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
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France
25 Jul 2024Provides State aid to support sustainable biomethane production
On 25 July 2024, The European Commission has approved a €1.5 billion State aid scheme of France to support sustainable biomethane production, advancing the transition to a net-zero economy. Open to new installations producing over [...]
France
24 May 2024Offers direct grants to support decarbonization in the manufacturing sector
On 24 May 2024, the European Commission approved a €4 billion State aid scheme of France aimed at supporting decarbonization in the manufacturing sector. The scheme provides direct grants covering up to 30 per cent of investment costs [...]
France
27 Mar 2024Introduces State aid scheme for investments in energy and fuel from biomass and renewable hydrogen
On 27 March 2024, the European Commission approved a €900 million State aid scheme from France to support investments in the production of energy and fuel from biomass and renewable hydrogen, fostering the transition to a net-zero [...]
France
01 Jan 2024Makes the foreign investment control regime permanent and further expands its scope
On 28 December 2023, through Decree No. 2023-1293 the Government of France implemented changes to the foreign investment screening regime. Notably, the Decree makes the regime to control non-European investors crossing the 10 per cent [...]
France
30 Dec 2023Introduces tax credits for investments in green energy projects
On 30 December 2023, the Government of France published Law 2023-1322 of 29 December 2023 on finances for 2024, which introduces a tax credit for investments in the production of batteries, solar panels, wind turbines, and heat pumps. [...]
France
02 Oct 2023Introduces a digital platform for the FDI screening regime
On 2 October 2023, the Directorate General of the Treasury of the French Ministry of the Economy and Finance launched the Foreign Investment in France (IEF) Platform, that serves as the digital platform for submitting authorization [...]
France
23 Dec 2022Further extends the temporary measure lowering the threshold triggering FDI screening
On 23 December 2022, by Decree No. 2022-1622, the French government further extended the temporary measure to lower the threshold for holding voting rights in listed French companies triggering the control of foreign investments in [...]
France
08 Sep 2022Issues guidelines to enhance the transparency of the FDI screening regime
On 8 September 2022, France issued its first set of guidelines on foreign direct investment control. The guidelines clarify the official position on such matters as the scope of an investor definition, types of investments covered [...]
France
22 Dec 2021Temporary measure to lower the control threshold triggering the FDI screening regime extended for another year
On 22 December 2021, the Decree No.2021-1758 was adopted. It extends for a further year the measure to lower from 25% to 10% the threshold for the acquisition of voting rights in French companies carrying out activities sensitive to [...]
France
10 Sep 2021Extends FDI review mechanism to technologies involved in the production of renewable energy
On 10 September 2021, the Decree on foreign investment in France (Arrêté du 10 septembre 2021 relatif aux investissements étrangers en France) was adopted. The Decree extended the list of sectors and critical technologies subject to [...]
France
28 Dec 2020Special measures pertaining to control of foreign investment during the pandemic are prolonged
On 28 December 2020, the Decree n° 2020-1729 was adopted. It prolongs the application of the special regime adopted during the pandemic to control foreign investment from 31 December 2020 until 31 December 2021. The regime has lowered [...]
France
02 Aug 2020Government lowers control thresholds for FDI screening
By Decree no. 2020-892 of 22 July 2020, the French Government lowered the control threshold that requires prior governmental review of a foreign acquisition from previously 25 percent of the shares of listed companies to 10 percent. [...]
France
23 Jul 2020Adjusts the disclosure obligation under the FDI screening mechanism
Along with the temporary change of the FDI screening regime, on 23 July 2020, the Ministerial Order of 22 July 2020 became effective with a view to adjust the information requested under the foreign investment review mechanism. [...]
France
30 Apr 2020Government extends the FDI screening regime as a response to the COVID-19 pandemics
On 29 April 2020, the French Government informed about an amendment to its foreign investment screening regime as a response to the COVID-19 pandemic. By decree of 27 April 2020, the list of sectors and critical technologies subject [...]
France
31 Dec 2019Expands and clarifies its FDI screening regime
The Decree No. 2019-1590 of 31 December 2019 expands and clarifies the foreign investment screening regime in France along with implementing a Ministerial Order. It enters into force on 1 April 2020. The new regulation lowers the [...]
France
22 May 2019Strengthens its FDI screening mechanism with "PACTE Act"
On 22 May 2019, changes to France’s mechanisms to manage acquisition- and ownership-related risk to its essential security interests came into effect. The reform, incorporated in the law commonly referred to as loi PACTE, brings enhanced [...]
France
29 Nov 2018France extends its foreign investment screening
By decree No. 2018-1057 of 29 November 2018 on foreign investments subject to prior authorization, the French Government extended the scope of foreign investment screening to cover new sectors and industries "essential to guaranteeing [...]
France
10 Jan 2017Decrease in the participation of the French State in Engie's capital
The French Government ceded 100 million of shares of Engie (formerly GDF Suez), a global leader in the energy sector, to institutional investors. The ceded shares amount to 3.7 per cent of the capital of the firm. The worth of the [...]
France
28 Oct 2016Privatisation of the Airport of Nice
As part of the enforcement of the 2015 "Loi Macron" concerning, inter alia, the privatisation of state-owned assets, the French Minister of Transport signed a decree that transfers the State-owned shares of the Airport Nice-Côte d'Azur [...]
France
15 Jun 2015Government privatizes entirely Arianespace
On 15 June 2015 a contract was signed between the French state-owned company, "Centre national d'études spatiales" (CNES) and the joint enterprise Airbus Safran Launchers (ASL) for the sale of CNES's entire 34,68% stake in the space [...]
France
14 May 2014Amends the list of activities subject to review for foreign investors
On 14 May 2014, the Minister of Economy issued a decree amending the articles of the law that inter alia regulates foreign investment. The decree amends the list of activities subject to review for foreign investors equipment, services [...]
France
19 Dec 2013
France
01 Oct 2013Introduces fines for firms that close factories deemed economically viable
The French Parliament passed a bill imposing penalties on companies that shut down operations deemed economically viable. The law requires firms with more than 1,000 employees to prove that they have exhausted options for selling a [...]
France
01 Jan 2013
France
01 Jan 2013Establishes new public investment bank
France set up a public investment bank (“Banque Publique d’Investissement”). The new institution will focus on the support of small- and medium-sized enterprises; it will also promote innovation and export. [...]
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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.
Share
Latest publications
