The maiden edition of the Assembly of African Investment Promotion Agencies (AAIPA) opens in Accra tomorrow.
The event, which forms part of the Africa Prosperity Dialogue Series also opening on Thursday, January 26, at Safari Valley Resort, Adukrom in Akuapem, will among other things discuss new ways through which the continent can re-position itself to attract more Foreign Direct Investment (FDI).
It will also adopt new strategies that will enable Africa to optimise its abundant resource to create wealth and job opportunities for the teaming youth.
The event will attract a number of dignitaries including heads of Investment Promotion Agencies on the continent, leaders, businessmen and women as well as dons in academia.
Briefing the media in Accra yesterday, the Chief Executive Officer (CEO) of the Ghana Investment Promotion Centre (GIPC), Mr Yoofi Grant, said participants would also deliberate on measures necessary towards adopting Common Trade Framework and Investment Protocol to enhance intra-African trade and investment opportunities.
According to him, the World Investment Report by the United Nations Conference on Trade and Development (UNCTAD) in 2021 indicated that post-pandemic, Africa’s foreign direct investment increased from some $40 billion in 2020 to $83 billion in 2021.
This he said was the highest the continent had achieved over the last few years.
“This meeting has become quite important because of the developing landscape in the global economy,” he said.
Mr Grant explained that, Africa was trying to forge a new narrative on its relationship with nations around the world after the COVID-19 pandemic, which caused lots of disruption to trade and investments globally.
“I’m also representing the Sub-Saharan Africa on the Board of the World Association of Investment Promotion Agencies and my remit is to rally all Investment Promotion Agencies in Africa for our mutual benefit, re-access the opportunities and re-position ourselves as major recipients of foreign direct investment,” he added.
He said the series was Africa’s own form of trade dialogue and presents the opportunity for Africans to look within to address its own challenges.
Mr Grant said the 21st century presented the continent with lots of opportunities and the time had come for Africans to leverage on it large natural resource deposits and human capital for its development.