With foreign direct investment (FDI) into Middle East and North Africa (Mena) declining 44 per cent (from $77 billion to less than $43 billion) between 2010 and 2012, the number of projects dropping by one fifth, there is need to review the strategies to combat the new challenges in order to attract more FDI, said an expert from World Bank Group.
Making a presentation at a conference on 'Opportunities and challenges for FDI attraction in Mena' Robert Whyte from the Investment Climate Department of the World Bank Group spoke extensively about seizing the potential for better investment facilitation in Mena. Sayyid Saud bin Hilal bin Hamad al Busaidi, Minister of State and Governor of Muscat and Hamood Sangour Al Zadjali, executive president of the Central Bank of Oman graced (CBO) the inauguration ceremony.
Robert Whyte said, "Better facilitation by Investment Promotion Intermediaries (IPIs) can help increase FDI inflows into Mena.
Among different IPI functions, the provision of information to support and influence investor decision making — investment facilitation — is crucial to catalyse potential investor interest and lower perceived country risk.
Global Investment Promotion Best Practices (GIPB) replicates the decision-making process commonly followed by foreign companies during the early stages of their location-screening process. GIPB evaluates the two most important sources of IPI information provision.
Earlier, making opening remarks, His Highness Sayyid Faisal bin Turki Al Said, director-general of marketing and media, the Public Authority for Investment Promotion and Export Development (Paiped) Oman said, "From GCC perspective, and between 2002 and 2010, FDI — both through regular channels as well as foreign stock investments — increased dramatically, at a pace that rivalled other developing, transition and emerging economies.
Read more: http://www.gulfbase.com/news/call-to-review-strategies-to-attract-fdis-in-mena/228496
Making a presentation at a conference on 'Opportunities and challenges for FDI attraction in Mena' Robert Whyte from the Investment Climate Department of the World Bank Group spoke extensively about seizing the potential for better investment facilitation in Mena. Sayyid Saud bin Hilal bin Hamad al Busaidi, Minister of State and Governor of Muscat and Hamood Sangour Al Zadjali, executive president of the Central Bank of Oman graced (CBO) the inauguration ceremony.
Robert Whyte said, "Better facilitation by Investment Promotion Intermediaries (IPIs) can help increase FDI inflows into Mena.
Among different IPI functions, the provision of information to support and influence investor decision making — investment facilitation — is crucial to catalyse potential investor interest and lower perceived country risk.
Global Investment Promotion Best Practices (GIPB) replicates the decision-making process commonly followed by foreign companies during the early stages of their location-screening process. GIPB evaluates the two most important sources of IPI information provision.
Earlier, making opening remarks, His Highness Sayyid Faisal bin Turki Al Said, director-general of marketing and media, the Public Authority for Investment Promotion and Export Development (Paiped) Oman said, "From GCC perspective, and between 2002 and 2010, FDI — both through regular channels as well as foreign stock investments — increased dramatically, at a pace that rivalled other developing, transition and emerging economies.
Read more: http://www.gulfbase.com/news/call-to-review-strategies-to-attract-fdis-in-mena/228496
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