COMESA REGIONAL INVESTMENT AGENCY (COMESA RIA)
COMESA Regional Investment Agency was launched in 2006 to promote COMESA Member States and to increase awareness on their investment incentives, opportunities, legislation, practices, major events affecting investments and other relevant information in view of attracting FDI for the sustainable economic development of the COMESA region, in particular infrastructure development.
The objectives set-out in COMESA RIA’s Charter are as follows:
- To make COMESA one of the major destinations for regional and international investors while simultaneously enhancing national investment; and
- To carry out other activities in the area of investment promotion, facilitation and advocacy in conformity with the COMESA Treaty.
Moreover, in terms of functions, the Charter mentions:
- Gather and disseminate information including creation and maintenance of a database and website. RIA will collect and disseminate, through publications and its website, detailed information on policies affecting the business environment, cost of doing business, investment procedures, investment opportunities and other relevant information in Member States.
- Identify and promote investment opportunities, with special focus on projects with regional impact; RIA shall identify and promote infrastructure projects and other investment projects with regional impact.
- Provide training and development support for National Investment Promotion Agencies in Member States and facilitate capacity building programmes at a regional level.
- Support the improvement of the national investment environments in Member States by identifying best practices. RIA shall identify constraints in the investment environment of Member States and make recommendations as appropriate for their removal.
- Promote COMESA as a common investment area; RIA will proactively promote the COMESA and Common Investment Area through several activities including image-building activities abroad, investment missions, website, advertisement and tailor-made public relations programmes.
Beyond what is stated in its Charter, COMESA RIA’s working missions since its inception have been to promote the COMESA region as an attractive investment destination and to build the capacity of COMESA Member States Investment Promotion Agencies (IPAs) to attract investment.
Furthermore, while COMESA RIA’s main stakeholders are COMESA Member States’ IPAs as reflected in its Board of Director composition, COMESA RIA’s main targets have been private sector and main final beneficiaries the general COMESA population.
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Post expires at 12:44pm on Wednesday October 21st, 2020