Sustainable Investment Policy Perspectives in the Economic Community of West African States (ECOWAS)
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The Economic Community of Western African States (ECOWAS) offers a large and diverse market of over 400 million people and natural resource wealth, and yet it is not currently living up to its potential as a destination for international investment. Inflows of foreign direct investment (FDI) in the region have been declining over time, and have not always delivered on promoting sustainable development. This report serves as a baseline diagnostic to explore ways to reinvigorate the reform of the ECOWAS investment climate while also improving sustainable outcomes from investment. It also highlights areas where further collaboration between ECOWAS and the OECD could contribute to improved investment climates throughout the region. Building upon the OECD Policy Framework for Investment and the FDI Qualities Policy Toolkit, the report covers the national regulatory framework encapsulated in national investment laws and how this compares with initiatives at a regional level, investment promotion and facilitation, investment incentives, investment for green growth and responsible business conduct.
Also available in: French
Executive summary
West Africa offers a large and diverse market of over 400 million people and natural resource wealth, yet it is not currently living up to its potential as a destination for international investment. Inflows of foreign direct investment (FDI) in the region have stagnated, in spite of some modest improvement in 2021. Furthermore, FDI in the region has not always fulfilled its promise in terms of promoting sustainable development. No single factor alone can explain this trend, but it strongly suggests that the region does not sufficiently provide a conducive environment for sustainable investment. Beyond political instability and strife, elements commonly cited within the region include fragmented regulatory frameworks, small market sizes, and insufficient infrastructure and skills.
Also available in: French
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