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March 23, 2020

On March 23, 2020, WAIPA's Governing Board / Board of Directors held a videoconference on how to address the COVID-19 situation and its impact on the global economy. Stamen Yanev, Executive Director of InvestBulgaria Agency (IBA), took an active part and offered WAIPA Board of Directors to make a statement indicating the commitment that investment agencies are currently making, in which their role, influence and positive impact on society, cities and nations at this difficult time for the economies of all countries around the world.

Stamen Yanev said that if investment agencies adapt to the current situation and continue to focus on the value created by each foreign direct investment project (FDI), unique in nature, we will be able to get out of the crisis stronger than before. Many agencies continue to engage investors responsibly, to provide the support, guidance and clarity needed to restore confidence in local economies. The investment agencies that are members of the WAIPA Board of Directors have unanimously decided that in 2020 WAIPA will set an example for global cooperation through:

ì  Setting a new agenda for the future of foreign direct investment;

ì  Strengthen and expand WAIPA, its services, institutional role and global stability for the benefit of its members;

ì  Develop a new WAIPA strategy and roadmap to guide the future of services, partnerships and governance within the organization;

ì  Encourage regional and global partnerships to facilitate FDI in Sustainable Development Goals (SDGs) projects;

ì  Develop and fund WAIPA member capacity building programs through the 2030 Investment Agencies Program in partnership with the Hamdan Center for the Future of Investment (HCFI) with a focus on building the professional, institutional and market capacity needed for realizing over $ 15 trillion in FDI related to Sustainable Development Goals by 2030.;

During the videoconference, the WAIPA Board voted and approved the following items on the agenda

Rebuilding the WAIPA Headquarters in Geneva by the end of 2020 to be at the heart of decision-making and to reach all stakeholders who are seeking to achieve their vision and mission. The relocation of the headquarters will allow WAIPA to go one step higher and build on an organization that has a high image among government institutions, countries, permanent representatives of these institutions. This will lead to more projects where WAIPA will be the main unit for their implementation;

ì  Developing a strategy;

ì  201 Financial Report 2019;

ì  2020 Budget for 2020/2021;

ì  Join UNWTO / World Tourism Organization as a new member of the WAIPA Advisory Committee;