Corporate governance

Updating the Policy Framework for Investment (PFI)

 

   

The updated PFI will be launched in Paris on 3 June 2015 on the occasion of the OECD Ministerial Council Meeting.

The Policy Framework for Investment: What it is, why it exists, how it’s been used and what’s new
OECD Insights blog by Stephen Thomsen - 11 May 2015


‌About the ‌PFI update

The Policy Framework for Investment (PFI) is the most comprehensive and systematic approach for improving investment conditions ever developed. It helps governments and regions to design and implement policy reforms to create an attractive, robust and competitive environment for domestic and foreign investment.

 

‌Since the PFI was agreed in 2006, new forces have reshaped the global investment landscape, including the global economic and financial crisis, which started in 2008 and from which many economies have still not recovered, the emergence of new major outward investors within the G20, the spread of global value chains, and signs that pressures for investment protectionism are on the rise. Numerous lessons have also been learnt through the use of the PFI, particularly in developing and emerging economies. The PFI has been updated to reflect these new global economic fundamentals and will be released in Paris on 3 June 2015 at the OECD Ministerial Council Meeting.

 

The process

The update took place with the active participation of emerging and developing countries through an inclusive process led by an international task force co-chaired by an OECD and non-OECD country:

  • FINLAND - HE Okko-Pekka Salmimies, Ambassador to the OECD and UNESCO
  • MYANMAR - Mr Aung Naing Oo, Director General, Directorate for Investments and Company Administration, Ministry of National Planning and Economic Development

A series of online public consultations has been held to gather comments from interested stakeholders on the draft updated PFI:

Find out more about the update process in the PFI update concept note.

 

Contact

For further information please send an email to investment@oecd.org.

 

Documents and links

Concept note for updating the PFI

Text and background for the PFI

OECD Investment Policy Reviews

Fostering investment in infrastructure

SADC Regional Investment Policy Framework

OECD Guidelines for Multinational Enterprises


 

 

THE PFI IN ACTION

More than 25 countries have used the PFI when engaging in investment policy reviews. Their experiences have helped to shape the update and strengthen the PFI as a framework. Here are two examples about how countries are using the PFI:

Myanmar‌  Myanmar

Mauritius_small  Mauritius


TIMELINE FOR THE UPDATE

Mar 2014

1st Task Force meeting: agenda | presentations, Southeast Asia Regional Forum, Bali

Jun 2014

Responsible business conduct and the PFI update | list of participants at the Global Forum on Responsible Business Conduct

Jul 2014

2nd Task Force meeting: summary report | list of participants | presentations, Pretoria

Oct-Dec 2014

Discussion within relevant OECD committees and 1st online public consultation

Oct 2014

MENA Caucus of the PFI update Task Force, Paris

Nov 2014

‌Consultation on the update of the PFI during the Asia-Pacific Business Forum, Colombo

Dec 2014

Public consultation meeting on the draft chapters of the updated PFI

Jan/Feb 2015 

2nd online public consultation

Feb 2015

Public consultation meeting with the EU on the draft updated text, Brussels | Agenda

April 2015

Global Business Alliance for post-2015 meeting presenting the draft updated PFI in the context of improving the investment climate for sustainable development, New York | Agenda

Meeting of the PFI update Task Force at the World Bank-OECD meeting on making investment climate reforms happen, Washington | Agenda | Blog | Photos WB-OECD presentation

3 June 2015

Release of the updated text at the OECD Ministerial Council Meeting