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Okko-Pekka Salmimies outlines modalities for the update of the OECD Policy Framework for Investment currently underway. This presentation was made at the Southeast Asia Regional Forum in Bali, Indonesia, on 24-26 March 2014. Find out more at http://www.oecd.org/daf/inv/investment-policy/seasia.htm - http://www.oecd.org/daf/inv/mne/pfi.htm - http://www.oecd.org/globalrelations/seaforum.htm
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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