A select group of global experts met at the UN headquarters in Geneva to discuss the possibilities and methodologies of cooperation between global investment institutions and the UN Conference on Trade and Development (UNCTAD), in order to encourage investment.
Representing the global consultations sector in this meeting was the chair of the EMA sector at KPMG, president of consultations at Price Waterhouse, the chair of consulting services at Ernst & Young and the chairman of Abu-Ghazaleh Consulting Co. (AGCON).
During the meeting, the methodology of integrating the expertise of the UN and decision-makers of various sectors was discussed, in order to develop strategies that will enable developing countries to attract external investments.
Participants also discussed the objectives of attracting external investments and how to formulate policies that will assist developing nations in encouraging their abundance and the challenges they face in fulfilling this.
Talal Abu-Ghazaleh, the sole Arab representative at the meeting, stressed that a group of Arab consultants and experts be included in this effort, so that the region can be represented in a manner that guarantees fair participation, and realistic applicable decisions can be reached. He also called for preparing best practices guides, and creating the structure for the international consultative council affiliated with the UN while inviting consultative companies from the region and developing nations into these issues. He also called for organizing the competitive process.
Abu-Ghazaleh emphasized that direct foreign investment shouldn’t hinder direct local investment, and highlighted the need to enact inactive international contribution programs, pointing out to the necessity of using characteristics of the ‘most-favored nation treatment’ domestically.
He also asked for an acceptable format that ensures fairness in distributing investments within the Arab region.