(EGM) Foreign Direct Investment in Southeast Asia - Unido

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thinkers and writers on FDI and matters related to FDI (see Annex 1 for a list of presenters and Annex 2 for a list of participants). The invited policy-makers and business leaders were affiliated to national institutions for policy and business, namely: boards of investments; investment promotion agencies; economic development agencies; economic and industry ministries of state; state planning departments; national and international chambers of business, commerce and industry. The EGM, supported by the Thai Board of Investment (BOI), was formally opened by the Secretary-General of BOI, Mr. Satit Sirirangkamanont. Mr. Jean-Marc Deroy, UNIDO’s representative in Thailand and Mr. Frank L. Bartels followed with opening statements on behalf of the Director-General of UNIDO, Mr. Carlos Magariños (see Appendices II, III and IV). 6
Preamble Within the constantly evolving framework of global investment and trade regulation, structural factors that determine the role played by multinational enterprises (MNEs) in the international economy have been undergoing realignment. This realignment, underway since the 1970s, has been accelerating in its manifestations away from a spatial distribution of production, and towards a redistribution of services traded across international boundaries. Notably, international contracting and supply relationships (‘offshore outsourcing’) have tended to be concentrated in the East and Southeast Asian economies, with these regions’ productive capacity serving much of the global economy. This ongoing realignment is a function of a combination of technological, information communication, manufacturing, and management advances which cumulatively serve to enable the various stages of production -- and tradable services -- to be increasingly disintegrated, reconfigured and relocated according to: i) the efficiencies of capital and labour on the one hand; and ii) on the other hand, the distribution of total factor productivity growth profiles of different countries (and even specific locations within countries). These stages of production are then re-integrated through MNEs’ own co-ordination and governance mechanisms, and international trade. This realignment occurs in a world that can be envisaged “as a grid of potential locations for value-adding activities, connected by flows of information and products” (Buckley and Hashai, 2004, p. 33). The value- adding activities -- which are predominantly controlled, co-ordinated and managed by MNEs -- are increasingly layered (or ‘nested’) inter-actions of FDI, FPI and international contracting, in manufacturing as well as services. The emergent pattern of realignment is not simply a result of increasing technological, finance, human capital and other resource differences between industrialised and developing countries. The quality of FDI and industrial policy craft -- and its implementation -- are also determining factors. 7
Page 3: Foreign Direct Investment in Southe
Page 6 and 7: Abbreviations and Acronyms ADB Asia
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 16 and 17: enchmark rankings should be one aim
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
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12.30-14.0 Lunch Plenary Discussion
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Appendix II: Opening Statement by t
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Appendix III: Opening Statement by
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and practitioners in other developi
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The themes of the EGM have been car
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Appendix V: EGM Working Paper EF Un
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ABSTRACT This working paper discuss
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In recent years, we have seen incre
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usiness domestically (improving int
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intra-industry trade, which account
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The agglomeration of markets and di
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These patterns are characterised by
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etween locations and maximises the
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ecome insiders and thus avoid being
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(iv) Those that relate to the “pu
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their indicators 50 of industrial p
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evolve more rapidly to account for
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changing morphology of MNEs with a
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92 Appendix I - Doing Business in A
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94 Appendix II - ASEAN Investment C
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96 Appendix III - Ranking of Econom
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Buckley P. J., Carter M. J., 2004,
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McKinsey & Company, 2003, New Horiz
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(EGM) Foreign Direct Investment in Southeast Asia - Unido

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