联合国贸易发展委员会-东南非共同市场2025年投资报告：投资趋势和政策见解

Investment Trends andPolicy Insights 2025COMESA Investment Report Investment Trends andPolicy Insights Clearance Center at copyright.com. All other queries on rights and licenses, including subsidiary rights, should be addressed to: 405 East 42nd StreetNew York, New York 10017 Email: publications@un.orgWebsite: https://shop.un.org/ imply the expression of any opinion whatsoever on the part of the United Nations concerningthe legal status of any country, territory, city or area or of its authorities, or concerning the Mention of any firm or licensed process does not imply the endorsement of the United Nations. This publication has not been formally edited. United Nations publication issued by the United Nations Conference on Trade and Development UNCTAD/DIAE/2025/2 eISBN: 978-92-1-154593-7Sales No. E.25.II.D.44 Acknowledgements of UNCTAD, with technical supervision by Richard Bolwijn. Research for and preparation ofthe report was led by Ashraf Abdelaal with guidance from Amelia U. Santos Paulino and AstritSulstarova, and contributions from Hamed El Kady and Massimo Meloni. The report benefitedfrom advice, comments and inputs provided by Anastasia Leskova, Chantal Dupasquier, MahaEl Masri, Mathilde Closset, Sophia Milliaud and Vincent Beyer. secretariat of the Common Market for Eastern and Southern Africa (COMESA), based inZambia (Lusaka) and the COMESA Regional Investment Agency, based in Egypt (Cairo), aswell as their close collaboration. Management of the United Nations Office at Geneva.Production of the report was supported by Katia Vieu and Elisabeth Mareschal of UNCTAD. Table of contents Abbreviations....................................................................................vExplanatory notes............................................................................viiExecutive summary........................................................................viiiInvestment trends.............................................................................1 2.Overall trends in COMESA...............................................................................9 b.FDI trends in SEZs......................................................................................27c.FDI trends in the digital economy................................................................28 3.SDG investment trends in COMESA................................................................33 Investment policy trends................................................................39 1.National investment policies............................................................................41 bInvestment policies less favourable to investors...........................................44cNational investment laws.............................................................................45 2.Digital investment facilitation in COMESA.......................................................47 3.International investment agreements...............................................................51 an overview.................................................................................................51b.BITs concluded by COMESA’s member States – key features......................52c.Revision of the CCIA agreement: UNCTAD’s ongoing support toCOMESA secretariat...................................................................................52d.Way forward: regional approach to IIA reform...............................................53 Concluding remarks......................................................................54 References.....................................................................................56 Annex tables....................................................................................57 Abbreviations SMEssmall and medium-sized enterprisesTIPtreaty with investmentprovisionUNCTADUnited Nations Conferenceon Trade and DevelopmentIPIntellectual propertyIPAinvestment promotion agencyIPFinternational project financeISDSinvestor–State disputesettlementISSBInternational SustainabilityStandards BoardITUInternationalTelecommunication UnionLDCleast developed countryLLDClandlocked developingcountryM&Asmergers and acquisitionsMERCOSURSouthern Common MarketMFNMost-Favoured NationMIGAThe Multilateral InvestmentGuarantee AgencyMNEmultinational enterpriseMTSPCOMESA’s Medium-Term Strategic Plannfor2026–2030NEXINippon Export andInvestment InsuranceNTNational TreatmentODAofficial developmentassistanceOECDOrganisation forEconomic Co-operationand DevelopmentPPPpublic–private partnershipPRIpolitical risk insurance Explanatory notes or areas. In addition, the designations of country and economy groupings are intended solelyfor statistical or analytical convenience and do not necessarily express a judgement about thestage of development reached by a particular country or area in the development process. Costa Rica, Mexico and Türkiye), European Union member countries that are not OECDmembers (