Investment Compact Strategy in 2002 Ministerial Declaration on Attracting Investment to South East E

1
Investment Compact Strategy in 2002Ministerial
Declaration on Attracting Investment to South
East EuropeCommon Principles and Best Practices

• Presentation by Rainer Geiger, Deputy Director
• Directorate for Financial, Fiscal and Enterprise
  Affairs, OECD and
• Co-chair of the Investment Compact
• Sofia, 20-21 June, 2002

2
South East Europe
3
Investment Compact

• Re-vitalisation of South East Europe must rely
  primarily on private sector development and
  private investment

4
Four Pillars of Investment Compact Strategy in
2002

• The Monitoring Process
• Implementation of Reform through selected
  Regional Flagship Initiatives
• Private Sector Involvement
• Political Support for IC Activity

5
The Monitoring Process

• Monitoring Instruments with key priorities
  specified
• Critical Timebound Targets
• Project Team Missions
• Special Country Reviews

6
Implementation of Reform through selected
Regional Flagship Initiatives

• Capacity building and emphasis on implementation
  by SEE countries
• Narrower approach in 2002
• Primary focus on investment promotion policies
  and strategies, double tax treaties, SME policy
  performance assessment, corporate governance,
  PPPs, improving regulatory management and reform

7
Private Sector

• Business Advisory Council to the Stability Pact
  (BAC)
• Business and Industry Advisory Committee to the
  OECD (BIAC)
• Foreign Investor Councils and Associations in the
  Region
• Wide consultation with private sector groups and
  individual companies

8
Political Support for the Investment Compact

• Partnership of all Stability Pact participants
• Coordination with EC, IFIs
• Publicity and communication
• Political endorsement within SEE countries
• Ministerial Declaration

9
Ministerial Declaration

• High level political declaration
• Signal to international community and investors
  by SEE governments
• Region needs to address urgently the gap in FDI
  levels with other regions
• Investors interested in regional markets and more
  harmonised environment and approach that
  facilitates investment

10
Key Elements of Declaration

• Builds on Investment Compact
• Key Principles and Best Practices are route to
  increased investment
• Implementation process
• Follow up at Ministerial level
• Next Steps Ministerial Conference in Vienna, 18
  July 2002 to consider