Dubai, represented by the Dubai Investment Development Agency (DUBAI FDI), has been elected for the Presidency of the World Association of Investment Promotion Agencies (WAIPA). The new achievement reflects the confidence of the international community in Dubai’s abilities to lead international economic development efforts.
DUBAI FDI will be the President of the new Steering Committee that will lead the global FDI body from 2019 to 2021. Investment Promotion Agencies (IPAs) from 49 countries and cities attending WAIPA’s General Assembly meeting held in Warsaw, Poland on Monday, voted by direct ballot to select the candidate for the WAIPA Steering Committee Presidency for the first time. The vote for the two vice-presidency and regional directorship positions was held by secret ballot. WAIPA’s General Assembly meetings and the 24th World Investment Conference are being held in Warsaw, as part of a week-long agenda, from 7 to 10 October, 2019.
WAIPA was established in 1995 in Geneva, Switzerland, as a global non-profit organization by the United Nations Conference on Trade and Development (UNCTAD), to promote the role of Investment Promotion Agencies (IPAS) in enhancing economic development and foreign direct investment (FDI). WAIPA membership spans more than 160 national and Sub-National IPAs from 130 countries. WAIPA’s Consultative Council includes a number of United Nations (UN) organizations including the International Labour Organization (ILO), the United Nations Industrial Development Organization (UNIDO), the World Bank, the International Chamber of Commerce and the Organization for Economic Cooperation and Development (OECD).
Fahad Al Gergawi, Chief Executive Officer of Dubai Investment Development Agency (DUBAI FDI), expressed his deep appreciation for WAIPA members’ trust and support. “This achievement came as a result of our continued efforts to progress WAIPA’s agenda to enhance cooperation and forge partnerships with WAIPA members over the years,” said Al Gergawi. “This is a vote of trust that reflects the vision of the UAE’s leadership to work closely with global stakeholders and partners in international organizations to shape the future,” he added.