How can Parliamentarians contribute to a Positive Investment Climate? by Rainer Geiger

1. How can Parliamentarians contribute to a Positive Investment Climate? by Rainer Geiger Senior Regional Advisor, OECD 3rd Global Conference of Parliamentarians against Corruption Kuwait, 17-20 November 2008 The presentation reflects the personal views of the author

2. Summary • The role of investment as a factor of growth and development globally and within the MENA region • The Policy Framework for Investment and the MENA-OECD Investment Program • The Role of Integrity and Responsible Business Conduct • Strengthening the Role of Parliaments in Investment Policy Reforms and Private Sector Development

3. Recent trends and challenges in the MENA region • Increase in FDI and intraI-regional investment • Progress in the modernisation of legislation • Employment and economic diversification as key challenges • Boosting productive investment as a response to the financial crisis

4. An integrated policy approach to investment and private sector development • Ten key policy areas for enhancing the business climate • Multilateral and regional frameworks for investment • The MENA-OECD Investment Program

5. The role of transparency and responsible business conduct • The interaction between public and corporate governance • Responsible Business Conduct as a factor of competitiveness • The Anti-corruption and Transparency Network (ACTNET) for the MENA region 

6. A Business Climate Development Strategy for the MENA region • A key ingredient of the MENA-OECD Investment Program • Jointly developed by the OECD, the World Bank and partner countries • A tool for evaluation, priority setting, action and advice for implementation • A means for communication

7. The value of indicators • to perform a gap analysis • to evaluate the quality of reform programs • to serve as a tool for assessment and comparison • to form part of strategy design and action

8. Performance indicators for Anti-corruption and responsible business conduct • to measure Government and company performance • to highlight Government responsabilities in the areas of awareness raising, prevention and remedies • to develop yardsticks for company performance in transparency, accountability and risk management

9. The role of Parliaments in fostering Economic Development • Strategic debate • Legislation • Monitoring enforcement • Controls and investigations

10. Conditions for credibility and efficiency • Integrity and prevention of conflicts of interests • Restricting the cumulation of mandates • Adequate financial and human resources for Parliaments • Effective rules and procedures for parliamentary debates

11. Effective organisation of the legislative process • Forward planning • Regulatory impact analysis • Public hearings • Codes of conduct for lobbying activities • Procedures for commission and plenary debates

12. Providing a sound basis for parliamentary action • Adequate budgetary resources • Competent staff • Documentation and research facilities • Training programs 

13. Parliamentary controls on implementation • Monitoring of enforcement action •  Regular reports by implementing agencies • Budget and audit controls • Commissions of enquiry

14. International and regional co-operation • Regional workshops for parliamentarians on common issues of economic legislation and regulatory impact analysis • Twinning programmes and exchange of staff • A MENA Network of parliamentary commissions, e.g. on legislation, economy and finance? • Parliamentary initiatives against corruption and financial crime • Strengthening the action of GOPAC in the implementation of regional and international anti-corruption instruments.