UNCTAD investment forum:
Focus on sustainable development
Geneva: The heads of dozens of transnational corporations and other
private sector stakeholders will meet Heads of State and Government
authorities to launch major new initiatives in the area of investment
for development at UNCTAD's World Investment Forum 2014 in the Palais
des Nations, Geneva, from Monday to Thursday.
"Faced with common global economic, social and environmental
challenges, the international community is defining a set of sustainable
development goals to replace the Millennium Development Goals when they
expire next year," UNCTAD Secretary-General Mukhisa Kituyi said.
"A key part of the new goals will be a robust funding framework.
There is a clear role for the private sector to galvanise efforts to
deliver on the new goals, which cannot be met with public money alone,"
"The core purpose of this year's World Investment Forum is to bring
together public and corporate leaders to amplify the discussion about
private sector involvement in sustainable development goals," Kituyi
"UNCTAD's World Investment Forum fills an important gap in global
economic governance in the absence of any other international platform
to discuss these issues," he said.
The forum, a gathering of more than 2,000 private and public sector
representatives from the developing and developed world, will consider
policy frameworks and conditions for investment at national and global
levels to address sustainable development challenges.
There will be nearly 40 events including private sector-led sessions,
ministerial round tables and the World Leaders Investment Summits.
High-level participants include the President of Kenya, Uhuru Kenyatta,
the Prime Minister of Jamaica, Portia Simpson-Miller, the Prime Minister
of Madagascar, Roger Kolo, the President of Seychelles, JamesMichel, the
President of Switzerland, Didier Burkhalter, interim Prime Minister of
Tunisia, Mehdi Jomaa and dozens of foreign affairs, investment and trade
ministers from around the world.
The Forum will be addressed by United Nations Secretary-General Ban
Ki-moon and hosted by Dr. Kituyi.
Findings from UNCTAD's World Investment Report 2014 indicated that
the total investment need in developing countries to deliver on the
sustainable development goals will be $3.9 trillion per year. Present
levels of investment leave an investment gap of some $2.5 trillion.
Transnational corporations in developed countries alone have more
than $5 trillion lying 'idle' on their balance sheets - money that could
be invested in building productive capacity, particularly in sustainable
A number of deliverables for investing in sustainable development
will be unveiled at the event. As the Forum is taking place in Geneva
for the first time, attendance will also include a large number of
leaders from the Swiss private sector.