In the wake of the collapse of the Rana Plaza garment factory in Bangladesh in 2013, initiatives to strengthen regulation of global supply chains in the textile and garment sector have multiplied. Tackling the issues involved requires sustained collaboration among industry, government, worker organisations and civil society. This project aims to promote such collaboration as well as the harmonisation of existing standards in the sector.
The OECD updated the OECD Principles of Corporate Governance to ensure their continuing high quality, relevance and usefulness, taking into account recent developments in the corporate sector and capital markets.
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The Japanese economy has for many years been characterised by a low corporate return on equity. Increasing returns requires better corporate governance that improves investment and the use of corporate resources, including cash holdings.
An updated version of the Policy Framework for Investment (PFI) was released in 2015. The update reflects new global economic fundamentals that have emerged over the last 10 years and takes into account the numerous lessons learnt through the use of the PFI, particularly in developing and emerging economies.
Reviews were launched in 2014 and are close to completion. The texts of the revised draft Principles and Guidelines are expected to be approved by the Corporate Governance Committee in May 2015.
Making investment and environment policy goals mutually supportive creates both challenges and opportunities for governments and other stakeholders. The OECD analyses key issues of the relationship between investment and environment to help policy makers address these challenges and opportunities.
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.
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.
This publication is a first response of the OECD to the issue of what role is, or can be, assigned to SOEs as part of national development strategies. The first part of the publication overviews the experiences of five countries (Brazil, China, India, Singapore and South Africa) with using SOEs, and other government-controlled entities as agents of their development strategies. The second part reviews the growing internationalisation of SOEs through foreign trade and investment. These show implications that the usefulness of SOEs in promoting economic development hinges on a number of factors, not least the level of economic development at the beginning of the process. Indeed, if the government’s ambition is to follow a development path already trod by numerous comparable nations it is relatively easy to hammer out a strategy and provide the SOEs with company-specific objectives toward the fulfilment of the strategy. However, experience also shows that some crucial conditions generally need to be met for such SOE-based strategies to be successful, taking into account the capacity of national bureaucracies and avoiding possible adverse impacts on international trade and investment.
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Poor corporate governance was identified as a major factor in Indonesia’s economic crisis in 1997. Since then a wide range of laws and regulations have been introduced and standards developed. Sound corporate governance will reassure stakeholders that their rights are protected, thus building confidence and trust in doing business in Indonesia.