Empowering Investors: ILO at the 27th World Investment Conference in New Delhi

The ILO participated in the 27th World Investment Conference in New Delhi, India, from 11 to 14 December 2023. During this event, the ILO launched the KPIs for measuring the impact of FDI on decent work, aligning with the guidance provided in the ILO MNE Declaration.

Actualité | 15 décembre 2023
In a significant event for the global investment community, the 27th World Investment Conference, themed 'Empowering Investors: Investment Promotion Agencies (IPAs) Pioneering Future Growth,' was held in New Delhi, India, from 11 to 14 December 2023. Jointly hosted by the Government of India and Invest India, the conference served as a vibrant platform for investors and IPAs to engage in meaningful discussions, foster dialogues, cultivate business relationships, and explore opportunities for collaboration.

At the Opening Plenary, Mr. Ismail Ersahin, CEO and Executive Director of the World Association of Investment Promotion Agencies (WAIPA), provided an overview of the current landscape in which IPAs operate and the growing trend towards more closely linking the Foreign Direct Investment (FDI) attraction and facilitation with sustainable and quality FDI, a path that WAIPA and its members have committed to for many years. In this context, he emphasized the importance WAIPA attaches to the collaboration with the ILO, supporting and guiding IPAs in considering decent work opportunities in investment promotion efforts.

The ILO-WAIPA collaboration has led to the development of Key Performance Indicators (KPIs) for measuring the impact of FDI on decent work, based on the guidance found in the ILO Tripartite Declaration of Principles concerning Multinational Enterprises and Social Policy (MNE Declaration). The KPIs were launched during the Conference. This tool aims to support IPAs in better assessing the impact of FDI on decent work, thus assisting them in enhancing FDI’s positive contribution to inclusive economic growth and sustainable development. In addition to the presentation of the KPIs, the session featured testimonials from Mr. Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), Egypt and Mr. R. Yofi Grant, CEO of the Ghana Investment Promotion Centre (GIPC). They noted the importance of decent work as a key objective of attracting FDI in their countries. Both welcomed the KPIs as a useful tool that will help IPAs to align investment promotion with national decent work priorities. Interactive polls during the session revealed that IPAs are inclined to adopt KPIs with the aim of facilitating the inward flow of FDI as a means to establish a sustainable hub.

Ms. Emily Sims, Senior Specialist and Manager of the ILO Helpdesk for Business, MULTI, presented the KPIs at the 27th World Investment Conference.
In the Strategic Consultation by Multilateral Organizations on Startups, the ILO highlighted the importance of decent work considerations in the operations of startups as a strategy for attracting both investors and customers. ILO also emphasized that policies to promote decent work should be a core part of any startup ecosystem.

In the ‘IPAs of G20 Nations’ meeting, the ILO emphasized the need for dialogue between investors and policymakers to strengthen policy frameworks, focusing particularly on micro, small, and medium-sized enterprises.

The ILO was also invited to conduct a training session for over 70 Indian IPAs on quality FDI for decent work, providing them with guidelines, tools, and recommendations.

The conference concluded with the ILO reinforcing its collaboration with the World Investment for Development Alliance (WIDA), which it had joined in early 2023. It reiterated the importance of identifying more opportunities for peer-learning between IPAs to support mutual growth and development.

This World Investment Conference served as a pivotal moment in advancing the ILO’s initiatives to align investment promotion with the creation of decent work opportunities. It is geared towards guiding IPAs in integrating the responsible business conduct and decent work into their investment frameworks. Furthermore, it laid the foundation for enhanced partnerships and strategic advancements between the ILO and IPAs, aiming at shaping a more equitable and sustainable global investment landscape.