Investment policy

Freedom of investment at the OECD



31/05/2023 - Investment policy developments (Oct 2021-Mar 2023) EN | FR

10/11/2022 - Effectiveness and efficiency of the EU Framework for screening FDI into the Union

07/07/2022 - 27th OECD-UNCTAD report on G20 investment measures | All reports

10/12/2021 - Shareholder Claims for Reflective Loss in Investment State Dispute Settlement (informal discussion paper for joint informal UNCITRAL-OECD meeting) 

04/05/2021 - Working Paper on Business Responsibilities and Investment Treaties


International investment spurs prosperity and economic development in home and recipient countries. Policy coordination helps government resist protectionist pressures and develop effective policies that respond to concerns raised by international investment.
The Freedom of Investment process, an intergovernmental ‌forum hosted since 2006 by the OECD Investment Committee, brings together some 54 governments from around the world to exchange information and experiences on investment policies at regular roundtables (roundtable summary reports). Here, governments develop guidance for open, transparent and non-discriminatory investment policies. Unbiased policy monitoring and analysis support accountability and frank and open exchange.  Download an overview brochure | 普通话
Setting standards and developing guidelines

Co-operation requires common understanding of policy measures and objectives. The Freedom of Investment roundtables foster this understanding by developing standards that reflect partners’ expectations and good policy practices. These standards promote openness, transparency and non-discrimination and responsible conduct by both governments and investors.  


Investment policy monitoring

Informed dialogue on investment policy requires unbiased, comprehensive and reliable information. Independent policy monitoring by the OECD provides policymakers and investors with up-to-date information on the preparation or introduction of new policies in countries that take part in the process. 

Acknowledging the roundtables’ established investment policy monitoring, G20 Leaders gave OECD a mandate to track policy developments and to report, with WTO and UNCTAD, on observance of G20 commitments to openness.



Annual conference on investment treaties

02/07/2020 - Joint OECD and UNCITRAL Webinar on Shareholder Claims and Reflective Loss

16/03/2020 - Business Responsibilities and Investment Treaties

11/03/2019 - Conference on Investment treaties and level playing fields

12/03/2019 – Conference on acquisition- and ownership-related policies to safeguard essential security interests

Freedom of investment roundtables


Articles blogs and presentations

Claims for reflective loss under investment treaties | FR by David Gaukrodger, 2020

Is international investment threatening or under threat? by Joachim Pohl, 2019

Who chooses the judges (and should they)? by David Gaukrodger, 2018

Joint government interpretation of investment treaties by David Gaukrodger, 2016

Let’s get realistic about a multilateral investment agreement by Shaun Donnelly, 2016

Investment treaties: A renewed plea for multilateralism by Jan Wouters, 2015

The growing pains of investment treaties by Angel Gurría, 2014

Research and analysis

All OECD work on international investment law

Investment policies related to national security and public order

Effectiveness and efficiency of the EU Framework for screening FDI into the Union, 2022

International investment implications of Russia’s war against Ukraine, 2022

Shareholder Claims for Reflective Loss in Investment State Dispute Settlement (informal discussion paper for joint informal UNCITRAL-OECD meeting), 2021

Acquisition- and ownership-related policies to safeguard essential security interests - Current and emerging trends, observed designs, and policy practice in 62 economies, 2020

Consultation on appointing authorities and the selection of arbitrators in investor-state dispute settlement, 2018

Assessing the societal benefits and costs of International Investment Agreements, 2018 l Spanish | All working papers

Adjudicator compensation systems and investor-state dispute settlement, 2017

The balance between investor protection and the right to regulate in investment treaties: A scoping paper, 2017

Addressing the balance of interests in investment treaties: The limitation of fair and equitable treatment provisions to the minimum standard of treatment under customary international law, 2017

State-to-state dispute settlement and the interpretation of investment treaties,  2016

Investment policies related to national security, 2016

The impact of investment treaties on companies, shareholders and creditors, 2016

The legal framework applicable to joint interpretive agreements of investment treaties, 2016

Investment treaties over time: treaty practice and interpretation in a changing world, 2015

The policy landscape for international investment by government-controlled investors: a fact finding survey, 2015

Investment treaties and shareholder claims: analysis of treaty practice, 2014

Investment treaties and shareholder claims for reflective loss: insights from advanced systems of corporate law, 2014

Investment treaty law, sustainable development and responsible business conduct: a fact finding survey, 2014

Temporal validity of international investment agreements: a large sample survey of treaty provisions, 2013

Investment treaties as corporate law: Shareholder claims and issues of consistency, 2013

Investor-state dispute settlement: A scoping paper for the investment policy community, 2012 | Chinese

Dispute settlement provisions in international investment agreements: A large sample survey, 2012

Environmental concerns in international investment agreements: A survey, 2011

Identification of foreign investors: A fact finding survey of investment review procedures, 2010

Responsible investment in agriculture, 2010 

Foreign state immunity and foreign government controlled investors, 2010

Security-related terms in international investment law and in national security strategies, 2009

Foreign government-controlled investors and recipient country investment policies: a scoping paper, 2009 

Competition law and foreign-government controlled investors, 2009 

Accountability for security-related investment policies, 2008 

Protection of 'critical infrastructure' and role of investment policies relating to national security, 2008 

Transparency and predictability for investment policies addressing essential security interests: a survey of practices, 2008 

Proportionality of security-related investment instruments: A survey of practices, 2008 

Competition, international investment and energy security, 2008 

Economic and Other Impacts of Foreign Corporate Takeovers in OECD Countries, 2007 

Essential Security Interests under International Investment Law, 2007


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