Vanuatu is currently participating in this international capacity building program, co-sponsored by WAIPA (World Association of Investment Promotion Agencies) and EIF (Enhanced Integrated Framework). Representing Vanuatu in this program are the Vanuatu Foreign Investment Promotion Agency (VFIPA) and Trades and Development Division (TDD). The workshop titled "Designing and Managing IPAs to Compete for FDI and Win" is the 2nd of a 4 series of workshops planned to be conducted by the sponsors.

The capacity building project targets EIF countries on investment within WAIPA activities with the main implementing entity the World Association of Investment Promotion Agencies (WAIPA). Both Offices, VFIPA and TDD have established formal relationship with the two global institutions (EIF and WAIPA). Vanuatu is fortunate to join other countries including Bangladesh, Bhutan, Cambodia, Nepal, Myanmar, Lao PDR, Solomon Island and other LDCs in Africa.

The World Association of Investment Promotion Agencies (WAIPA) launched the “Capacity Building for Enhanced Integrated Framework (EIF) countries on Investment Promotion within WAIPA activity” project. This two-year effort (2020-2021) is co-funded by EIF and aims to improve the capacities of investment and trade professionals in least developed countries (LDCs) and to enhance their cooperation.

Investment Promotion Agencies (IPAs) play an important role in attracting investments. They are often the public face of governments seeking to increase investment and promote economic and social development, and are instrumental in negotiating investment treaties, concluding investment contracts and managing investment relationships through aftercare services. In WAIPA’s experience, it can be observed that IPAs from several member countries are on a positive route. However, they still face obstacles, and this is particularly but not exclusively true for LDCs. WAIPA contributes to efforts to promote good practices and improve the quality of services in IPAs so that they are comparable to international standards. It also functions as a platform for exchange of knowledge and experience and provides capacity building through advocacy for technical and financial assistance, with the aim of creating more empowered, efficient and successful IPAs.

Due to the pandemic large portions of the program were placed virtually.

Project overview

Project title: Capacity building for EIF countries on investment within WAIPA activities
Main implementing entity: World Association of Investment Promotion Agencies (WAIPA)
Implementing period: 2O2O – 2O21
Target countries and stakeholder groups:

• (08) Asia-Pacific LDCs on the path of graduation from the LDC status: Bangladesh, Bhutan, Cambodia, Nepal, Myanmar, Lao PDR, Solomon Island and Vanuatu
• (engaging up to about 12) other LDCs in Africa

Objectives:

• To improve the capacities and skills for Investment promotion agencies (IPAs) and EIF National Implementation Units (NIUs) as well as government officials in the LDCs on investment promotion and leveraging investment in trade priority sectors.
• To improve coordination of IPAs in LDCs via regional and global networking coordination and advocacy.

Vanuatu 's participation in this global workshop is both timely and very relevant. The impacts of the covid-19 pandemic has been and will remain a challenge on how we go about promoting Vanuatu as an ideal investment location. Take aways from this workshop will be useful to us, especially in how we adapt our strategies and approaches to the current situation. The VFIPA as the national contact point for this WAIPA-based training is anticipating more participants attending in the remain series of workshops.