Want to facilitate FDI? Be SIMPLE and SPECIAL

Matthew Stephenson

Chapter 1 in Handbook of International Business Policy, 2024, pp 8-27 from Edward Elgar Publishing

Abstract: This chapter presents a framework to guide investment authorities in their facilitation efforts. It suggests that authorities may wish to keep things SIMPLE by focusing on Sustainability, Innovation, Measures, Partnerships, Learning, and an Ecosystem approach. In addition, they might want to set themselves apart from the competition by being SPECIAL through adopting a number of innovative (and not widely used) ‘special’ measures. The chapter will suggest seven potential special measures that can be availed by any country, regardless of host-market characteristics or level of development: Silent Yes to ensure that administrative approvals do not get stuck; Parsing to adopt a risk-based approach to approvals; Early Warning System to detect investment at risk; Climate commitments by firms to suggest investment projects that can help deliver on these commitment; Incentives that are smart, scalable and performance-based; Alignment between trade, investment, and industrial policy and measures as well as investment facilitation efforts at different levels of government and governance; and finally, Linkages through supplier database with sustainability dimensions coupled with supplier development programmes to help domestic firms produce goods and services at the quality needed to successfully link with foreign firms.

Keywords: Business and Management; Economics and Finance; Sustainable Development Goals (search for similar items in EconPapers)
Date: 2024
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