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/
