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Investment Policy for Attracting and Retaining Sustainable Investments

Investment Policy for Attracting and Retaining Sustainable Investments. Workshop Panel 1 F. Mithat Kulur Investment and Technology Unit, UNIDO. Objectives of policy. Role of policy Improve investment environment and governance Overcome market and government failures

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Investment Policy for Attracting and Retaining Sustainable Investments

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  1. Investment Policy for Attracting and Retaining Sustainable Investments Workshop Panel 1 F. Mithat Kulur Investment and Technology Unit, UNIDO

  2. Objectives of policy • Role of policy • Improve investment environment and governance • Overcome market and government failures • Absorb potential benefits of FDI • Promoting FDI for development (keep focused) • Culture of investment promotion (priorities) • Quality of FDI • FDI impact on competitiveness of domestic industry • Policies to stimulate and foster this impact

  3. Importance of dialogue and advocacy • Empowerment of private sector to drive policy • Overcome fragmentation of institutions • Feedback loop (study impact of policy on decision makers to fine tune) • Importance of a listening government

  4. Analysis for targeted policy • Identify FDI characteristics that yield desired impact • Characteristics: motivation, sector, origin, size, level of globalization, autonomy of local subsidiary, technology, etc. • Impact: increased productivity of local firms, stimulation of domestic investment, enhanced incomes and distribution; increased trade and international linkages • Target investors with identified characteristics • Streamline service and incentive offerings accordingly

  5. Investment as part of development policy • Influence ability of local firms to absorb potential impact of FDI • Facilitate interactions between foreign and domestic firms • Develop local skills for absorbing new technologies and methods and exploiting increased opportunities for market access • Facilitate access to capital • Investment Promotion mainstreamed into development policy and SME support

  6. Policy tools - Example • Survey in 19 countries • On-line Monitoring Platform • Domestic investment promotion • Some preliminary findings • Significant negative externalities (e.g. vertical spillovers in wages, output and employment are negative) • Horizontal externalities in medium tech sectors positive • Big differences between North and South FDI in terms of externalities • Positive vertical spillovers in TFP for some sectors

  7. Thank you m.kulur@unido.org

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