The trend of investment flows into ASEAN increased over the past few years due to stronger global and regional performance. FDI inflows reached 60 billion USD in 2011 and steady improvements to the investment climates of ASEAN Member States are required to continuously attract investors into the region and to ensure that this investment contributes to sustainable development. Free flow of investment has been identified as a priority by the IAI Work Plan II (2009-2015), demanding for capacity building programmes to review, streamline and simplify procedures for investment applications and approvals.
Strengthening the capacity within the civil service in CLMV countries (Cambodia, Laos, Myanmar, and Viet Nam) to create, develop and implement sound investment policies was the aim of a three day seminar based on the Policy Framework for Investment in Da Nang. Investment policy, investment promotion and facilitation, responsible business conduct and investment in infrastructure were the modules the training focused on, across which issues of governance and green investment were addressed and discussed.
Within the scope of Responsible Business Conduct, ESRT Expert and Tourism Sector Specialist Mr. Kai Partale talked about “Promoting Responsible Investment in Tourism”. Why responsible tourism investment? Because it does not solely focus on financial return, but considers environmentally as well as socially impacts, which directly or indirectly influence return on investment. It is important to make tourism investors aware of benefits of considering and integrating environmental and social responsibility into investment decisions.
The current tourism investment market situation has been presented and which roles the public as well as the private sector takes over in terms of responsible tourism investment. Further, barriers to responsible investment have been portrayed and how to overcome these, exemplified by case studies utilising specific tools and activities which also highlighted the benefits of responsible tourism investment.
For further information on the OECD investment policy’s website, www.oecd.org/daf/inv/investment-policy/oecd-asean-clmv-training.htm