ADDIS ABABA, Ethiopia, November 25, 2015/APO (African Press Organization)/ —
INVITATION TO REPRESENTATIVES OF THE MEDIA
What: Continental Meeting on the Review and Consideration of the Pan African Investment Code (PAIC).
Who: Economic Integration and Regional Division, African Union Commission
When: 30th November – 2nd December 2015 from 9.00 A.M (TBC)
Where: Speke Resort Munyonyo, Kampala, Uganda.
Objectives:
The primary objective of the study is to create a conducive environment to attract greater flows of investments into Africa and facilitate intra-African cross-border investments which are critical to the success of economic integration in the continent. It takes cognizance of the critical role that investment plays to enable the attainment of high levels of economic growth, wealth creation, poverty alleviation as well as enhancing the integration agenda.
The specific objective of the study is to elaborate a Pan-African Investment Code (PAIC) model based on international best practices in order to establish the appropriate business climate which would stimulate more investments at the national, regional and continental levels, and develop a roadmap and strategy on how AU MS can adopt this model to suit their respective local situations.
Expected Outcomes:
The Review and Consideration of the Pan African Investment Code, the final version of the PAIC will be submitted to the Special Ministerial Technical Committee on Economy, Finance and Integration Matters in March 2016 for consideration and adoption before its submission to the AU Heads of State and Government for its final adoption and subsequent implementation
Participants: The meeting will be attended by experts from AU member States and the Regional Economic Communities.
Background: The Commission of the African Union (AUC) was mandated during the third Conference of African Ministers in charge of Integration (COMAI III) held in Abidjan, Côte d’Ivoire, on 22-23 May 2008, “to develop a comprehensive investment Code for Africa with a view to promoting private sector participation”. The AUC was also requested by the Ninth Meeting of AU-RECs-ECA-AfDB Coordination Committee, held on 25 January 2012, in Addis-Ababa, Ethiopia “to carry out a study with a view to establishing a Pan-African Investment Code
Journalists are invited to cover the meeting on the 30th November – 2ND December 2015, 9:00AM at the Speke Resort Munyonyo, Kampala, Uganda.
