Bahrain, India, Lesotho, South Africa win Investment Promotion Awards

Agencies from Bahrain, India, Lesotho, and South Africa were on Monday awarded the UN Investment Promotion Awards (IPAs) for excellence in boosting investment helping countries meet the Sustainable Development Goals (SDGs).

Delegates gather between the countrys' booths at the Investment Village, during the World Investment Forum 2018, at the European headquarters of the United Nations in Geneva, Switzerland, October 22 2018. [Photo:IC]

The prizes were presented on the opening day of the 2018 World Investment Forum, organized by the United Nations Conference on Trade and Development (UNCTAD) and taking place in Geneva from Oct. 22-26.

The awards showcase best practices in attracting investment into SDG-related projects that can inspire investment promotion practitioners in developing and developed countries, said UNCTAD.

"IPAs have a critical role to play in mobilizing investment to achieve the SDGs," said UNCTAD's director of investment and enterprise James Zhan.

"The award-winning agencies show that by mainstreaming the SDGs, IPAs can make a valuable contribution to social and economic development," said the official.

The Lesotho National Development Corporation (LNDC) received its award for a large horticulture investment project that will create 15,000 direct and indirect jobs.

South Africa's InvestSA was awarded for its instrumental role in facilitating two pioneering waste-to-nutrient recycling projects to up-cycle organic waste into natural, sustainable high-protein animal feed.

EDB Bahrain was awarded for its role in attracting a large-scale regional data center, which will provide cloud computing services in Bahrain and neighboring countries and the investor plans to employ 10,000 data-solution architects.

Invest India received its award for excellence in servicing and supporting a major global wind turbines company in the establishment of a blade manufacturing plant in India while committing to train local staff and produce 1 gigawatt of renewable energy.

The IPA Awards have been given annually since 2002 as part of UNCTAD's investment promotion and facilitation program.