Potential foreign investors briefed AT LDC-IV conference on opportunities in Benin, Comoros, Lao people’s democratic republic and Zambia / Investment Showcases event highlights countries “with huge potential which often have remained below investors’ radar,” UNCTAD Secretary-General says

 

 

 

Potential foreign investors briefed AT LDC-IV conference on opportunities in Benin, Comoros, Lao people’s democratic republic and Zambia / Investment Showcases event highlights countries “with huge potential which often have remained below investors’ radar,” UNCTAD Secretary-General says

 

 

ISTANBUL, Turkey, May 11, 2011/African Press Organization (APO)/ — Officials of Benin, Comoros, the Lao People’s Democratic Republic and Zambia have briefed potential investors on opportunities and operating conditions in their respective countries.

 

The Investment Showcases event was staged during the Fourth United Nations Conference on the Least Developed Counties (LDC-IV), and was jointly organized by UNCTAD and the International Chamber of Commerce (ICC).

 

The session was opened by UNCTAD Secretary-General Supachai Panitchpakdi and by International Chamber of Commerce (ICC) Secretary-General Jean-Guy Carrier.

 

“These are countries with huge potential but which have often remained below investors’ radar,” Mr. Supachai said. “These are also countries that have undertaken important economic and regulatory reforms, which have made it both easier to invest in these countries and to protect investments.”

 

Four 35-minute presentations were followed by government officials describing the investment opportunities in each country. UNCTAD/ICC investment guides for the countries were introduced, too.

 

Speaking on behalf of Benin was Antonin Dossou, Director of the Office of the Minister of State in Charge of Development. Making the presentation for Comoros was Moussa Abderemane, Minister of Industry, Work, Employment, and Women’s Entrepreneurship. Speaking on investment opportunities in the Lao People’s Democratic Republic was Bounthavy Sisouphanthong, Vice-Minister of Planning and Investment. The presentation on Zambia was made by Situmbeko Musokotwane, Minister of Finance and National Planning.

 

The overall message from the officials was that LDCs may be poor with regard to their gross domestic products and the financial resources necessary to support sustained growth and reduce poverty — thus creating a strong need for investment for development – but these countries are rich in natural resources, culture heritage, and the commitment of their governments to development, including through attracting foreign direct investment.

 

The UNCTAD/ICC Investment Guide to Benin cites, among the country’s strengths, a stable political situation and a strategic geographic location, a liberalized economy, and rapidly expanding fields for potential investment which include tourism, mining, energy and hydrocarbons.

 

The investment guide for the Comoros notes that the country has immense and largely underexploited potential for investment and development, that it has a privileged location along several long-established trade routes, and that it has an investment and economic regime that is favourable for foreign investment led by the new Code on Investment adopted in 2007.

 

The guide for the Lao People’s Democratic Republic cites among the nation’s advantages a stable and investment-friendly government; opportunities that “abound” in mining, hydropower, and tourism; and its location as a “landlink connecting the most dynamic Asian markets” by a comprehensive cross-border transport facilitation programme that should ease the flow of goods.

 

The investment guide for Zambia says that the Government is establishing an environment that is appealing for investors, based on the ambitious Private Sector Reform Development Plan which is intended to further streamline business licensing processes; that the country shares borders with eight countries in southeastern Africa – a regional market worth $360 billion; that Zambia has a wealth of mineral resources, led by at least 2 billion tons of copper; and that much arable land is available and awaiting investment.

 

Past Investment Showcases events have led to major investments. For example, two Indian information and communications firms opened offices in Kenya, and the Indian firm Tata established a $500,000 software development project in Zambia.

 

SOURCE 

UNCTAD