UNDP Jobs - 71681- International Consultant

International Consultant - Investment Code Development, Eritrea

Location :

Asmara, ERITREA

Type of Contract :

Individual Contract

Starting Date :

01-Jun-2017

Application Deadline :

27-Apr-17 (Midnight New York, USA)

Post Level :

International Consultant

Duration of Initial Contract :

30 Working days

Languages Required :

English

Expected Duration of Assignment :

30 Working days

UNDP is committed to achieving workforce diversity in terms of gender, nationality and culture. Individuals from minority groups, indigenous groups and persons with disabilities are equally encouraged to apply. All applications will be treated with the strictest confidence. UNDP does not tolerate sexual exploitation and abuse, any kind of harassment, including sexual harassment, and discrimination. All selected candidates will, therefore, undergo rigorous reference and background checks.

Background

The Indicative Development Plan (IDP) for Eritrea recognizes the importance of domestic and foreign direct investment (FDI) in contributing to growth and employment. Strategic Key investment-related priorities in Eritrea include development of a national investment policy, a review of the Foreign Investment Act and related legislation.

The investment regime, which falls under different government ministries and agencies, is primarily governed by the Investment Proclamation of 54/94. The Ministry of Justice, Ministry Trade and Industry, Ministry of local Government and Industry, Ministry of Finance and other Government institutions support the government by promoting, facilitating and regulating investment, ensuring that investment is directed into priority sectors and local employment is generated.

There is basic investment-related legislation in place, as mentioned above, but it needs to be reviewed. The Government of the State of Eritrea seeks to address this critical situation as a matter of priority.

The purpose of the consultancy is to strengthen and update Eritrea’s investment legal framework based on the adoption of good practices. This outcome will be achieved by developing a modern, fit-for-purpose investment policy framework, reviewing and drafting relevant policies, legislation and regulations, developing an investment guide and recommending institutional arrangements appropriate for supporting developing the country

Duties and Responsibilities

The project seeks to hire a legal investment policy experts to strengthen and update the investment policy in Eritrea. The consultancy will undertake the following activities:

General – the investment legislative framework and related institutional arrangements

Examine the macroeconomic environment, including the pattern, sources and uses of investment flows, employment and foreign exchange generated over the last 10 years;
Assess the existing investment incentives as defined under the law, their suitability and effectiveness in promoting and directing investment to priority sectors, and recommend appropriate financial and/or other incentives to promote and facilitate investment including the possibility of establishing free trade zones or special economic zones in priority sectors and regions;
Determine the needs and gaps to support foreign investment
Assess the overall legal framework for investment, identify the existing legal gaps and conflicting policies that act as barriers and disincentives to investment and make recommendations as appropriate on updating the investment legislative framework in line with international best practices to attract and promote investment;
Assess the extent to which investment-related administrative procedures have been streamlined to simplify business registration and licensing procedures and reduce transaction costs. The assessment should include the possibility of establishing a one-stop-shop for investment and the use of online technology and instruments to facilitate implementation of business regulations and procedures;
Assess the existing investment promotion and facilitation institutional framework, analyse its effectiveness, identify the capacity building and institutional strengthening needs and make recommendations on revised more simplified and streamlined investment procedures;
Review the reference classification system of economic sectors and productive activities in use and ensure that it is
Review current public-private sector dialogue initiatives, analyse their effectiveness and recommend the most appropriate formal mechanisms and channels for effective government- investor dialogue on facilitating investment for development;
Review the government strategies towards promoting business development services to support domestic investors in addressing specific challenges (training, access to finance and information on markets and business opportunities);
Assess the effectiveness of linkages between the government, the private sector and small and medium enterprise (SME) support institutions including technical and vocational training;
Assess how the various investment promotion and facilitation measures are coordinated across agencies and the different layers of administration (national/sectoral approaches), identify the challenges and capacity gaps and make policy recommendations to improve investment promotion and facilitation;
Assess the coherence between investment promotion measures and other policy measures, e.g. trade policy, tax policy, competition policy, climate change policy, labour migration policy, licencing policy, innovation and skills development, infrastructure development, safety, environmental and anti-corruption policies, public procurement, etc.;
Review the extent of investment promotion activities, identify the gaps, propose measures to improve promotion and facilitation for both domestic and foreign investment in Eritrea;
Assess contract enforcement, the domestic dispute settlement system and commercial arbitration. The assessment should include the effectiveness of contract enforcement, institutional requirements to support contract enforcement in the context of increasing the efficiency of the court system and reducing the cost of enforcing contracts;
Assess and recommend appropriate measures for monitoring investment flows and activities and follow-up in Eritrea, including capacity building for collecting and publishing statistics on investment flows.

Domestic investment

Examine the economic sectors/sub-sectors reserved for domestic investors (e.g., retail trade), ensuring that the reserved list of economic sectors is consistent with Eritrea’s international commitments under various trade agreements;
Assess loopholes in the investment framework that could partnership with foreign investment

Foreign direct investment (FDI)

Assess and recommend the forms of FDI (joint venture, greenfield, acquisition of existing business) that should be promoted and encouraged and under what conditions;
Identify the economic sectors/sub-sectors that should be open to FDI and under what conditions/restrictions, consistent with Eritrea schedule of commitments for services, investment and movement of natural persons under various trade agreements; and
Determine the efficacy of investment guarantees against expropriation with fair and prompt compensation.

In addition to the above, the consultant should review best practice resources that are available for drafting legal texts on investment. , for example, the resources of the International Finance Centre’s Facility for Investment Climate.

The project seeks to hire a legal investment policy experts to strengthen and update the investment policy in Eritrea. The consultancy will undertake the following activities:

General – the investment legislative framework and related institutional arrangements

Examine the macroeconomic environment, including the pattern, sources and uses of investment flows, employment and foreign exchange generated over the last 10 years;
Assess the existing investment incentives as defined under the law, their suitability and effectiveness in promoting and directing investment to priority sectors, and recommend appropriate financial and/or other incentives to promote and facilitate investment including the possibility of establishing free trade zones or special economic zones in priority sectors and regions;
Determine the needs and gaps to support foreign investment
Assess the overall legal framework for investment, identify the existing legal gaps and conflicting policies that act as barriers and disincentives to investment and make recommendations as appropriate on updating the investment legislative framework in line with international best practices to attract and promote investment;
Assess the extent to which investment-related administrative procedures have been streamlined to simplify business registration and licensing procedures and reduce transaction costs. The assessment should include the possibility of establishing a one-stop-shop for investment and the use of online technology and instruments to facilitate implementation of business regulations and procedures;
Assess the existing investment promotion and facilitation institutional framework, analyse its effectiveness, identify the capacity building and institutional strengthening needs and make recommendations on revised more simplified and streamlined investment procedures;
Review the reference classification system of economic sectors and productive activities in use and ensure that it is
Review current public-private sector dialogue initiatives, analyse their effectiveness and recommend the most appropriate formal mechanisms and channels for effective government- investor dialogue on facilitating investment for development;
Review the government strategies towards promoting business development services to support domestic investors in addressing specific challenges (training, access to finance and information on markets and business opportunities);
Assess the effectiveness of linkages between the government, the private sector and small and medium enterprise (SME) support institutions including technical and vocational training;
Assess how the various investment promotion and facilitation measures are coordinated across agencies and the different layers of administration (national/sectoral approaches), identify the challenges and capacity gaps and make policy recommendations to improve investment promotion and facilitation;
Assess the coherence between investment promotion measures and other policy measures, e.g. trade policy, tax policy, competition policy, climate change policy, labour migration policy, licencing policy, innovation and skills development, infrastructure development, safety, environmental and anti-corruption policies, public procurement, etc.;
Review the extent of investment promotion activities, identify the gaps, propose measures to improve promotion and facilitation for both domestic and foreign investment in Eritrea;
Assess contract enforcement, the domestic dispute settlement system and commercial arbitration. The assessment should include the effectiveness of contract enforcement, institutional requirements to support contract enforcement in the context of increasing the efficiency of the court system and reducing the cost of enforcing contracts;
Assess and recommend appropriate measures for monitoring investment flows and activities and follow-up in Eritrea, including capacity building for collecting and publishing statistics on investment flows.

Domestic investment

Examine the economic sectors/sub-sectors reserved for domestic investors (e.g., retail trade), ensuring that the reserved list of economic sectors is consistent with Eritrea’s international commitments under various trade agreements;
Assess loopholes in the investment framework that could partnership with foreign investment

Foreign direct investment (FDI)

Assess and recommend the forms of FDI (joint venture, greenfield, acquisition of existing business) that should be promoted and encouraged and under what conditions;
Identify the economic sectors/sub-sectors that should be open to FDI and under what conditions/restrictions, consistent with Eritrea schedule of commitments for services, investment and movement of natural persons under various trade agreements; and
Determine the efficacy of investment guarantees against expropriation with fair and prompt compensation.

Competencies

Demonstrated ability to facilitate consultative meetings and to make presentations of technical findings to a wide audience; and
Expertise in conducting situation analyses and needs assessments related to investment policy in developing countries;
Experience in providing legal advice to improve legislative and regulatory frameworks consistent international best practices in order to facilitate domestic and foreign investment; and International working experience which would be an asset.

Required Skills and Experience

Education:

A minimum of a Master’s degree in investment law or international trade law or related field.

Experience:

At least 10 years of relevant working experience in investment policy-related work; experience in drafting investment legislation and other investment-related legislation;
Experience in the design of investment policy, preferably in a developing or emerging market country context; and
Experience in facilitating discussions among key stakeholders at a high level to formulate, validate and adopt policies and policy statements.

Language Requirements:

Fluency in written and spoken English is essential.