29 March 2012 marked the entry into force of the ASEAN Comprehensive Investment Agreement (ACIA). The agreement, signed by the ASEAN Economic Ministers, was in response to the compettive global environment for foreign direct investments with the aim of creating a freer and more open investment regime in ASEAN based on international best practices. ACIA is an enhanced agreement that encompasses 4 pillars, namely: liberalisation, facilitation, protection, and promotion. An important element of ACIA is the protection of investments, including the issue of the settlement of disputes, particularly Investor-to-State dispute. It will ensure that ASEAN remains an attractive destination for investors, taking into account investors’ needs and interests through improved transparency, consistency and detailed mechanisms to address disputes.
To improve the understanding of the ACIA provisions among the policy makers, academia and the business sector utilizing the ACIA Guidebook and Handbook for Investment Promotion Agencies (IPA), which were produced under the an earlier AADCP funded project, “Promoting ACIA,” a series of socialisation forums for investors and seminars for frontline staff of ASEAN investment promotion agencies are being held in various ASEAN countries. Jakarta joins Kuala Lumpur and Manila as former hosts to these events. Additional information from the Jakarta forum and seminar on April 15-16, 2015 can be found here. The next ACIA socialisation activities will be held in Brunei International Convention Centre (ICC), Berakas, Brunei Darussalam on May 6-7, 2015 and hosted by the Ministry of Foreign Affairs and Trade.