World Bank Group-OECD presentation on making investment climate reforms happen

1. FROM INVESTMENT POLICY DESIGN TO IMPLEMENTATION: MAKING INVESTMENT CLIMATE REFORMS HAPPEN COLLABORATION BETWEEN THE OECD AND WBG April 20, 2015

2. Outline I. OECD’s Investment Work II. WBG Trade and Competitiveness Investment Policy & Promotion Work III. OECD and WBG Collaboration 1

4. Improving the Investment Climate – OECD Investment Work Policy Framework for Investment Investment Policy Reviews Regional cooperation on investment reform • Southern African Development Community (SADC) • Association of Southeast Asian Nations (ASEAN) Sectoral work • Policy Guidance for Investment in Clean Energy Infrastructure • Private Participation on infrastructure investment 3

5. Horizontal issues Investment policy Investment promotion and facilitation Trade Competition Tax Corporate governance Policies for enabling responsible business conduct Developing human resources for investment Public governance Infrastructure investment Investment framework for green growth Financing investment A tool for investment climate reform taking into account different dimensions of development Social Environmental Economic The 2015 Policy Framework for Investment 4

6. Our Objective – A Sound Enabling Environment for Domestic and Foreign Investment Mitigating investor risk A sound enabling environment Integrated frameworks Participatory approaches for better policy coherence Full country- ownership Investment Policy Review: Recommendation 5

7. OECD Support to Investment Climate Reform Toward Implementation OECD assessment – Investment Policy Reviews • Peer learning (regional, across regions, OECD non-OECD) • Translation of recommendations into operation activities • Measuring and Monitoring: Development of indicators => Partnership with development partners to support and execute reforms 6

9. Investment Policy and Promotion (IPP): Three Key Ideas Investment policy is not about choosing between foreign and domestic investment It is about connecting them through global value chains. Trade and investment are two sides of the same coin. 1 Foreign investment is not a transaction; it is a relationship An investment policy strategy should not only pursue attraction, but also enable the establishment, retention and linkages with the domestic productive sector, thereby maximizing benefits from investment. 2 Not all types of investment are the same Different types of investment have different effects on socio-economic development and thus require different policies. Countries should align the type of investment with different policies 3 8

10. Investment Cycle Vision and Strategy Investment AttractionLinkages Investment Entry & Establishment Retaining Investment • Investment promotion • Locational incentives • Eliminating barriers to FDI • Streamlining entry procedures • Elimination of performance requirement • Opening FDI in services • Behavioral incentives • Non-equity modes of investment (NEM) • Upgrading investment protection guarantees • Mechanizing investment retention and confidence • Improving investment aftercare 9

11. Different Types of Investment Lead to Different Socio- Economic Impacts and Different Patterns of Trade… Natural resource- seeking Market- seeking Efficiency- seeking Strategic- asset seeking 9

12. Assistance Delivery Model Outcomes • Updating regulatory frameworks • Streamlining administrative and regulatory frameworks • Developing systems that foster transparency and predictability. • Incorporation of new technologies to improve government delivery of services Activities • Assisting governments in identifying and prioritizing investment policy and promotion measures • Concrete recommendations • Supervision/implement ation support Impacts • Increase in generation of domestic and foreign investment • Increase in investment retained • Cost savings for investors and host countries resulting from reforms • Greater regulatory transparency and strengthening of rule of law 10 Our mission is to catalyze investment climate reforms that foster business competitiveness, connect firms to global markets, maximize the benefits of private investment, and create jobs.

13. WBG Instruments of Support • Developing FDI strategy • Reducing investment restrictions, barriers and procedures • Investment promotion/facilitation • Improving effectiveness of investment incentives • Strengthening investor protection and aftercare to help retain and expand FDI • Maximizing linkages and positive spillovers to local economy • Promoting freer regional investment flows • Implementation of international agreements to improve investment climate Technical Assistance • Investment Reform Map: Providing a logical framework enabling clients to visualize the different types of FDI and setting priorities to design coherent and concrete investment policy and promotion reform agendas • Rapid IC Advisory: Supporting IC reforms leveraging benchmarks and indicators  Doing Business  FDI regulations  Investor motivation surveys  World Investment and Political Risk Indicators  Enterprise surveys Diagnostics • Mozambique Competitiveness and PSD Project ($25million):  Focusing on business environment/investment climate reforms, SME matching grant facility, training institutes capacity, etc.  IC TA program to government for the design and implementation of licensing reforms in key sectors (industry and commerce). • Ethiopia ($250million): Contributing to job creation by attracting investments and improving enterprise competitiveness in the target industrial zones and linked domestic enterprises. Lending (Development Policy Operations and Investment Lending) 11

14. Global Presence (in over 60 countries) Africa ECA MNA EAP SA LAC Current • Guinea • East Africa (multiple countries) • Ethiopia • Kenya • South Sudan • Regional Program for West Africa (multiple countries) • Equatorial Guinea • Armenia • Albania • Belarus • Bosnia and Herzegovina • Georgia • Kosovo • Kazakhstan • Kyrgyzstan • Tajikistan • Turkey • Turkmenistan • Egypt • Jordan • Kingdom of Saudi Arabia • Kuwait • Oman • Tunisia • Morocco • Cambodia • Mongolia • Myanmar • Pacific Islands • Bangladesh • Pakistan • Nepal • India • Bhutan • Dominican Republic • Mexico • Colombia • Bolivia • Brazil • El Salvador Pipeline • Croatia • Moldova • Western Balkans (multiple countries) • Romania • Egypt • Timor Leste • Laos • Iraq • Peru • Paraguay • Mexico • Colombia 12

16. OECD and World Bank Collaboration Interaction and information sharing on each other’s activities: • PFI taskforce: IPP team collaborates and contributes to the PFI update • WBG Investment Climate Advisory Group: OECD investment team invited to join Technical assistance to countries: Coordination between PFI and T&C IPP Reform Work in various countries: • ASEAN: Myanmar, Cambodia, Laos • MENA: Tunisia, Jordan and Egypt Thought leadership: Joint exploration and discussion of cutting-edge issues on investment climate-related issues Policy advocacy: Organization and participation in events to promote greater engagement with investment stakeholders 14

17. Examples: OECD - World Bank Group Cooperation in Myanmar • OECD introduces Myanmar investment climate counterparts to WBG • WBG participation in assessment, task force meetings • WBG participation in public launching of the IPR of Myanmar Myanmar IPR • WBG formulation of a technical assistance programme based on the IPR recommendations and previous cooperation Identification of areas of implementation • Roll-out of WBG and implemented country programme • OECD contributes to specific elements of the programme Program implementation Work starting in Lao PDR and Cambodia in 2015 15

18. Examples: OECD - World Bank Group Cooperation in Tunisia • The WBG had ongoing projects on investment climate: • Support on a new investment law according to good practices • Transparency and inventory of investment incentives • OECD also had capacity building initiatives in the country Engagement • Both institutions shared views/comments/upda tes on the process to modernize investment legal framework. • OECD & WBG joint work on institutional mapping and design of institutional coordination framework for investment policy and promotion Diagnostic • WBG: New investment law • OECD & WBG: Institutional coordination mechanism for IPP Program implementation 16

19. Looking Forward 17 Creating an international platform on Investment for Development • Post-2015 agenda – aid alone does not suffice Roundtable on implementing policy reform for investment • Convened by the WBG, the OECD, in conjunction with other international organizations (October 2015)

20. THANK YOU

World Bank Group-OECD presentation on making investment climate reforms happen

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World Bank Group-OECD presentation on making investment climate reforms happen

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