International Flow of Private Capital for the Economic Development of Under-Developed Countries

A/RES/824(IX)No PDF available

Who created this mandate?

A Resolution of the General Assembly, published in 1955.

What other versions does this mandate have?

2 versions · 1955–1957

This is an older version — the most recent is A/RES/1035(XI)

1957A/RES/1035(XI)International flow of private capital for the economic development of under-developed countriesLatestCompare with previous version
1955A/RES/824(IX)International flow of private capital for the economic development of under-developed countries

Versions are identified automatically by matching titles within the same organ (~97% accuracy on a manual audit).

What subjects does this mandate have?

17 topics

Capital Goods Double Taxation Economic Agreements Economic Development Economic Surveys Financial Flows Foreign Investments Imports International Monetary System Investment Policy Laws and Regulations Machinery Negotiation Recommendations Technical Cooperation Treaties Written Communications

What does this mandate say?

15 operative paragraphs

Recommends continuing efforts by countries seeking to attract private foreign capital to:

Re-examine, wherever necessary, domestic policies, legislation and administrative practices with a view to improving the investment climate; avoid unduly burdensome taxation ; avoid discrimination against foreign investments ; facilitate the import by investors of capital goods, machinery and component materials needed for new investment; make adequate provision for the remission of earnings and repatriation of capital;

( b) Develop domestic and foreign information services and other means for informing potential foreign investors of business opportunities in their countries and of the relevant laws and regulations governing foreign enterprise;

( c) Consider supplementing their efforts to attract foreign private investment by including in their requests for technical '.dvice and assistance from the United Nations and its specialized agencies as well as from the countries well advanced technically, such matters as:

Economic surveys to determine the sectors most likely to be of interest to private investors and to identify specific opportunities within those sectors;

The preparation of material regarding specific projects in a manner which will command the attention of private investors ;

5 See United Nations publication, Sales No.: 1954.II.D.1, and document E/2546.

iii

The establishment of channels for the presentation of specific projects to potential investors in capitalexporting countries ;

Recommends continuing efforts by countries able to export capital to :

Re-examine, wherever necessary, domestic policies, legislation and administrative practices with a view to encouraging the flow of private capital to capital-importing countries ;

( b) Ensure to potential investors the availability of the fullest possible information on foreign investment opportunities and on the conditions and outlook for investment in individual foreign countries ;

Ensure to capital-importing countries (including firms and individuals therein) the availability of information on the investment desires of firms and individuals in the capital-exporting countries ;

( d) Impress on investors the importance of endeavouring to secure local capital participation in their foreign enterprises whenever feasible and appropriate;

Adopt, within the framework of their institutions, measures on taxation that will progressively reduce international double taxation with a view to its final elimination ;

Recommends continuing efforts by the capitalexporting and capital-importing countries, where appropriate, to take such other steps as may be feasible and mutually acceptable to stimulate the flow of capital to under-developed countries and more especially to :

Negotiate appropriate treaties, agreements, or other arrangements ;

( b) Negotiate treaties on double taxation;

Negotiate agreements, if consistent with national laws, providing for the insurability of certain nonbusiness risks ;

Recommends further that capital-importing and capital-exporting countries consider the desirability and feasibility of establishing investment corporations in individual countries designed to encourage the participation of private investors ;

Declares that, in order for new foreign investments to be an effective contribution to the economic development of the under-developed countries, it is advisable to take into account, among other things, the situation with regard to previously established enterprises so as not to affect their normal development, provided that this is in harmony with the national interest;

Requests the Secretary-General to prepare annually a report on the international flow of private capital and its contribution to an expanding international economy, and on the measures taken by Governments afl'ecting such flow, or announced by them to be under consideration. In preparing the report account should be taken of the discussions on this subject in the Economic and Social Council and in the General Assembly and of the proposals made therein, and of suggestions which may be communicated by Governments, by the International Bank for Reconstruction and Development and by the International Monetary Fund for promoting the international flow of private capital.

11 December 1954.

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