The World Investment Report 2022, an international presentation organized by the World Association of Investment Promotion Agencies (WAIPA), was attended by heads of investment promotion agencies (IPAs) from more than 30 countries, Delovoy Kazakhstan reports.
World Investment Report (WIR), produced annually by the United Nations Conference on Trade and Development (UNCTAD), is the consolidated world report on investment and contains relevant information in the field of international investment flows, global and regional trends, investment climate, as well as investment policy of states.
According to WIR-2022, presented by UNCTAD Director of Investment and Enterprise James Zhan, global foreign direct investment (FDI) reached $1.58 trillion in 2021, exceeding the pandemic 2020 level by 64.3%.
Moreover, the recovery in investment flows was much faster than planned, rising even above 2019 levels ($1.48 trillion). Meanwhile, emerging economies accounted for more than half of all FDI in the world (52.9%), showing a 30% increase over the previous year.
The presentation of WIR-2022 continued with a panel discussion with the participation of IPA leaders from around the world. Speaking on behalf of Kazakhstan, Zhandos Temirgali, Deputy Chairman of the Board of "NC "KAZAKH INVEST" JSC, noted the steady regional leadership of Kazakhstan, which accounts for about half (46%) of the FDI inflow into the region, and the significant attention paid in the Report to Central Asia as a whole. Moreover, he said that in accordance with UNCTAD recommendations in terms of sustainable development and ESG, Kazakhstan adopted a new Investment Policy Concept until 2026.
James Zhan emphasized role of "KAZAKH INVEST", and highlighted success of Kazakhstan in attracting foreign investment, based on continuous improvement of legislation, "soft infrastructure" for investors and close cooperation of the state with international companies.
In total for the period 2005-2021 cumulative average annual growth rate of net foreign direct investment in Kazakhstan was 16.1%. According to WIR-2022, in the context of 32 landlocked developing countries of the world, Kazakhstan took 2nd place. In terms of industries, more than half (56%) of the net FDI inflow to Kazakhstan was in the manufacturing industry.
The United Nations Conference on Trade and Development (UNCTAD) is the main part of the United Nations Secretariat dealing with trade, investment, and development issues. UNCTAD was established by the United Nations General Assembly in 1964 and it reports to the UN General Assembly and United Nations Economic and Social Council. The organization's main objective is to maximize the trade, investment and development opportunities of developing countries and assist them in their efforts to integrate into the world economy on an equitable basis. The organization conducts research and policy analysis, intergovernmental meetings, provides technical cooperation and interaction with civil society and the business sector.
The World Association of Investment Promotion Agencies (WAIPA) is an international Non-governmental organization established in 1995 by the UNCTAD that acts as a forum for investment promotion agencies, provides networking and promotes best practice in investment promotion. The organization unites over 100 members. The headquarters is located in Istanbul (Turkey).
