Communication for Sustainable Development

Framework urged for sustainable investment

Muscat The advisory board meeting of Vale Columbia Centre on Sustainable International Investment, a global think-tank on the environment and sustainable foreign direct investment (FDI), hosted by BankMuscat, has called for the creation of a framework favourable to long-term investment in emerging markets.

For investors to succeed and for host countries to reap the potential benefits of such investments, a mutually agreeable sustainable investment framework should last for decades and accommodate unexpected shocks that will arise during the lifetime of investments, the Centre said. Renowned global experts on sustainable FDI attended the meeting held at the new headquarters of BankMuscat.

With the meeting held in the sultanate for the first time, Oman came under the spotlight as a model for sustainable development.

Leading forum

Shaikh Abdul Malek Bin Abdullah Al Khalili, Chairman of BankMuscat, is a founding member and the only Arab member on the Vale Columbia Centre Advisory Board, a leading forum for discussion by scholars, policymakers, development advocates and other stakeholders of issues related to FDI in the global economy.

"The event was an enormous success as it was superbly hosted by BankMuscat in its brand new, magnificent headquarters. The VCC Board once again stressed the importance of sustainable development and the need to always work aiming to build a positive legacy to host countries," said Roger Agnelli, CEO and President of Vale.

Dr Karl Sauvant, Executive Director of the Vale Columbia Centre on Sustainable International Investment and Advisory Board member, said: "The mission of Vale Columbia Centre on Sustainable International Investment is to explore the range of issues related to sustainable FDI in emerging markets. Its work benefits from the overall guidance of the high-level advisory board."

Joint initiative

The Vale Columbia Centre is a joint initiative of the Columbia Law School and The Earth Institute at Columbia University. It promotes the analysis of trends in FDI, consequences of FDI for sustainable development and the consideration of appropriate policies for sustainable FDI.

Its objectives are to analyse policy-oriented issues related to FDI and develop and disseminate practical approaches and solutions.
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