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Dear Colleagues, It is my pleasure to share with you key findings on recent developments in investment policymaking at the national and international level from this year's UNCTAD World Investment Report 2016. Most new investment policy measures (85 per cent) continue to be geared towards investment liberalization and promotion. Emerging economies in Asia were most active in investment liberalization, across a broad range of industries. Where new investment restrictions or regulations were introduced, these mainly reflected concerns about foreign ownership in strategic industries. A noteworthy feature in new measures was the adoption or revision of investment laws, mainly in some African countries. National security considerations are an increasingly important factor in national investment policies. Countries use different concepts of national security, allowing them to take into account key economic interests in the investment screening process. Governments’ space for applying national security regulations needs to be balanced with investors’ need for transparent and predictable procedures. The universe of international investment agreements (IIAs) continues to grow, reaching 3,304 agreements by year end. In 2015, 31 new IIAs were concluded and by May 2016, close to 150 economies were engaged in negotiating at least 57 new IIAs. Recent IIAs follow different treaty models and regional agreements often leave existing bilateral treaties between the parties in force, increasing complexity. With 70 cases initiated in 2015, the number of new treaty-based investor-State dispute settlement (ISDS) cases set a new annual high. As of 1 January 2016, the total number of publicly known ISDS claims had reached 696. One hundred and seven countries have been respondents to one or more known ISDS claims. IIA reform is intensifying and yielding the first concrete results. A new generation of investment treaties is emerging. UNCTAD’s Investment Policy Framework and its Road Map for IIA Reform are shaping key reform activities at all levels of policymaking. Despite significant progress, much remains to be done. The 2016 World Investment Forum offers the opportunity to discuss how to carry IIA reform to the next phase. Promoting and facilitating investment is crucial for sustainable development agenda. At the national level, most efforts relate to investment promotion rather than facilitation. In IIAs, concrete facilitation measures are rare. In January 2016, UNCTAD launched its Global Action Menu for Investment Facilitation, building on its 2012 Investment Policy Framework and the organization's rich experience in investment promotion and facilitation efforts worldwide over the past decades. The Action Menu consists of 10 sets of actions. It includes policy options that countries can implement at national level, and options that can guide international collaboration or that can be incorporated in IIAs. With best regards, James X. Zhan Director, Investment & Enterprise Team Leader, World Investment Report United Nations Conference on Trade & Development Palais des Nations, Geneva Tel: +41 22 9175797 www.unctad.org/diae http://www.worldinvestmentreport.org/