The Annual Investment Meeting (AIM 2015) concluded yesterday (April 1) in Dubai, UAE highlighting role of foreign direct investment (FDI) in Sustainable Development Goals (SDG) that will be adopted this year by the UN General Assembly.

A Ministerial Declaration said that the ultimate outcome of FDI must be to promote inclusive growth, jobs and prosperity. Countries need to identify their comparative advantages and build national strategies based on a defined vision for their most competitive sectors.

To achieve the scale of investments required for the attainment of the SDGs, innovative public-private partnerships underpinned by stable and predictable national public policies are essential.

The declaration says in its second clause that in order to attract FDI, countries need to develop stable, predictable and transparent investment climate. The most effective use of FDI is to create long term infrastructure. Two ways to fast track FDI into countries could be through fiscal policies and free economic zones.

It revealed that vast opportunities that exist for Investments in agriculture to ensure food security for the growing populations of the world. Creating the enabling environment for innovation and technological advances will be essential to achieving these goals.

The declaration underlined that importance of partnerships between host and recipient countries to safeguard the interests of the investor and recipient. FDI benefits should reach not just a few individuals but societies at large through transparent, predictable and non-discriminatory business regulations and investment policies.

Participants drafting the declaration welcomed the idea of the UAE Minister of Economy of establishing a committee of stakeholders to address the challenges of attracting FDI into Africa for agriculture and other sectors.

Such a Committee of interested parties could explore how to drive investments into sustainable agricultural production systems and supply-chain development, building on best practices in the energy-water-food security chain, said the Ministerial Declaration. – TradeArabia News Service