(c) Mobilization of domestic and foreign direct investment in Africa through investment and technology promotion activities and cooperation with other United Nations agencies and financial institutions

It also contributed to the Investment and Technology Promotion Office in Seoul to enable it to promote direct foreign investment and technology diffusion.

Service Module 2 Investment and technology promotion

Special attention will be given to promoting in developed countries the opportunities generated by and in connection with these integrated programmes, especially those focused on the development of trade capacities and sector enterprise upgrading.

This agency acts as a one stop shop and as the focal point for investment promotion activities.

(a) Interaction with WAIPA

The principal outputs of the investment promotion component comprise

The former include the decentralization of FDI promotion, the development of training programmes for staff involved in investment promotion, and initiatives to educate civil society about FDI and its development impact.

It also stressed its interest in the work on investor State dispute settlement and the activities of WAIPA and UNCTAD in the area of investment promotion.

It was also reported that UNCTAD had carried out an assessment of the investment promotion capacity of the national investment promotion agency (Agence Nationale de Développement de l'Investissement).

General description In developing countries, institutions for provision of public goods for investment promotion and accessing supply chain networks are often weak or do not exist, which means that market failures are often not addressed.

Progress has also been recorded in the plan of action on investment promotion activities

Joint high level session with WAIPA Attracting FDI in service clusters

The work of the World Association of Investment Promotion Agencies (WAIPA) was important in assisting developing countries in the definition of their investment promotion policies and in the creation of related agencies. Further collaboration between UNCTAD and WAIPA was called for.

He also emphasized GRULAC's support for the cooperation between UNCTAD and WAIPA.

The importance of the creation of the Proinversión agency in 2002 was stressed.

A network of independent investment promotion units had been created in Mediterranean countries with Italian support.

The representative of the World Association of Investment Promotion Agencies (WAIPA) expressed its appreciation for the format of simultaneous meetings of the Commission and the annual WAIPA conferences, and said that the interaction between policy makers and investment promotion practitioners created useful synergies for both events.

The involvement of the private sector, as well as the collaboration with WAIPA, was noted with appreciation.

The measures suggested by the IPR have been incorporated into the five year strategic plan of the Ghana Investment Promotion Centre (GIPC), and many of them have already been implemented.

It recommends that the secretariat further strengthen its programme on Good Governance in Investment Promotion (GGIP) and extend its assistance to more interested developing countries, in particular LDCs, in implementing measures to improve good governance in investment promotion.

The Investment Policy Review of Benin was presented on 2 November 2004 at the Expert Meeting on Good Governance in Investment Promotion.

Italy had always attached great importance to UNIDO investment promotion and technology transfer.

In addition to the technology related services provided under this service module, UNIDO recently established an Emerging Technologies Group (ETG) to oversee the Organization's programme of assistance to client countries in the areas of information and communication technology (ICT), biotechnology and hydrogen energy technologies.

The joint high level session of the World Association of Investment Promotion Agencies (WAIPA) with UNCTAD's Commission on Investment, Technology and Related Financial Issues focused on attracting FDI in service clusters.

Some experts stressed that policies had been traditionally oriented to attract FDI and were not really defined as promoting outward FDI.

(a) To promote and coordinate activities for the discovery, pursuit (follow up) and orbital calculation of NEOs at the international level

Examples of the latter could include provisions aimed at enterprise development, OFDI promotion programmes and outbound investment missions in conjunction with investment promotion authorities.

Report of the Expert Meeting on Good Governance in Investment Promotion (TD B COM.2 EM.15 3)

The Commission took note of the report of the Expert Meeting on Good Governance in Investment Promotion and the suggestions contained therein.

This could be achieved through UNCTAD's existing intergovernmental forum and by preparing short investment policy briefs aimed at policy makers and investment promotion agencies.

In the case of China, OFDI approval procedures have been simplified and the Investment Promotion Agency, established under the Ministry of Commerce, provides support in helping Chinese enterprises to invest abroad.

The Asian Group also stressed its interest in the work on investor State dispute settlement and the activities of WAIPA and UNCTAD in the area of investment promotion.

Experts underscored the significance of information technology for improving governance in investment promotion and the need to provide support to developing countries through programmes such as the UNCTAD Investment Gateway.

The Good Governance in Investment Promotion programme, the linkages programme, the Invest in Peace initiatives and the Blue Books were all designed to help countries in their efforts to implement the IPRs' recommendations.

WAIPA hoped that UNCTAD would remain its primary partner in investment and development, focusing on ongoing joint activities such as e government tools and the exchange of best practices related to IPAs.

The exchange of national experiences during the session had been most satisfactory, and also very beneficial. He underlined the link between investment and development in UNCTAD's cooperation with WAIPA.

The Commission also welcomes the Blue Books on Best Practice in Investment Promotion and Facilitation as an additional device to encourage timely implementation of recommendations.

The Office is actively promoting the distribution of the publication, which is both a guide for legislative drafters and a training tool for legislative assistance activities.

The same representatives have also recommended capacity building to enhance the use of technology and the Internet to disseminate information and to facilitate online dialogue between businesses, investment promotion agencies and other relevant government officials.

(c ) To promote and coordinate a ground network, the Spaceguard System, backed up by a possible satellite network, for discovery, observation and astrometric and physical follow up.

Belarus was interested in joint efforts to promote investment in high technology sectors and develop innovative entrepreneurship, metrology and standardization, and environmentally clean production.

In carrying out these functions, the secretariat should ensure synergies between its GGIP programme and other related activities of the Division and its work on investment policies, especially the investment policy reviews, which will help to ensure that the impact of such programmes is sustainable.

The Subcommittee noted with appreciation the reports by Member States on the promotion and organization of public outreach activities in celebration of World Space Week.

The first meeting the Expert Meeting on Good Governance in Investment Promotion took place in November 2004 and the second one the Expert Meeting on the Impact of FDI on Development in January 2005.