MANAMA: As the $1 trillion GCC economy is enhancing trade and investment scopes globally, the plans to publish 1st FDI GCC Investment Report will add a new dimension to the economic portfolio of the oil rich six states.
Bahrain-based the MENA Centre for Investment in cooperation with the United Nations Conference on Trade and Development (UNCTAD), Geneva is conducting a three day high level workshop that will deal with statistical and policy issues on foreign direct investment for Bahrain and other GCC countries.
The workshop includes the presentations for various issues relating to data on FDI and TNCs and the implementation of a widely-accepted survey in the region; discuss way forward to realize the harmonization of FDI statistics in the region; FDI data compilation and dissemination and setting up the compilation and data dissemination system for internationally comparable FDI and TNC statistics.
“The transparent collection and reporting of data is a key to publish an Investment Report bringing this bloc with parity of other blocs publishing their own reports,” Masataka Fujita, Chief Investment Trends and Issues Branch Division on Investment and Enterprises at UNCTAD told The24X7News Bahrain (www.twentyfoursevennews.com).
Masataka and Astrit Sulstarova, Chief Trends and Data Section at UNCTAD are in Bahrain and conducting a three-day workshop for GCC representatives.
The first report is likely to be published in three years time as GCC needs a lot of work on capacity building and development of human capital.
The overall objective of the workshop is to assist officials in ministries and agencies, central banks, and other public and private institutions (e.g. chambers of commerce) from six GCC countries ─ Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the United Arab Emirates, ─ who deal with statistical and policy issues on foreign direct investment (FDI) to better understand and report FDI trends. In addition the workshop will present the UNCTAD Common Survey and establish an effective survey system to collect and disseminate data on FDI flow and stock and activities of foreign affiliates of transnational corporations (TNCs). The workshop will address various issues relating to data on FDI and TNCs and the implementation of a widely-accepted survey in the region, and discuss way forward to realize the harmonization of FDI statistics in the region
The workshop aims at understanding better FDI trends at the global and regional level; raising awareness of new internationally accepted standards and guidelines regarding the compilation of data on FDI and the activities of TNCs; explaining and understanding the UNCTAD common survey on FDI and TNCs; and initiating networking among regional country authorities involved in FDI data compilation and reporting.
This workshop includes developing a strategy in the area of FDI data compilation and dissemination, and setting up the compilation and data dissemination system for internationally comparable FDI and TNC statistics. Eventually, the countries will have capacities to analyze such data and formulate better policies on FDI.