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The Power of Promoters. Simon Galpin Director-General of Investment Promotion. South – South investment. Greater potential to facilitate investment between developing economies China’s Going Global – inbound and out bound investment to reach equilibrium.
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The Power of Promoters Simon Galpin Director-General of Investment Promotion
South – South investment • Greater potential to facilitate investment between developing economies • China’s Going Global – inbound and out bound investment to reach equilibrium Source: World Investment Report 2012 (UNCTAD)
Global Functions and Business Activities • Use aftercare to cross sell • Target different individuals in one company • Sell locational advantages of functions rather than just industry/sector opportunities
Startups – Economic Benefits • Significant driver of job creation and economic growth • Brings inspiration, innovation, ideas, talent and technology transfer to an economy • MNCs like to co-locate with startup communities • Social and online platforms enable startups to scale globally in very short period • InvestHK completed projects from startup entrepreneurs ----> 7% in 2009 ----> 11% in 2010 ----> 13% in 2011 ----> 14% in 2012
Partnership Approach • Multi-national organisations: WAIPA, UNCTAD and World Bank • International chambers, trade commissions and IPAs; MOUs with Chile, Brazil, Mongolia, Philippines • Mainland China IPAs: MOUs with the Ministry of Commerce, Hunan Province, and Invest Shenzhen • Public bodies: trade organisation, tourism board, stock exchange, science park, etc. • Private sector service providers: law firms, accounting firms, secretarial companies, etc.
Joint Promotion of Greater Pearl River Delta • Population 55.3 mn > Canada • Exports US$387 bn > UK, Canada (more than 27% of China’s exports) • GDP US$665 bn > Sweden, Belgium • Land area 56,000 sq km < Panama (less than 1% of China)
It’s a People Business • People make investment decisions – understand subjective drivers • Need relationship and account management skills rather than a one-off ‘sell’ • Drip feed – the right information at the right time • Good use of CRM and Social Media increasingly important.
Social Media – an investment promotion tool • Disseminating news and relevant information • Maintaining contact with key clients • Targeting decision makers through connections and introductions
WAIPA • Established 1995, WAIPA aims to improve cooperation amongst IPAs on a regional and global basis and facilitate the exchange of experiences in attracting FDI • 165 members from 122 countries • Objectives: • Promote and develop understanding and cooperation amongst IPAs • Strengthen information gathering systems and information exchange amongst IPAs • Share country and regional experiences in attracting investment • Assist IPAs to gain access to technical assistance and promotion training • Facilitate access to funding and other assistance • Assist IPAs in advising their respective governments in the formation of appropriate investment promotion policies and strategies. • Contact: Mr. Carlos Bronzatto, Executive Director (email: email@example.com)
Newly Elected Steering Committee www2.waipa.org