The Lesotho National Development Corporation hosted the 4th forum of the Southern African Development Community (SADC) Investment Promotion Agencies (IPAs) on the 17th and the 18th February, 2015 in the Capital Maseru.
The objective of the forum was to accelerate the regional economic integration agenda and promote peer to peer learning amongst SADC Investment Promotion Agencies.
“The integration agenda is a topical issue that calls for more attention from relevant bodies. We hope that the forum will assist the region to appreciate the benefits of integration and thus unify the IPAs’ voice to reassure governments of the 14 SADC countries,” says Mr. Kelebone Leisanyane, LNDC CEO.
During the forum, participants visited the Lets’eng Diamond Mine as one of the locations of economic interest in Lesotho.
The meeting was expected to increase knowledge and shared experiences of investment climate developments in the SADC Region.
Global FDI flows grew by 9% in 2013 and are projected to grow even further until 2016.
According to the 2014 World Investment Report produced by UNCTAD, mega-regional groupings shape the Global FDI flows, with Asia-Pacific Economic Cooperation accounting for the largest share of 54%.
Conversely, Africa and Least Developed Countries are experiencing high FDI flows in manufacturing and services sectors; shifting more and more from dependency on extractive industries. More FDI flows are also in basic infrastructure and energy projects, with FDI continuing to be a major source of finance.