UNCTAD's Investment Policy Reviews provide an objective evaluation of the country's legal, regulatory and institutional framework for FDI to attract increased foreign and direct investment, as well as how to maximize the benefits from it. The review includes FDI entry and establishment, treatment and protection of investment, taxation, the business environment and sectoral regulations. The strategic analysis is tailored to country needs. Recommendations are concrete and action-oriented.
The IPRs' approach and process promote ownership and learning from others:
It is initiated at the request of governments; the counterpart government ministry or agency is involved throughout the process; the counterpart ministry or agency takes ownership and is advocate of the policy recommendations; and national stakeholders participate in the workshop on the findings.
The IPRs offer a perspective of what leaders and pioneers do and what the private sector looks for. It also includes a global perspective of FDI performance and how countries measure up as well as their policy outlook. It provides for sharing experience and knowledge through success stories and failed experiences. This includes a peer review at UNCTAD, which follows a national stakeholders' workshop.
Adoption of recommendations
Most IPR countries have endorsed the recommendations of the IPR and many have followed up with requests for UNCTAD's technical assistance. The reforms carried are expected to improve both the climate for foreign investment and benefits to the recipient countries. The value of the IPRs to the countries is reflected in the follow up implementation of the recommendations both with UNCTAD's assistance and also at the governments' own initiative.
Examples of follow up assistance, which are described in more detail on each country page, include:
Advisory support on integrating FDI into a national development strategy.
Drafting/amendment of foreign investment law.
Sensitizing members of Parliament/Cabinet Ministers on investment issues.
Benchmarking on immigration and advice on best practice.
Coordination of policies on investment promotion and facilitation.
Comprehensive review of fiscal incentives regimes.
Training on BITs negotiations, investment promotion and investment targeting, clients' charter.
Blue Books containing measures to achieve best practices in investment promotion and facilitation, that can be implemented over a period of twelve months.