OECD Forum 2015: Investment
The Forum programme will explore the importance of investment in
- placing economies on sustainable growth paths
- addressing inequalities
- fostering innovation
- helping the transition towards low-carbon economies
- financing the Sustainable Development Goals (SDGs)
Investment is still lagging compared to pre-crisis levels, dampening demand and constraining potential growth. Breaking this vicious cycle is a priority to restore dynamism to economies and create jobs.
The urgency to create more and better jobs makes investment policy one of the most important tools to overcome the crisis, but also to build trust, confidence and more resilient economies, and inclusive societies. Governments have the opportunity and responsibility to build the foundations of a new era of inclusive and sustainable growth. In this context, the design and implementation of better policies to promote long-term investment stand out as one of the central issues in public policy.
Multinational corporations and institutional investors have the resources to invest, but lack incentives for long-term investment partly driven by a focus on short term political and economic cycles, and a lack of confidence in the future due to continuing low economic growth and growing geopolitical tension.
Moving from the current mind-set to a longer-term investment environment requires a transformational change in both government and investor behaviours. Promotion of a public-private dialogue ensuring a co-ordinated approach between investors, the financial industry and the public sector will be a key element in developing a new investment culture, allowing the current lack of investment to be addressed through a mix of policy measures.
Trade and investment are closely related. Trade is growing below normal trend. The OECD’s work on Global Value Chains (GVCs) (GVCs), Trade in Value Added (TiVA) and on the Services Restrictiveness Index (STRI) is supporting countries unlock the full growth-inducing potential of trade. In this context, reaching concrete agreements on the trade negotiations currently on the international agenda, such as TTIP (Transatlantic Trade and Investment Partnership) and TTP (Trans-Pacific Partnership), is a priority.
The Forum will also include a strong emphasis on trust and Responsible Business Conduct, including tax transparency, beneficial ownership, and responsibilities for social and environmental conditions in supply chains. Forum discussions on corporate governance and global supply chains will be informed by the application and practical experience gained through the use of the OECD Guidelines for Multinational Enterprises.