The Russian Investment Agency is a member of the world Association of Investment Agencies (WAIPA), founded in 1995 in Geneva
Central Asia on the investment map of the worldThe issues of attracting capital and improving business climates in Central Asia and the South Caucasus were discussed during the online event: "Strengthening the joint promotion of the Central Asian region", organized by the World Association of Investment Promotion Agencies (WAIPA) and Azeri agency AzPromo.
The online meeting was also attended by the leaders of WAIPA and the heads of investment promotion agencies from Russia, Kazakhstan, Azerbaijan, Georgia, Tajikistan and Uzbekistan. The leitmotif of the discussion were strategies for attracting investments during the economic crisis, as well as jointly promoting the investment attractiveness of the region.
WAIPA President Fahad Al Gergawi noted that amid the current economic crisis, accompanied by a recession and increased competition for investment flows, the role of investment attraction agencies will continue to grow. In this regard, it makes sense for the countries of the region to consider improving strategies to attract investment, and encourage close international cooperation in order to promote the region as a destination for international capital.
Executive Director, member of the Supervisory Board of the Russian Investment Agency Margarita Vasilyeva made a presentation on the need to strengthen the interaction of national investment agencies (IPAs) and implement active use of IPA in their work tools of the EurAsEC and the Caspian region in order to enhance investment flows between the countries of these unions and other countries.
Regional Director of WAIPA in Central Asia and head of AZPROMO Yusif Abdullayev spoke about the impact of the COVID-19 pandemic on global economic processes and certain regions of the world, as well as the trends that will determine policies for attracting investments in the near future. The speaker stressed that the countries of Central Asia and the South Caucasus need to form new approaches and develop new strategies for attracting investments, taking the current reality into account.
During the negotiations, the parties noted the importance of promoting not only national, but also regional investment attractiveness and agreed to further strengthen efforts to promote the region as a whole.
For reference: The World Association of Investment Promotion Agencies (WAIPA) was founded in 1995 in Geneva (Switzerland). Currently, the headquarters of the organization, which unites more than 100 members, is located in Istanbul (Turkey). The main tasks of WAIPA are the development of cooperation between investment promotion agencies, assistance to member organizations in advising their governments on investment attraction, technical assistance and training, strengthening and expansion of investment databases, as well as their effective use.