MEFMI / COMESA Conduct Joint Training on Foreign Direct Investment

MEFMI collaborated with COMESA to train officials from the region on Foreign Direct Investment (FDI) during the period 18 to 29 October 2021. The training was organised in response to observed deficiencies in the FDI data collection, compilation and dissemination practices in the region. A total of 63 officials (39 male and 24 female) from 15 COMESA countries attended the workshop. Of the total participants, 24 officials were from MEFMI member countries and included eight (8) females and 16 males. MEFMI Accredited Fellows namely; Dr. Wilson Phiri from the Bank of Zambia and Mr. Rodney Lwanga from the Bank of Uganda facilitated the training.

The workshop was designed to enhance knowledge and skills on collection and compilation of direct investment and foreign affiliates’ statistics. It included various practical sessions that imparted skills on survey methodology, data validation, the use of mirror datasets for closing data gaps, estimation and forecasting techniques. As part of the workshop activities, participants were invited to attend the UNCTAD Symposium on FDI Statistics and Development Impact, which took place during the World Investment Forum 2021. This session discussed emerging issues affecting FDI data compilation, analysis, and formulation of FDI policies; which enriched the learning experience. Further, representatives from IMF and OECD at the symposium highlighted the ongoing processes of updating the BPM6 manual that are pertinent to the compilation of FDI and Foreign affiliate trade statistics. The workshop also provided a platform for MEFMI to showcase its Private Capital Flows Monitoring System (PCMS) which is a web-based software that has been developed to assist countries in reporting data on foreign investment.

MEFMI expects that participants will apply the knowledge and skills gained from the course to improve the quality of direct investment statistics in their countries, and explore various data sources to close existing data gaps. This will subsequently improve the quality of their Balance of Payments and International Investment Position statistics as well as guide evidence-based policy formulation on the external sector and investment promotion.

Prepared by Vivian Namugambe