Growing competition to attract FDI requires governments to become increasingly creative and agile to satisfy investor needs.
Investment promotion agencies (IPAs) are one of, if not the most important stakeholders when it comes to attracting capital and investment that leads to
economic and social growth.
Based on over half-year of research, Emerging Europe has produced a groundbreaking, never-done-before, 40-page report including best practice and most common shortfalls and a ranking of 23 national investment promotion agencies from our region.
The report and ranking were produced to:
• assess how each national IPA from twenty-three countries in the region performed
• acknowledge best practice
• set new benchmarks for the region’s IPAs
• help investment promotion agencies better allocate their marketing and communication resources and empower their investor relations teams
Emerging Europe’s team of analysts engineered a methodology and ran an assessment —a series of over 60 questions— that looks at two essential aspects of investment promotion: communications and enquiry handling. This involved a deep analysis of online communications and websites, as well as a comprehensive enquiry handling process carried out with each of the 23 national IPAs.
Supporting research comes from the World Bank’s investment promotion best practice and the International Economic Development Council’s Winning Strategies in Economic Development Marketing 2017.
The 40-page standard version is aimed at national, regional and municipal investment promotion agencies and other interested parties.
It contains the following sections:
• Executive summary
• Four full rankings of all twenty-three national IPAs: general, communications, enquiry handling and FDI inflow per capita
• FDI expert comments
• Actionable examples of best practice
• Analysis of most common shortfalls and how to avoid them
Exclusive for the national investment promotion agencies featured in the report.
The Bespoke version contains the full findings from the Standard version, plus a fully customised section focused on the findings related to a particular national IPA (one of the 23 included in the survey).
The customised section contains details of how this IPA performed in marketing communications and enquiry handling, as well as achievements, shortfalls and recommendations.
“I think that it is really important that governments and IPAs look outside in and not inside out which is what most governments tend to do. They see everything from a local perspective, and this is not competitiveness. (…) We are not in a position where we can be unfriendly as there are a million different options, [investors] could go to Singapore or somewhere else. The only way that the region can win an investment is being the best because we don’t have the market size, so it is about talent — if we don’t have it why should people come in? The next issue is what I call institutional efficiency, right, and I think this is where CEE is in the middle ground, and we need to be the best.”
Peter Stračar, CEO and President, GE Europe
“One important element which is very often underestimated is the exchange of best practices, and my understanding is exactly what you are trying to do here (with the report and the Awards) is the exchange of practices. We tell each other what we have achieved, how we have achieved it, what our problems are. My strong advice would be to concentrate very much on this exchange of best practices.”
Günter Verheugen, former Vice President of the European Commission and former European Commissioner for Enlargement
“We emphasise the fact that different countries are at different stages of development, and therefore they are looking for different things. But the challenge is also that everybody comes to London and says ‘we are open’, but that promise is not delivered when investors try to follow up. Not everyone receives the same level of service they expect. (…) If you have little resources, focus those resources on what investors are looking for as opposed to what maybe you are really keen to get out there and promote.”
Olga Grygier-Siddons, CEO, PwC Central and Eastern Europe
“If I walk past a shop window and it is shabby, it’s unlikely I am going to walk in, and that is the reality. If I do have the guts to walk in and I am treated pretty badly and what I need is not available to me, then I will walk away. (…) IPAs are publicly-funded organisations with taxpayers money, so they do have a duty to deliver on behalf of the government that funds them and on behalf of the people that pay them to do so.”
Anne-Marie Martin, Chief Executive, Council of British Chambers of Commerce in Europe (COBCOE)