Joint ACP-UNCTAD Guiding Principles for Investment Policymaking Approved
The Joint African, Caribbean and Pacific Group of States (ACP) - UNCTAD Guiding Principles for Investment Policymaking were approved by the ACP Committee of Ambassadors meeting in Brussels. These Principles were jointly developed by UNCTAD and the ACP Secretariat in the framework of the partnership between the two institutions and after consultation with ACP Members States and Regional Organizations. They draw on UNCTAD's Core Principles that form an integral part of UNCTAD’s Investment Policy Framework for Sustainable Development (2015 version) and reflect ACP countries' specificities and priorities for investment policymaking.
The Joint Guiding Principles come at a time of mounting economic, social and environmental challenges, which highlight the critical role of investment in achieving the Sustainable Development Goals (SDGs). They build on UNCTAD's Core Principles that have established themselves as a key reference point for national and international investment policy making across the globe, and on UNCTAD's technical assistance and capacity building activities to ACP countries. The principles also build on key ACP policy documents, notably the Georgetown Agreement establishing the African, Caribbean and Pacific Group of States, the Declaration of the 8th Summit of ACP Heads of State and Government of the ACP Group of States, the Strategic Framework for ACP Private Sector Development. The Principles are in support of existing ACP initiatives, such as the ACP Private Sector Development Strategy, the new approach to ACP Group support for the development of agriculture value chains, and the ACP Investment Facility.
The non-binding Guiding Principles provide guidance for investment policymaking with a view to:
- promoting inclusive economic growth and sustainable development;
- promoting coherence in national and international investment policymaking;
- fostering an open, transparent and conducive global policy environment for investment; and
- aligning investment promotion and facilitation policies with sustainable development goals.
They consist of the following eleven principles to provide guidance for ACP investment policymakers:
"0". Investment for sustainable development
1. Policy coherence
2. Public governance and institutions
3. Dynamic policymaking
4. Balanced rights and obligations
5. Right to regulate
6. Openness to investment
7. Investment protection and treatment
8. Investment promotion and facilitation
9. Corporate governance and responsibility
10. Regional and International cooperation