Good Governance in Investment Promotion

Several least developed countries,63 with the support of donors, have also made sustained efforts to improve their investment and economic governance through the implementation of investment policy reviews, good governance in investment and least developed country investment guides executed by UNCTAD.

Report of the Expert Meeting on Good Governance and Investment Promotion

The Investment Policy Review of Benin was presented on 2 November 2004 at the Expert Meeting on Good Governance in Investment Promotion.

Irish Association of Investment Managers (1999). Corporate Governance, Share Options and Other Incentive Scheme Guidelines.

The various themes of the framework included trade policy, competition policy, investment policy, tax policy, corporate governance, public governance, infrastructure development and human resources development.

It recommends that the secretariat further strengthen its programme on Good Governance in Investment Promotion (GGIP) and extend its assistance to more interested developing countries, in particular LDCs, in implementing measures to improve good governance in investment promotion.

Several programmes are focused on LDCs, namely the Investment Guides for Least Developed Countries and Good Governance in Investment Promotion, which are reported on below, and the Investment Advisory Council (IAC).

From 1 to 3 November 2004, an Expert Meeting on Good Governance in Investment Promotion was held to identify policies and best practices that enhance good governance in investment promotion on the basis of national examples and experience gained through UNCTAD programmes.

Particular attention should be paid to land access, investment regulation, competition laws, infrastructure, the informal market and governance.

Report of the Expert Meeting on Good Governance in Investment Promotion (TD B COM.2 EM.15 3)

The successful scale up of investment strategies to achieve the Millennium Development Goals requires a commitment to good governance.

A report on the status of governance in investment promotion in Maldives was prepared and submitted to the Government.

Emphasis had been placed on the importance of good governance, sound domestic and investment policies and adequate physical infrastructure.

Experts underscored the significance of information technology for improving governance in investment promotion and the need to provide support to developing countries through programmes such as the UNCTAD Investment Gateway.

They explored ways of improving the climate for private investment by leveraging multilateral development banks and aid agencies to catalyse private investment, and bringing financial governance capacity building to scale.

In addition, speakers welcomed African commitments on governance, anti corruption measures and the creation of a good climate for investment.

Finally, it was underlined that good corporate governance and transparency improve investor confidence, reduce the cost of investment and help to develop capital markets by mobilizing both domestic and foreign investment.

Political instability and poor governance are major contributors to the poor climate for investment, as are corruption and law and order problems.

The Commission took note of the report of the Expert Meeting on Good Governance in Investment Promotion and the suggestions contained therein.

Developing countries and others are, however, not fully satisfied with the outcome in several areas, such as trade, investment flows and global governance.

The world's leaders embraced good governance, domestic ownership of development strategies, trade and private investment as key elements of economic growth and prosperity.

It was pointed out that least developed countries themselves needed to continue efforts towards creating a sound macroeconomic framework, including transparent and accountable governance, investment in basic social services and openness to trade and investment.

The international community should develop a costed, targeted and financed investment plan, and must revitalize commitment to improved governance and the rule of law.

The Review action plan recommended that action be taken to review and update the current investment legislation, to reform land access, to strengthen the local investment promotion agency, to promote good governance and to devise proactive policies dedicated to the promotion of national and regional investment opportunities.

UNCTAD's support to Ethiopia through the Good Governance in Investment Promotion (GGIP) programme was acknowledged, including the preparation of an Advisory Report on Good Governance in Investment Promotion in 2002 and a project proposal to implement the main recommendations of the report, which had secured donor support, with the starting date set for later in 2005.

It encourages Governments and the private sector to foster job creation in all sectors by expanding trade and investment on an environmentally sound basis, increasing investment in human resource development, and developing democratic institutions and good governance (para.

African Union leaders (AU), at their Summit meeting in Sirte, Libya, made strong commitments on governance and on creating an environment conducive to investment and development.

The Chairperson of the Expert Meeting on Good Governance in Investment Promotion reported on that meeting, which had taken place from 1 to 3 November 2004.

Other vital factors included sound economic policies, the rule of law, good governance, investment in human capital, open and competitive markets social justice and environmental protection.

Information and communication technology (ICT) can improve delivery of services, promote trade, business, governance, foreign investment, employment and rural development and ensure social inclusion of the poor.

Grundsatzkommission Corporate Governance (German Panel for Corporate Governance) (2000). Corporate Governance Rules for German Quoted Companies.

Many ESG factors come into play when evaluating sustainable investment options. For example, the Generation Foundation the think tank of Generation Investment Management (on whose advisory board I serve) identifies 17 environmental factors, 16 social factors, and 12 governance factors relevant to sustainability.

Savings must be channeled to firms that need capital for innovation and sustainable job creation. Today, however, the quality of corporate governance frameworks worldwide is challenged by the growing complexity of investment chains and the dominance of passive and short term investment strategies.

Two IPRs were prepared for Algeria and Benin, which were presented respectively during the eighth session of the Commission on Investment, Technology and Related Financial Issues, and the Expert Meeting on Good Governance and Investment Promotion held in Geneva (1 3 November 2004).

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Statement on Global Corporate Governance Principles. International Corporate Governance Network.

(g) It is important to have a function within the Investment Management Service that will play an independent liaison role in the Fund's governance structure in regard to compliance issues.

There was unanimous agreement that corruption often had devastating consequences for sustainable development and democratic governance, as well as for the free and fair flow of international trade and investment.

Bad governance