAs to network and share best practices with their global counterparts, which will ultimately help enhance the investment environment of the region."

Prominent regional and international personalities will attend the WAIPA Regional Meeting, including heads of state, senior government officials and CEOs of different multinational companies. Some of the key topics to be discussed during the regional meeting include "Experience Sharing: IPAs and Policy Change in the Middle East", "Meeting the Challenge: IPAs and the Task of Overcoming Social and Cultural Barriers to Investment", "Problem Solving: Data Gathering and Treatment by MENA IPAs", and the “Future Landscape Investment for MENA region”. The event will also provide an unprecedented opportunity for networking and one-on-one meetings.

Established in 1995, the WAIPA is registered as a non-governmental organisation (NGO) in Geneva, Switzerland with around 250 member agencies from all over the world. WAIPA constantly seeks to improve cooperation among IPAs on a regional and global scale and facilitate the exchange of experiences in attracting FDI.

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