Investment Promotion Agencies and the ”New Normal”
The economic disruptions triggered by COVID-19 are enormous, with global GDP projected to contract sharply in 2020, and global trade predicted to fall drastically. The UNCTAD IPA Observer issue provides an updated overview of the measures that investment promotion agencies (IPAs) have taken in response to the crisis and highlights emerging trends and challenges. It looks at how the agencies have transformed, and which changes are likely to stay after the crisis.
Find more research papers HERE.
The key message: The pandemic has surfaced the critical role of Investment Promotion Agencies
These are some of the main conclusions:
- IPAs have continued to strengthen their online presence during the crisis (77% of national IPAs worldwide have provided COVID-related information and services through their websites, social media and virtual platforms and tools).
- IPAs are using social media strategically to enhance and complement their investment promotion and facilitation functions.
- IPAs are investing in data to strengthen their functions, including a more robust policy advocacy role.
- Many agencies are moving from online crisis management towards online services and information to support recovery efforts and promote investment to restart economies.
- A large number of IPAs are expected to do more with less, and differently. How they perform during these critical times and how relevant they are seen by governments and the investment community may determine their future post-pandemic.
- Support is needed from the international community to help IPAs from developing countries undertake their transformations to emerge stronger from the crisis.
UNCTAD in the UN system
UNCTAD is a permanent intergovernmental body established by the United Nations General Assembly in 1964. Our headquarters are located in Geneva, Switzerland, and we have offices in New York and Addis Ababa.
UNCTAD’s Division on Investment and Enterprise will continue to provide regular updates to support the investment community during these challenging times.
Source/Image Credit: UNCTAD
