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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- Austria - New Investment Control Act widens the scope of FDI screening
Austria
New Investment Control Act widens the scope of FDI screening
25 Jul 2020On 25 July 2020, the newly adopted Investment Control Act entered into force in Austria. It has two main purposes: 1) implementation of the EU Regulation on FDI screening, and 2) expansion of the foreign investment review in comparison to the previous regime under the Foreign Trade Act.
The definition of "foreign investment" in the new legislation encompasses the direct or indirect acquisition of a company, of voting rights (10%, 25%, 50%), a controlling influence, or essential assets of a company. The "controlling influence" does not only refer to voting rights, but covers any "possibility of influencing the activities of the target company through rights, contracts or other means individually or together", in particular through rights of ownership or use of all or substantial assets.
Foreign investment are assessed whether they pose threat to security or public order, including crisis preparedness and the provision of public services. It applies only to sectors and activities enumerated in the annex and include two main groups. Particularly sensitive areas encompass: manufacturing of defense equipment and technologies; operation of critical energy and digital (5G) infrastructure; water supply; operation of systems that guarantee the data sovereignty and R&D relating to drugs, vaccines, medical devices and personal protective equipment. Other areas covered by the Act are: critical infrastructure (energy, ICT, transportation, health, food, data processing and storing, finance, social and distribution systems, chemicals, defense, research institutions, real estate necessary for critical infrastructure), critical technologies and dual-use goods (AI, robotics, semiconductors, cybersecurity, defense technologies, quantum and nuclear technologies, nanotechnologies, biotechnologies), security of critical resources supply (power, raw materials, food, medical supplies and drugs), media freedom and plurality, and sensitive information, including personal data.
The new law provides for criminal and administrative penalties in case of a breach. Additionally, a transaction is null and void without prior approval.
Nature of measure:
- Entry restriction
Type:
- Entry and establishment (Approval and admission - screening)
Industry:
- Primary (Agriculture, forestry and fishing)
- Manufacturing (Manufacture of food products, beverages and tobacco products, Printing and reproduction of recorded media, Manufacture of coke and refined petroleum products, Manufacture of chemicals and chemical products, Manufacture of basic pharmaceutical products and pharmaceutical preparations, Manufacture of basic metals, Manufacture of computer, electronic and optical products, and electrical equipment)
- Services (Electricity, gas, steam and air conditioning supply, Water supply, sewerage, waste management and remediation activities, Transportation and storage, Accommodation and food service activities, Publishing, audiovisual and broadcasting activities, Telecommunications, Computer programming, consultancy and related activities, Financial and insurance activities, Real estate activities, Scientific research and development, Other professional, scientific and technical activities, Public administration and defence; compulsory social security, Human health activities, Arts, entertainment and recreation)
Inward FDI:
NoOutward FDI:
NoSources:
- Bundesministeriums für Digitalisierung und Wirtschaftsstandort, Investitionskontrolle, https://www.bmdw.gv.at/Themen/Investitionskontrolle.html, 25 Jul 2020
- Bundesgesetzblatt , Investitionskontrollgesetz sowie Änderung des Außenwirtschaftsgesetzes 2011, https://www.ris.bka.gv.at/eli/bgbl/I/2020/87/20200724?ResultFunctionToken=1dbc7625-69c3-4fd9-ad14-26cdb86c0af8&Position=1&SkipToDocumentPage=True&Abfrage=BgblAuth&Titel=&Bgblnummer=87%2f2020&SucheNachGesetzen=False&SucheNachKundmachungen=False&SucheNachVerordnungen=False&SucheNachSonstiges=False&Suc, 24 Jul 2020
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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
