The World Investment Forum 2014 will be held at the Palais des Nations, in Geneva, from the 13th to the 16th of the October, this year. Recently, a press release for the same was held at the UN Conference Hall, 55 Lodhi Esate in New Delhi. The meeting witnessed three eminent personalities namely Kiran Mehra- Kerpelman, Director of United Nations Information Centre for India and Bhutan, Premila Nazareth Satyanand, a policy analyst and the secretary of the Ministry of Finance, Arvind Mayaram.
The release began with a speech by the policy analyst who emphasized on the gains and losses that India and other Asian countries have faced in the last decade. According to the UNCTAD reports, the Foreign Direct Investment (FDI) flows into the developing countries in 2013 increased to 54 percent although the overall growth rate fell by seven percent where the Asian developing countries continue to have the highest FDI flows.
The World Investment Report 2014 has been subtitled as ‘Investing in the SDGs: An Action Plan’ which plans to channel investment to the sustainable development projects.
“India which once was the second most favored investment destination fell to a poor sixth position in 2010 and reached a third and fourth position in 2013 and 2014 respectively. On the other hand, China continued to be the top most favored investment destination” stated Premial Nazareth Satyanand.
She further added, “The main focus of the 2014 Forum will be investing in Sustainable Development which will help deal the biggest challenges these economies are facing. The importance of the private sector will also be discussed so as to mobilize and ensure its contribution in the implementation of the Sustainable Development Goals (SDGs)”.
“Investing in the SDGs is definitely important but ensuring growth should be the foremost priority. It is important because when we ensure growth, the sustainable development goals automatically get fulfilled. We ourselves are planning to prioritize growth in the budget that soon will have meetings for. More importantly, it is crucial to understand that though growth and development are different, when an economy grows, it automatically starts developing,” quoted Mr. Mayaram.
The 2014 Forum will consist of over thirty events where different countries will present their investment opportunities to the investors and conclude some of the major deals.
The purpose of focusing on the Sustainable Development areas is to achieve targets like poverty reduction, social inclusion and climate change. With sustainable development being the centre of interest, we hope that 2014 Forum will prove to be even more fruitful than the previous summits.
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