Lagos, 5 June 2017. The Economic Community of West African States (ECOWAS) and the World Bank Group will co-host the ECOWAS Investment Policy and Promotion Workshop in Lagos, Nigeria from June 6-8, under the European Union funded Improved Business and Investment Climate in West Africa Project. The Project is 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.

Over 70 public and private sector representatives from 15 Member States of ECOWAS, as well as representatives from the ECOWAS Commission, the West African Economic and Monetary Union (WAEMU), the European Union, and the World Bank Group will attend the two-day event.

The purpose of the workshop is to provide a forum for ECOWAS Member State governments, ECOWAS and WAEMU 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, and for participants to deepen their familiarity and understanding of Investment Policy and Promotion (IPP).

The workshop aims to discuss the role of an open investment policy and a conducive investment climate in the attraction of investment from investors’ perspectives and to discuss also how countries can promote new investment, especially in new sectors, and encourage the retention and expansion of existing investment, with a focus on fragile and conflict situations.

The workshop will share insights on leveraging Foreign Direct Investment (FDI) and the evolving international investment environment to achieve domestic business environment reforms in the ECOWAS region; and learn about the WBG’s IPP offering and how it can serve as a “connector” between domestic reform, regional reform and development, and review concrete experiences and lessons from experts related to IPP reform in practice.