Business Calls for Better Investment Climate in Africa to Improve People’s Lives and Foster Social Stability

“Creating favorable conditions for foreign and domestic private investment in Africa is essential to provide new engines of growth and employment, which will help improve social conditions,” said Marie Gad, chair of the Africa Group of the Business and Industry Advisory Committee to the OECD (BIAC), USCIB’s affiliate, at a conference in Dakar, Senegal.

Much of Africa has experienced strong growth over past years, but increasing food prices, a lack of jobs (particularly among young people), pervasive corruption and aging infrastructures pose a risk to stability and development. These problems need to be tackled if Africa’s development is to be sustained and strengthened.

At the fifth ministerial conference of the NEPAD-OECD Africa Investment Initiative, Ms. Gad advised ministers that “the large generation of young people in Sub-Saharan Africa is a fantastic resource for development. However, the lack of access to productive employment, together with the difficult economic situation including rising food prices, could lead to social unrest, which would disrupt political and economic stability and deter investors.”

Read more of this story on BIAC’s website

Staff contact: Justine Badimon

More on the Business and Industry Advisory Committee to the OECD

CEO Roundtable on APEC

As part of the APEC Business Coalition, USCIB has the pleasure to extend an invitation for nominations of a member company CEO for the forthcoming State Department CEO Roundtable on APEC, which is scheduled for January 14, 2010.

The roundtable, to be hosted by Secretary of State Hillary Clinton, presents an excellent opportunity to interface with 30 top U.S. company CEOs doing business in the APEC area, as well as top-level U.S. government officials.  The secretaries of the treasury, commerce, transportation, energy, and the U.S. trade representative have attended this roundtable in the past.

Please contact Justine Bareford (jbareford@uscib.org) if you would like to put forward your company’s CEO for consideration for this high-level APEC event.  Nominations must be received no later than November 20.

In other APEC news, this year’s APEC CEO Summit will be held November 12-14 in Singapore.  This event will be attended by the world’s top business leaders as well as leaders from many APEC countries.  President Barack Obama is expected to address delegates at the summit as part of his inaugural visit to Asia.  The two-day summit will focus on addressing the economic crisis and key global issues.

USCIB will be represented at the APEC CEO Summit by our consulting director for APEC affairs, Kimberly McLaughlin.

Staff contact: Justine Bareford