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WIR12 Dear Members of the World Investment Network, It is my pleasure to share with you UNCTAD's ninth Investment Policy Monitor. The period in review (November 2012–February 2013) was marked by a notable increase in new investment restrictions and regulations, with the Monitor registering that the share of such measures reached a new height (i.e. 36 per cent). Nonetheless, investment liberalization and promotion remained the dominant trend in national investment policies. The reporting period also saw fifteen changes in corporate tax rules, with nine reducing and six increasing the tax rate. At the international level, the move towards regional investment agreements gained further momentum, while the conclusion of new bilateral investment treaties continued to slacken, and stakeholders increasingly voice their views. UNCTAD’s Investment Policy Monitor is a regular publication that provides the international investment community with country-specific, up-to-date information about the latest developments in foreign investment policies, both at the national and international level. I hope that you find our Investment Policy Monitor useful and interesting - please feel free to also share it with your colleagues! Best regards, James X. Zhan Director Investment & Enterprise Division United Nations Conference on Trade & Development Palais des Nations, Geneva Tel: +41 22 9175797 www.unctad.org/diae