text: Forthediscussion, seechap.IIIbelow. -6-I I iJ._ Rgca11ing Economic andSocial Council resolution 1988/1of 5February 1988anddecision 1988/161 of27July1988, NotingthereportoftheSecretary-General oninvestment oftransnational corporations inAfrica, ~/submitted totheGeneral Assembly atits forty-third session inthecontext ofthemid-term reviewofthe implementation oftheProgramme ofAction, Bearing inmindthefactthattransnational corporations cancontribute toAfrica's economic recovery anddevelopment through increased direct investment inproductive sectors ofAfrican economies, Recognizing thatinvestment bytransnational corporations inAfrica would constitute asignificant sourceofnon-debt creating resource flowstoAfrica, Notingwithconcern thattheshareofinvestments madebytransnational corporations indeveloping countries hasbeensubstantially declining in general andinAfricainparticular, 1.CallsontheSecretary-General toprepare areportcontaining, interalia,recommendations onalternative strategies thatwouldcreate a mutually beneficial framework andleadtoconcrete measures toencourage transnational corporations torespond positively toimprovements inthe investment climate inAfrica andthereby promote economic growth and self-sustaining socio-economic development, inaccordance withtheUnited Nations Programme ofActionforAfrican Economic Recovery andDevelopment 1986-1990, andtheLagosPlanofActionfortheImplementation oftheMonrovia Strategy fortheEconomic Development ofAfrica, adopted in1980, ~/ especially inthosesectors inwhichtransnational corporations canmakea greatcontribution through capital mobilization, technical expertise, transfer oftechnology andmarketaccess; 2.Invites thehomecountries oftransnational corporations to encourage, asacomplement tomeasures takenbydeveloping countries themselves, investment bysuchcorporations inalldeveloping countries, particularly inAfrica, andtothatend,consider providing, interalia, financial andfiscalincentives, including tax-sparing; 3.Requests theSecretary-General tocontinue tomobilize resources for increased support oftechnical assistance requirements ofAfrican countries, atthenational! subregional andregional levels, toenable themtoincrease theircapacities todealwithtransnational corporations, soastotake advantage ofinvestment opportunities through transnational corporations; 4.Requests theSecretary-General toupgrade thereportprepared for themid-term reviewoftheimplementation oftheProgramme ofAction, ~/ providing detailed andcomprehensive coverage offoreign direct investment in Africa onasector bysectorbasis, andtosubmit areportthereon tothe Commission onTransnational Corporations atitssixteenth session. ~/A/43/500/Add.2. 2/A/S-ll/14, annexI. -7- 1j -l ,'l ,1 -1 ~l 'I, .).\ 'II, j r.Il,'1! J ', I , j 1ii ;~.~~-........... I, I l~ I.,~I!.' j. !'1)'~I'I,4 !'1.J, '~ 'j I 1 I '1 I Ij \ I j \ ! I I .1 [ I fI I! I 'j II j !Ij I I I,I II,j I 1, I ,I I1 ,:1 ~DRAFTRESOLUTION VII Activities oftrqnsnational corporations inSouthAfrica andNamibia* TheEconomic andSocialCouncil, Recalling itsprevious resolutions ontheactivities oftransnational corporations inSouthAfrica andNamibia, inparticular resolution 1988/56 of
analysis: The text discusses the activities of transnational corporations in Africa, specifically in South Africa and Namibia, and their potential impact on the economic development of the region. It also mentions the need for alternative strategies to encourage investment by transnational corporations and the importance of technical assistance to African countries to increase their capacities to deal with such corporations.