The Policy Framework for Investment (PFI)


Text of the Policy Framework for Investment

The text of the Policy Framework for investment is available in several language versions

Chinese  |  English  |  French  |  Japanese (preamble and questions)  |  Polish  |  Spanish


About the Policy Framework for Investment

The Policy Framework for Investment (PFI) is the most comprehensive and systematic approach for improving investment conditions ever developed. Developed in 2006 by a task force representing some 60 economies, as well as business, labour, civil society and international organisations, the PFI raises issues for policy makers in ten policy areas including investment, competition, tax, corporate governance, anti-corruption, infrastructure, public governance and other policy domains which affect the business climate. These policy areas are widely recognised, including in the Monterrey Consensus, as underpinning a healthy environment for all investors, from small- and medium-sized firms to multinational enterprises.


The PFI is neither prescriptive nor binding. It emphasises the fundamental principles of rule of law, transparency, non-discrimination and the protection of property rights but leaves for the country concerned the choice of policies, based on its economic circumstances and institutional capabilities. It helps governments to design and implement policy reforms to create a truly attractive, robust and competitive environment for domestic and foreign investment.


Although addressed to governments, the PFI needs to be seen in the broader context of other converging international initiatives to improve the investment climate, including the OECD Guidelines for Multinational Enterprises.


Updating the PFI - In response to new forces reshaping the global investment landscape and the numerous lessons learnt through its use over the years, the PFI is currently being updated to reflect new global economic fundamentals and to incorporate feedback from the international investment policy community.

Who uses the PFI?

With its broad horizontal approach, the PFI assists governments engaged in domestic reform, regional co-operation or international policy dialogue on investment. It also serves as a reference point for investment promotion agencies, donors as they assist recipient country partners in improving the investment climate, and businesses, trade unions, and NGOs in their dialogue with governments.


In the context of OECD Investment Policy Reviews (IPRs), the PFI has been used by close to 30 countries at varying levels of development and across all continents, as a tool for assessing investment and business climates, and for designing reforms to improve them.


The PFI also provides a basis for support on regional investment policy dialogue. Established regional economic communities are currently using the PFI to promote peer learning on regional investment policy and policy harmonisation among their members. Examples include the NEPAD-OECD Africa Investment Initiative , the ASEAN-OECD Investment Programme. the Latin America and Caribbean Investment Initiative , the Investment Compact for Southeast Europe and the Middle East and North Africa investment programme.



Scheduled for completion in 2015, a multi-stakeholder update of the Policy Framework for Investment is currently underway.


PFI User's Toolkit

This Toolkit provides practical implementation guidance to help governments use the PFI.

Sectoral adaptations

The Policy Framework for Investment in Agriculture (PFIA)


Policy Guidance for Investment in Clean Energy Infrastructure


Documents and links

Policy Framework for Investment: A Review of Good Practices, OECD 2006 English | French


How the PFI was developed