Muscat, May 5th 2013 - The Public Authority for Investment Promotion and Export Development's (PAIPED) efforts to connect Omani businesses to international markets was recognised in Geneva at an award ceremony held by the United Nations Conference on Trade and Development (UNCTAD).  

Led by Nasima Al Balushi, Director General of Export Development, the PAIPED delegation picked up the night's top UNCTAD award for 'Excellence in Promoting Export-Oriented Foreign Direct Investment (FDI)'. 

Al Balushi said: "Every day, I work with a team of seasoned and knowledgeable investment and export professionals who are fully committed to help attract and win investment and facilitate the export of Omani non-oil products and services. We have representatives in every major market and the global expertise and reach to assist companies set-up in the Sultanate as well as penetrate new markets. The UNCTAD award will serve as an added motivator and incentive to the Team as well as the companies we work with."

Over the years, PAIPED has made significant progress promoting Omani non-oil products and businesses internationally. For instance, its B-2-B matchmaking events and participation at international trade shows has increased the Sultanate's trade and investment profile as well as highlighted the quality and technical expertise of Oman's growing manufacturing sector. "The next stage is to solidify our gains and maintain growth by creating more opportunities and initiatives that promote Oman's offer as a manufacturer of quality international products, which in turn will help us attract and win further inward investment," added PAIPED's Director General of Export Development.

Al Balushi went on to say: "We work closely with companies across Oman, firms that manufacture outstanding products, everything from food and beverage, marble, steel through to automotive spare parts - it's exciting to work with these businesses and see them grow. The UNCTAD award should be dedicated to them - they deserve it."

The UNCTAD Investment Promotion Awards are given annually for excellence in attracting and facilitating investment for sustainable development. This year's awards honoured the achievements of investment promotion agencies (IPA) in attracting quality export-oriented FDI projects that have helped local economies improve export competiveness.

The investment decisions of transnational corporations (TNCs) are today increasingly linked to international trade patterns and the growth of global value chains (GVCs), which contribute to 80 per cent of the world's trade. Government policymakers and IPAs are targeting export-oriented investment - often related to GVCs - to their shores. Such investments help countries broaden their participation in GVCs as well as capture higher-value activities and upgrade exports.

His Highness Sayyid Faisal Al Said, PAIPED's Director General of Marketing & Media remarked: "We're intent on paving the way for Oman to become a leader in the Innovation Economy and be recognized as a competitive and proactive, business-friendly environment. The UNCTAD award says a lot about what PAIPED has achieved to date. This accolade belongs to all who have contributed to PAIPED's important work in attracting and winning investment. This is indeed an outstanding achievement for Oman."

About UNCTAD
Established in 1964, UNCTAD promotes the development-friendly integration of developing countries into the world economy. UNCTAD has progressively evolved into an authoritative knowledge-based institution whose work aims to help shape current policy debates and thinking on development, with a particular focus on ensuring that domestic policies and international action are mutually supportive in bringing about sustainable development.

The organization works to fulfill this mandate by carrying out three key functions. It functions as a forum for intergovernmental deliberations, supported by discussions with experts and exchanges of experience, aimed at consensus building. It undertakes research, policy analysis and data collection for the debates of government representatives and experts. It provides technical assistance tailored to the specific requirements of developing countries, with special attention to the needs of the least developed countries and of economies in transition. When appropriate, UNCTAD cooperates with other organizations and donor countries in the delivery of technical assistance.

In performing its functions, the secretariat works together with member Governments and interacts with organizations of the United Nations system and regional commissions, as well as with governmental institutions, non-governmental organizations, the private sector, including trade and industry associations, research institutes and universities worldwide

For more information, please visit: www.unctad.org

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© Press Release 2013