|5||Round Table 5|| Wednesday, 3 December 2003, 09:00-11:00 CET |
Conference Room B
|Promoting Investment in Developing Countries |
(with special reference to Africa) -
Challenges, Opportunities and Experiences
The fifth Round Table on Promoting Investment in Developing Countries gave special emphasis on the challenges faced in the area of foreign direct investment (FDI) in Africa, in particular sub-Saharan Africa. The key role of investment (in machinery and equipment) in bringing about structural change in a poor economy cannot be overemphasized.
FDI in particular brings in new ideas, new technologies and managerial know-how and leads to an improvement of the average skills and efficiency levels of industry. They cumulatively help in diversifying the economy while at the same time contributing to higher productivity and growth - essential conditions for the realization of the MDGs, particularly the eradication of poverty.
The Round Table addressed the question of highly asymmetrical patterns of global flows and stocks of FDI, examined the reasons for the almost complete marginalization of Africa in general and sub-Saharan Africa in particular from mainstream manufacturing and export-led FDI, identified the challenges faced by those and other developing and least developing countries in that area and deliberated on the responses to be crafted to meet the challenges.