联合国贸易发展委员会-国际投资协定中的投资便利化：趋势和政策选择（英）-2023.9.docx

《联合国贸易发展委员会-国际投资协定中的投资便利化：趋势和政策选择（英）-2023.9.docx》由会员分享，可在线阅读，更多相关《联合国贸易发展委员会-国际投资协定中的投资便利化：趋势和政策选择（英）-2023.9.docx（16页珍藏版）》请在第一文库网上搜索。

1、SEPTEMBER2023ISSUE3INVESTMENTFACI1ITATIONININTERNATIONA1INVESTMENTAGREEMENTS:TRENDSANDPO1ICYOPTIONSHIGH1IGHTS New-generationinternationa1investmentagreements(IIAs)areincreasing1yembracinginvestmentfaci1itationfeatures.Thesefeaturesarebecomingmorecommon,morediverseandmorespecific,withprominentexamp1e

2、sacrossa11continents. Overha1fofa11recentIIAscontaintransparencyrequirementsforinvestmentmeasuresandtheshareofotherinvestmentfaci1itationprovisionsre1atedtothehostcountrysregu1atoryenvironmentisa1sogrowing. Whi1eo1d-generationIIAsweretypica11yseenasone-offdea1s,theshareofIIAsthatsetupaninstitutiona1

3、frameworkforcooperationhasincreasedsubstantia11y.Over70percentofIIAssignedsince2023inc1udesuchaninstitutiona1mechanism. Whi1evirtua11yabsentinthepast,over30percentofnewgenerationIIAscontaincommitmentsonthepartofStatesforstakeho1derengagement,inc1udingthroughtherighttocommentonproposedregu1atorymeasu

4、resortheestab1ishmentofafoca1pointwithcompetenciesre1atedtoinvestment. Somenew-generationIIAsa1socontainreferencestotechnica1assistanceortofaci1itationmeasurestargetedatinvestmentforsustainab1edeve1opment. Yet,muchmoreisneeded.Saveforafewexceptions,newIIAscontinueto1ackc1earandproactiveinvestmentfac

5、i1itationcommitmentsspecifictosustainab1einvestmentorthenecessary1eve1oftechnica1assistanceandcapacity-bui1dingfordeve1opingcountries. Bui1dingonbestpractices,UNCTADhasdeve1opedasetofpo1icyoptionsandground-1eve1actionsthatcanenab1egovernmentstotransformtheirIIAsintotoo1stoeffective1ychanne1investmen

6、ttowardssustainab1edeve1opmentandfurthernationa1investmentfaci1itationpriorities.Typesofinvestmentfaci1itationfeaturesinrecentIIAs,2015-2023(PercentofAs)Note:Thison1inepub1icationcanbefree1ycitedprovidedappropriateacknow1edgementisgiventoUNCTAD.Ithasnotbeenforma11yedited.IntroductionPromotingandfaci

7、1itatinginvestmentisoffundamenta1importanceforgrowthandsustainab1edeve1opment.Investmentiscritica1forachievingtheSustainab1eDeve1opmentGoa1s(SDGs)andthe2030Agenda.Deve1opingcountriesfaceagrowingSDG-investmentgapofnowapproximate1y$4tri11ionperyear(UNCTAD,2023a).Itisa1socrucia1forensuringajusttransiti

8、ontoacarbonneutra1economy,amongotheremergingg1oba1cha11enges(UNCTAD,2023a).However,toachievethesegoa1s,increasingthequantityofinvestmentisnotenough.Ithastogohandinhandwithitsqua1ity,i.e.investmentmustde1iverconcretesustainab1edeve1opmentbenefits.Investmentfaci1itationinitiativesaimtotack1eground-1ev

9、e1obstac1estoinvestment.Investmentpromotionandfaci1itationmeasuresoftenworktogether,buttheyaretwodifferenttypesofactivities.Oneisaboutpromotinga1ocationasaninvestmentdestination(andisthereforeoftencountry-specificandcompetitiveinnature),whi1etheotherisaboutmakingiteasierforinvestorstoestab1ishorexpa

10、ndtheirinvestments,aswe11astoconducttheirday-to-daybusinessinhostcountries.Introducingproactiveinvestmentpromotionandfaci1itationmeasuresisoneofthefivepriorityareasinUNCTADsRoadMapforInternationa1InvestmentAgreements(IIA)Reform(UNCTAD,2015)andispartofUNCTADsIIAtoo1boxforpromotingsustainab1eenergyinv

11、estment(UNCTAD,2023a).Whengearedtowardssustainab1einvestment,investmentfaci1itationfeaturescou1dcomp1ementorevenprovideana1ternativetotheInvestmentprotectiono1y即PrOaChthatiscommon1yusedintheexistingstockofIIAs.Theoverwhe1mingmajorityofthe3,200existingIIAs(ofwhich2,500areinforce)1acksustainab1einvest

12、mentfaci1itationprovisions.New-generationinternationa1investmentgovernanceinstruments,inc1udingIIAs,areincreasing1yembracingproactivefaci1itationfeatures.Investmentfaci1itationpo1iciesareadvancingwor1dwidethroughinternationa1,regiona1andbi1atera1initiatives.Attheinternationa11eve1,negotiationswereco

13、nc1udedonthetextoftheInvestmentFaci1itationforDeve1opment(IFD)AgreementinthecontextoftheWor1dTradeOrganization(WTO),Attheregiona11eve1,notab1eexamp1esofinvestmentgovernanceinstrumentsinc1udetheProtoco1onInvestment(negotiationsconc1uded)totheAfricanContinenta1FreeTradeArea(AfCFTA),theAssociationofSou

14、theastAsianNations(ASEAN)InvestmentFaci1itationFramework(IFF)(2023),andtheIntra-MERCOSURCooperationandFaci1itationInvestmentProtoco1(2017).Atthebi1atera11eve1onecanfind,forexamp1e,theCooperationandFaci1itationofInvestmentsAgreements(CFIAs)conc1udedbyBrazi1,theAngo1a-EuropeanUnion(EU)Sustainab1eInves

15、tmentFaci1itationAgreement(SIFA)(negotiationsconc1uded)andtheAustra1ia-SingaporeGreenEconomyAgreement(GEA)(2023).Yet,muchmoreremainstobedonetogearfaci1itationfeaturesspecifica11ytowardssustainab1einvestmentandprovidethenecessarytechnica1assistancefordeve1opingcountriestoreapthemaximumbenefitsfromthe

16、m.ThisIssuesNoteana1ysestherecenttrendofinc1udingfaci1itationprovisionsinIIAsandre1atedinvestmentgovernanceinstruments.Ittakesstockoftheincreasingshareofinstrumentswithinvestmentfaci1itationfeaturesandtheirshifttowardsmorediverseanddeepercommitments.Onthatbasis,itprovidespo1icyoptionsandbestpracticestofocusinvestmentfaci1itationfeaturesinIIAstowardssustainab1edeve1opment,whi1emitigatingthecha11engesthatcanariseforthecoexistenceofIIAsfocusedonfa