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Institutions for Investment: Establishing a High-Performing Institutional Framework for Foreign Direct Investment
(Washington, DC: World Bank, 2019-12-31) Heilbron, Armando; Whyte, Robert
A well-functioning institutional framework can result in higher levels of foreign direct investment. It requires several factors such as a shared strategic vision, solid institutions capable of delivering on their specific mandates and collaborating beyond their walls, and a strong political and financial support for all. The note describes key government functions for investment, suggests a process and principles for creating optimal institutional structures to deliver them, and provides examples. In particular, it examines the role of investment promotion agencies (IPAs) the agency usually tasked with operationalizing government FDI goals as well as the dilemmas that governments face in the context of institutional specialization versus function consolidation.
How Countries Can Fully Implement the New York Convention: A Critical Tool for Enforcement of International Arbitration Decisions
(World Bank, Washington, DC, 2019-12-30) Forneris, Xavier; Mocheva, Nina
The year 2018 marked the 60th anniversary of the New York Convention on the Recognition and Enforcement of Foreign Arbitral Awards, the most important international convention in the area of international commercial arbitration. The Convention is also said to be the most successful international treaty in the area of private international law. This note primarily targets policy makers and their legal advisors in countries looking at ways to improve their business environment, to become more attractive locations for trade and investment, through better dispute resolution options for international transactions. First, the note explains that international commercial arbitration, as part of countries' legally recognized dispute resolution options, is critical to cross-border contract enforcement. As countries strengthen their international arbitration regimes, they improve their competitiveness in international markets and increase investment and trade by reducing transaction risks and the cost of new infrastructure projects. Countries can improve their international commercial arbitration systems by passing modern legislation consistent with international best practice, ratifying international arbitration conventions, strengthening judicial capacity to enforce arbitral awards, and investing in local arbitration centers.
Financial Safety Nets and Bank Resolution Frameworks in Southern Africa: Summary of Key Issues and Challenges
(World Bank, Washington, DC, 2019-04) Mortlock, Geof; Casal, Julian; Berg, Gunhild
This report provides an assessment of the current state of development of financial safety nets and bank resolution frameworks in eight countries in southern Africa (Botswana, Eswatini [formerly Swaziland], Lesotho, Mozambique, Namibia, South Africa, Zambia, and Zimbabwe). It has been prepared to inform ongoing and planned technical assistance projects in the southern Africa region and to provide a basis for engagement with the authorities in each of the countries covered by the study. This summary draws from more detailed material contained in a comprehensive study.
Tanzania and Implementation of East Africa Mutual Recognition of Veterinary Medicines
(World Bank, Washington, DC, 2019-03) Baregu, Solomon; Wigenge, Raymond; Shrader, Hans; Thendiu, Isaac
Tanzania has the third largest livestock population in Africa (after Ethiopia and Sudan), but the competitiveness of Tanzania’s livestock sector faces many challenges, including lack of access to good-quality, effective, safe veterinary drugs and vaccines, especially for smallholders. Availability of good-quality, affordable, effective inputs (including veterinary drugs, vaccines, and compound animal feed) in the market is critical to increasing productivity and ensuring the safety of the animals. Taking these challenges into consideration, in 2017, the government asked the Tanzania Food and Drugs Authority (TFDA) and the Ministry of Livestock and Fisheries to establish measures and mechanisms to increase the availability of drugs and vaccines in the country. The TFDA has entered into a memorandum of understanding with the Tanzania Veterinary Council to minimize overlap of functions between them and to increase the availability of quality regulatory services. Effective implementation of the mutual recognition procedures (MRP) will enhance faster registration and availability of good-quality, safe, effective immunological veterinary products (IVPs) and may lower IVP costs.