World Bank Guidelines on the Treatment of Foreign Direct Investment
World Bank Guidelines on the Treatment of Foreign Direct Investment: a set of voluntary principles adopted in September 1992 to address governmental treatment of good-faith foreign investors. The Guidelines do not deal with the conduct of foreign investors. The broad aim of the Guidelines is to encourage foreign investment because of its benefits in terms of improving the long-term efficiency of the host country through greater competition, transfer of capital, technology and managerial skills, enhancement of market access and expansion of international trade. Article I states that the Guidelines are based on the general premise that equal treatment of investors in similar circumstances and free competition among them are prerequisites of a positive investment environment, and that there is no suggestion that foreign investors should receive better treatment than national investors. Article II seeks an open environment for the admission of investment. Article III exhorts states to extend to investments by nationals of any other state fair and equitable treatment. Article IV deals with expropriation and unilateral alterations or terminations of contract. Article V seeks to promote the orderly settlement of disputes, either through national courts or through other agreed mechanisms. See also Multilateral Investment Guarantee Agency.
Source: http://ctrc.sice.oas.org/trc/WTO/Documents/Dictionary%20of%20trade%20%20policy%20terms.pdf
Web site to visit: http://ctrc.sice.oas.org
Author of the text: W. Goode
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