Investment Policy Monitor
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
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UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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Investment Policy Measures
17 results
Japan
16 Aug 2024Expands list of sectors requiring prior notification for foreign investments
On 16 August 2024, changes to the Foreign Exchange and Foreign Trade Act (FEFTA) Regulatory Notices entered into force. Additional sectors related to “specified critical products” were added to the list of “core business sectors” in [...]
Japan
04 Jun 2024Designated four 'special zones' to create international financial centers
On 4 June 2024, the Government of Japan designated four areas as special zones to promote new entry and expansion of domestic and foreign financial and asset management businesses and attract foreign investment. The government aims [...]
Japan
24 Apr 2023Adds nine sectors to the FDI screening regime
On 24 April 2023, the Government of Japan announced that it would add nine “core business sectors” to the Foreign Exchange and Foreign Trade Act, the country’s foreign direct investment (FDI) screening regime, citing concerns over [...]
Japan
20 Sep 2022Requires pre-notification for the sale or purchase of real estate in select areas.
On 20 September 2022, the Act on Review and Regulation of the use of Real Estate Surrounding Important Facilities and on Remote Territorial Islands entered into force. The Act seeks to safeguard Japan’s security interests by preventing [...]
Japan
07 Jun 2022Adds three banks to the list of sanctions against the Russian Federation and Belarus
On 7 June 2022, the Government of Japan added two Russian banks (Credit Bank of Moscow and Russian Agricultural Bank) and the Belarusian Bank for Development and Reconstruction to its sanction list. These banks are subject to the following [...]
Japan
08 Apr 2022Phases out imports of Russian coal and Prohibits new Japanese investment in the Russian Federation
On 8 April 2022, the Government of Japan announced that it will phase out imports of Russian coal, oil, lumber, vodka and other goods and prohibit new Japanese investment in the Russian Federation, in line with measures taken by other [...]
Japan
05 Oct 2021Foreign investment in activities related to 34 rare-earth metals now subject to screening
On 4 November 2021 (after the 30-day transitional period), the amendment of the Foreign Exchange and Foreign Trade Act (the FEFTA) took effect. According to the amendment, business sectors related to 34 rare-earth metals (e.g. mining [...]
Japan
16 Jun 2021Introduces national security review of real estate usage near sensitive facilities and on border islands
On 16 June 2021, the Japanese Diet passed the Act on Review and Regulation of Real Estate Usage. Once entered into effect (within one year and three months of its publication), the law will allow the Government to review the status [...]
Japan
15 Jul 2020Pharmaceutical and Special Medical Device Manufacturing businesses subject to investment screening
On 15 June 2020, the Japanese authorities publicly announced that starting on 15 July 2020, “manufacturing industries related to pharmaceuticals” and “manufacturing [industries] related to highly-controlled medical devices” will also [...]
Japan
07 May 2020Ministry of Finance released a list of companies deemed important to national security.
On 7 May 2020, the Ministry of Finance released a list of 518 companies in the 12 sectors deemed important to Japan's national security (14 per cent of publicly traded companies) -- including Toyota, Sony, Mitsubishi Heavy Industries, [...]
Japan
07 May 2020Revises rules on foreign investment
On 22 November 2019, Japan's parliament passed a bill, which revised the Foreign Exchange and Foreign Trade Act. This bill tightened regulations on foreign investment in listed Japanese companies related to national security, including [...]
Japan
01 Aug 2019Expands Scope of Industries Subject to Prior Notification for FDI
On 27 May 2019, revisions of Japan’s inward investment screening processes were published in the official gazette. The changes, contained in two public notices, subject additional businesses or expand the scope of already listed businesses, [...]
Japan
17 May 2018Support Program for Regional Foreign Direct Investment in Japan
On 17 May 2018, the Council for Promotion of Foreign Direct Investment in Japan launched the Support Program for Regional Foreign Direct Investment in Japan. It recommends that local governments formulate a Plan to Attract Foreign [...]
Japan
01 Oct 2017Strengthens the rules to exercise control of critical technologies and goods
On 1 October 2017, changes to Japan’s rules on the review of inward foreign investment came into effect. The changes are based on a reconsideration of threats to national security, changes to the business environment and the spread [...]
Japan
01 Apr 2016Introduces Investment Advisor Assignment System
On 1 April 2016, the Japanese Government selected nine foreign companies under the newly introduced "Investment Advisor Assignment System" announced in January 2016. It is a system through which State Ministers etc. will act as advisors [...]
Japan
04 Nov 2015Japan Post (state-owned company) goes public
The Japanese government succeeded with the initial public offering (IPO) of 'Japan Post' on 4 November 2015. Three Japan Post units - Japan Post Bank, Japan Post Insurance and the parent Holdings company - listed 11 per cent of their [...]
Japan
11 Jan 2013Support Japanese outward investment
Japan adopted “Emergency Economic Measures for The Revitalization of the Japanese Economy”, which, inter alia, facilitate the expansion of Japanese businesses in overseas markets. [...]
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The Investment Policy Monitor provides the international investment community with up-to-date, country-specific information on recent policy developments affecting foreign direct investment (FDI).
Through its ongoing monitoring of investment policy changes, UNCTAD delivers cutting-edge and forward-looking contributions to investment policy discourse. The Monitor also supports evidence-based policymaking aimed at ensuring that foreign investment contributes to sustainable development. The Monitor also informs the analysis of global and regional investment policy trends featured in the World Investment Report, the Investment Policy Monitor publications and the joint UNCTAD-OECD Reports on G20 Investment Measures.
UNCTAD has tracked changes in national policies affecting FDI on an annual basis since 1992. Over time, the methodology has been revised to enhance the quality and consistency of reporting. The most recent revision, completed in 2024, further refined the monitoring framework and applied the updated classification to policy measures dating back to 2012.
-
UNCTAD Investment Policy Monitor The UNCTAD Investment Policy Monitor database compiles official measures affecting FDI adopted by United Nations Member States. These encompass measures explicitly targeting foreign investment (FDI-specific), as well as general investment measures that have a clear impact on such investment (FDI-related).
The measures are either reported directly to UNCTAD by Member States through annual surveys or identified by UNCTAD researchers through publicly accessible sources (such as government websites and specialized policy databases).
The classification of measures as more or less favourable to investors is based solely on their potential impact on investors. The type of measures included in each category are described below. This classification does not reflect any value judgement by UNCTAD on the merit or suitability of the measure.
Classification of the nature of measures
More favourable to investors
Liberalization: includes privatization; lifting of entry restrictions (e.g. opening of sectors to FDI) and entry conditions (e.g. minimum capital requirement); removal (total or partial) of FDI screening or approval mechanisms; lifting of foreign exchange restrictions; liberalization of land access.
Facilitation: includes streamlining of investment procedures (e.g. one-stop shops); greater transparency of investment-related laws and procedures (e.g. information portals); introduction by IPAs and other entities of new services to assist investors (e.g. linkages programmes, investor visa facilitation or alternative dispute resolution mechanisms).
Promotion: includes establishment of IPAs or other institutions with a remit as investment promoters and expansion of their mandate; adoption of investment promotion strategy and plans; introduction of PPPs, auctions, and concessions initiatives or framework; introduction of OFDI promotion initiatives.
Incentives: includes adoption of new tax and financial incentives schemes for investment; introduction of other incentives (e.g. citizenship by investment programmes); adoption of new SEZ-related incentives.
Other regulatory changes: includes enhancement of investor treatment and protection guarantees; easing of labour or migration regulations concerning foreign hires and key personnel; removal of operational restrictions on investment (e.g. local content requirements).
Less favourable to investors
Entry: includes introduction or tightening of entry restrictions (e.g. total or partial ban on FDI in specific sectors); introduction or tightening of entry conditions (e.g. minimum investment threshold, joint venture requirements or State participation in strategic sectors); introduction or expansion of screening mechanisms for national security.
Treatment and operation: includes introduction or expansion of foreign exchange restrictions; introduction or expansion of restrictions on foreign hires and key personnel; removal or reduction of investment incentives; introduction or expansion of post-establishment requirements for local content; reduction of guarantees for investment treatment and protection; introduction or expansion of restrictions on OFDI.
Note: Measures are verified, to the fullest extent possible, by referencing government sources. The compilation of measures is not exhaustive.
Disclaimer: the boundaries and names shown and the designations used on this map do not imply official endorsement or acceptance by the United Nations.
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