Nation sustainability and future economy depends on the nation competitiveness to attract foreign investment by providing a legal, business friendly environment, offer a world class education system to provide graduates the future need, and ideally a local market (else, competitive enough for the export), politically stable and committed for professionals in the government.
Like it or not, multinational corporations (MNC) in aggregate remain one of the important variables for most of the nation needed to attract, whether to set up regional headquarters or invest for manufacturing plants and hiring local laborers. Purely national resources alone will not be the factor couple decades before be the only variable they will consider to invest in one country, rather than another.
For the United Nations (UN) recent release list of foreign investment, you can see who is the winner to attract massive of the foreign investment into the specific nation. If you until now still do not know what it can transform the nation, you can see how China is rising to be the second economy entity in the world, aka world factory.
We are now living in connected worlds via digital infrastructure. We can very easily access various national news and get insight into what they are doing. One of the best insights is to go to see the parliament members how they are communicating, and discuss the national matters. You can get insight for the overall quality of the nation, become parliament is the nutshell and represent the state of the current government reality. I will usually listen for the topic that is being raised and question, and I saw how it was answered. Whether it is being able to answer professionally and knowing about what they are talking about. Strong economy is always backed by a strong government, who know what the people need and do what is necessary for their people.
It is the same as how we saw a business performance, are they acting in the best interest for the customer? Does their workforce have the attitude to serve customers and act the best way for the customer problem and offer solutions? Do not underestimate the market, it is always dynamic in nature. This is why even when 1980s Tom Peters published the books in search for the excellence, the 10 excellence companies in the list as the case, most of them already long falling, because once you are not more upskilling or resskilling for the market want, and continue to provide value, market shift. It is the same, in order to attract foreign investment, you need to be in the eye of the foreign investor. We provide overall value in their eyes. From the UN list of foreign investment where it goes, it is just a beginning, what we can expect is the shift of the world economy as the reason after a few years.
If you are not at the top of the list, then what you need to be doing is studying why you are not and what you can do to improve in the value creation for the nation. Michael Porter once wrote in the book competitiveness of the nation, it is about value creation that matters.
Nation sustainability is relative, when one nation is performing relative better than the rest, they gain competitiveness in the nation, and it will start to fuel and accelerate a lot of changes and become a growth engine for the nation. Nation’s future depends on the government’s will that state of mind to drive the future economy for the nation.
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