SOURCE: USCIB

USCIB

April 21, 2012 09:30 ET

New ICC Foreign Investment Guidelines Released

NEW YORK, NY--(Marketwire - Apr 21, 2012) - The International Chamber of Commerce (ICC) has issued updated Guidelines for International Investment to address new challenges of the international investment environment and to further promote investment as a driver of economic growth, according to ICC's U.S. affiliate, the United States Council for International Business (USCIB).

These revised guidelines -- addressed to members of the global business community, government officials and other stakeholders -- were launched today at the World Investment Forum, organized by the UN Conference on Trade and Development in Doha, Qatar.

While the value of cross-border direct investment has grown substantially in the past decade, international investors have reason to be concerned about the impact of recent developments and policies on the free flow of international investment.

"Investment underpins economic growth and has shared value for companies and governments alike," said Peter Brabeck-Letmathe, chairman of Nestle. "It allows companies to establish themselves in global markets and creates ties between domestic and foreign companies, allowing them to expand their activities and create new jobs."

The aim of the ICC guidelines is to facilitate cross-border investment for investors and governments, as well as to harness the vast potential of cross-border investment for stimulating balanced global growth. Trade and investment have the potential to reinvigorate the global economy during the present economic crisis, particularly by driving sustainable growth in developing countries.

"The nature of investment has evolved geographically, with developing economies accounting for more investment inflows and outflows," said James Bacchus, co-chair of Greenberg Traurig's global practice group, who chaired the drafting group for the revised ICC guidelines.

The revision comes on the heels of last week's joint statement by the U.S. and the European Union on shared principles for international investment, which USCIB applauded as "a high-level, concise endorsement of the key role of international investment in the global economy."

USCIB promotes open markets, competitiveness and innovation, sustainable development and corporate responsibility, supported by international engagement and prudent regulation. Its members include top U.S.-based global companies and professional services firms from every sector of our economy, with operations in every region of the world. With a unique global network encompassing leading international business organizations, including ICC, USCIB provides business views to policy makers and regulatory authorities worldwide, and works to facilitate international trade and investment. More at www.uscib.org.

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