CICA Director General, Roger Fiszelson, participated to the meeting of the OECD working group on Investment Security in the Mediterranean Region (ISMED) on the 1st of July 2015 in Paris.
The works done by this working group aim at alleviating the structural deficiencies of the existing mechanisms to ensure the security of investments in the Middle East and North Africa (MENA) region.
CICA is leader of the task force 3 on Public Private Partnerships (PPP). The members of Task Force 3 on PPP elaborated recommendations that are being synthesized in a short memory aid document.
On the basis of these works, CICA president Emre Aykar will participate to the training course on PPP in Kuwait organized by the OECD in collaboration with the IMF-Middle east Center for Economic and Finance on the 1-3 September 2015.
PPP Training Seminar Draft Agenda, Kuwait 1-3 September 2015
[UAS_loggedin hint=”Members Only” ex=””] Aide-mémoire exécutif PPP [/UAS_loggedin]
Following the reflections and works initiated since 2010 by the European Union, Multilateral Development Banks, Insurers etc., a new working group was established under the “MENA-OECD Investment Programme” on the occasion of a conference organized by the OECD in December 2013.
The goals of this new OECD working group are to facilitate and also simplify the implementation of major infrastructure projects in the MENA area.
The approach used since the beginning of these reflections is a holistic, comprehensive approach, involving all factors interrelations which constitute the system: institutional, legal, financial, organizational and insurance. This complex approach is the only one realistic because the sum of improvements or independent innovations, even helpful, developed in isolation but without coordinated views and without integration into a global system, could not produce the same effect as in a well-articulated system where all measurements are linked to each other.
During the year 2014, four themes have been identified by the working group OECD – ISMED and discussed within 4 specialized training sessions (“task forces”):
- Guarantees and bond refinancing;
- Islamic finance;
- Public-Private Partnership (CICA is leader);
- International Arbitration.
In Autumn 2014 fourteen proposals have been presented in a catalog: six can be considered as innovations and the rest as improvements or extensions of devices existing in regions other than the MENA area. Half of these recommendations relate to market organization mechanisms, and the rest of them relate to legal devices, Public contributory systems or institutional measures.