Arab Today, arab today sovereign funds urged to invest in developing nations
Last Updated : GMT 21:32:51
Arab Today, arab today
Arab Today, arab today

Sovereign funds urged to invest in developing nations

Arab Today, arab today

Arab Today, arab today Sovereign funds urged to invest in developing nations

Doha - AFP

UN and African officials on Sunday urged sovereign wealth funds (SWF) worth an estimated $5 trillion to invest in developing countries, even as they seek the right climate and demand steps against corruption. Speaking at a debate as part of the World Investment Forum, officials from the UN Conference on Trade and Development (UNCTAD) and several African nations complained the level of investment inflows to the continent was too low. "We have created a very conducive environment for Foreign Direct Investment (FDI) but so far we have not seen any flow," Rwanda's trade and industry minister, Francois Kanimba, told the session. "Big funds (like the SWFs) normally look for big projects, but we are small countries," he said. Africa, home to most of the 49 least developed nations, needs huge investments in agriculture and infrastructure but neither SWFs nor bigger world funds have shown keen interest in investing. A programme manager for the International Fund for Agricultural Development, Abdelkarim Sma, said that foreign investments in Africa's agriculture sector were far too small. "Some $9 billion a year are invested in the African agriculture sector which is really nothing," Sma said. "The investments needed are estimated at $80 billion a year in order to secure food security for developing as well as developed countries," he said. But Hussein al-Abdulla, a board member of Qatar Investment Authority (QIA), the Gulf state's sovereign wealth fund, said the right environment needs to be created for foreign investments to start flowing. "Governments have to create a suitable investment environment. After the global financial crisis. We need transparency and efficiency which do not exist anywhere including the United States and Europe," Abdulla said. "We are willing to invest but governments have to create the right economic policies to attract investors ... We should not differentiate between SWFs and private investors," he said. SWFs, held mostly by oil-rich countries in addition to China, Singapore and Hongkong and others, have traditionally preferred to invest in big corporations and assets in the West for risk considerations. The assets of SWFs is only a quarter of the $20 trillion world pension funds and form a small portion of the estimated $21 trillion of FDI. Abdulla said corruption in Africa is a major obstacle for the flow of foreign investments and said QIA had had to withdraw from investment opportunities because of corruption. Bosworth Monck, an official of the IFC Asset Management Company of the World Bank, called for a "balance of interests" for all parties where investors will make profit and countries benefit in achieving development. He said well-established international institutions can help facilitate investments into poor nations.  

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sovereign funds urged to invest in developing nations Arab Today, arab today sovereign funds urged to invest in developing nations

 



Arab Today, arab today
Arab Today, arab today Fadi explains secrets of  Nancy Ajram's newlook

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Tourist guide explains types of tourism

GMT 18:28 2017 Saturday ,25 February

Tourist guide explains types of tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Iran complying with nuclear deal

GMT 07:14 2017 Saturday ,25 February

Iran complying with nuclear deal
Arab Today, arab today Zainab al-Maliki reveals herTV presenter models

GMT 18:12 2017 Friday ,24 February

Zainab al-Maliki reveals herTV presenter models

GMT 05:20 2017 Thursday ,23 February

WTO ratifies first multilateral trade deal

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Actress Lobna Abdel Aziz proud of her career

GMT 06:08 2017 Thursday ,23 February

Actress Lobna Abdel Aziz proud of her career
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 10:20 2017 Thursday ,23 February

Brazil's top diplomat resigns

GMT 11:54 2017 Thursday ,23 February

Saudis await visitors but will they come?

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday