UPDATING THE POLICY FRAMEWORK FOR INVESTMENT 1st Global Task Force Meeting
Bali, 24 March 2014
Ambassador Okko-Pekka Salmimies
Finland, Co-Chair
Investment policy
Investment promotion
and facilitation
Trade
Competition
Tax
Corporate governance
Policies for promoting responsible
business conduct
Human resource
development
Infrastructure and financial
sector development
Public governance
• A multilaterally-backed instrument to improve the investment climate building on good practices in OECD and non-OECD countries
• 82 questions in 10 policy areas
• OECD Initiative on Investment for Development launched in Johannesburg in November 2003;
• PFI developed by 60 OECD and non-OECD participants in a task force established under the aegis of the OECD Investment Committee with inputs from 8 OECD committees (horizontal);
• A set principles underpinning a healthy environment for all investors (Monterrey Consensus);
• Neither prescriptive nor binding, emphasises fundamental principles of rule of law, transparency, non-discrimination and the protection of property rights; One size does not fit all;
• The PFI stresses good governance: • laws and regulations • design, implementation and evaluation
• Contributes to implementing the OECD Strategy on Development;• Has been used in various ways: OECD Investment Policy Reviews, in regional
investment programmes, for seminars and capacity building
From principles to a framework
OECD Investment Policy Reviews since 2006
Sub-saharan Africa Zambia Burkina Faso Mozambique Botswana* Tanzania Mauritius* Nigeria*
Asia India China (2) Viet Nam* (2) Indonesia Lao PDR* Malaysia Myanmar Philippines*
MENA Egypt Morocco Tunisia Jordan
South America Peru Costa Rica Colombia
Eurasia Ukraine Russia Kazakhstan
* On-going or planned
Updating the PFI
• Global landscape of investment has changed since 2006
• New policy challenges• New players, new priorities, new partners• Some 3o countries and various regional
economic communities have and are using the PFI
• Need to update the instrument, incorporate new dimensions and receive users’ feedback!
• Through: Task Force meetings in regions and OECD Headquarters, technical revisions in OECD committees, web-based consultations
• Objective: Complete by 2015