Investment Policy Reviews

The investment policy reviews and investment guides produced by UNCTAD had been valuable in improving the investment policy environment in those countries.

Investment policies should extend to both domestic and foreign direct investment.

General comments on the IPR programme

Such FDI policies include investment subsidies, tax abatements, and exemptions from domestic regulation and laws.

Moreover, there ought to be more coordination between national investment policies and IIA negotiations.

It was stressed that the Invest in Peace programme should be extended to other such countries, with the assistance of UNCTAD's IPR programme.

The secretariat emphasized the need to further strengthen the follow up to the IPRs' recommendations.

In carrying out these functions, the secretariat should ensure synergies between its GGIP programme and other related activities of the Division and its work on investment policies, especially the investment policy reviews, which will help to ensure that the impact of such programmes is sustainable.

The representative of Brazil, referring to item 5, entitled Investment Policy Reviews Exchange of national experiences , said that his Government greatly appreciated UNCTAD's work on the Investment Policy Reviews.

The representative of Brazil, referring to item 5, entitled Investment Policy Reviews Exchange of national experiences , said that his Government greatly appreciated UNCTAD's work on the Investment Policy Reviews.

One of the reasons for this is that in most Latin American and Caribbean countries, FDI policies focus on attracting large quantities of FDI and do not pay much attention to the nature of FDI.

The Expert Meeting will focus on the issues of FDI data compilation and analysis and its role in the formulation of FDI policies from a development perspective.

The Invest in Peace approach pursued in Sri Lanka may be a useful example for IPRs in other post conflict countries.

The effectiveness of investment policy reviews is measured by the extent to which key recommendations are implemented and their impact is maximized.

This figure assumes that China's restraint policies succeed in reducing investment in new steel producing capacity.

Environmental considerations should also be factored into foreign direct investment and trade policies as drivers of development.

There were 11 outstanding requests for IPRs in Africa at the end of March 2005, and an IPR for Rwanda is to be initiated shortly, with IPRs for Morocco and Nigeria in the preparatory phase.

This could be achieved through UNCTAD's existing intergovernmental forum and by preparing short investment policy briefs aimed at policy makers and investment promotion agencies.

(iv) The number of countries that have adopted investment and trade liberalization policies, including the removal of physical and non physical barriers.

Summary of deliberations of the Investment Policy Reviews of Algeria, Benin and Sri Lanka (TD B COM.2 65).

But the world also needs policies to boost investment in Asia, Latin America, the Middle East, and Africa.

The UNCTAD secretariat concluded the discussions by stressing that it would follow up on all the proposals made regarding the improvement of the IPR programme.

The secretariat informed the Commission that the IPR programme was undergoing an evaluation by a donor country, for the purpose of improving its impact and methodology.

The Good Governance in Investment Promotion programme, the linkages programme, the Invest in Peace initiatives and the Blue Books were all designed to help countries in their efforts to implement the IPRs' recommendations.

The section of the report on national strategies highlighted the importance of growth oriented economic policies and discussed investment, as well as science, technology and innovation.

Furthermore, it was stressed that the UNCTAD secretariat should increase its efforts to monitor the implementation of the IPR recommendations.

In this regard, UNCTAD should continue to support country level processes in policy implementation through its programmes on investment policy reviews, investment guides and the linkage programme.

Several experts noted that in many countries there is a lack of coherence between FDI policies and science and technology policies.

The UNCTAD secretariat provided an overview of the Investment Policy Reviews (IPRs) programme and follow up activities in terms of work done and future plans.

The project Needs Assessment to Attract Asian FDI to Africa provides assistance to African countries in formulating policies favourable to attracting FDI from Asia, including SMEs.

It invested in education and technology, pushed a high savings rate, enacted a strong and effective affirmative action program, and adopted sound macroeconomic policies.

Venezuela, Bolivia, Ecuador, and Nicaragua have opted for this pattern of international assertion, which also includes statist economic policies that demonize foreign investment.

Efforts should also be made to disseminate, as widely as possible, specific lessons arising from investment policy reviews and follow up activities carried out by UNCTAD.

It was reported that the new Government of Algeria, which had been in place since 2004, had endorsed and begun implementing all the recommendations of the IPR.

(b) Devising policies in support of the process of economic development focusing on increasing the rates of investment and preserving an acceptable degree of economic stability and social justice.

It will focus on the development dimension of international investment and technology flows, the interface of global processes and national policy making and the integration of investment, technology and enterprise development policies.

In its section on development, the chapter on national strategies highlighted the importance of growth oriented economic policies and discussed investment, as well as science, technology and innovation.

The Commission commends the assistance provided to developing countries through investment policy reviews and the follow up process in the implementation of recommendations contained therein.

Specific promotion policies were also necessary in both home and host countries, particularly LDCs.

Also, it pointed out that the provision of additional funds was indispensable for the success of the programme, while thanking the donor countries that had already made a financial contribution to the IPRs.

The Review action plan recommended that action be taken to review and update the current investment legislation, to reform land access, to strengthen the local investment promotion agency, to promote good governance and to devise proactive policies dedicated to the promotion of national and regional investment opportunities.

A positive result with respect to the IPR methodology was reflected in the time needed to prepare an IPR, which had been reduced from more than two years for the first reports to an average of six to eight months.

Although a marked liberalization, and deregulation and privatization policies, had been implemented, FDI inflows to Africa as a proportion of total developing country inflows had declined.

In addition, the EU stressed the interest it attached to the peer review approach adopted in the Investment Policy Reviews.