(EGM) Foreign Direct Investment in Southeast Asia - Unido

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enchmark rankings should be one aim of policy-makers and investment promotion agencies (IPAs). But more importantly, as it is virtually impossible to move up across all rankings simultaneously, it is the judicious selection of nationally relevant variables from among the benchmarks -- and their significance in attracting FDI -- that should be the focus of attention by policy-makers and IPAs. In this sense, the encouragement from Peter Buckley to “look behind the figures”, to see what could and should be changed, was welcome. Commentary and discussion Brian Caplen noted that roughly three quarters of world trade is now conducted within MNEs (i.e. shipping goods from one part of a transnational firm to another) and their global factory. The challenge for policy-makers is how to insert their country into this global factory, at a time when we are also moving towards a more rules-based approach to trade in goods and services, as a result of World Trade Organization (WTO) and other bodies. East Asia’s track record in responding to past challenges is fairly impressive, as evidenced by the far-sighted policies enacted by Singapore to attract FDI in the 1960s and 1970s, when it went against conventional thought. East Asia was also the first region to embrace outsourcing, initially in the textile industry. Looking ahead, the rise of ‘virtual companies’ poses new challenges for most countries in Southeast Asian countries and beyond, as does the competitive ‘pull’ exerted by China. Possible responses include diversification and specialisation, along a narrow range of specific comparative advantages, typically stemming from specific technological or innate skill advantages. The increasing value of a “level playing field” for both domestic and foreign investors was also underscored as being important. One constant is MNEs’ need for consistency and transparency in policy- making by host countries, and an aversion to gratuitous bureaucracy and red tape (which are often associated with corruption). For firms involved in production or services at the higher end of the value chain, the general 14
quality of life in a country can be essential in attracting the necessary talent, and therefore is an important determining factor in locating an investment. The provision and quality of after care service for investors (i.e. assistance provided by the IPA to an MNE, after the initial investment has been made) can also be an important determinant, notably in terms of reinvestment by existing investors. In Thailand, for example, the Board of Investment (BOI) has introduced a trouble-shooting unit, to assist foreign investors with any problems that they may subsequently encounter. Looking ahead, in-depth analyses of what countries did best in relation to the strategies of regional neighbours resonates with international best practice in pro-FDI policy craft. 15
Page 3: Foreign Direct Investment in Southe
Page 6 and 7: Abbreviations and Acronyms ADB Asia
Page 8 and 9: thinkers and writers on FDI and mat
Page 10 and 11: The realignment of structural facto
Page 12 and 13: Recent years have seen increasing c
Page 14 and 15: overlap according to production pro
Page 18 and 19: Theme 2 FDI and National Experience
Page 20 and 21: ‘pipeline’ of harmonising legis
Page 22 and 23: major determinant of success. This
Page 24 and 25: and viii) general foreign investor
Page 26 and 27: Investment policy craft -- creating
Page 28 and 29: policies, as they would treat forei
Page 30 and 31: It appears that the advantages and
Page 32 and 33: seeking to attract FDI? Examining t
Page 34 and 35: attractiveness of the region to inv
Page 36 and 37: Theme 4 FDI and the China Dimension
Page 38 and 39: greater regional collaboration, the
Page 40 and 41: The increasing significance of outs
Page 42 and 43: aise their own finance like any oth
Page 44 and 45: Notwithstanding the dynamics of ris
Page 46 and 47: The logistics of the UNIDO ITPO Del
Page 48 and 49: no longer be an appropriate indicat
Page 50 and 51: FDI lens. Consequently, some IPAs h
Page 52 and 53: Select References Bartels F.L. and
Page 54 and 55: Annex 2: Participants at the EGM Co
Page 56 and 57: Appendix I: Thematic Programme of t
Page 58 and 59: 12.30-14.0 Lunch Plenary Discussion
Page 60 and 61: Appendix II: Opening Statement by t
Page 62 and 63: Appendix III: Opening Statement by
Page 64 and 65: and practitioners in other developi
Page 66 and 67:
The themes of the EGM have been car
Page 68 and 69:
Appendix V: EGM Working Paper EF Un
Page 70 and 71:
ABSTRACT This working paper discuss
Page 72 and 73:
In recent years, we have seen incre
Page 74 and 75:
usiness domestically (improving int
Page 76 and 77:
intra-industry trade, which account
Page 78 and 79:
The agglomeration of markets and di
Page 80 and 81:
These patterns are characterised by
Page 82 and 83:
etween locations and maximises the
Page 84 and 85:
ecome insiders and thus avoid being
Page 86 and 87:
(iv) Those that relate to the “pu
Page 88 and 89:
their indicators 50 of industrial p
Page 90 and 91:
evolve more rapidly to account for
Page 92 and 93:
changing morphology of MNEs with a
Page 94 and 95:
92 Appendix I - Doing Business in A
Page 96 and 97:
94 Appendix II - ASEAN Investment C
Page 98 and 99:
96 Appendix III - Ranking of Econom
Page 100 and 101:
Buckley P. J., Carter M. J., 2004,
Page 102 and 103:
McKinsey & Company, 2003, New Horiz
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(EGM) Foreign Direct Investment in Southeast Asia - Unido

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