Committee
ECOSOC
Country
Belgium

Author

Cite as https://mymun.com/ppdb/18677

Committee: ECOSOC

Country: Kingdom of Belgium

Delegate: Aleksandra Ivanova, German School of Sofia

Topic: National sovereignty and foreign direct investments in Africa

 

In the era of globalization, it is hard for a country to maintain its national sovereignty. The Kingdom of Belgium recognises the positive effects of investments in Africa aimed at fighting poverty and supporting sustainable development. Foreign Direct Investment (FDI) is an opportunity for providing more jobs and development, as major projects of foreign investors created about 150,000 new working opportunities in Africa in 2014 alone. However, it is of great importance to consider the problems that occur now or may occur in the future. The Kingdom of Belgium is concerned, as there are African countries which are politically instable. 

On a national level, the Kingdom of Belgium created The Belgian Investment Company for Developing Countries (BIO), which is active in over 60 countries in Asia and Africa. If a potential investment project can impact strongly on the development of the local private sector, foster sustainable development and fight poverty, it may be eligible for BIO funding. As an example of the private sector, Belgium-based commercial real estate development firm “Pylos” invests in the real estate sector, planning on building shopping centres in Mozambique and Zambia, thus increasing the FDI in both countries. Furthermore, the Kingdom of Belgium has already made numerous efforts on the matter with the aim to help the developing countries on the African continent become more economically stable, such as the construction of  solar power plants in Nigeria by “SkyPower” and “FAS Energy”. The Kingdom of Belgium welcomes the progress that has been made throughout the years, for example through the African Union, which helps to maintain the legal certainty to foreign investors in the African Continent and ensures that the investments are being recognized and legally protected by national authorities.

The goal of the international community, in particular of the Kingdom of Belgium, is to protect the national sovereignty of African countries and assure it is not affected by foreign direct investments. Belgian development cooperation sets out to achieve its objectives by concluding various partnerships, for instance with governments in developing countries (for example South Africa, Rwanda, Burundi and DRC) and other donors present in the partner countries (governmental cooperation) and with non-governmental actors in Belgium and its partner countries. Furthermore, it is our common goal to find a solution for the problem because of the lack of political and economic stability. Thus, the Kingdom of Belgium suggests that the next step should be reviewing the ownership of properties which have ownership issues and need additional clarification, as selling or defending the rights over these properties becomes a hard and sometimes impossible process. Finally, the ...

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