WAIPA Launches Business Advisory Board As Link Between IPAs & Private Sector
WAIPA’s Business Advisory Board (BAB) was launched during #WIC22. With the objectives of advising WAIPA on global best corporate investment practices, the BAB is a consultative body of the world’s biggest companies, that brings private sector expertise to WAIPA member IPAs.
BAB launched at World investment conference WIC22 - “BAB is the private sector wing at WAIPA”
WAIPA Business Advisory Board (BAB)was launched during World Investment Conference (WIC22) at Geneva on 14 September 2022 and Intel and Medtronic were announced as the first members of the newly established BAB.
Since the establishment of WAIPA in 1995, the idea to create a body that brings private sector expertise to the WAIPA Member Investment Promotion Agencies (IPAs) has been fully supported by the Steering Committee (SC) as well as the General Assembly (GA) of WAIPA.
And this is reflected in the decision of establishment of Business Advisory Board (BAB).
The launch of BAB is a pivotal step made by WAIPA to collaborate with the private sector, the thing that can generate synergy between investors and recipients of investments and create naturally positive policy ecosystems for a sustainable and inclusive tomorrow as the private sector fully understands the need to put the UN’s SDGs in their priority list, that, projects which can generate sound rates of return and at the same time have the most ideal socio-economic impact.
This is considered as a first-time distinguished business executives who are recognized for their outstanding contributions to FDI either in their field of operation, respective countries or worldwide, have come together to advise the IPAs as well as policymakers in respective countries on the elaboration of international best practice and standards in investment promotion, facilitation and aftercare.
BAB main’s role is to assist Member IPAs with the implementation of best practices in FDI and standards through high-level consultative meetings to become operational and to identify international FDI best practices in their respective sector. In addition to providing peer reviews of selected draft FDI recommendations and standards.
In order to achieve its mandate, The BAB will undertake a number of activities including focus meetings, consultative meetings and other events including but not limited to; experience sharing sessions, trainings, capacity building activities, conferences, seminars, webinars and other events organized by WAIPA throughout the year.
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