To facilitate the effective implementation of an investment project, a government also needs to ensure that applications for permits and licenses are promptly reviewed and accepted/ rejected on the basis of objective and transparent criteria and that all administrative decisions and regulatory actions are subject to transparent review procedures.
Given the long terms of many investment projects, flexible review mechanisms also need to be in place to address changes of circumstance that may require the terms of an investment contract to be revised or updated.
Key Tools At This Stage
Sustainable Decommissioning and Closure of Oil Fields and Mines, EI Contract Monitoring Roadmap, The EPEC PPP Guide
