Action Plan for Improving Investment Frameworks in the Deauville Partnership Countries
Objective: to add to emergency measures currently implemented by the Deauville Partnership countries medium-term reform measures in order to retain and attract investors for growth and job creation.
On 7-8 May 2012 Reviving Investment in the Deauville Partnership Countries: Investment Policies for Job Creation was jointly organised by the OECD, UNPD, UfM and in the presence of the League of Arab States. Under the auspices of the Ministry of Foreign Affairs of the Arab Republic of Egypt, the Conference brought together 120 participants from the Deauville Partnership governments, the private sector and international organisations. As part of the event, an Action Plan for Improving Investment Frameworks in the Deauville Partnership Countries was submitted to the Presidency of the G8 who are managing the Deauville Partnership process in 2012.
The political and social events in the Deauville Partnership countries in 2011 have had a negative impact on investment flows as investors’ perception of the investment climate in these countries has been affected. In response, national investment promotion agencies and investment policy makers have already undertaken a series of measures to mitigate investors’ concern. However, medium to long-term reforms will be necessary in order to improve the openness, transparency and predictability of the investment frameworks in the five countries.
The Action Plan presented at the Conference details a number of proposed actions to be taken by the Deauville Partnership countries to further strengthen their investment climate, both generally and at the country-specific levels.
Suggested improvements include:
- reducing de jure and de facto restrictions, encouraging transparency and predictability
- assessing and improving the investment incentives regime, improving efficiency of investment promotion agencies and fostering responsible business conduct.
Country-specific proposed actions comprise:
- strengthening and/or revising the legal investment framework, improving the institutional framework and investment promotion targeting, and promoting business integrity.
- Adhering to and implementing the OECD Declaration on International Investment and Multinational Enterprises was also seen as an anchor for reforms.
- Regional economic integration, trade and investment frameworks, in particular the 1980 Arab League Investment Agreement, need to be renewed, strengthened and complemented with harmonised investment standards.
During the conference it was agreed that a series of targeted workshops based on the recommendations were to be organised in each of the Deauville Partnership countries to identify the best ways to implement the recommendations of the Action Plan.