Islamic Investment Promotion Agencies and KAZAKH INVEST are Strengthening Investment Cooperation
From December 19th to 20th, 2022, a seminar on "Digitalization of services in Investment Promotion Agencies in member countries of the Organization of Islamic Cooperation" was held in Casablanca, Kingdom of Morocco, under the chairmanship of the Islamic Development Bank (IsDB) and the Islamic Center for Trade Development (ICDT).
The aim of the seminar is to increase the digitalization of services in Investment Promotion Agencies (IPAs) of Organization of Islamic Cooperation (OIC) member countries through the exchange of knowledge, experience, and best practices, as well as the presentation of technical assistance by leading international organizations in this field, such as UNCTAD, WAIPA, SESRIC, ICCIA, ICIEC, IsDB and ICDT.
Representatives of the above-mentioned international organizations and, together with KAZAKH INVEST, representatives of investment promotion agencies from countries such as Morocco, Turkey, Senegal, Uzbekistan, Guinea, Jordan, Azerbaijan, Bangladesh, Iraq and others are participated in the event.
Dina Orazymbetova, Director of the Strategy and Digital Development Department of KAZAKH INVEST, presented colleagues with the experience of Kazakhstan in attracting investment and developing digital services.
It is noteworthy that the seminar presented the ICDT-IsDB joint report on the investment climate and opportunities of member countries of the Organization of Islamic Cooperation for 2022.
According to the report, the total inflow of foreign direct investment (FDI) to OIC countries in 2021 amounted to $132 billion. From 2010 to 2021, 53.2% of incoming FDI directed to OIC countries went to the Asian group (leaders: Indonesia, Malaysia, Kazakhstan, Turkey, Iran), 34.4% to the Arab group (leaders: Saudi Arabia, UAE, Egypt, Morocco, Lebanon) and 12.4% to the African group (leaders: Nigeria, Mozambique, Uganda, Gabon, Ivory Coast).
In 2021, the number of OIC countries with digital information portals increased to 44, and with digital one stop shops to 23. Kazakhstan's one stop shop is rated as one of the best.
At the end of the seminar, international organizations provided recommendations for strengthening investment attraction strategies through digital solutions and the parties agreed to strengthen further cooperation.
Reference: The Organization of Islamic Cooperation (OIC) is the second largest organization after the United Nations, consisting of 57 states located on four continents. The organization aims to protect and defend the interests of the Muslim world in the spirit of international cooperation and harmony among the various peoples of the world. Kazakhstan has been a member of the Organization of Islamic Cooperation since 1995.
At the same time, KAZAKH INVEST is a member of the World Association of Investment Promotion Agencies (WAIPA).
