The report suggests that the COVID-19 pandemic set off a further crisis in early 2020 that is expected to be deeper and more consequential in many countries than the Global Financial Crisis of 2008/2009.
© Kittipong Jirasukhanont
The Joint UNCTAD-OECD Report on investment measures implemented by G20 members during the period from mid-October 2020 to mid-May 2021 has been released today.
The pandemic continues to leave a deep mark on individuals and societies. G20 Members try to contain the damages associated with the pandemic to their economies, not least by facilitating and remaining largely open to international investment.
G20 Members remain concerned about risks for their essential security interests that may occasionally arise with international investment. This concern continues to translate into investment policy adjustments that seek to manage this risk in several G20 Members. Comprehensive and detailed policies are now in place in ever more G20 Members. In designing and implementing these policies, it is all the more important that G20 Members respect international policy principles and guides.
International investment can also make an important contribution to attenuate the impact of the ongoing COVID-19 pandemic on economies. It will also be crucial to tackle the other concurrent crises that need urgent responses, in particular the climate and environmental crises, as well as continued and deepening poverty across and within societies. Governments need to create conducive conditions to international investment when promoting investment in resilience, implementing their stimulus packages and addressing the implementation challenges of recovery plans. The goal should be to ensure that recovery is sustainable, and that its benefits extend to all countries and all people.
Related publication: World Investment Report 2021: Investing in sustainable recovery