(e) rights conferred by law or under contract, including licences to search for, cultivate, extract or exploit natural resources: Provided that nothing in this definition shall prevent a State Party from excluding short-term portfolio investments of a speculative nature or any sector sensitive to its development or which would have a negative effect on its economy. A State Party that has invoked this provision shall notify the Secretariat for information purposes within a period of three (3) months; "IPAs" 2. means the investment promotion agencies of State Parties that: (a) actively promote and facilitate investments; (b) proactively identify business opportunities for investments; (c) encourage expansion of existing investments; (d) develop a favourable investment image of their countries; (e) make recommendations for improvements of their countries as investment destinations; (f) keep track of all investors entering and leaving the country for the purpose of analysis in terms of investment performance; or (g) play the role of advising investors upon request on the availability, choice or sustainability of partners in joint venture projects. Nothing in this definition prevents a State Party from excluding short-term portfolio investments of a speculative nature or any sector sensitive to its development or which would have a negative effect on its economy. State Parties who have invoked this clause shall notify the SADC Secretariat for information purposes within a period of three (3) months. "investor" means a person that has been admitted to make or has made an investment; "least-developed countries" means, for purposes of Article 19 of this Annex, those State Parties classified as such by the United Nations; 28