India, Bahrain, Lesotho, SA Clinch UN’s Top Honour for Investment Promotion

Invest India received the award for excellence in servicing and supporting a major global wind turbines company in the establishment of a blade manufacturing plant in India while committing to train local staff and produce 1 gigawatt of renewable energy.

In another significant development, the agencies – Invest India, Bahrain Economic Development Board (EDB Bahrain), Lesotho National Development Corporation (LNDC) and InvestSA from India, Bahrain, Lesotho and South Africa respectively have won top honours at the United Nations Investment Promotion Awards.

Invest India

These agencies have bagged the award for excellence in boosting investment into sectors that will have social and economic benefits and help countries meet the Sustainable Development Goals (SDGs).

The awards were presented at a high-profile ceremony in the Assembly Hall of the Palais des Nations, Geneva, Switzerland, immediately after the grand opening of the World Investment Forum.

On behalf of Invest India, Deepak Bagla, who is the Managing Director & CEO of Invest India, has received the award from Armen Sarkissian, President of the Republic of Armenia.

On the awards win judges said that, “Invest India received the award for excellence in servicing and supporting a major global wind turbines company in the establishment of a blade manufacturing plant in India while committing to train local staff and produce 1 gigawatt of renewable energy. Implementation of the project is expected to reduce India’s wind energy cost significantly.”

On the other hand, EDB Bahrain was awarded for its role in attracting a large-scale regional data center, which will provide cloud computing services in Bahrain and neighbouring countries. The investor plans to employ 10,000 data-solution architects and will support the advancement of technology education in Bahrain and other countries in the Middle East.

Moreover, the LNDC received the award for a large horticulture investment project that will create 15,000 direct and indirect jobs. The LNDC is revered for its proactive role in securing the project and facilitating a partnership approach with joint financing by local and international private investors, LNDC and an international development institution.

While, InvestSA was awarded for its instrumental role in facilitating two pioneering waste-to-nutrient recycling projects to up-cycle organic waste into natural, sustainable high-protein animal feed. Each project will offer much-needed jobs in local communities and is expected to save an annual 80,000 metric tons of carbon dioxide emissions by diverting organic waste from landfill.

The awards, organized by UNCTAD, honour investment promotion agencies (IPAs) and their governments for their achievements, but also showcase best practices in attracting investment into SDG-related projects that can inspire investment promotion practitioners in developing and developed countries.

Commenting on the awards, UNCTAD’s, Director of Investment and Enterprise, James Zhan said, “The award-winning agencies show that, by mainstreaming the SDGs, IPAs can make a valuable contribution to social and economic development.”

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Manu Tayal

Manu Tayal

Manu is an Associate Editor at Saur Energy International where she writes and edits clean & green energy news, featured articles and interview industry veterans with a special focus on solar, wind and financial segments.

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