BASIC PRINCIPALS
A large number of least developed countries (LDCs) have taken active steps to improve their investment environments. In many cases regulations have been streamlined and incentives provided, including with respect to taxation, land ownership, hiring of foreign personnel, remittance of dividends and earnings, among others. At the same time, many LDCs have made efforts to stabilize their economic environments and have benefited from preferential access schemes to developed and developing country markets. However, despite these reforms, LDCs still suffer from an image problem that results in many investors being unaware of these improved conditions and consequent investment opportunities available.
With quality FDI, countries are able to attract much-needed capital, technology, management techniques, knowledge of foreign markets and new organizational systems, and add vigour to the domestic private sector, stimulate local suppliers and facilitate economic diversification -- all these contributing to the achievement of some of the Millennium Development Gains, including poverty reduction and global partnership for development.
Functional description
The UNCTAD-ICC Investment Guides, which are prepared in collaboration with governments, national chambers and investors aim to:
- Provide investors with hard-to-find accurate and up-to-date information on key emerging investment opportunities and operating and regulatory conditions in participating countries;
- Ensure a reliable and effective source of third-party information for investors looking to invest in least developed countries (LDCs), which are rarely covered by commercial publishers;
- Address LDCs' image problem; and
- Build the capacities of LDC governments to promote investment opportunities and understand investors' needs;
Implementation process
Following a written request from the beneficiary country and the identification of appropriate funds, the project is implemented in five stages:- Desk research on the opportunities and conditions in the country in question.
- Fact-finding mission by an UNCTAD in the country where a large number of interviews with the public and private sector are conducted to ascertain the information, data and impressions on operating conditions and opportunities, necessary to the guide. Based on the mission, a draft guide is prepared.
- Circulation of the draft guide to key key public and private stakeholders to obtain final comments.
- Finalization of the guide. This includes editing, formating and printing.
- Launch of the guide at a regional commercial or financial centre in order to reach directly to the most relevant investor community.
