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UPDATING THE POLICY FRAMEWORK FOR INVESTMENT 1 st Global Task Force Meeting Bali, 24 March 2014 Ambassador Okko-Pekka Salmimies Finland, Co-Chair

Updating the Policy Framework for Investment - Okko-Pekka Salmimies – Southeast Asia Regional Forum

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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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Page 1: Updating the Policy Framework for Investment - Okko-Pekka Salmimies  – Southeast Asia Regional Forum

UPDATING THE POLICY FRAMEWORK FOR INVESTMENT 1st Global Task Force Meeting

Bali, 24 March 2014

Ambassador Okko-Pekka Salmimies

Finland, Co-Chair

Page 2: Updating the Policy Framework for Investment - Okko-Pekka Salmimies  – Southeast Asia Regional Forum

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

Page 3: Updating the Policy Framework for Investment - Okko-Pekka Salmimies  – Southeast Asia Regional Forum

• 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

Page 4: Updating the Policy Framework for Investment - Okko-Pekka Salmimies  – Southeast Asia Regional Forum

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

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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