LDC5 Conference in Qatar

ILO Director-General says more investment needed for least-developed countries

Statement | 07 March 2023

In recorded remarks to a side event during the Fifth United Nations Conference on the Least Developed Countries, ILO Director-General Gilbert F. Houngbo stressed that more and better investment is critical for the least developed countries to lift themselves out of poverty and achieve the SDGs.

He highlighted the role of the ILO Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy (MNE Declaration) in helping LDCs to attract investment that provide opportunities for decent work.

The ILO Director-General also reaffirmed ILO’s commitment to the “Capacity Development Programme for Investment Promotion Agencies of Least Developed Countries,” which brings together UNCTAD, ILO, UNIDO, UN-OHRLLS and the World Association of Investment Promotion Agencies (WAIPA) and is funded by the Enhanced Integrated Framework (EIF) of the WTO.