India wins Investment Promotion Award

0
Indian Prime Minister Narendra Modi addresses the nation from the historic Red Fort during Independence Day celebrations in Delhi, India, August 15, 2016. REUTERS/Adnan Abidi

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

The prizes were presented on Monday on the opening day of the 2018 World Investment Forum, organized by the UN Conference on Trade and Development (UNCTAD) and taking place in Geneva from October 22-26, reports Xinhua news agency.

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 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.

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.

Share