I’m writing and recording the video lessons for the new Economic Development Community of Practice I’m launching later this year over at economicdevelopment.world
One of the issues that causes me endless frustration is that many localities in the UK fail to get beyond the basic position of putting out a webside or adverts and waiting for the phone to ring.
๐๐ป ๐ฎ๐ฌ๐ฎ๐ฏ ๐๐น๐ผ๐ฏ๐ฎ๐น ๐๐๐ ๐๐ผ๐๐ฎ๐น๐น๐ฒ๐ฑ ๐จ๐ฆ๐ ๐ญ.๐ฏ๐ฏ๐ฎ ๐๐ฟ๐ถ๐น๐น๐ถ๐ผ๐ป!
In today’s fiercely competitive landscape, attracting Foreign Direct Investment (FDI) demands a proactive, sophisticated approach. It’s time to evolve beyond basic adverts and embrace these key attitudes and actions:
๐ฆ๐ต๐ถ๐ณ๐ ๐ณ๐ฟ๐ผ๐บ ๐ฃ๐ฎ๐๐๐ถ๐๐ฒ ๐๐ผ ๐๐ฐ๐๐ถ๐๐ฒ ๐ ๐ฎ๐ฟ๐ธ๐ฒ๐๐ถ๐ป๐ด: Don’t just wait for inquiries! Proactively engage at trade and investor events, and seek out opportunities to tell your story.
๐๐๐ถ๐น๐ฑ ๐ฎ๐ป ๐๐ ๐ฒ๐ฐ๐๐๐ถ๐๐ฒ ๐ฅ๐ฒ๐๐ฝ๐ผ๐ป๐๐ฒ ๐ง๐ฒ๐ฎ๐บ: Replace loose networks with a coherent, professional team dedicated to managing investor relations and handling inquiries swiftly and effectively.
๐๐ฟ๐ฎ๐ณ๐ ๐ฎ๐ป ๐๐ฐ๐๐ถ๐๐ฒ ๐๐ฟ๐ฎ๐ป๐ฑ ๐๐ฒ๐๐ถ๐ด๐ป: Move past generic branding. Develop a targeted brand that highlights your unique strengths and resonates with specific market segments you aim to attract.
๐๐ผ๐ฐ๐๐ ๐ผ๐ป ๐ฅ๐ฒ๐๐ฒ๐ป๐๐ถ๐ผ๐ป & ๐ฅ๐ฒ-๐ถ๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐: The “long game” of FDI means nurturing existing relationships. It’s often easier to secure follow-on investments from successful firms already in your region.
๐๐ฒ๐๐ฒ๐ฟ๐ฎ๐ด๐ฒ ๐ง๐ฒ๐ฐ๐ต๐ป๐ผ๐น๐ผ๐ด๐ & ๐๐ป๐๐ฒ๐น๐น๐ถ๐ด๐ฒ๐ป๐ฐ๐ฒ: Embrace modern tools\! Think LinkedIn mining for contacts, AI for identifying target companies, and comprehensive, instantly accessible site inventories to respond rapidly to investor needs.
๐๐๐ ๐ถ๐ ๐ฎ ๐น๐ผ๐ป๐ด ๐ด๐ฎ๐บ๐ฒ that requires high capacity, professionalism, and expertise.
By adopting these strategies, you can significantly enhance your region’s ability to attract and retain valuable investments, driving economic growth and prosperity!
I’m looking forward to getting expert input from the global experts on FDI as part of the podcast series that will begin when we launch Economic Development World.
#FDI #InwardInvestment #EconomicDevelopment #InvestmentAttraction #GlobalCapital
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