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APEC Investment Reform

APEC Investment Reform. Paul Kennelly APEC’s Investment Experts Group (IEG). APEC Energy and Investment Roundtable 30 September – 2 October 2008, Cairns. 1. Introduction. Market Characteristics. Demand & Supply: ‘The China Syndrome’ Global Growth Volatility:

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APEC Investment Reform

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  1. APEC Investment Reform Paul Kennelly APEC’s Investment Experts Group (IEG) APEC Energy and Investment Roundtable 30 September – 2 October 2008, Cairns

  2. 1. Introduction

  3. Market Characteristics Demand & Supply: • ‘The China Syndrome’ • Global Growth Volatility: • Extreme events (weather, stock market, geopolitical tensions, etc.)

  4. The Prime Reform Challenge –Policy Certainty • Transparency → Predictability

  5. APEC’s Reform Frameworks Trade Facilitation Action Plan (TFAP): • Significance for IFAP as a successful model Investment Facilitation Action Plan (IFAP): • More later . . . Leaders Agreement on Implementing Structural Reform (LAISR): • More later . . .

  6. 2. Behind-the-border Barriers

  7. Nature & Implications Nature of behind-the-border barriers Implications of such barriers

  8. 3. APEC’s Investment Facilitation Action Plan (IFAP) and the LAISR

  9. IFAP, 2008-10 • Raison d’être • Definition of ‘investment facilitation’ • Methodologies for measuring reform progress • Capacity Building

  10. LAISR, 2008-? • Objective • Definition of ‘investment facilitation’ • Methodologies • Capacity Building

  11. 4. Reform Ingredientsto make Action Plans work

  12. Maximising reformist sentiment

  13. Ownership (Policy Desirability) 1. Identify / develop ‘reform champions’.

  14. Ownership (Policy Desirability) 2. External drivers of reform are less-than-ideal as they tend not to ‘stick’. 3. Reform must be pursued from within (government, business, individuals). 4. Expert external assistance can prove crucial.

  15. Self-assessment Local experts: • Know their economy • Contribute to a sense of ownership • Essential for long-term success • “Give a man a fish, and he eats for a day. Teach a man to fish and he has food for life.”

  16. Identification of priorities Identify policies likely to deliver greatest benefit & least cost/market distortions: Map the economic impacts of barriers; and Prioritise for the short-term and long-term Expand the ‘sweet spot’, i.e. have: • policy desirability, • political feasibility, and • administrative feasibility Complement relevant work in progress

  17. Coordination By working together, agencies: • Increase ownership • Maximise efficiency and effects • Bring a ‘whole of government’ perspective  and the result is a quality outcome

  18. Thank you

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