Lima, November 19, 2019.- The Organization for Economic Cooperation and Development (OECD) and the Agency for Promotion of Private Investment (ProInversión), where the National Contact Point of the OECD in Peru is located, organized in Lima the international workshop “Promotion of Investment and Developing Sustainable in Latin America: Best Practices and road to follow”.
The event -inaugurated by the Executive Director (i) of ProInversión- had the objective of fostering discussions on the options of policies to promote, Attract and ease quality investment in Latin America and the Caribbean (LAC) and the role of the Agencies of Promotion of Investments (IPA).
“We consider it relevant that, during this workshop, a space for dialogue is generated that allows the development of new proposals of investment promotion strategies for sustainable development, taking into account that this topic covers an economic, social and environmental dimension, and necessarily implies the strengthening of relations between governments, companies and communities”, said the Executive Director (i) of ProInversión during his welcoming remarks.
Managers and experts from Latin American IPAs, government representatives from the areas of investment and development, members of international organizations, representatives of businesses, trade unions and civil society, as well as participants from the academia. The workshop allowed participants to benefit from exchange of opinions and a productive discussion about the following topics:
- How is Foreign Direct Investment (FDI) related to sustainable development?
- Investment Promotion Agencies in Latin America and the Caribbean. What do they do? And How?
- Investment Promotion Agencies in Latin America: What is the role of investment facilitation and promotion?
- Speakers and panelists expressed that FDI can contribute significantly to sustainable development, since it provides resources and generates positive secondary effects on host economies.
They also mentioned that IPAs have as one of their main mandates to promote and attract sustainable FDI. To this end, they provide assistance to companies and projects that can generate positive socioeconomic results.
They mentioned that the facilitation and retention of investments (including aftercare and policy advocacy) are one of the main functions of the agencies through which APIs can offer value-added services to investors that allow reducing costs and time of investment. administrative procedures.
Why is it organized in Peru?
Peru has supported the OECD Latin America and Caribbean Regional Program and the OECD Latin America and Caribbean Investment Initiative since its inception. It hosted the LAC investment conference in 2015, which also served as a regional consultation platform for updating the investment policy framework.
Peru has also adhered to the OECD Declaration on International Investment and Multinational Enterprises. ProInversión participates in the OECD Investment Committee, and likewise hosts the National Contact Point in charge of disseminating the standards on responsible business conduct established in the OECD Guidelines for Multinational Enterprises. It should be noted that Peru is in the process of adhering to the OECD codes for the liberalization of capital movements and invisible operations. It is the first country to request adherence to said instrument outside of a process of accession to the OECD.
Finally, through the workshop, ProInversión continues its joint work with the OECD and facilitates the dissemination of the main findings of the report, through discussions between professionals and those responsible for formulating public investment policies.