Foreword
Middle East and North Africa Investment Policy Perspectives (MENA IPP) highlights the considerable progress in investment policy reforms made by governments in the region over the past decade. This reform momentum needs to be sustained and deepened so that the benefits of investment can be shared with society at large, particularly given the global health and economic upheaval provoked by the Covid-19 pandemic. The publication takes stock of investment policy trends and reforms in Algeria, Egypt, Jordan, Lebanon, Libya, Morocco, the Palestinian Authority, and Tunisia, drawing out common challenges and offering suggestions for reform priorities. It considers several dimensions of the policy framework that affect the investment climate, and places strong emphasis on how investment can help governments to improve the lives of their citizens. The report serves as a point of reference for policymakers as they continue their work to attract investment that advances inclusive and sustainable development.
MENA IPP draws on analytical work, regional dialogues and capacity-building seminars conducted under the EU-OECD Programme on Promoting Investment in the Mediterranean. The Programme, which began in 2016, has benefited from the active engagement of MENA governments and public institutions, private sector organisations and civil society. The publication supports efforts to boost the quality and quantity of investment in areas governments in the region have identified as a priority, using OECD instruments for assessing the investment climate such as the Policy Framework for Investment, the Guidelines for Multinational Enterprises and the FDI Qualities Indicators. It also builds on the wider long-term partnership between the OECD and the MENA region within the MENA-OECD Competitiveness Programme, which has promoted policy dialogue and advice on investment since 2005.
MENA IPP is a joint product of the OECD Directorate for Financial and Enterprise Affairs (DAF) and the Global Relations Secretariat (GRS). It was prepared by a team led by Fares Al-Hussami and Sarah Marion Dayan of the Investment Division (DAF) and Marie-Estelle Rey of the Middle East and Africa Division (GRS), under the strategic guidance of Ana Novik, Head of the Investment Division, and Carlos Conde, Head of the Middle East and Africa Division. The drafting team included Hélène François of the Investment Division, Alin Horj, Jorge Galvez-Mendez, Mattia Tomay and Iris Monderer of the Middle East and North Africa Division, Coralie Martin and Nicolas Hachez of the Responsible Business Conduct Centre (DAF), Diane Pallez of the Anti-Corruption Division (DAF), Cushla Thompson of the Development Co-operation Directorate, and Emilio Chiofalo, an external consultant.
The report benefited from valuable comments from members of the OECD Investment Committee, participants at the Advisory Board of the EU-OECD Programme on Promoting Investment in the Mediterranean and participants in the MENA-OECD Investment and Trade Working Group. Alexander Böhmer, Head of South Asia and Southeast Asia Division (GRS), and Stephen Thomsen, Head of Investment and Sustainable Development Unit (DAF), provided valuable comments and suggestions as lead reviewers. Comments and inputs were also received from Alexandre de Crombrugghe, Emilie Kothe, Fernando Mistura, Baxter Roberts, and Martin Wermelinger of the Investment Division, Alessandra Celani of the Centre for Tax Policy and Tihana Bule, Benjamin Michel and Frédéric Wehrle of the Responsible Business Conduct Centre. Nadia Kameleddine and Kany Ondzotto provided administrative assistance. Edward Smiley prepared the report for publication.