Investment for development

First MENA-OECD Investment Steering Group Meeting


Amman, Jordan, 30 June-1 July 2004

The Amman meeting, building on the exploratory discussions  that took place in Istanbul on 11‑12 February 2004, aimed to move forward the Investment Action Programme, an integral part of the broader OECD-MENA Initiative for Investment and Governance, to mobilise investment, both foreign and domestic, as a driving force for growth, stability and prosperity throughout the MENA region.

Opened by Dr. Mohammed Halaiqah, Deputy Prime Minister, Minister of Industry and Trade, Jordan, and Mr. Richard Hecklinger, Deputy Secretary-General, OECD,  the main objectives for this inaugural meeting were to:

  • Formally establish the Group, finalise its terms of reference and select the co-chairmen of the Steering Group on the basis of nominations from OECD and MENA governments;
  • Shape the substantial issues at each of its thematic working groups within the proposed priority policy areas that emerged from the Istanbul discussions;
  • Identify the MENA countries that are interested in leading the work and the partnering OECD countries on each individual action project;
  • Discuss the locations and sequencing for the issue-specific working groups to come over the next three years; and
  • Consider funding, implementation and future steps.

Key Components of the Investment Action Programme

The Istanbul exploratory meeting identified five mutually reinforcing areas for a co-operative investment-related programme with the OECD in partnership with key national, regional and multilateral actors. For each policy area, a thematic Working Group will be established including:

  1. Transparent and open investment policies.
  2. Encouraging Investment Promotion Agencies to act as driving forces for reform (in partnership with World Bank/FIAS, Arab Association of Investment Promotion Agencies, World Association of Investment Promotion Agencies and UNIDO).
  3. Providing a Tax Framework for Investment.
  4. Investment strategies in support of diversification (in partnership with World Bank, International Energy Agency, UNDP and UNIDO).
  5. Improving corporate governance practices (in partnership with The World Bank Group and the Center for International Private Enterprise).

Steering Group members will include senior investment officials in charge of policy issues designated by their governments in the MENA region, key representatives of the OECD Investment Committee, private sector representatives from both OECD and MENA countries, regional partner organisations, the World Bank Group, the UNDP, and the UNIDO. 


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