TN bags UN award for investment promotion

CHENNAI: Guidance – the nodal agency for Investment Promotion under the Department of Industries, Investment Promotion and Commerce, Government of Tamil Nadu received the prestigious United Nations Promotion Award 2023 For Excellence in Scaling Up Energy Transition Investments at the 8th World Investment Forum held at Abu Dhabi.

The UN award is in recognition of Guidance’s efforts to attract investments using innovative approaches for promotion, finance, and partnerships in energy transition promotion. It is a matter of pride that Guidance is South Asia’s only Investment Promotion Agency to get the UN Award this year.

V Vishnu, Managing Director and CEO, Guidance, received the UN award from Rebeca Grynspan, Director General, UNCTAD.

This was followed by an event attended by Heads of States, Investment Promotion Agencies (IPA) worldwide, and Government representatives. The biennial World Investment Forum, organised by the United Nations Conference on Trade and Development (UNCTAD) since 2008, monitors the mainstreaming of sustainable development goals by Investment Promotion Agencies and conducts regular surveys.

Based on UNCTAD’s research and survey, this year’s edition of the UN Investment Promotion Awards recognises the work of IPAs in attracting investment for climate action, with consideration of innovative approaches to investment promotion, finance, and partnerships.

Guidance was among India's first Investment Promotion Agencies with the mandate of investment promotion and facilitation. It is also vested with the role of drafting industrial policies.