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
21 results
Kenya
11 Dec 2024Limits SEZ incentives and raises bank capital requirements
On 11 December 2024, Kenya enacted Business Laws (Amendment) Act, 2024, which introduces comprehensive amendments to various laws including the following: • It amended the Special Economic Zones Act (enacted in 2015) to introduce [...]
Kenya
24 May 2024Launched Strategic Plan 2023-2027 with implications for foreign investment
On 24 May 2024, Kenya launched Strategic Plan for 2023-2027. The Strategic Plan 2023-2027 aims inter alia to significantly enhance the country's attractiveness for foreign investment, targeting an increase in FDI from $500 million [...]
Kenya
14 Feb 2024Approves privatisation of State-owned enterprises in tourism sector
On 14 February 2024, the Cabinet approved the sale of seven State-owned enterprises (SOEs), including the Development Bank of Kenya and several hospitality establishments, such as Golf Hotel Limited, Sunset Hotel Limited, Mt. Elgon [...]
Kenya
09 Oct 2023Adopts Privatization Act, 2023
On 9 October 2023, the President of Kenya signed the Privatization Act 2023 into law, marking significant changes to Kenya's privatization framework. Key amendments include: - Renaming the Privatization Commission to the Privatization [...]
Kenya
02 Oct 2023Launches the Meru County Aggregation and Industrial Park
On 2 October 2023, Kenya launched the Meru County Aggregation and Industrial Park in the Ruiri Rwarera Ward. The Park is Flexible free zone warehousing solutions to start and expand business, for local and foreign companies looking [...]
Kenya
11 Sep 2023Enacted Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Act, 2023
On 11 September 2023, Kenya implemented Anti-Money Laundering and Combating of Terrorism Financing Laws (Amendment) Act, 2023. Effective 15 September 2023, the Amendment extended beneficial ownership disclosure requirements to foreign [...]
Kenya
06 Sep 2023Launches search for port operators
On 6 September 2023, the Kenya Ports Authority (KPA) issued a tender inviting firms to prequalify for the opportunity to develop and operate key port assets through 25-year public-private partnership (PPP) arrangements. The deadline [...]
Kenya
22 Aug 2023Removes the 30 per cent local shareholding requirement in the ICT Sector
On 22 August 2023, the Ministry of Information, Communications, and the Digital Economy published in the Kenya Gazette an amendment to the National Information Communications and Technology Policy Guidelines of 2020, which required [...]
Kenya
11 Aug 2023Launches the Busia industrial park
On 11 August 2023, Kenya launched the Busia County Aggregated Industrial Park - the country’s first County Aggregated Industrial Park (CAIP). The Park is intended to serve as a hub for agricultural processing and manufacturing, providing [...]
Kenya
16 Feb 2023Declares three new export processing zones
On 16 February 2023, Kenya announced the launching of three new export processing zones (EPZs), namely land in Bonje (Kwale County), a space in a building in Bombululu (Mombasa County), and office space and land in Mavoko (Machakos [...]
Kenya
21 Jun 2022Introduces several changes to align tax regime to development priorities
On 21 June 2022, Kenya’s President assented into law the Finance Act, 2022. The Act amends various laws including the Income Tax Act (ITA), the Insurance Act, and the Capital Markets Authority Act. Amont others, the Act introduced: [...]
Kenya
23 Dec 2020Kenya Tax Law Amendment Act (No. 2) of 2020
On 23 December 2020, the Kenyan President assented to the Tax Law Amendment Act (No. 2) of 2020. The Act amends, inter alia, the Income Tax Act. The key amendments include the reinstatement of the resident corporate income tax rate [...]
Kenya
07 Aug 2020National Information Communications and Technology (ICT) Policy Guidelines 2020
Kenya has implemented the National Information Communications and Technology (ICT) Policy Guidelines 2020 (the 2020 ICT Policy), which were published in the Kenya Gazette on 7 August 2020. They introduce local participation requirements [...]
Kenya
07 Nov 2019Adoption of Finance Act 2019
The President of Kenya signed the Finance Act 2019 on 7 November 2019. The Act proposes key amendments to various tax legislation in Kenya including: The Income Tax Act, the Capital Markets Act, and the Banking Act. The Act exempts [...]
Kenya
21 Jun 2017Adoption of the Financial Act with fiscal implications for investors
The new Finance Act introduced the following measures, among others: (i) It requires that transactions between related entities, where one is based in a preferential tax regime in the Special Economic Zones and the other not, be carried [...]
Kenya
09 May 2017New regulations impose local content requirements on mining companies
Kenya introduced new Regulations which require holders of existing mineral rights to submit to the Cabinet Secretary for Mining (CS) procurement plans which must (i) set target levels of local procurement based on a procurement list [...]
Kenya
20 Sep 2016Kenya repealed the 30% domestic ownership requirement for foreign companies
On 20 September 2016, the new Finance Act (Act No. 38 of 2016) was adopted, repealing the 30 per cent domestic ownership requirement for foreign companies established in the Companies Act 2015. The abolition of the ownership requirement [...]
Kenya
12 Aug 2016Special Economic Zones Regulations 2016 ratified
The Government has adopted new rules allowing foreign direct investment (FDI) in special economic zones (SEZ) where products will be manufactured for the export market. These state that the Special Economic Zones Authority must maintain [...]
Kenya
15 Jun 2016Kenya implemented 30% domestic ownership requirement for newly registering foreign companies
Kenya's Attorney-General appointed 15 June 2016 as the date to enforce in full the Companies Act 2015. This new law requires that foreign companies registering in Kenya cede at least 30 per cent of their shareholding to persons who [...]
Kenya
11 Jun 2015Kenya lifts ceiling on foreign ownership of listed firms
Kenya amended Capital Markets (Foreign Investors) Regulations, 2002, by issuing Legal Notice No. 113 of 2015. This amendment abolished the 75 per cent threshold of foreign ownership in listed companies and allows, as a general rule, [...]
Kenya
01 Jan 2012Introduces new law on real estate investment trusts
The Law on Real Estate Investment Trusts (REIT) introduces a new investment vehicle called "Trusts REIT", which exempts the income of REIT investors from corporate tax. [...]
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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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