Liberalising foreign direct investment policies in the APEC region PDF
Preview Liberalising foreign direct investment policies in the APEC region
LIBERALISING FOREIGN DIRECT INVESTMENT POLICIES IN THE APEC REGION This book is dedicated to my family. Liberalising Foreign Direct Investment Policies in the APEC Region BERNIE BISHOP School of International Business Griffith University R Routledge O U T LED Taylor & Francis Gruop G E LONDON AND NEW YORK First published 2001 by Ashgate Publishing Reissued 2018 by Routledge 2 Park Square, Milton Park, Abingdon, Oxon OX14 4RN 711 ThirdAvenue, New York, NY 10017, USA Routledge is an imprint oft he Taylor & Francis Group, an informa business Copyright © Bernie Bishop 2001 All rights reserved. No part of this book may be reprinted or reproduced or utilised in any form or by any electronic, mechanical, or other means, now known or hereafter invented, including photocopying and recording, or in any information storage or retrieval system, without permission in writing from the publishers. Notice: Product or corporate names may be trademarks or registered trademarks, and are used only for identification and explanation without intent to infringe. Publisher's Note The publisher has gone to great lengths to ensure the quality of this reprint but points out that some imperfections in the original copies may be apparent. Disclaimer The publisher has made every effort to trace copyright holders and welcomes correspondence from those they have been unable to contact. A Library of Congress record exists under LC control number: 200108877 5 ISBN 13: 978-1-138-72232-3 (hbk) ISBN 13: 978-1-315-19361-8 (ebk) Contents List of Figures and Tables VI Acknowledgements vii List of Abbreviations VM Introduction 1 1 The Investment Liberalisation Process in APEC 9 2 The Current State of Foreign Investment Policies in the APEC Region 39 3 The Constraints to Further Libéralisation 79 4 The Neglected Issue of Investment Incentives 120 5 Policies for a Liberalised Investment Environment 145 Conclusion 172 References 182 Index 197 v List of Figures and Tables Figure 1.1: Total Foreign Investment Inflows for APEC Economies 6 Figure 1.2: Transnationality Index 7 Figure 1.1: APEC’s Investment Related Bodies 10 Table 5.1: Corporations in East and Southeast Asia with 20 per cent Family Control (unit: %) 158 vi Acknowledgements I would like to acknowledge the assistance given to me by the staff of the APEC Secretariat in providing hard copies of many public APEC documents and in discussions with me about my research. I would also like to acknowledge the financial support provided by the School of International Business, Griffith University for this research. Finally I would like to thank Maureen Todhunter and Robyn White for their improvements to this book and my publishers for their patience. Note All dollar figures in this book represent $US unless stated otherwise. Vll List of Abbreviations ABAC APEC Business Advisory Council AFT A ASEAN Free Trade Area APEC Asia Pacific Economic Cooperation ASEAN Association of Southeast Asian Nations BKPM Indonesian Investment Coordinating Board BKPMD Indonesian Regional Investment Co-ordinating Board CEO chief executive officer CER Closer Economic Relations - Australia and New Zealand CFIUS Committee on Foreign Investment of the United States COCHILCO Copper Commission of Chile CONITE National Commission on Foreign Investment and Technology DL Decree Law EAER East Asian Executive Reports EOI export oriented industry EPG Eminent Persons’ Group EU European Union FDI foreign direct investment FEER Far Eastern Economic Review FIA foreign investment approved FIRB Foreign Investment Review Board GATS General Agreement on Trade in Services GATT General Agreement on Tariffs and Trade GDP gross domestic product HCI heavy and chemical industry ICSID International Convention for the Settlement of Investment Disputes IEG Investment Experts Group IMF International Monetary Fund KISC Korea Investment Services Centre M&A merger and acquisition MERCOSUR Southern Common Market MIDA Malaysian Industrial Development Authority MNC multinational corporation vm List of Abbreviations ix MOFTEC Ministry of Foreign Trade and Economic Relations NAFTA North American Free Trade Area NBIP non-binding investment principles NCFI National Commission of Foreign Investment NEP New Economic Policy NIE newly industrialised economy OECD Organisation for Economic Cooperation and Development OIC Overseas Investment Commission PBC Pacific Business Council PECC Pacific Economic Cooperation Council PEZA Philippine Economic Zone Authority R&D research and development RHQ regional headquarters SEZ special economic zone TRIM Trade Related Investment Measures UMNO United Malay National Organisation UNCTAD United Nations Conference on Trade and Development UNCTC United Nations Centre on Transnational Corporations WTO World Trade Organisation
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