Aftercare Explained. Part I

Beschreibung

This is the first comprehensive framework to explain aftercare in foreign direct investment and how locations can thrive by collaborating with long term foreign companies for the wider good. Aftercare and policy advocacy are the most advanced steps of a foreign investor’s journey. They include a wide range of approaches by host economies to retain investment, encourage follow-on investment and achieve greater local economic impact through a multi-stakeholder dialogue that leads to improvement of the business environment. There are sound business, economic development and governance cases to deliver investor services. The few locations that have embraced aftercare so far have interesting success stories to share. For the past decade Carolina Arriagada Peters has worked to identify the sometimes hidden variables which lead to job creation by foreign investors. In this book she explores the why, what and how of aftercare and develops practical frameworks to understand the dynamics of the industry. How can locations excel at retaining and expanding the local imprint of foreign investors? With case studies of many successful joint projects between the private and the private sector from around the world, this book unpicks the landscape in which the industry operates and explains the dynamic between aftercare, policy advocacy and location competitiveness. It lists innovative examples of investor participation to inform, inspire and mobilise other locations to follow suit and by doing so, empowers locations, thinkers and doers to jointly amplify sustainable foreign investment practices.
With seventy per cent of all jobs created by foreign investors occurring years after the new company has landed in the host economy, the need for a long term perspective stands strong. Despite these significant figures, helping international companies grow is an industry that has rarely received sufficient attention. There is little research on this subject, even less training material and only a few frameworks to guide the work of professionals in the field. Locations are left to their own to figure out how to serve the needs of growing companies. Current international development put the limelight on aftercare: increasing protectionism on one side drives locations to “work with what they have” and seek to retain the investors already established in their territories. Globalisation on the other hand increases the number of cross-border investment activities; there are existing foreign investors in virtually every city worldwide. In addition, there is an emerging trend of multinationals to reach out to the public sector of the countries they operate to develop partnerships of size and scale not seen before. Whilst a few developed economies have put highly complex systems to maximise corporate growth in place, the majority of locations lack expertise. It is no surprise that those locations that are better equipped are securing the biggest share of reinvestment. The natural consequent is the emergence of an “aftercare divide “ with less equipped locations left behind. Long-term foreign direct investment dividends – i.e. the broader development benefits that results from decade-long investment – is an area that if left unattended can impose significant invisible costs on both business and locations and give space for disenfranchisement sentiment to grow. In many instances, foreign investors have created jobs, boosted growth and provided opportunities. Yet there is still space to maximise their imprint in the host economy, to make it more sustainable and to better distribute the aftercare dividend. For foreign direct investment to become a driver of societal betterment, it is critical to revisit how we create value and how locations and their corresponding policy frameworks can adapt to the imminent opportunities and challenges that evolving business environments, industry 4.0 and demographic changes bring. By neglecting aftercare, locations not only miss out on new jobs created by reinvestment, they disregard the positive externalities business can bring to their locations.  As a result, they unconsciously impoverish the communities they serve. Correcting this oversight should become a priority for the FDI industry. “Aftercare Explained” is the first book to address the why, what and how of aftercare and with practical examples of success cases, is an invitation to address that gap. “Aftercare Explained” is scheduled to be released in December 2017 and is certain to become the most definitive guide to FDI retention for years to come.

Autor*in

Carolina Arriagada
With extensive experience in international trade & investment, Carolina Arriagada Peters spent eight years with London & Partners, widely recognized as one of the world’s best promotional organisations. She designed ambitious Foreign Direct Investment plans attracting high quality companies into London from Europe, the Middle East, Africa and Latin America, delivering thousands of jobs for the Capital. Her work ranged from developing value propositions for new and existing investors to managing complex pipelines from over 80 countries, and working with a wide range of stakeholders to join forces to strengthen London’s offer and raise London’s reputation. A systemic thinker with extensive knowledge of how ecosystems and clusters function, she developed innovative services for new and existing investors and organised regular round tables with other locations to exchange best practice, facilitate peer-to-peer learning and share insights into the future of FDI. Carolina established Cities & Collaboration in 2015 to bring her experience in international trade and investment to a wider audience. She regularly advises and trains locations on how to engage in dialogues that secure investment, maximise international outreach, and create sustainable opportunities that are aligned with the United Nations’ Social Development Goals (SDGs).

Themen in »Aftercare Explained. Part I«

Business business growth clusters collaboration competitiveness economic development economic growth economy ecosystems government growth local value ocation branding placemaking private public partnerships

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