How resource rich countries attract foreign direct investments: a study of Western Asian countries and strategies of industrialization and diversification
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2015-10-27
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Costa, Ricardo Sarmento
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Fuel is a self-depleting resource and long term dependency on this commodity alone will not suffice. An export trade oriented approach can lead to faster industrialization while diversification leads to economic sustainable growth. This research seeks to understand how countries compete for foreign direct investments, and how certain activities have the most impact in the competitive global marketplace. Research suggests that when companies decide to invest abroad, they seek only to find countries that facilitate their strategic objectives. The results conclude with appropriate levels of government accountability, credibility and visibility with the private sector, foreign direct investment is attracted by policy advocacy and policy reform. By reviewing countries such as United Arab Emirates in direct comparison to Western Asian countries, including Kuwait and Iraq with high levels of fuel exports, along with Qatar with optimistic marketplace indicators and plentitude of skills and capabilities – research seems to suggest that despite high capabilities and attractive GDP, promotional investment activities yield the highest returns using policy advocacy and reform.
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Investment promotion agency IPA Policy advocacy Investment climate United Arab Emirates UAE Saudi Arabia Kuwait Iraq Qatar Oman Yemen Country competitiveness Industrialization National capability Technological capability Oil Fuel exports Resource curse Resource dilemma Developing nations West Asia Institutional capital Foreign direct investment