“The investors want an investment opportunity where they will be safe, where it will be easy to do business. Core to the success of the strategy will be Team Durban, a new advisory board of no more than 15 members drawn mainly from business, academia and labour. COVID-19 poses a number of threats and policy challenges to all economies, ranging from the shocks to the health system, the disruption of local and international production and distribution networks, the collapse of domestic and global demand, and the resulting rise in unemployment, debt and macroeconomic instability. This, it is hoped, will translate to about R3.3 billion in new investment and to about 4 000 new high-skills jobs being created. An investment promotion strategy provides mayors, city governments and other key decision-makers with a plan for attracting both domestic and foreign direct investment (FDI). It also provided recommendations meant at removing key obstacles to investment in those sectors, as part of a long-term strategy for promoting and benefiting from foreign and domestic investment. Sithole said it was envisaged that the new strategy would lead to the generation of new revenue streams for the city through property rates and taxes, the creation of jobs, skills development and economic transformation. “Durban is an award-winning city. In building the capacity to attract investment, cities: Develop a city investment promotion strategy and action plan. ... 2 | Strengthening Investment Promotion Regimes for Foreign Direct Investment in the Least Developed Countries world-wide, which rose to slightly more than double their value over the two periods. The strategy will be driven by the Invest Durban unit of the city. Author: Alex Sanchiz Vicente Created Date: 7/8/2019 3:43:48 PM The unit will target five primary sectors, namely automotive industries, logistics, ICT, Agri-processing and Life sciences which includes things like pharmaceuticals, biomedical devices and health services. Promotion should not be seen as a substitute for more general policy reforms or try to camouflage underlying weaknesses in the investment climate. – diversifying the economy. Investment promotion is targeted to both domestic as well as foreign companies. o Please also note, that the service provider may be called‐upon (at the most, on three occasions) to present the Five Year Investment Promotion Strategy to an audience of key internal and external stakeholders, including the WBG. FDI flows are also slowing dramatically. In November 2019, the United Nations Conference on Trade and Development (UNCTAD) published an Investment Policy Review (IPR) of Armenia, following a request of His Excellency the President, Mr. Armen Sarkissian. In line with the vision set forward for the country to make Armenia a worldwide hub for innovation, ever more relevant in the context of the current crisis, this joint report, at the request of President Sarkissian, aims to assist the authorities in identifying priority actions to contain divestment and support new and existing investors, based on the comparative advantage in high-tech, software and engineering activities, with a special focus on artificial intelligence (AI), data science and deep technology, as well as food safety and security.