A report shows that IPAs have ramped up their ESG, sustainability, inclusivity and tech focuses during the Covid-19 pandemic. By Sofia Karadima, Investment Monitor
The Covid-19 pandemic not only shook up both the global economy and the world of foreign direct investment (FDI), it also highlighted the critical role of investment promotion agencies (IPAs) in promoting national sustainable development, according to the Global IPA Perception Study 2022.
The study, which was prepared by KPMG in partnership with the Annual Investment Meeting (AIM) Congress, was launched during the 2022 AIM event that took place in Dubai.
“Since investments are vital for sustainable development and job creation, it was imperative for governments to plan immediate, short-term and post-Covid revival measures for business and industrial recovery,”
said Mohit Bhasin, global co-lead, economic growth, at KPMG International, and national lead for economic development advisory at KPMG in India, in the report.
“Here, subnational, national and global IPAs played a critical role in retaining businesses, ensuring business survival and providing immediate handholding and aftercare to businesses in need.”
The study stresses how essential sustainable development is for IPAs, with areas of focus including environmental, social and governance (ESG), sustainability, inclusivity and technology use, among others.