INVESTMENT TARGETING FOR ECONOMIC AND SOCIAL DEVELOPMENT
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1 CONFÉRENCE DES NATIONS UNIES SUR LE COMMERCE ET LE DÉVELOPPEMENT UNITED NATIONS CONFERENCE ON TRADE AND DEVELOPMENT INVESTMENT TARGETING FOR ECONOMIC AND SOCIAL DEVELOPMENT Organized by UNCTAD in cooperation with the Latin American and the Caribbean Economic System (SELA) and the support of the Government of Spain Caracas, Venezuela, 4-7 November 2008 I. INTRODUCTION: In the World Investment Report 2001, Promoting Linkages, UNCTAD identified three generations of investment promotion: In the First Generation of investment promotion policy, countries simply liberalize their FDI* regimes; they reduce barriers to inward investment, strengthen the standards of treatment for foreign investors and enhance the functioning of markets. The assumption was that, once an enabling framework is in place, FDI 1 inflows will increase. In the Second Generation of investment promotion policy, governments go further and actively seek to attract FDI by marketing their countries. This approach typically finds its expression in the establishment of national investment promotion agencies. The Third Generation of investment promotion policies takes the general enabling framework of FDI and a proactive approach towards attracting FDI as a starting point. It then proceeds to target foreign investors at the level of industries and firms and in the light of a country s developmental priorities. The objective is to match the immobile locational advantages of a country with the mobile competitive advantages of firms with a view to upgrading the former. The suite of policies and practices that comprise third generation investment promotion could also be referred to as targeted investment promotion or investor targeting. This is the subject of this course, organized by the TrainForTrade Programme and the Investment Facilitation Section of UNCTAD in the framework of their technical cooperation activities for Latin American and Caribbean countries. The workshop is organized in Caracas, Venezuela, from 4 to 7 November 2008 in cooperation with the Permanent Secretariat of Latin American and the Caribbean Economic System (SELA) and the financial support of the Government of Spain. 1 Foreign Direct Investment 1
2 II. BACKGROUND: Targeted investment promotion combines two areas: 1) investor targeting and 2) use of the traditional techniques of location marketing or promotion, but aimed at specific industry sectors and firms. The course covers both areas; however, it is divided in two parts for a better deliverability: 1) Investment promotion is a broad term used to describe many initiatives designed to promote the economic development of a location through investment. The most commonly used investment promotion techniques and policies were developed during the first and second generation of investment promotion. They include the establishment of an effective institutional and legislative framework as well as the use of communication and marketing techniques such as advertising, public relations and events. These techniques were often used in a non-specific and broad manner. When a location adopts a third generation strategy, it must adapt the techniques, and to some extent the policies and institutions, to focus upon a defined group of productive sectors, firms and individuals. The first of these techniques is investor targeting. 2) Investor targeting exists at both the operational and the policy levels. At the operational level it is built around the solid research of the competitive advantages of a location, the understanding of the requirements of international investors and the process of matching those requirements to the location s advantages. Investor targeting at the policy level is aimed at the upgrading and development of policies conducive to the long-term strengthening of the domestic enterprise sector including its relationship with foreign direct investment i.e. business linkages. III. OBJECTIVES OF THE TRAINING WORKSHOP: At the end of the workshop, participants will be able to: 1. Understand the international investment environment and why this makes investor targeting the most efficient way of promoting investment in a location, in order to ensure economic and social benefits from it; 2. Perform the actions and tasks required for the creation of effective long-term investment targeting initiatives; 3. Link the initial targeting activities to the essential longer-term corporate development support (CDS or aftercare, as it is more generally called) provided to existing major international investors, and understand how a region may cooperate on investor targeting initiatives; 4. Use a number of useful analytical and practical tools for the investor targeting. IV. DATES AND WORKING LANGUAGE: The Workshop will take place at Permanent Secretariat of SELA, Fifth Floor, Torre Europa, Campo Alegre in Caracas, Venezuela, from 4 to 7 November The working language will be English. V. TARGET POPULATION: The workshop is aimed at officials, including diplomats, from governmental departments/agencies with investment promotion mandates of SELA member countries. The specialists proposed by each country should have a good command of the English language and comply with the above requirements. The selected participants must agree to fully participate in the 4-day training activities, as well as to comply with the schedule and with the organizational rules for such activities. VI. CONDITIONS: This event is organized by UNCTAD Secretariat, in cooperation with the Permanent Secretariat of SELA and with the support of the Government of Spain. All queries concerning the local organization of this workshop must be addressed to: 2
3 Carmen Gabriela Menéndez Coordinator of Relations with Member States Latin American and Caribbean Economic System (SELA) Av. Francisco de Miranda, Torre Europa, Piso 4, Urbanización Campo Alegre, Caracas Venezuela Tel: Fax: Registration forms must be addressed to: Alessandra Vellucci Chief, Human Resources Development Section / TrainForTrade Division on Technology and Logistics UNCTAD Palais des Nations, CH 1211 Geneva 10, Switzerland Tel: Fax: TrainForTrade@unctad.org VII. ADMINISTRATIVE AND FINANCIAL ARRANGEMENTS: The UNCTAD Secretariat and the Permanent Secretariat of SELA will be responsible for the preparation and organization of this event. Thanks to the generous support of the Government of Spain, the UNCTAD Secretariat will be able to fund the participation of one delegate per country member of SELA. The participants to be funded will be selected by the UNCTAD Secretariat among those who fulfil the requirements of the workshop. UNCTAD will cover the return travel costs (by most direct route and at least costly airfare) and the daily subsistence allowance according to the rules and regulations of the United Nations. UNCTAD will not be held reliable for the payment of the following: Exceptional expenses incurred by the participants during the workshop even unexpected, such as travel, sickness, accident, dentistry or hospital costs; The payment of indemnity in case of death or incapacity occurred during, or related to, the attendance of any participant in the workshop; The payment of indemnity for loss or damage of personal effects; Ad hoc expenses of a personal nature, such as drinks, personal services or telephone charges; Travel insurance. Each participant must be fully insured to cover any hazard related to his/her travel and participation in the workshop. Participants should refrain from engaging in any political, business-related, or illicit activities during the workshop. 7.1 Visas It is the responsibility of each participant to obtain the necessary visa for a legal entry and stay in Venezuela, for the duration of the workshop. Currently, entry into the Bolivarian Republic of Venezuela of tourists of almost all nationalities is allowed. Nevertheless, visas are required for some of them. For security purposes, it is recommended that information on migration regulations should be previously consulted by contacting the Embassies and / or Consulates of Venezuela in the countries of origin, or downloading the Web site of the Ministry of Foreign Affairs: 3
4 In case you need help from the Permanent Secretariat of SELA with migration arrangements, please contact Mrs. Cora Romero, Travel and Arrangements Official - Tel: ( ) or ; Fax: ( ) and ; cromero@sela.org. You may also wish to contact the UNDP Resident Representative in your respective country. All visa fees are to be paid by the participants. 7.2 Medical Regulation All medical fees are the responsibility of the participants. They are required to ensure that their international health certificate is valid vis-à-vis the current rules and regulations in effect in Venezuela. The yellow fever vaccine is required by the national authorities to enter in Venezuela. 7.3 Registration and selection of participants Officials selected by their respective authorities to attend this workshop must fill in and send the attached registration form by fax to Alessandra Vellucci in UNCTAD, Fax: , or by to trainfortrade@unctad.org. The deadline for the reception of the registration forms - which are indispensable to apply to the financial contributions - is 3 October To be valid, the form must bear the approval of the relevant authority. UNCTAD shall confirm the acceptance of the participant upon reception of the forms, and no later than 6 October 2008 (by fax or ), in order to make the necessary arrangements. The event is not open to the general public. 7.4 Arrival to and departure from Venezuela Participants must arrive in Caracas, Venezuela no later than Monday 3 November No departure should be scheduled before Friday 7 November For every purpose related to their travel to and stay in Venezuela, they will need to liaise with: Cora Romero Travel and Arrangements Official Latin American and Caribbean Economic System (SELA) Av. Francisco de Miranda, Torre Europa, Piso 4, Urbanización Campo Alegre, Caracas Venezuela Tel: Fax: and cromero@sela.org 7.5 Accommodation We are recommending the following accommodation(s), whose prices have been negotiated by SELA especially for this event: UNCTAD/SELA 4
5 (5*) JW MARRIOTT HOTEL CARACAS Web: Address Avenida Venezuela con Calle Mohedano El Rosal, Caracas 1060 (One block away from SELA and two blocks from the Chacaíto Metro Station). Luxury standard rate: Bs.F. 685,90 (USD $ 319,02) + tax 9% (Breakfast not included. Price additional BsF % service ) Contact: (Corporate Sales Executive) Ms. Helen Vasquez Tel: (58-212) (reservation) (master) Fax (58-212) helen.vasquez@marriotthotels.com (5*) EMBASSY SUITES HOTEL CARACAS Web: Avenida Francisco de Miranda con Avenida El Parque. Campo Alegre, Caracas 1060 (On the same block as SELA and two blocks away from the Chacaíto Metro Station) Corporate rates: Junior Suite-single-double room Bs.F. 537,50 + tax 9% (USD $ 250) Buffet breakfast for 1-2 persons included Free bar from 5:00 to 7:00 p.m. Contact: Mr. Jorge Fung (Account Manager) Tel: (58-212) (master) /03 (direct) Fax (58-212) jfung@embassysuitescaracas.com (5*) HOTEL CENTRO LIDO Web: Centro Comercial Lido, Avenida Tamanaco, Urbanización El Rosal, Caracas 1060, Venezuela. (Inside Lido Mall, One block front of SELA and two blocks away from the Chacaíto Metro Station) Corporate rates: Single Suite Bs.F. 634,00 (USD $ 295) + tax 9% Buffet breakfast for 1-2 persons included Cocktail Free 5:30 to 7:30 p.m. Internet service included. Contact: Mr. Angel A. Díaz (Account Manager) Tel: (58-212) Fax (58-212) sales@hotelcentrolido.com 5
6 There are other comfortable hotels situated in safe areas of the city. Please consult the related web pages: (5*) HOTEL TAMANACO INTERCONTINENTAL Web: Veracruz Avenue with Final Main Avenue Las Mercedes, Caracas 1060, Venezuela (On the opposite side you will find the Metrobus bus-stop that goes to Chacao and El Hatillo) Tel. (58-212) or Toll Free Fax: (58-212) (5*) HOTEL ALTAMIRA SUITES - Capacity: 235 rooms Web: 1ra Av. con 1ra Transversal Los Palos Grandes Caracas, Venezuela (10 minutes in taxi to SELA and one block away from the Altamira Metro Station) Tel: (58-212) (direct) (58-212) (master) Fax (58-212) ventas@alsuites.com; jaqueline_lucena@alsuites.com (4*) HOTEL PASEO LAS MERCEDES - Capacity: 100 rooms Web: Avenida Principal de Las Mercedes, Caracas 1060, Venezuela (On the opposite side you will find the Metrobus bus-stop that goes to Chacao and El Hatillo) Tel. (58-212) Fax: (58-212) reservas@hotelpaseolasmercedes.com; ventas@hotelpaseolasmercedes.com 7.6 Official Foreign Exchange Rate The local currency redenomination came into force on 1 January Therefore, all amounts are expressed in "Bolívares Fuertes" or "Strong Bolivars" (Bs.F). The foreign exchange control regime has been in effect in Venezuela since 2003 (see The official exchange rate is Bs.F 2.15 per US$ 1.00 (US dollar). As set out in the Official Gazette of the Bolivarian Republic of Venezuela No , the Law against Illegal Exchange came into force on 14 October Transport For transport from the International Simón Bolívar Airport in Maiquetía to Caracas, there is an authorized taxi service at the exit of the airport terminal. Authorized taxis can be easily identified by their colours which are black with yellow logotypes printed on the doors. This authorized taxi service approximately costs Bs.F per travel (equivalent to about US$ 56.00, according to the official exchange rate of Bs.F 2.15 per US$), payable in national currency (Strong Bolivars). 6
7 For your own security, the coordinators of the Workshop recommend you to EXCLUSIVELY use this taxi service. Upon request, the Permanent Secretariat of SELA may provide support to reserve in advance such taxi service from the airport. 7.8 Registration Registration of participants and handing out of badges will be made on Tuesday 4 November 2008 at 8:30 am in the headquarters of the Permanent Secretariat, Fifth Floor, Torre Europa, Caracas. 7
8 REGISTRATION FORM UNCTAD Workshop on Investment Targeting for Economic and Social Development Caracas, Venezuela, (4-7 November 2008) Permanent Secretariat of SELA DEADLINE TO RECEIVE REGISTRATION FORMS: 3 October 2008 TO REGISTER, please fax your completed form to: Alessandra Vellucci, Chief, Human Resources Development Section/TrainForTrade, UNCTAD, Palais des Nations, CH-1211 Geneva 10, Switzerland - Fax: Tel.: trainfortrade@unctad.org FULL NAME: Mr. Ms. LAST NAME FIRST NAME DATE OF BIRTH: NATIONALITY: FUNCTIONAL TITLE: MOTHER TONGUE: AREA OF SPECIALIZATION: SECOND WORKING LANGUAGE: DEGREES OBTAINED: DATE & PLACE OF COMPLETION SENIORITY IN CURRENT POST: DEPARTMENT / AGENCY / BUREAU: COUNTRY: MAILING ADDRESS: PHONE NUMBER: COUNTRY CODE ( ) AREA CODE ( ) FAX NUMBER: COUNTRY CODE ( ) AREA CODE ( PERSON TO BE NOTIFIED IN CASE OF ACCIDENT: FULL NAME: LAST NAME FIRST NAME PHONE NUMBER: COUNTRY CODE ( ) AREA CODE ( ) I certify that the information provided in this form is true and I hereby agree to attend all sessions of this workshop. I am aware of the fact that I cannot hold UNCTAD and SELA or any other party responsible in case of personal injury or accident, or of loss or deterioration of personnel effects incurred either for the duration of the workshop, or during the travel to and from Caracas, Venezuela. OFFICIAL AUTHORIZATION I certify that this staff member is authorized to attend the Workshop on Investment Targeting For Economic and Social Development of UNCTAD in Caracas, Venezuela (4-7 November 2008). Name: Functional Title: Date: Signature: 8
9 Preliminary Programme Tuesday 4 November 8:30 Registration / Distribution of documentation UNCTAD SELA 9:00 Opening Ceremony Spanish Government Representative (to be confirmed) 10:00 PAUSE 10:30 Introduction to the course Participants presentation FDI Global and regional trends: WIR 2008 UNCTAD 12:30 LUNCH 2:00 Understanding FDI and projects UNCTAD 3:30 Understanding investor decision making 4:30-6:00 Principles and development objectives of investor targeting UNCTAD Wednesday 5 November 9:00 Identifying target sectors and target companies UNCTAD 10:30 PAUSE 10:45 Selecting and approaching investors UNCTAD 12:30 LUNCH 2:00 Generating the investment UNCTAD 3:30 6:00 Country presentations Thursday 6 November 9:00 Regional cooperation in investment promotion for development 10:30 PAUSE 10:45 Cluster development Andean Corporation for Development (CAF) 12:30 LUNCH 2:00 Policy Advocacy and Good Governance in Investment UNCTAD Promotion 3:30 Country presentations UNCTAD 4:00 6:00 Investment Promotion in International Investment Agreements UNCTAD Friday 7 November 9:00 Corporate Development Support or Investor Aftercare: UNCTAD following up investment to ensure development impact 10:30 PAUSE 11:00-12:00 Wrap up Certificate and closing ceremony UNCTAD SELA Spanish Government Representative (to be confirmed) September
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