World Investment Forum:

Private sector should invest in sustainable development

Geneva: Leading members of the global investment community gathered to meet sustainable development stakeholders at UNCTAD's World Investment Forum which was launched at the Palais des Nations, Geneva, on Monday.

"There is a strong business case for investing in sustainability. Private sector approaches can help us to innovate," UN Secretary-General Ban Ki-moon said in a welcoming address delivered by video.

"At the same time, collaboration and partnership can ensure that investment in sustainable development is inclusive and aligned with the priorities of countries. This forum helps to forge such links," he said.

"You have the opportunity to contribute to improved livelihood and well-being for billions of people over decades to come," Ki-moon said.

President of Switzerland Didier Burkhalter, co-host of the grand opening with UNCTAD and the canton and city of Geneva, reiterated his government's support for the objectives of UNCTAD in mobilising private sector funding for sustainable development in partnership with the public sector.

"We need a strong and realistic 'business plan' to finance fair and efficient sustainable development," Burkhalter said.

"The latest UNCTAD World Investment Report has shown this and proposed an Action Plan that offers a promising path and underlines the need for innovation," he said.

Acting Director-General, United Nations Office at Geneva, Michael Møller said that discussions at the Forum were "not merely technical debates but went to the 'heart' of the mission of the entire United Nations.

He welcomed the opportunity that the Forum gives to "break down silos" between public and private stakeholders in development.

UNCTAD Secretary-General Mukhisa Kituyi said, "Already investors are more aware of opportunities in developing economies and at the same time, countries are doing more to attract investment and ensure it makes a positive impact."

"The Forum is an opportunity to consider solutions, promote leadership in international investment and influence the future direction of investing in sustainable development," he said.

UN Development Program Goodwill Ambassador and footballer Didier Drogba spoke about investment into infrastructure in his country Côte d'Ivoire, and held it up as an example of the need for investment in the agricultural, demographic, industrial, educational and healthcare challenges in many countries.

"As much as we, people like myself, can do in raising charitable money and donations for these things, it will never be enough.

We need real investment on a solid economic basis to make a real impact and to achieve sustainable development goals," he said.

President, Council of the State of Geneva, François Longchamp and Inter-Parliamentarian Union President Abdelwahad Radi were also present at the event.

The Master of Ceremonies was Director, Division of Investment and Enterprise, UNCTAD, James Zhan.

Investment Promotion Awards 2014 were presented and a musical performance by contemporary Swiss alphorn player and singer Eliana Burki took place in the evening.