Report of the Investment, Enterprise and Development Commission on its first session

The Commission requests UNCTAD to take into account the different needs and circumstances of countries according to paragraph 10 of the Accra Accord when implementing these conclusions.

1. The Commission expresses its concern about the impact of the global economic crisis on foreign direct investment (FDI) flows. Their drastic decline threatens to erode development gains made thus far. The Commission encourages the secretariat to continue its analytical research on the impact of the economic crisis on FDI, especially in developing countries, and explore appropriate policy options to restore and improve conditions for FDI to contribute to growth and development. Particular attention should be given to the crisis’ impact on the level, structure and evolution of investment, and policy responses by home and host countries.
    
2. The Commission notes with appreciation the analysis contained in the World Investment Report 2008 and UNCTAD’s other investment-related analytical work. It looks forward to the World Investment Report 2009 on FDI in agriculture, an issue of vital importance to most developing countries. It requests UNCTAD to continue strengthening its analytical research on FDI and its development implications, including on, for example, regional integration, South–South investment, investment in green and renewable energies technologies, and FDI and workforce gender balance. The Commission encourages UNCTAD to further strengthen its research and analysis in the area of science, technology and innovation as per paragraph 158 of the Accra Accord, including within international investment agreements (IIAs).
    
3. With a view to supporting policymakers in designing and implementing investment policies that work for development based on sound analysis and reliable statistics, the Commission requests UNCTAD – taking into account the different needs and circumstances of countries according to paragraph 10 of the Accra Accord, in particular least developed countries (LDCs) – to assist in collecting quality data on FDI and transnational corporation activities, and building related institutional capacity. The Commission calls upon development partners to support UNCTAD’s technical cooperation in this field.
    
4. The Commission welcomes UNCTAD’s work on best practices in investment policies and calls for its continuation.
    
5. The Commission welcomes the recently reiterated commitments to refrain from raising barriers to – and to further promote – investment, and underscores the importance of fulfilling those commitments to mitigate the adverse impact of the global economic crisis. It also welcomes the call on international bodies to monitor and report on investment measures within their respective mandates, and encourages UNCTAD to collaborate with other relevant international organizations in this endeavour.
    
6. The Commission notes with appreciation the presentations of the Investment Policy Reviews (IPRs) for the Dominican Republic and Nigeria. IPRs are valuable tools to improve investment environments. The Commission emphasizes the importance of timely follow-up assistance in the implementation of the recommendations. Noting the pipeline of requests for IPRs and their follow-up, it invites development partners to enable UNCTAD to respond to these requests.
    
7. The Commission calls upon UNCTAD to continue its role as the United Nations focal point for all matters related to IIAs, through its research and policy analysis, technical assistance and capacity-building and intergovernmental deliberations.
    
8. The Commission expresses its appreciation for UNCTAD’s work in investment promotion and facilitation for development, especially its technical assistance programme in support of investment promotion agencies. It welcomes the cooperation with other organizations active in this area, in particular the World Association of Investment Promotion Agencies (WAIPA).
    
9. The Commission notes with satisfaction UNCTAD’s assistance to help countries, in accordance with paragraph 10 of the Accra Accord, boost administrative efficiency through e-government practices. It requests UNCTAD to extend its support to more countries, to reinforce its analytical work towards identifying relevant good practices and policies, and to facilitate sharing them amongst member states. It encourages donors to support UNCTAD’s assistance to countries for enhancing administrative efficiency.
    
10. The Commission highlights the significant contribution of UNCTAD’s Empretec work in entrepreneurship development in Africa and Latin America. It recognizes the contribution of UNCTAD’s Business Linkages programme in integrating small and medium-sized enterprises in global value chains, and its work on tourism. The Commission encourages UNCTAD to develop more such projects, especially in LDCs.
     
11. The Commission welcomes the work undertaken by the Intergovernmental Working Group of Experts on International Standards of Accounting and Reporting (ISAR), which is particularly important at the present time. It encourages donors to support capacity-building efforts in corporate transparency and accounting.
     
12. The Commission calls on UNCTAD to support the African Insurance Organization to strengthen the Africa insurance sector through advisory services and capacity-building.
     
13. The Commission expresses its appreciation for the secretariat’s efforts to implement the Accra Accord and to further strengthen synergies within the secretariat and among its three pillars of work.