Since the return to democracy in 1999, Nigeria has embarked upon an ambitious reform programme towards greater economic openness and liberalisation. As a result, gross domestic product growth picked up consistently, never going below 5% since 2003. Nigeria has become a top recipient of foreign direct investment in Africa, with inflows having surpassed those to South Africa since 2009. The federal government’s Transformation Agenda recognises private sector development as the main engine for economic growth and includes bold investment reforms. Growth has however not yet been translated into inclusive development and the investment climate still suffers from severe challenges.
This Investment Policy Review examines Nigeria’s investment policies in light of the OECD Policy Framework for Investment (PFI), a tool to mobilise investment in support of economic growth and sustainable development. It provides an assessment and policy recommendations on different areas of the PFI: investment policy; investment promotion and facilitation; trade policy; infrastructure investment; competition; corporate governance and financial sector development. It also includes a special chapter analysing the PFI in Lagos State. The Review follows on the request addressed by the Minister of Industry, Trade and Investment of Nigeria to the OECD Secretary-General in December 2011. It has been prepared in close co-operation with the Federal Government of Nigeria and Lagos State Government.
Cette réunion a été l’occasion de dresser un état des lieux de la mise en œuvre du Guide OCDE sur le devoir de diligence, ainsi que du Mécanisme régional de certification de la CIRGL et d’autres initiatives visant à faciliter les chaînes d’approvisionnement responsables.
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This report responds to a request from the G20 that the IMF and OECD assess whether further work is needed on their respective approaches to measures which are both macro-prudential and capital flow measures, taking into account their individual mandates. The report was transmitted to G20 Finance Ministers and Central Bank Governors at their meeting on 16-17 April 2015 in Washington D.C.
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Global FDI flows picked up in the second half of 2014, increasing 17% in Q3 and 3% in Q4, representing an overall 9% increase in the second half of 2014 compared to a year earlier. The volume of flows in 2014 was USD 1.3 trillion, 2% lower than 2013, but this decrease was due to...
This public consultation is being held to gather comments on the draft OECD Due Diligence Guidance for Meaningful Stakeholder Engagement in the Extractives Sector which provides practical guidance to mining, oil and gas enterprises in addressing the challenges related to stakeholder engagement. The deadline for comment is 5 June 2015.
Two years ago today, the Rana Plaza building in Bangladesh’s capital Dhaka collapsed, killing over 1,100 people and injuring another 2,500. The dead and injured were garment workers. This blog post looks at due diligence in the apparel supply chain.
This article by Roel Nieuwenkamp talks about the trend of hardening of soft law in the domain of responsible business conduct. It argues that legislative proposals related to existing international instruments should not seek to reinvent the wheel, but to reinforce it. Existing instruments that are widely recognised and proven to be effective and reasonable should represent a foundation for their legally-binding counterparts.
This report provides recommendations on the design and implementation of a new investment promotion strategy for the Government of Chile. The work took place in a context of a series of investment policy related reforms in Chile, which finds itself needing a modern investment promotion strategy and instruments, particularly as its competitors for foreign direct investment are sharpening their investment promotion.
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Infrastructure investment in Indonesia was seriously impaired by the 1997 Asian financial crisis. Indonesia plans to increase investment sharply through both public spending and private finance. Yet, Indonesia lacks suitable long-term investment vehicles and capital markets are still developing.
International investment is one of the main drivers of globalisation so sound policies towards investment are vital for world prosperity and stability. The OECD works with regions and economies around the world to help improve the investment climate.