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Regional public and private sector representatives meet on investment
A group photograph of Participants after the opening ceremony. Intercontinental Hotel- Lagos-Nigeria

Lagos, 6th June 2017. Over 70 public and private sector representatives from 15 ECOWAS Member States converged in Lagos, the economic capital of Nigeria on the 6th June, 2017 for a three-Day ECOWAS Investment Policy and Promotion (IPP) Workshop.

Organised by ECOWAS and the World Bank Group under the European Union (EU) funded Improved Business and Investment Climate in West Africa Project, the Workshop is expected to provide a forum for ECOWAS Member State, ECOWAS and UEOMA commissions, key Private Sector representatives, and World Bank Group staff to interact and discuss key investment policy issues and reform priorities in the ECOWAS region.

The workshop is meant to shape discussions on the role of an open investment policy and a conducive investment climate in the attraction of investment from investors’ perspectives.

Participants are also critically examining how to promote new investment, especially in new sectors, and encourage the retention and expansion of existing investment, with a focus on fragile and conflict situations.

They are expected to share insights on leveraging Foreign Direct Investment (FDI) and the evolving international investment environment to achieve domestic business environment reforms in the ECOWAS region.

The experts and officials will be learning about the offering of IPP by the World Bank and how this can serve as a “connector” between domestic reform, regional reform and development, and review concrete experiences and lessons related to IPP reform in practice.

The EU funded project is being implemented by the World Bank Group and seeks to address a range of investment policy issues that constitute barriers for the private sector to invest efficiently across the region. It was also put together for participants to deepen their familiarity and understanding of IPP.

The workshop was declared opened by Mrs. Obiajulu Ihonor, Senior Private Sector Specialist on behalf of the World Bank Group.

There were series of Welcome addresses and Good will messages from ECOWAS Commission read by Mr. Peter Oluonye on behalf of Mr. Kalilou Traore, ECOWAS Commissioner for  Industry and Private Sector Promotion and the Executive Secretary of Investment Promotion Commission (NIPC) Ms. Yewande Sadiku.

This workshop is a follow up to the Inaugural technical workshop on Improved Business and Investment Climate in West Africa, which held in Dakar – Senegal, 18th -19th June, 2015.

It had in attendance, representatives from the ECOWAS Commission, the West African Economic and Monetary Union (UEMOA), the EU, as well as the World Bank Group.

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