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
3. • 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
4. 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
5. 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