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The Investment Infomeister

A World Bank member brings a wealth of investment information to your fingertips

The most detailed and comprehensive investment information system on emerging markets ever assembled is now at the fingertips of investors worldwide.

The result is due to the efforts over the past five years of World Bank member, the Multilateral Investment Guarantee Agency (MIGA). The agency has capitalized on the broadening availability of Internet services to publicize investment opportunities in the developing world.

Founded in 1988 to offer cross-border investors insurance against political risk, MIGA now manages two Internet-based information services. They are the Investment Promotion Network (IPAnet), an on-line global clearinghouse of investment opportunities and business environment information launched in 1995; and PrivatizationLink, a country-and-sector information service featuring detailed profiles of enterprises slated for divestiture in emerging markets.

Two other on-line initiatives are presently being developed . Now in the pilot phase, the African Connection is a Web site in French and English providing business and regulatory information on the telecommunications sector in Africa on account of its potential to foster overall economic development and growth throughout the continent. It will be established as a specialized window within IPAnet. Scheduled to come on stream in the fall of 2000, PrivatizationLink Russia will be an information service in Russian and English on privatization and other direct investment opportunities in Russia.

As part of an ongoing program to close the "information gap" potential investors frequently encounter in exploring emerging markets, MIGA also delivers customized technical assistance to investment intermediaries on how to effectively utilize the Internet for investment promotion and research.

John R. Wille, a program manager, with MIGA's office of Investment Marketing Services, said IPAnet began at the "Dawn of the Internet when some trade and investment promotion organizations, such as World Trade Centers, were just beginning to use commercial value-added networks (VANS) to disseminate information internationally." When the Internet appeared, "It seemed a good idea to link available information on a Web site from those countries with no decent Internet access." Mr. Wille said more than 150 IPAs have since built Web sites. "We have turned into a cataloging tool for information in a particular country or cross-country on the same area." IPAnet now links to 600 different information providers and carries such features as a calendar of conferences on foreign investment sponsored by the World Bank and bodies such as Euromoney Corp., plus a directory of IPA web sites.

The specific focus of PrivatizationLink, an offshoot of IPAnet, said Mr. Wille, began "In recognition of the need for a different type of information, the need for a different user experience which involved bringing together different resources and functionality."

"The African Connection (AC)," said Mr. Wille, "is meant as a tool not only to further the regulatory harmonization efforts in the sector but also provides information to explore opportunities in Africa." The larger aim of the initiative, said Mr. Wille, is to "Develop more cohesive regional markets so that (foreign) telecom operations are not just looking at one country in isolation." Mr. Wille said the major emphasis in the launch of PrivatizationLink Russia is the "Mobilization of information." He said, "In the Russian Federation, quality information is not easy to come by, especially in the regions," stressing MIGA's efforts to give the site a regional as well as a national focus in Russia. The Canadian Investment Development Agency (CIDA) has been instrumental in its launch, contributing $450,000 in funding. "The Canadian government took the view that the site would be of particular interest to Canadian business in general, and particularly in sectors such as mining where their companies have global operations," said Mr. Wille.

MIGA's excellence in this field has earned the agency recognition. IPAnet was selected a finalist by the Financial Times for its 1998 public sector category Business Web Site of the Year award while the following year the FT chose PrivatizationLink as a finalist for the same award within the same category. For the future, the agency is in the planning stages of a new e-mail based update service which will provide registered users with periodic e-mails with links to new investment opportunities , research and related information which fits their expressed interests.

By promoting the web presence of emerging market IPAs and striving to better match opportunities with investor needs, MIGA has developed into a truly global investment information service provider, and as such stands a major facilitator in the progress of the developing world.

by Charles Duerden (cad@kotra.co.kr)