Source · Select Committees · Foreign Affairs Committee
Recommendation 46
46
Accepted in Part
Official Development Assistance in the region should target regulatory improvement for business environment.
Conclusion
Official Development Assistance (ODA) in the region should be targeted on regulatory improvement to strengthen the rule of law and build an effective business environment to encourage both domestic and inward investment. Progress on this should be measured by establishing a model composed of indicators based on World Bank and OECD business-friendliness criteria against which each country can be assessed annually. (Paragraph 139) Countries Taiwan
Government Response Summary
The government agrees on targeting ODA for regulatory improvement to strengthen the business environment and states the new ASEAN-UK Economic Integration Programme will promote regulatory excellence. However, it notes ODA also supports other priorities and does not commit to establishing the recommended specific measurement model.
Government Response
Accepted in Part
HM Government
Accepted in Part
The Government agrees on the importance of supporting an effective business environment in ASEAN, including through regulatory reform to support stronger and more equitable growth and development. The new ASEAN-UK Economic Integration Programme announced by the former Foreign Secretary during his visit to Jakarta in July 2023 will target UK Official Development Assistance to promote regulatory excellence, open trade and financial services development in South-East Asia. While this forms an important part of the UK’s ODA portfolio in South-East Asia, we are also using ODA to support a range of other priorities under the ASEAN-UK Dialogue Partnership including girls’ education, public health and action to mitigate and adapt to climate change.