2012 ICC Guidelines for International Investment
This 2012 revision represents the efforts of business experts from the ICC Commission on Trade and Investment Policy who undertook a comprehensive review of the 1972 Guidelines.
In particular, the revision notes the sharp increase of international investment inflows to and outflows from developing and transition economies countries: 52% of the total investment inflows and 29 % of total investment outflows in 2010.
The Guidelines are a needed update reflecting the shared global experience of the four decades of economic development since 1972. Above all, they are a reaffirmation of the fundamental principles for investment set out by the business community in 1972 as essentials for further economic development. It is hoped that these Guidelines will be useful for investors and governments alike in creating a more enabling environment for cross-border investment and in understanding more clearly their shared responsibilities and opportunities in fulfilling the vast potential of cross-border investment for shared global growth.
This update retains the proven construct of the 1972 Guidelines, setting forth separately responsibilities of the investor, the home government and the host government. Many useful elements have been added: the introduction to provide setting and context, significant updates as for example the chapters on labour and fiscal policy to reflect the environment for international investment today, and new chapters on competitive neutrality, and corporate responsibility.
In sum, these Guidelines represent a comprehensive effort on the part of ICC, to produce a forward-looking document that will become a global business reference on cross-border investment for a global audience.