ATTRAZIONE E LOCALIZZAZIONE DI INVESTIMENTI INTERNAZIONALI: QUALI TENDENZE NEL MONDO?

Transcription

1 ATTRAZIONE E LOCALIZZAZIONE DI INVESTIMENTI INTERNAZIONALI: QUALI TENDENZE NEL MONDO? STRATEGIE PER CRESCERE: LA COMPETIZIONE IN EUROPA PER ATTRARRE INVESTIMENTI ESTERI E LE PRIORITÀ PER UNA POLITICA DI ATTRAZIONE INTERNAZIONALE IN TRENTINO andrea.goldstein@oecd.org

2 FDI inflows since 1997 US$ billion Source: OECD

3 FDI inflows up across all major economic groupings 51% Source: UNCTAD

4 Letterbox-company Economics 4

5 FDI outflows since 1997 US$ billion Source: OECD

6 Shares in global FDI outflows, by group of economies, Source: UNCTAD

7 M&A vs. greenfield FDI since 2007 (Billions of dollars) Source: UNCTAD

8 Sectoral distribution of FDI projects (Billions of dollars and per cent) Source: UNCTAD

9 Perception of the global investment climate, (Percentage of WIPS survey responses) Source: UNCTAD

10 Projections for 2013 and 2014 FDI to level off at $1.6 trillion in 2012, rising to $1.8 trillion in 2013 and $1.9 trillion in 2014, barring any macroeconomic shocks Source: UNCTAD

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12 Private equity firms

13 Shifting Wealth Emerging markets the place to be Favorable costs; rising productivity Generally young populations Slowly shifting to reliance on domestic demand Competitive multinational companies Rich countries Slower growth Battered financial sectors Fiscal austerity Poor demographics 13

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15 The rise of emerging multinationals 15

16 Sovereign wealth funds (SWFs) SWFs as FDI actors roughly $5 trillion in assets under management cumulative FDI of only $125 billion to date of which 75% in industrial countries Significant future potential long-term and strategically oriented investment outlook large scale holdings well placed to invest in productive activities and infrastructure

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18 Major obstacles for investors (% of respondents) Source: Multilateral Investment Guarantee Agency 18

19 A medium-term attractiveness strategy Improve the fundamentals for addressing old challenges: Economic and political stability Physical and institutional infrastructure Business environment and investment climate Broaden the views for benefiting from FDI: Embed FDI policy in the national/regional development strategy Emphasize quantity and quality, economic and social impacts Adopt sound strategies for grasping new opportunities: Industrial relocation due to rising production costs elsewhere Targeting: key industries lead firms piloting projects 19

20 Competitiveness Analysis and Investment Policy SECTOR/INDUSTRY ANALYSIS DETERMINANTS OF COMPETITIVENESS APPROPRIATE ROLE FOR GOVERNMENT Industry trends Market trends Price trends Competition and ownership policy Links to national/global supply chains Technological trends Global policy trends (WTO, EU-US FTA) Price Factors Factor costs Input costs Finance availability/cost Transaction costs Productivity Factors o Skills o Innovation o Management o Infrastructure Taxes and customs duties Investment law Non-tariff barriers Utilities service Regulatory barriers Market structure Competition policy Factor market rigidities Price controls/subsidies Product quality standards Risk 20

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22 Actions information to foreign firms to help them: Incorporate a business in the U.S. Understand basic U.S. tax and legal concepts Learn about incentives available to businesses in the U.S. Connect with U.S. state, city, or regional economic development offices to learn about investment opportunities Apply for a business-related visa 22

23 Ombudsman functions 23

24 Pro-active outreach 24