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
Germany
30 Aug 2024Provides State aid to support the decarbonization of industrial production processes
On 10 April 2024, the European Commission has approved a €2.2 billion State aid scheme from Germany to support the decarbonization of industrial production processes, in line with the Green Deal Industrial Plan. The scheme provides [...]
Germany
27 Jun 2024Provides a €3 billion State aid scheme to develop hydrogen transmission infrastructure
On 21 June 2024, the European Commission approved a €3 billion State aid scheme of Germany to support the development of the Hydrogen Core Network (HCN), a long-distance hydrogen transmission infrastructure for fostering renewable [...]
Germany
05 Apr 2024Supports the production of renewable hydrogen through direct grants
On 5 April 2024, the European Commission approved a €350 million State aid scheme of Germany to support renewable hydrogen production through the European Hydrogen Bank’s “Auctions-as-a-Service” tool. The scheme is designed to assist [...]
Germany
05 Oct 2023introduces new fines in relation to the sanctions regime against the Russian Federation
On 5 October, the 20th amendment to the Foreign Trade and Payments Ordinance (AWV) came into effect, introducing new fine provisions in relation to the following acts: acquiring or extending shareholdings in entities involved in the [...]
Germany
05 Oct 2023Lays the foundations for digitalizing the investment screening process
On 5 October, the 20th amendment to the Foreign Trade and Payments Ordinance (AWV) came into effect, introducing the groundwork for a digitalization of the investment screening process. AWV allows full online communication for documents [...]
Germany
07 Sep 2023Introduces fee for investment screening
On 7 September 2023, the Federal Ministry for Economic Affairs and Climate Action (BMWK) and the Federal Office of Economics and Export Control (BAFA) enacted a Special Fee Ordinance, introducing fees for services provided by in the [...]
Germany
19 Jul 2023Introduces a €3 billion scheme to support private investments in transition to a net-zero economy
On 19 July 2023, the European Commission approved a €3 billion State aid scheme by Germany to support private investments in strategic goods essential for the transition to a net-zero economy. The aid will be provided through direct [...]
Germany
06 Sep 2021Extends the FDI screening mechanism to Software and IT Services necessary for the provision of critical infrastructure
On 6 September 2021, the 2nd amendment to the BSI Critical Infrastructure Ordinance (Zweite Verordnung zur Änderung der BSI-Kritisverordnung) was adopted. The new amendment expands the definition of the facilities necessary for the [...]
Germany
01 May 2021FDI screening expanded over high-tech
On 1 May 2021, the 17th amendment to the Foreign Trade and Payments Ordinance entered into force. The new ordinance reorganizes the list of sectors and activities covered by the FDI review mechanis, which now enumerates 27 sectors. [...]
Germany
17 Jul 2020Amends its FDI screening regime
On 17 July 2020, the first amendment to the Foreign Trade and Payments Act entered into force. It aims at implementing the European foreign investment screening regime in Germany. Furthermore, it expands the scope of the foreign acquisition [...]
Germany
20 May 2020Responses to COVID-19 by tightening FDI screening
On 20 May 2020, the German government amended the Foreign Trade and Payments Ordinance, focusing on critical public health services. It stipulates that foreign acquisitions of at least 10 per cent stock in German companies developing, [...]
Germany
19 Dec 2018Germany expands the scope of its FDI screening regime
At the end of 2018, the German government amended the Foreign Trade and Payments Ordinance in order to expand the scope of its FDI screening mechanism. Firstly, the amendment lowers the foreign ownership threshold from 25% to 10% in [...]
Germany
18 Jul 2017Expands the scope of foreign investment screening
On 18 July 2017, an amendment to the Foreign Trade and Payments Ordinance entered into effect. The changes substantiate the scope of the cross-sectoral review mechanism, referring to foreign direct investment that may threaten public [...]
Germany
24 Oct 2016Withdrawal of the approval of the acquisition of Aixtron by Chinese investors
The German Federal Ministry of Economic Affairs and Energy withdrew the initial certificate of non-objection of the takeover of the semiconductor manufacturer Aixtron by the Chinese firm Fujian Grand Chip. [...]
Germany
08 Jun 2016Parliament revises corporate tax rules placing foreign and domestic investors on equal footing
On 8 June 2016, the Parliament approved legislative changes which will grant foreign investors the same tax status as domestic investors. Previously, domestic funds were exempt from paying corporate income tax on revenue related to [...]
Germany
01 Sep 2013Introdcues changes to the review mechanism for foreign investment
On 1 September 2013, changes to the German review mechanism for foreign investment came into effect. The changes, introduced through an amendment to the Foreign Trade and Payments Act (Außenwirtschaftsgesetz or AWG) and the Foreign [...]
Germany
01 Jul 2013-
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
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