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