___________________________________________________________________________
2012/SOM1/IEG/007
Agenda Item: 7 (a)
Investment Facilitation Action Plan (IFAP)
Purpose: Discussion
Submitted by: Australia
First Investment Experts’ Group Meeting
Moscow, Russia
11-12 February 2012
INVESTMENT FACILITATION ACTION PLAN (IFAP)
During the Investment Experts Group (IEG) meetings in 2011 there was ongoing discussion around
the IFAP agenda (ref: 2011/SOM2/IEG/010 and 2011/SOM3/IEG/010). These discussions
culminated in APEC Leaders endorsing some key decisions on progressing the IFAP at Honolulu in
November 2011.
The key elements of IEG’s IFAP endorsed by Leaders were:
•
Re-affirmation of APEC economies’ commitment to IFAP implementation beyond 2011;
•
Review of IFAP priority areas during IEG1 2012 in order to establish a focus for the following
two-year period, and to similar review every two years going forward;
•
Refocusing of IFAP activities towards those with strong analytical and empirical foundations,
and those that seek to incorporate hard lessons from previous APEC projects and that produce
concrete, tangible outcomes that can be widely distributed;
•
Providing annual updates on collective actions in pursuance of IFAP goals, including expected
timeframes for implementation;
•
Cataloguing basic factual information corresponding to quantitative indices of IFAP
implementation; and
•
Voluntary reporting of activities undertaken by member economies that respond to, or contribute
to, achievement of specific IFAP actions.
Actions to be undertaken at IEG 1 2012
•
Consideration by IEG in determining which of the remaining IFAP priority themes, based on the
IFAP Principles, should be addressed over the next 2 years in addition to ongoing efforts
around the first three themes addressed during 2008 – 2010.
•
Review of the arrangements around maintaining the IFAP.
In 2008 the IFAP was adopted by APEC Leaders. Since then, Australia has maintained a
supporting role as leader of a ‘Friends of the Chair Steering Group’ to maintain the IFAP. The
following economies have participated from time to time in this steering group: Australia, USA,
Japan, Korea, Singapore, Thailand, Brunei, Mexico, Chile and Peru. These arrangements
require reconsideration by IEG and involvement by other economies is strongly encouraged.
IFAP work agenda to date
IFAP’s initial phase of implementation was envisioned as spanning three years, from 2008 to 2010.
As part of this initial phase, the IFAP focussed on three priority themes based on the first three IFAP
principles (listed at Attachment A):
•
Promoting accessibility and transparency in the formulation and administration of investmentrelated policies;
•
Enhancing stability of investment environments, security of property and protection of
investments; and
•
Enhancing predictability and consistency in investment-related policies.
Further priority themes, from the remaining five IFAP principles, are yet to be addressed. These are:
•
Improving the efficiency and effectiveness of investment procedures;
•
Building constructive stakeholder relationships;
•
Utilising new technology to improve investment environments;
•
Establishing monitoring and review mechanisms for investment policies; and
•
Enhancing international cooperation.
Key to the IFAP and the progress of its underlying eight principles is a broad menu of actions,
designed to promote investment facilitation, which an economy can choose to implement (see
Attachment B). Implementation of any specific action is voluntary and flexible, reflecting the
differences between the APEC member economies, and complementing the consensus based nature
under which APEC operates.
As a focus for priority implementation in the first three years of the IFAP (2008-2010), the IEG
selected a sub-set of 15 actions from the broader IFAP list, which focused on the initial three priority
themes. Priority themes and action items were agreed by APEC ministers in 2008 (see Attachment
C).
In order to focus on these three priority themes and ensure progress was being made in implementing
them, the IEG examined its existing work program and achievements against the 15 priority action
items and identified capacity building and technical assistance gaps which were addressed in 2009 2010. Four projects were established to address these gaps:
•
•
•
•
a project to establish base line data for all 21 APEC economies using the World Bank’s
Investing Across Borders indicators;
projects to assist member economies establish and maintain effective formal mechanisms for
resolving disputes between investors and host authorities;
an Economic Committee project aimed at improving knowledge about best practice in public
consultation for the rulemaking process; and
a project to produce an e-portal for all investment rules and regulations.
These projects are now being implemented. The table at Attachment D tracks how APEC is
addressing the IFAP priority themes and actions and identifies additional capacity building gaps in
these priority themes and actions.
Determining IFAP implementation priorities
Given the breadth of recommended actions in the IFAP, the occasional review of priority areas can
serve as a useful tool for focusing APEC’s investment facilitation work. At the same time, it is
important that economies preserve flexibility of implementation, in order to keep pace with new policy
challenges, and ensure that APEC activities can remain responsive to evolving member-economy and
stakeholder priorities.
In this regard, it was agreed, at Honolulu in November 2011, that APEC economies should hold two
yearly discussions to review IFAP priority areas. It was also agreed that during such discussions, the
IEG would solicit member-economy and ABAC input.
Following on from priority theme identification, a suitable sub-set of actions from the broader IFAP list
(at Attachment B) could then be identified. This could be supplemented by an examination of IEG’s
existing work program and achievements against the identified priority action items, in order to identify
capacity building and technical assistance gaps.
Advancing these new themes would complement further actions within the existing three priority
themes.
Assuring more concrete IFAP outcomes
The first three years of IFAP implementation saw a number of investment facilitation activities,
including a range of different projects. Many of these projects took the form of workshops or
seminars. Though extremely valuable as forums for education and exchange of information,
seminars can often have a limited impact, benefiting only those officials who are able to attend, and
often lacking follow-up potential or sustainable benefits.
In order to increase the value of IFAP as a tool for capacity building and for making a lasting
contribution to improvement of investment climates, APEC economies agreed (at Honolulu in
November 2011) to the refocusing of IFAP activities towards activities with strong analytical and
empirical foundations (for example, case studies and expert reports) — activities that seek to
incorporate hard lessons from previous APEC projects; and activities that produce concrete, tangible
outcomes that can be widely distributed.
Future PSU involvement and reporting
A broadened focus of the IFAP agenda will be complemented by a mechanism for demonstrating
progress in implementing the overarching Bogor Goals. As agreed by leaders at Honolulu in
November 2011, the IEG will implement a three-part process for demonstrating IFAP progress which
involves: reporting of collective APEC actions, reporting of factual developments, and voluntary
reporting of individual actions.
Whilst the final content and form of such reporting has yet to be determined, there has been
agreement with the PSU that it will undertake this task.
Attachment A
IFAP PRINCIPLES
1.
2.
3.
4.
5.
6.
7.
8.
Promote accessibility and transparency in the formulation and administration of investmentrelated policies.
Enhance stability of investment environments, security of property and protection of
investments
Enhance predictability and consistency in investment-related policies
Improve the efficiency and effectiveness of investment procedures
Build constructive stakeholder relationships
Utilise new technology to improve investment environments
Establish monitoring and review mechanisms for investment policies
Enhance international cooperation
Attachment B
Investment facilitation – menu of actions and measures
1
Promote
accessibility and
transparency in the
formulation and
administration of
investment-related
policies
2
Enhance stability of
investment
environments,
security of property
and protection of
investments
▪
Publish laws, regulations, judicial decisions and
administrative rulings of general application, including
revisions and up-dates.
▪
Adopt centralised registry of laws and regulations and make
this available electronically.
▪
Establish a single window or special enquiry point for all
enquiries concerning investment policies and applications to
invest
▪
Make available all investment-related regulations in clear
simple language, preferably in languages commonly used by
business
▪
Following establishment of an Investment Promotion Agency
(IPA), or similar body, and make its existence widely known
▪
Make available to investors all rules and other information
relating to investment promotion and incentive schemes
▪
Allow investors to choose their form of establishment within
legislative and legal frameworks.
▪
Ensure transparency and clarity in investment-related laws
▪
Improve upon the APEC-wide website (e-portal) to replacing
the hard copy publication of the APEC Investment
Guidebook (IEG)
▪
Encourage on-line enquiries and on-line information on all
foreign investment issues
▪
Maintain a mechanism to provide timely and relevant advice
of changes in procedures, applicable standards, technical
regulations and conformance requirements
▪
To the extent possible, provide advance notice of proposed
changes to laws and regulations and provide an opportunity
for public comment
•
Explore the possibility of using the international benchmarks
on a voluntary basis as a reference point for peer dialogue
and measuring progress
•
Establish timely, secure and effective systems of ownership
registration and / or property use rights for land and other
forms of property
•
Create and maintain an effective register of public or state
owned property.
•
Ensure costs associated with land transactions are kept to a
minimum including by fostering competition.
•
Foster the dissemination of accurate market reputation
information including creditworthiness and reliability
•
Explore the possibility of using the World Bank Doing
Business indicator “Enforcing Contracts” as the basis for
peer dialogue and benchmarking and measuring progress
across APEC
•
Encourage or establish effective formal mechanisms for
resolving disputes between investors and host authorities
and for enforcing solutions, such as judicial, arbitral or
administrative tribunals or procedures
3
Enhance
predictability and
consistency in
investment-related
policies
4
Improve the
efficiency and
effectiveness of
investment
procedures
•
Encourage and facilitate the use of arbitration and other
means of alternative dispute resolution for the settlement of
international commercial disputes between private parties
•
Facilitate commercial dispute resolution for foreign investors
by providing reasonable cost complaint-handling facilities,
such as complaint service centres, and effective problemsolving mechanisms
•
Take steps to accede to an arbitral convention
•
Increase use of legislative simplification and restatement of
laws to enhance clarity and identify and eliminate
inconsistency.
•
Provide equal treatment for all investors in the operation
and application of domestic laws and principles on
investment
•
Reduce the scope for discriminatory bureaucratic discretion
in interpreting investment-related regulations
•
Maintain clear demarcation of agency responsibilities where
an economy has more than one agency screening or
authorising investment proposals or where an agency has
regulatory and commercial functions
•
Establish and disseminate widely clear definitions of criteria
for the assessment of investment proposals
•
Establish accessible and effective administrative decision
appeal mechanisms including where appropriate impartial
“fast-track” review procedures
•
Simplify and streamline application and, registration,
licensing and taxation procedures and establish a one-stop
authority, where appropriate, for the lodgement of papers
•
Simplify and reduce the number of forms relating to foreign
investment and encourage electronic lodgement
•
Shorten the processing time and procedures for investment
applications.
•
Promote use of “silence is consent” rules or no objections
within defined time limits to speed up processing times,
where appropriate
•
Ensure the issuing of licences, permits and concessions is
done at least cost to the investor
•
Simplify the process for connecting to essential services
infrastructure
•
Implement strategies to improve administrative performance
at lower levels of government.
▪
5
•
Build constructive
stakeholder
relationships
•
•
•
Facilitate availability of high standard business services
supporting investment
To the extent possible, establish a mechanism to provide
interested parties (including business community) with
opportunity to comment on proposed new laws, regulations
and policies or changes to existing ones prior to their
implementation
Continue to share APEC member economies’ experiences
of successful stakeholder consultative mechanisms
Promote the role of policy advocacy within IPAs as a means
of addressing the specific investment problems raised by
investors including those faced by SMEs
Continue to share APEC member economies’ experiences
•
•
•
of successful public private dialogue to take advantage of
the information on successes and problems encountered by
established investors
Promote backward investment linkages between
businesses, especially between foreign affiliates and local
enterprises including through the promotion of industry
clusters
Encourage high standards of corporate governance through
cooperation aimed at promoting international concepts and
principles for business conduct, such as APEC’s programs
on corporate governance and anti-corruption.
Examine and share APEC member economies’ experience
with responsible business conduct instruments
6
•
Utilise new
technology to
improve investment
environments
•
7
•
Conduct periodic reviews of investment procedures
ensuring they are simple, transparent and at lowest
possible cost
8
•
Enhance
international
cooperation
•
To the best extent possible, accede to, or observe,
multilateral and/or regional investment promotion and
facilitation conventions
Make use, where appropriate, of international and regional
initiatives aimed at building investment facilitation and
promotion expertise, such as those offered by the World
Bank, UNCTAD and OECD
Ensure measures exist to ensure effective compliance with
commitments under international investment agreements
Review existing international agreements and treaties to
ensure their provisions continue to create a more attractive
environment for investment.
•
Establish
monitoring and
review mechanisms
for investment
policies
•
•
Promote the introduction and use of new technologies
aimed at making the investment process simpler and faster
Maintain adequate and effective protection of technology
and related intellectual property rights
Where possible, give effect to international norms for
property protection
Attachment C
Priority IFAP Actions for 2008-2010
E-transparency





Reducing investor risk
through more certainty





Simplifying business
regulation including reducing
business costs





Publish laws, regulations, judicial decisions and administrative rulings
of general application, including revisions and up-dates.
Make available to investors all rules and other information relating to
investment promotion and incentive schemes.
Establish an APEC-wide website or e-portal to replace the hard copy
publication the APEC Investment Guidebook.
Simplify and reduce the number of forms relating to foreign
investment and encourage electronic lodgment.
Encourage on-line enquiries and on-line information on all foreign
investment issues.
Maintain a mechanism to provide timely and relevant advice of
changes in procedures, applicable standards, technical regulations
and conformance requirements.
Establish and maintain effective formal mechanisms for resolving
disputes between investors and host authorities and for enforcing
solutions, such as judicial, arbitral or administrative tribunals or
procedures.
Provide advance notice of proposed changes to laws and regulations
and provide an opportunity for public comment.
Establish and disseminate widely clear definitions of criteria for the
assessment of investment proposals.
Establish timely, secure and effective systems of ownership
registration and property use rights for land and other forms of
property.
Simplify and streamline application and, registration, licensing and
taxation procedures and establish a one-stop authority for the
lodgement of papers.
Shorten the processing time for applications.
Conduct periodic reviews of investment procedures ensuring they are
simple, transparent and at lowest possible cost.
Ensure the issuing of licences, permits and concessions is done at
least cost to the investor.
Simplify the process for connecting to essential services such as
telecommunications and utilities.
Attachment D
E-Transparency
Priority Actions
IF Goals/Objectives
Existing Capacity Building Actions/Achievements
Identified Capacity
Building Gaps
Publish laws, regulations,
judicial decisions and
administrative rulings of
general application,
including revisions and updates
Economic benefits of transparency
adequately recognised by economy
APEC’s Transparency Standards on Investment, IAP
Transparency reporting
Overly complex
regulatory structures
Clear, transparent and “readily
available” information from all
levels of government
Voluntary assessments against APEC-OECD Regulatory Reform
Checklist and other international transparency benchmarks and
standards.
Hard to understand legal
texts
Make available to investors
all rules and other
information relating to
investment promotion and
incentive schemes
Easy to understand information
Online business registration procedures in many economies –
some international best practice
High level of electronic
dissemination of information on
investment laws, regulations,
policies, promotions and incentives
Hard copy guide to APEC-wide investment laws, regulations and
policies produced every 3 years
Establish an APEC-wide
website or e-portal to
replace the hard copy
publication the APEC
Investment Guidebook
Simplify and reduce the
number of forms relating to
foreign investment and
encourage electronic
lodgement
Encourage on-line
enquiries and on-line
information on all foreign
investment issues
Minimum number of investment
approval procedures with easy to
use electronic lodgement and
processing
Specialised on-line enquiry and
feedback points
Defined roles, responsibilities and
accountabilities for institutions
responsible for the creation and
maintenance of registers and
websites holding information.
Transparency provisions increasing in intra-APEC investment
agreements or FTAs
Recent projects addressing these actions: EC/Tel WG joint
seminar on e-governance, Capacity Building for International
investment Agreements, Good Governance in Investment
Promotion, Capacity Building for Sharing Success Factors,
Seminar for Sharing Experience on Improving Investment Policy,
Joint APEC-BOI-FIAS Workshop on Improving Investment
Promotion Performance in Accessibility to Investors and
Information Provision, Core Elements Training.
Lack of electronic
certification and
publishing of documents
Lack of computerised,
central registry of laws
and regulations
Consolidated primary
and secondary laws and
regulations on the
Internet – no electronic
APEC Investment
Guidebook
No formal
benchmarks/performance
standards for IPAs and
special enquiry points to
measure progress
Lack of regular reviews
of transparency regime
against APEC and
international
benchmarks/checklists
Lack of technological,
financial and human
resources to increase
electronic lodgement
Reducing investor risk
Priority Actions
IF Goals/Objectives
Existing Capacity Building Actions/Achievements
Identified Capacity Building
Gaps
Maintain a mechanism to provide
timely and relevant advice of
changes in procedures,
applicable standards, technical
regulations and conformance
requirements
Create and maintain systems and
contact points for listing all
changes to procedures,
standards, regulations and other
requirements
APEC Transparency Standards on Investment
Additional explanation of the
benefits of procedural
transparency including successful
case studies and experiences
Establish and maintain effective
formal mechanisms for resolving
disputes between investors and
host authorities and for enforcing
solutions, such as judicial, arbitral
or administrative tribunals or
procedures
Provide advance notice of
proposed changes to laws and
regulations and provide an
opportunity for public comment
Establish and disseminate widely
clear definitions of criteria for the
assessment of investment
proposals
Establish timely, secure and
effective systems of ownership
registration and property use
rights for land and other forms of
property
Fair, systematic and effective
public consultation procedures on
all proposed new or amended
laws
Clear criteria and transparent
procedures for all administrative
decisions involving investments
(including licensing and
concessions) with decisions
based on these criteria
Secure property rights linking
effort and reward covering all
forms of property
Reliable land titling and property
registers or measures that
achieve the same effect
Effective enforcement of property
rights through well-functioning
courts
Reliable alternative mechanisms
for resolving private disputes
through arbitration, mediation or
conciliation
APEC-OECD Regulatory Reform Checklist selfassessment tool
EC Workshop on Improving Public Consultation in
the Rulemaking Process
EC Good Practice Guide on Regulatory Reform
SMEWG Capability-Building Seminars on Ease of
Doing Business: registering property (planned)
IEG Capacity Building Workshop on Ease of Doing
Business: Enforcing Contracts
APEC Chemicals Dialogue: Principles for Best
Practice Chemical Regulation
APEC Life Sciences Innovation Forum Enablers of
Investment Checklist
Other recent projects addressing these actions:
Capacity Building for international investment
Agreements, Capacity Building for Sharing Success
Factors, Seminar for Sharing Experience on
Improving Investment Policy, Joint APEC-BOI-FIAS
Workshop on Improving Investment Promotion
Performance in Accessibility to Investors and
Information Provision, Doing Business - Investment at
the Sub-National Level to Promote Economic
Integration
More work measuring and
quantifying the administrative
burden from unnecessary
investment regulation
Improving the consistency in
application of investment
approval procedures at and
between different levels of
government
Land registration and use rights –
importance of and best practices
in APEC economies
Alternative dispute resolution
mechanisms and achieving more
effective dispute settlement
mechanisms across the region.
Simplifying business regulation
Actions
Goals/Objectives
Existing Capacity Building
Actions/Achievements
Identified Capacity Building
Gaps
Simplify and streamline application
and, registration, licensing and
taxation procedures and establish a
one-stop authority for the lodgement
of papers
Simple, standardised, streamlined
online application and registration
process with no unnecessary
procedures for all business licenses
and tax procedures
EC: APEC-OECD Regulatory Reform Checklist
and Good Practice Guide on Regulatory Reform
Clear policy roles and
accountabilities between
different levels of government
Shorten the processing time for
applications
Expeditious processing of all new
business start-up applications based
on statutory low time limits
Conduct periodic reviews of
investment procedures ensuring they
are simple, transparent and at lowest
possible cost
Ensure the issuing of licences,
permits and concessions is done at
least cost to the investor
Simplify the process for connecting to
essential services such as
telecommunications and utilities
New and amended licences, permits
and concessions issued as quickly as
possible and at least cost to the
investor
Where appropriate, establish “onestop” lodgement and approval
authority
Periodic review of investment
approval procedures including
licenses, permits and concessions
and institutional arrangements
Minimal inspection processes and
simple integrated process for
connecting to utilities
Establish and maintain effective
consultation mechanisms with key
stakeholders regarding the business
impact of regulations
SMEWG Capability-Building Seminars on Ease
of Doing Business: Starting a Business and
Business Licensing
Role of systematic regulatory
impact assessments of new or
amended regulations
APEC Energy Trade and Investment Action Plan
APEC Chemicals Dialogue: Principles for Best
Practice Chemical Regulation
Increasing number of one stop shops in APEC
economies
Other recent projects addressing these actions:
Capacity Building for Sharing Success Factors,
Seminar for Sharing Experience on Improving
Investment Policy, Doing Business - Investment
at the Sub-National Level to Promote Economic
Integration, APEC-UNCTAD Joint Capacity
Building Project for Addressing Knowledge Gaps
in the Use of Foreign Direct Investment (Phase
1), Recent Trends on Investment Liberalization
and Facilitation in Transport and
Telecommunication Infrastructure
Strategies for improving basic
infrastructure and
infrastructure services
including increased
participation by private
investors and competition
Lack of financial and human
resources to implement
systematic regulatory reform
and competition policy
Further scope to improve the
transparency and consistency
of policy frameworks to
enhance business certainty
through capacity building/
sectoral initiatives
Attachment E
Investment facilitation –menu of actions and measures
IFAP Principle
1
Promote
accessibility and
transparency in the
formulation and
administration of
investment-related
policies
2
Actions actually taken by member economy during xxxxx
Examples of possible actions
▪
Publish laws, regulations, judicial decisions and administrative
rulings of general application, including revisions and up-dates.
▪
Adopt centralised registry of laws and regulations and make
this available electronically.
▪
Establish a single window or special enquiry point for all
enquiries concerning investment policies and applications to
invest
▪
Make available all investment-related regulations in clear
simple language, preferably in languages commonly used by
business
▪
Following establishment of an Investment Promotion Agency
(IPA), or similar body, and make its existence widely known
▪
Make available to investors all rules and other information
relating to investment promotion and incentive schemes
▪
Allow investors to choose their form of establishment within
legislative and legal frameworks.
▪
Ensure transparency and clarity in investment-related laws
▪
Improve upon the APEC-wide website (e-portal) to replacing
the hard copy publication of the APEC Investment Guidebook
(IEG)
▪
Encourage on-line enquiries and on-line information on all
foreign investment issues
▪
Maintain a mechanism to provide timely and relevant advice of
changes in procedures, applicable standards, technical
regulations and conformance requirements
▪
To the extent possible, provide advance notice of proposed
changes to laws and regulations and provide an opportunity for
public comment
•
Explore the possibility of using the international benchmarks
on a voluntary basis as a reference point for peer dialogue
and measuring progress
•
Establish timely, secure and effective systems of ownership
registration and / or property use rights for land and other
Enhance stability of
investment
environments,
security of property
and protection of
investments
forms of property
•
Create and maintain an effective register of public or state
owned property.
•
Ensure costs associated with land transactions are kept to a
minimum including by fostering competition.
•
Foster the dissemination of accurate market reputation
information including creditworthiness and reliability
•
Explore the possibility of using the World Bank Doing
Business indicator “Enforcing Contracts” as the basis for peer
dialogue and benchmarking and measuring progress across
APEC
•
Encourage or establish effective formal mechanisms for
resolving disputes between investors and host authorities and
for enforcing solutions, such as judicial, arbitral or
administrative tribunals or procedures
•
Encourage and facilitate the use of arbitration and other
means of alternative dispute resolution for the settlement of
international commercial disputes between private parties
•
Facilitate commercial dispute resolution for foreign investors
by providing reasonable cost complaint-handling facilities,
such as complaint service centres, and effective problemsolving mechanisms
•
Take steps to accede to an arbitral convention
3
Enhance
predictability and
consistency in
investment-related
policies
•
•
•
•
•
•
Increase use of legislative simplification and restatement of
laws to enhance clarity and identify and eliminate
inconsistency.
Provide equal treatment for all investors in the operation and
application of domestic laws and principles on investment
Reduce the scope for discriminatory bureaucratic discretion in
interpreting investment-related regulations
Maintain clear demarcation of agency responsibilities where
an economy has more than one agency screening or
authorising investment proposals or where an agency has
regulatory and commercial functions
Establish and disseminate widely clear definitions of criteria
for the assessment of investment proposals
Establish accessible and effective administrative decision
appeal mechanisms including where appropriate impartial
“fast-track” review procedures
Simplify and streamline application and, registration, licensing
and taxation procedures and establish a one-stop authority,
where appropriate, for the lodgement of papers
4
•
Improve the
efficiency and
effectiveness of
investment
procedures
•
Simplify and reduce the number of forms relating to foreign
investment and encourage electronic lodgement
•
Shorten the processing time and procedures for investment
applications.
•
Promote use of “silence is consent” rules or no objections
within defined time limits to speed up processing times, where
appropriate
•
Ensure the issuing of licences, permits and concessions is
done at least cost to the investor
•
Simplify the process for connecting to essential services
infrastructure
•
Implement strategies to improve administrative performance
at lower levels of government.
▪
5
•
Facilitate availability of high standard business services
supporting investment
To the extent possible, establish a mechanism to provide
interested parties (including business community) with
Build constructive
stakeholder
relationships
•
•
•
•
•
•
opportunity to comment on proposed new laws, regulations
and policies or changes to existing ones prior to their
implementation
Continue to share APEC member economies’ experiences of
successful stakeholder consultative mechanisms
Promote the role of policy advocacy within IPAs as a means
of addressing the specific investment problems raised by
investors including those faced by SMEs
Continue to share APEC member economies’ experiences of
successful public private dialogue to take advantage of the
information on successes and problems encountered by
established investors
Promote backward investment linkages between businesses,
especially between foreign affiliates and local enterprises
including through the promotion of industry clusters
Encourage high standards of corporate governance through
cooperation aimed at promoting international concepts and
principles for business conduct, such as APEC’s programs on
corporate governance and anti-corruption.
Examine and share APEC member economies’ experience
with responsible business conduct instruments
6
•
Utilise new
technology to
improve investment
environments
•
7
•
Conduct periodic reviews of investment procedures ensuring
they are simple, transparent and at lowest possible cost
•
To the best extent possible, accede to, or observe,
multilateral and/or regional investment promotion and
facilitation conventions
•
Promote the introduction and use of new technologies aimed
at making the investment process simpler and faster
Maintain adequate and effective protection of technology and
related intellectual property rights
Where possible, give effect to international norms for property
protection
Establish monitoring
and review
mechanisms for
investment policies
8
Enhance
international
cooperation
•
•
•
Make use, where appropriate, of international and regional
initiatives aimed at building investment facilitation and
promotion expertise, such as those offered by the World
Bank, UNCTAD and OECD
Ensure measures exist to ensure effective compliance with
commitments under international investment agreements
Review existing international agreements and treaties to
ensure their provisions continue to create a more attractive
environment for investment.