The headquarters of the World Association of Investment Promotion Agencies (WAIPA) currently in Geneva, Switzerland, will be relocated to Istanbul, Turkey’s financial capital, by the early next year.
Receiving the vast majority of the votes cast by the organization’s General Assembly during the WAIPA World Investment Conference, Istanbul has been designated as the new home of WAIPA, bringing yet another head office of an international entity to take advantage of its excellent infrastructure and unique continent-spanning location.
“This decision will make Istanbul the head office of an umbrella organization that covers 244 national and regional investment promotion agencies from 162 countries. Reporting to the highest authority in their respective countries, WAIPA members’ choosing of Istanbul also serves as an important example for other international organizations”, ISPAT and WAIPA President Ilker Ayci said following the announcement of the decision.
“As a reference point in research and reporting on foreign direct investments (FDI), a Turkey-headquartered WAIPA is in line with Istanbul’s becoming of an international finance center. Being home to WAIPA, Istanbul will also host the most prestigious event related to global FDI every two year. Turkey’s leadership role in an international organization is an important contribution to the country’s prestige and influence before Turkey takes over the Presidency of the Group of Twenty (G20) organization in 2015”, Ayci noted.