The Investment Policy Review Programme Chantal Dupasquier Chief, Investment Policy Reviews Division on Investment and Enterprise 31 May 2013

Overview Highlights of the IPR Programme The five phases of the IPR process Achievements and Impact Lessons Challenges and way forward

1. Highlight of the IPR Programme Driver of policy reform to stimulate investment attraction and increase benefits of FDI Flexible and responsive to country requirements, customized strategies and policy recommendations Concerted effort with other development partners to create synergies

2. The five phases of the IPR process Assessment and further actions Phase 1: Government official request Phase 4: Implementation and technical assistance Phase 3: Intergovernmental peer review and ownership Phase 2: IPR evaluation and advisory report

3. Achievements 35 IPRs completed worldwide, new ones in progress Wide range of countries covered, including LDCs and post-conflict countries Many countries benefited from follow-up technical assistance Stocktaking study published in 2012 Review the experience with IPRs since 1999 Wide range of topics and issues covered across the various reports Solid evidence of impact Key lessons learned

4. Impact Assessment of impact at three levels: Country’s commitment and endorsement of recommendations High-level government officials take active part in the process Effect on investment inflows Significant increases observed Improvement of the investment framework Several IPR countries moved up the Doing Business indicators (World Bank)

5. 10 key lessons Good investment framework, precondition for FDI attraction and private sector development Effective institutions and implementation of laws matter greatly FDI policies evolve FDI, significant role for development but not a panacea Local private sector, critical to improving the benefits of FDI Major significance of regionalization initiatives Infrastructure is a very important factor Human resources: long-term commitment and policy innovation IPAs are key institutions for FDI attraction and facilitation Core principles should guide fiscal regimes

7. The way forward UNCTAD will continue its work with member States to analyze their investment policy frameworks and propose concrete recommendations to improve them through the IPR programme The work is anchored on the UNCTAD’s Investment Policy Framework for Sustainable Development (IPFSD) Long-term support required for IPR countries to ensure implementation of recommendations and maximize the benefits for sustainable development

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