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1、THE NEWLAWS OF FDIATTRACTIONHOW TO ATTRACT,MEASUREAND SUSTAIN QUALITY FDI2 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Welcome to the 2023 IPA Innovation Report.As FDI professionals we have all witnessed investment dynamics going through deep transformations over the past years.Recent events such as the

2、war in Ukraine,the energy crisis,and inflation,have only accelerated the pace at which FDI is evolving and reshaping.But what does that mean for Investment Promotion Agencies(IPAs)?The OCO Global-World Association of Investment Promotion Agencies partnership has allowed us to survey 74 IPAs from aro

3、und the world to learn how they are responding to these changes.This global reach has allowed us to take in different perspectives across every continent from national agencies,regions,and cities.Our respondents have reported a transformation in the global economy over the last few years,and the fut

4、ure remains one of uncertainty and complexity.This is the challenge for IPAs,and as our new research shows,it is a challenge that is already fundamentally changing how they make strategic decisions and operate.While budgets and staffing are stretched,the investment process is becoming increasingly r

5、esource intensive.IPAs are not only dealing with more demanding investors,but policy choices towards quality over quantity require additional work to source and secure the best projects.Talent is now well and truly part of investment promotion and we have discovered how more IPAs are developing tale

6、nt attraction strategies to complement their existing work.The role of cities and their collaboration with companies,universities and national IPAs-is likely to become crucial to address the talent attraction challenge.Technology and AI have already revolutionised much of the worlds economy.But,with

7、 a few exceptions,we found IPAs are still behind the curve.The most successful IPAs in the future will be those able to leverage technology and AI across the whole investment attraction cycle.But how can IPAs demonstrate they are making a difference?There is no doubt that most agencies are proactive

8、ly seeking better opportunities linked to environmental and social goals.But it is also clear that no one is using the same performance indicators,sometimes not even the same definition of quality FDI.How can we sustain high quality FDI if we cant measure it?If we cant compare it?If we dont speak th

9、e same language?Our research shows that the future of FDI requires a refining-sometimes a reset-of strategies,operating models,and performance indicators for IPAs.OCO Global and WAIPA are committed to bringing solutions to these critical challenges.FDI attraction isnt always about competition.What i

10、s needed to make progress is a collaboration between IPAs,to share the most innovative practices and help facilitate FDI projects that benefit everyone.Thats what the OCO WAIPA IPA Innovation report is about,and wed like to send our gratitude to the 74 respondents who helped make this happen.Forewor

11、dGareth HaganCEO,OCO GlobalIsmail ErsahinCEO,WAIPAMETHODOLOGY OCO GLOBAL-WAIPA INNOVATION REPORT 2023 374 IPAs responded to an online survey designed by OCO Global and WAIPA and administered between November 2022 and March 2023.Respondent profiles were typically CEOs,Head of Invest and Head of strat

12、egy and IPA management from Investment Promotion Agencies.The survey focused on challenges Investment Promotion Agencies(IPAs)are facing in the long and medium term and how they respond and adapt to these challenges.Results were complemented by a series of in-depth interviews and client conversation

13、s.The survey covered all continents and provided a balanced sample of national and regional/city level IPA.REGION%Europe44%Middle East&Africa23%North America16%Asia Pacific11%Latin America&Caribbean6%TYPE OF IPA%National44%Regional/city56%Source:OCO Global WAIPA Innovation Report 2023 74 respondents

14、44%23%16%11%6%4 OCO GLOBAL-WAIPA INNOVATION REPORT 2023KEY FINDINGSFROM OUR SURVEY OCO GLOBAL-WAIPA INNOVATION REPORT 2023 56 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Reminder of the new FDI context:What we hear from our clientsBig macro events are dominating the agendaWhich have created shockwaves in

15、 the global economyInvestors priorities have shiftedAs have countries Supply chain disruptions Energy crisis Inflation Higher interest rates Talent shortages Need for decarbonisation Supply chain diversification Shift from Just-in-Time to Just-in-Case logistics Access to talent Technology spread Bus

16、iness planning Margin protection Energy security Geopolitical alignment Protection of critical industries Attracting scarce talent into tight labour markets Transition to renewables Pandemic Trade tension between the US and China Ukraine war impact Post-Brexit adjustments Instability in MENA countri

17、esHow are IPAs responding to these changes?IPAs are facing challenges across three main areas:Global uncertainty is damaging investors confidence and slowing down or delaying FDI plans(29%)IPAs organisational structure and FDI strategy need a refresh,sometimes a reset(27%)Limited resources prompt a

18、need for innovative marketing and promotion strategies and tools(23%)OCO GLOBAL-WAIPA INNOVATION REPORT 2023 7Source:OCO Global WAIPA Innovation Report 2023 74 respondents59%46%37%51%YES 75%NO 25%IPAs response:A strategic shift towards Quality FDIHave you developed aspecific strategy to attract qual

19、ityFDI projects(vs.quantity)?Quality FDI is a project thatBrings innovative technologyCreates morequalified jobsIn strategicsectorsFills a gap in local or regional value chain8 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Source:OCO Global WAIPA Innovation Report 2023 74 respondents OCO GLOBAL-WAIPA INNOV

20、ATION REPORT 2023 9Whats on IPAs agenda for 2025?86%of IPAs are looking to source new FDI opportunities from the regionalisation of value chains The most cited strategic sectors for FDI attraction are energy(85%),digital(81%),health(45%)and advanced manufacturing(45%)Digital tools are well adopted f

21、or image building(56%of respondents)But digital adoption is still behind the curve on some strategic areas such as investor targeting(42%),market intelligence(39%)and aftercare(23%)49%of IPAs have developed a talent attraction strategy,in addition to investment attraction strategy.This new positioni

22、ng surges to 80%for city IPAs The most wanted talent is in the Software&IT sector(73%of respondents),followed by healthcare(58%)and advanced manufacturing(53%)51%of IPA respondents state that they have changed their FDI strategy to comply with sustainable development goals But only 36%are actually m

23、onitoring the environmental and social impact of FDI projects A consistent trend across IPAs in all regions was the gap between the pursuit of quality FDI and the lack of monitoring for those projects For example,59%of respondents stated that quality FDI means fostering innovation,while only 30%are

24、currently using innovation as a KPI to monitor progressFind newFDI opportunitiesImprove digital adoptionThink beyondFDI projectsand attract talent Contributeto sustainabledevelopment goalsMonitorqualitySource:OCO Global WAIPA Innovation Report 2023 74 respondents10 OCO GLOBAL-WAIPA INNOVATION REPORT

25、 2023HOW IPAS AREADAPTING TO THENEW FDI CONTEXT OCO GLOBAL-WAIPA INNOVATION REPORT 2023 1112 OCO GLOBAL-WAIPA INNOVATION REPORT 2023IPAs are being challenged onfive key levers of investment attractionWhat are the three biggest challenges your organization is currently facing?Open-ended question.Perc

26、entage of all respondentsREPORTED CHALLENGES%REGIONS MOST AFFECTED1Global economic uncertainty is reducing investor confidence29%Asia-Pacific /Europe /Middle East&Africa2IPAs organisational structure&strategy is not optimal27%Latin America /North America3Limited resources prompt a need for innovativ

27、e marketing and promotion strategies and tools23%Latin America /Middle East&Africa4Key areas/sectors have a shortage of talent21%Europe /Asia Pacific5There are not enough quality sites for investors18%EuropeSource:OCO Global WAIPA Innovation Report 2023 74 respondentsYES 75%NO 25%59%46%37%51%OCO GLO

28、BAL-WAIPA INNOVATION REPORT 2023 13There is a shift to recognising the value of quality over quantityHave you developed aspecific strategy to attract qualityFDI projects(vs.quantity)?What defines quality?When asked to define what quality FDI meant,the four most common responses were:Three quarters o

29、f respondents have developed a strategy to attract“quality FDI projects”(as opposed to looking only for quantity)This is consistent across all regions,ranging from 55%in North America to 82%in Europe IPAs representing cities stand out as the leader in quality FDI strategies.All respondents stated th

30、ey had a strategy compared to 74%at national level and 63%at a regional levelInnovative FDI projects with a strong technology elementFDI projectcreating qualityjobsFDI projects in strategic sectors for the country or regionFDI projects filling a gap in the local value chainSource:OCO Global WAIPA In

31、novation Report 2023 74 respondents14 OCO GLOBAL-WAIPA INNOVATION REPORT 202314 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Case studyHow Business France has adapted to the new challenges of FDIMarie-Cecile Tardieu Director GeneralBusiness FranceBusiness France are focussed on the internationalisation of

32、 the French economy,and are responsible for both inward investment and exporting.Two words that summarise our last few years are uncertainty and competition.Recent significant shocks such as COVID-19 and the energy crisis,are making it ever more difficult to foresee where the next challenges will co

33、me for companies in the value chain,and where Business France can help.At the same time there are more agencies than ever competing for that investment and they are very active in addressing the needs of investors.OCO GLOBAL-WAIPA INNOVATION REPORT 2023 15In response,Business France has had to becom

34、e more efficient and is turning to digital solutions.These include the ability to better connect the agencies,investors,and local regions,and developing tools to increase their ability to transact with investors in secure data exchange rooms.The other major challenge is supporting the shift towards

35、a green economy.Not only is Business France looking to attract investment that could provide the transformative green technologies,but it is also changing how it assesses any investment.Now,there is more awareness of issues such as land use,energy consumption,and water consumption.A critical questio

36、n on the shift to more sustainable environment is how to make sure this is a genuine green investment and not greenwashing?Overcoming this has involved developing a set of questions Business France want to ask investors to decide how green is their investment.This helps to get a better decision of h

37、ow green the investment is,but will also provide useful information on whether there is something they can do to make it more sustainable.For example,changing road transport to rail transport,or brownfield instead of greenfield.In this way Business France is positioning itself to better understand w

38、hat quality investment looks like and demonstrate how they are making a contribution to the governments goal of quality and green growth.16 OCO GLOBAL-WAIPA INNOVATION REPORT 2023 OCO GLOBAL-WAIPA INNOVATION REPORT 2023 17MonitoringQualityLeveraging Digital InnovationInvestment and Talent PromotionA

39、ddressing ESG ObjectivesWHAT IS AT THE TOP OF IPAS AGENDASourcing New FDI Opportunities18 OCO GLOBAL-WAIPA INNOVATION REPORT 2023 Energy(85%),digital(81%),health(45%)and manufacturing(45%)are the most commonly cited“sectors of the future”,suggesting a deep transformation of foundational industries a

40、nd a spread of technology across all sectors The results reflect the context in which IPAs must work:the major transformations of the twenty-first century in energy and digital;shifting patterns of manufacturing away from low-cost production;and increasing value of health security These were the top

41、 four sector groupings across all regionsEnergy 85%(63)Digital 81%(59)Health 45%(34)Adv.Manufacturing 45%(34)Mobility 34%(25)Food&AgriTech 29%(21)Connect 19%(14)FinTech 12%(9)Cleantech/GreenTech(35)|Energy(19)|Hydrogen(9)AI(21)|IT/Digital(19)|Cybersecurity(9)|Quantum(7)|Metaverse(3)Life sciences(18)

42、|Healthcare(12)|MedTech(4)Manufacturing(15)|Materials(6)|Electronics(7)|Robotics(4)|Chemicals(2)Mobility(15)|Air mobility(4)|EV(3)|Aerospace(2)|Space(1)IoT(9)|5G(2)|Other(5)The sectors of the future:Back to fundamentals!Sourcing NewFDI OpportunitiesWhat are,according to you,the“sectors of the future

43、”?Percentage of all respondents(number of responses)Source:OCO Global WAIPA Innovation Report 2023 74 respondentsYES 86%NO 14%OCO GLOBAL-WAIPA INNOVATION REPORT 2023 19Energy 85%(63)Digital 81%(59)Health 45%(34)Adv.Manufacturing 45%(34)Mobility 34%(25)Food&AgriTech 29%(21)Connect 19%(14)FinTech 12%(

44、9)Cleantech/GreenTech(35)|Energy(19)|Hydrogen(9)AI(21)|IT/Digital(19)|Cybersecurity(9)|Quantum(7)|Metaverse(3)Life sciences(18)|Healthcare(12)|MedTech(4)Manufacturing(15)|Materials(6)|Electronics(7)|Robotics(4)|Chemicals(2)Mobility(15)|Air mobility(4)|EV(3)|Aerospace(2)|Space(1)IoT(9)|5G(2)|Other(5)

45、IPAs are looking for new FDI opportunities out of the regionalisation of value chainsAre you proactively seeking newinvestment opportunities from the regionalisation of value chains?Almost nine out of ten(86%)of respondents are proactively seeking investment opportunities from the regionalisation of

46、 value chains This trend helps explain why manufacturing was rated as the third most important sector of the future,and manufacturing talent as the second most important talent attraction sector While the majority of respondents were looking to take advantage of regionalisation,this will mean differ

47、ent things to different IPAs In Latin America and Caribbean IPAs are targeting US companies looking to take advantage of lower costs,strong logistics,and free trade agreements Meanwhile in Europe,the supply chain issues caused by the global pandemic have focussed attention primarily on greater contr

48、ol of strategic industries such as semiconductors and pharmaceuticals.But the type of manufacturing being attracted is more high value/low impact activities around digitalisation and automationSource:OCO Global WAIPA Innovation Report 2023 74 respondentsSourcing NewFDI Opportunities20 OCO GLOBAL-WAI

49、PA INNOVATION REPORT 202320 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Case studyFor the Investment Office of Trkiye,regionalisation is an opportunity that spans the value chainSamet Akyuz Strategy&Corporate Planning Manager Invest In TrkiyeThe main mandate of the Investment Office of Trkiye is to attra

50、ct international investors into Trkiye,with services provided before,during and after their investment.We have two offices in Trkiye and have representatives in 14 countries providing services to international investors in 10 languages.A key trend for the region is the reconfiguration of the global

51、value chains and regionalisation of global production.This has resulted in a steep increase in relocation projects,with logistics proximity,logistics speed and resilience becoming of much more importance than price factors.OCO GLOBAL-WAIPA INNOVATION REPORT 2023 21Like most countries,Trkiye is tryin

52、g to attract new investors and encourage expansion of existing investors.But the Investment Office of Trkiye is also looking at the opportunities further along the supply chain.While developing our national FDI strategy we discovered that almost half of existing investors are working towards relocat

53、ing their suppliers to Trkiye.This became a second function of aftercare,to support investors to move their suppliers here.We were also aware of the need to increase the capacity of the local suppliers and we have started developing policies and tools to increase the capabilities of domestic compani

54、es.This includes improving the relationships with existing international investors and Trkiye is developing incentives to boost backwards-forwards linkages as well as knowledge sharing.In order to benefit from shortening or regionalising of global value chains it is essential to have a robust logist

55、ics infrastructure and the Investment Office for Trkiye is playing a key role in attracting strategic financing investment.We have set up a separate and independent Public Private Partnership(PPP)department which is responsible for PPP projects in logistics and other infrastructure investments.The i

56、ncentive for Trkiye is quality investment as the sectors attracted by changes in the global value chain have higher employment creation potential that can open up high value opportunities for our people.22 OCO GLOBAL-WAIPA INNOVATION REPORT 202322 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Case studyHow

57、 donors and IPAs can work togetherUyi Idahosa Senior Investment OfficerIFCIFC is a part of the World Bank group and our mandate is to promote private sector investment in emerging markets or non-OECD markets.This can involve multiple financial instruments from equity to debt,and everything in betwee

58、n,alongside technical support such as market and environmental studies.Currently the IFC invests around$30bn annually but our goal is to grow that over the coming years to become a$50bn plus financier by 2030.OCO GLOBAL-WAIPA INNOVATION REPORT 2023 23The extent to which regionalisation is rising up

59、the IFCs agenda can be seen in our own organisational changes-moving more staff out into regional positions to be closer to clients and where these projects are happening.While the IFC is regionalising its own operations,it cannot have people in every country trying to connect with opportunities as

60、they evolve.For that reason,IPAs as immensely valuable as they are often the first port of call when investors are looking to enter a new market or make investment in a place they havent invested in before.Building a relationship with financiers such as the IFC is a win-win for both parties.For the

61、financier,IPAs play a key role in screening and identifying companies,categorising them into scalable,meaningful projects,and then connecting them with financiers such as the IFC.In return,IPAs can significantly improve their offer to investors through an enhanced relationship with the financier tha

62、t goes beyond simply capital.This could include co-funding market or environmental studies,bringing in environmental and social experts,and connecting them to partners in their existing portfolio that might be interested in joint ventures.24 OCO GLOBAL-WAIPA INNOVATION REPORT 2023IPAs are extending

63、their targeting to financial investors Around half of respondents were covering Venture Capital and Private Equity for domestic start-ups as part of their investment promotion activities Cities and regions were marginally more likely to be covering these areas.This was driven mainly by the city IPAs

64、 who responded to this survey.These respondents represent global economic centres and it is not surprising that they well ahead for VC/PE activity Less than half of respondents(41%)were covering Merger&Acquisition opportunities as part of their investment promotion activities National agencies were

65、most likely to be involved in M&A activities,although this was still only 52%of respondents from national agenciesPercentage of respondents covering Venture Capital/Private Equity and Mergers and AcquisitionsSource:OCO Global WAIPA Innovation Report 2023 74 respondents56%Networking/Community mangeme

66、ntData collection/Market intelligenceAssistance toproject implementationAftercareTo a great or very great extentTo some extent or lessImage buildingInvestor outreachInvestor targeting44%47%53%42%58%39%61%39%61%27%73%23%77%Mergers&AcquisitionVenture Capital/Private EquityCity&RegionNationalAll36%56%5

67、2%52%41%53%Sourcing NewFDI OpportunitiesDigital innovation is still underleveraged IPAs are typically adopting digital practices that have been common in other industries digitising their processes,remote/flexible working and digital marketing Digital tools are well adopted for image building(56%of

68、respondents)and investor outreach(47%)But IPAs remain behind the curve on some key areas and not yet leveraging the full potential of digital tools in the following key activities:-Investor targeting(only 42%).-Market intelligence(only 39%of IPAs)-Community management(only 39%of IPAs)-Aftercare(only

69、 23%of IPAs)To what extent are you leveraging digital tools for the following activities?Source:OCO Global WAIPA Innovation Report 2023 74 respondentsLeveraging Digital Innovation56%Networking/Community mangementData collection/Market intelligenceAssistance toproject implementationAftercareTo a grea

70、t or very great extentTo some extent or lessImage buildingInvestor outreachInvestor targeting44%47%53%42%58%39%61%39%61%27%73%23%77%OCO GLOBAL-WAIPA INNOVATION REPORT 2023 2526 OCO GLOBAL-WAIPA INNOVATION REPORT 202326 OCO GLOBAL-WAIPA INNOVATION REPORT 2023AI is expected to have a significant impac

71、t on investment attraction and FDI strategies in the future.Here are some ways AI can influence and enhance these areas:Data Analytics:AI-powered data analytics can help investment promotion agencies(IPAs)and policymakers analyze vast amounts of data to identify investment trends,market opportunitie

72、s,and target industries.AI algorithms can process large datasets and extract valuable insights,allowing IPAs to make informed decisions when formulating FDI strategies.How will AI impact investment promotion and strategies in the future?Chat GPTs opinion OCO GLOBAL-WAIPA INNOVATION REPORT 2023 27Tar

73、geted Marketing and Lead Generation:AI can assist IPAs in identifying potential investors and target markets more effectively.By leveraging machine learning and natural language processing,IPAs can analyze various data sources,including online platforms,social media,and industry reports,to identify

74、and engage with potential investors.AI can also help personalize marketing messages and campaigns based on investors preferences and needs.Investment Opportunity Screening:AI algorithms can help IPAs screen and evaluate potential investment opportunities more efficiently.By analyzing various paramet

75、ers such as market conditions,financial data,industry trends,and risk factors,AI can assist in identifying promising investment projects and filtering out less viable options.Investor Assistance and Support:AI-powered chatbots and virtual assistants can enhance the support provided to potential inve

76、stors.These AI systems can answer investor queries,provide information on investment procedures,regulations,and incentives,and guide investors throughout the investment process.This can improve the overall investor experience and streamline the investment attraction process.Risk Assessment and Predi

77、ctive Modeling:AI can assist IPAs in assessing investment risks and predicting market trends.Machine learning algorithms can analyze historical data,economic indicators,geopolitical factors,and other relevant variables to identify potential risks and forecast investment outcomes.This can help IPAs m

78、itigate risks and make informed decisions when developing FDI strategies.However,its important to note that while AI offers significant potential,it also raises ethical and policy considerations.Ensuring data privacy,addressing algorithmic biases,and maintaining human oversight in decision-making pr

79、ocesses are crucial aspects that need to be carefully managed when integrating AI into investment attraction and FDI strategies.Leveraging Digital Innovation28 OCO GLOBAL-WAIPA INNOVATION REPORT 202328 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Case studyHarnessing the power of AI to find insights in yo

80、ur CRMPilar Madrigal Investment Advisory Director CINDEThe Costa Rican lnvestment Promotion Agency,CINDE,is a private,non-political,and non-profit organisation that has advised and guided over 400 high-tech companies to establish in the country.For us,AI is about the analysis of data and we have ben

81、efited from measuring data for a good ten year through a CRM system that includes around 80 data points for every project,lead and opportunity that comes into the organisation.Armed with that amount of data we have been able to use machine learning to analyse performance and focus strategies on what

82、 has been effective.OCO GLOBAL-WAIPA INNOVATION REPORT 2023 29For example,our analysis discovered that their strongest source of leads comes from the website,and we have worked hard to understand the user experience and the type of information potential investors are gathering.This also led us to un

83、derstand what would resonate with potential investors in their digital advertising.On top of this we have been able to automate digital advertising workflows to leverage multiple scenarios and match advertising messages to specific companies.Taking the analytics a step further,we have been working o

84、n developing a predictive analytics model using all our data on project type and size combined with information on companies,geographies and timelines.The data can be run for 800,000 multinationals around the world to compare different scenarios and identify the most promising future leads based on

85、analysis of over ten years of data.However,AI and analytics is only one part of the equation as we recognise that you can they can have as many digital strategies and tools as you want,but ultimately it is the human talent that talks to those companies that is exactly what is needed to make that pro

86、ject materialise.YES 49%NO 51%Talent attractionis moving up the IPA agendaHave you developed atalent attraction strategy,in additionto investment attraction strategy?Just under half of respondents(49%)had developed a talent attraction strategy,in addition to investment attraction strategy The growin

87、g importance of talent is demonstrated by the fact that only 5%of respondents identified it as having an impact in the previous five years,compared to 18%who consider it a challenge now.It is likely that the battle for talent will only intensify in the future as it becomes more of a priority Talent

88、attraction is a more significant issue for cities where around 80%of city respondents had developed a talent attraction strategy.While city respondents were only a small sample they were large cities that typically attract the highest proportion of talent.Compelling trends in these locations are wor

89、th the attention of other IPAs While it may be difficult to compete with the draw of global cities,many IPAs are adopting different strategies to attract talent.For example,they are making greater use of Placemaking to develop their brand,or emphasising the quality of life advantages of areas with a

90、ccess to open spaces and nature but strong infrastructure30 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Investment andTalent PromotionSource:OCO Global WAIPA Innovation Report 2023 74 respondentsThree strategic sectorsfor talent attractionSource:OCO Global WAIPA Innovation Report 2023 74 respondentsIT/So

91、ftware 73%Healthcare 58%Adv.Manufacturing 53%Energy&Environment 44%Agri-food 41%Creative Industries 36%Financial&Professional Services 25%Mobility 25%Investment andTalent PromotionWhat sectors are you focusingon for talent attraction?(multiple options)Nearly three quarters of respondents(73%)were fo

92、cussed on attracting Software and IT talent.This is significantly more than any other skill set,recognising the enabling nature of technology across most sectors The other skills in demand by more than half of all respondents were healthcare(58%)and advanced manufacturing(53%)Although energy was the

93、 leading sector of the future,less than half of the respondents were focused on attracting energy and environment talent.This is understandable,as IT and software are the drivers of change in the energy industry The fact that most sectors will be trying to attract IT/Software talent will only add to

94、 the battle for talent mentioned earlier,and increase the urgency to secure the required talent OCO GLOBAL-WAIPA INNOVATION REPORT 2023 3132 OCO GLOBAL-WAIPA INNOVATION REPORT 202332 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Point of view on talent attraction:the oven and microwave approachSteve Duncan

95、 Digital marketing expert CEO of C Studios Globally,companies are struggling with skills and labour shortages,posing an immediate threat to economic growth.Even regions that were once able to tout lower employee turn-over,lower wages and untapped talent pipelines are not immune,tampering growth and

96、productivity potential everywhere.Strategic messaging has shifted from what skills and talent a country or region already has to more about what government is doing to support the private sector.International study programmes are no longer enough on their own;investment promotion agencies must addre

97、ss short-term and long-term talent demand.OCO GLOBAL-WAIPA INNOVATION REPORT 2023 33Investment andTalent PromotionWe refer to these as the oven and microwave approach.Its imperative that long-term skills development the“oven”be addressed through partnering with the private sector for training,appren

98、ticeship programs and international student attraction.Concurrently,short-term initiatives like visa fast-tracking,creating soft-landing resources,job matching and international marketing programmes the“microwave”are now also necessary to fill gaps for the quick-changing needs of industry.A common q

99、uestion in many locations is this:“Whos responsibility is this?”In our view,investment promotion agencies possess the relationships across government and private industry to fill the void.And more than at any time in the past,fulfilling this function provides IPAs with a very tangible service offeri

100、ng to address a primary pain point and assist companies in successfully launching within their jurisdiction34 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Only 36%of IPAs are monitoring the ESG impact of FDI as part of their quality strategy Linked with the shift to quality FDI,51%of IPA respondents state

101、 they have changed their strategy to comply with sustainable development goals.However just over a third are actually monitoring the ESG impact of projects they target and attract The only exception was with city IPAs as 58%of these respondents stated they were monitoring ESG impact This shows a cri

102、tical gap between IPAs strategy and FDI market trends,since 6 of the 10 largest FDI projects in 2022 were from the renewable sectorSource:OCO Global WAIPA Innovation Report 2023 74 respondents34 OCO GLOBAL-WAIPA INNOVATION REPORT 2023YES36%Are you monitoring the ESGimpact of your FDI projects?NO64%A

103、ddressingESG objectivesMissed opportunities?Table 1.Largest greenfield projects announced in 2022 Host economy Industry segment Parent company Home economy Estimated capex(Millions of dollars)Taiwan Semiconductor Manufacturing(TMSC)Taiwan,Province of China United StatesSemiconductors 28 000 South Af

104、rica Real estate URB United Arab Emirates 20 000 India Semiconductors Vedanta Resources United Kingdom 19 500 Ireland Semiconductors Intel United States 13 366 ACME Group(ACME Cleantech Solutions)Egypt Renewable energy India 13 000 United Kingdom Renewable energy(wind)Marubeni Japan 12 240 Egypt Ren

105、ewable energy Globeleq Generation United Kingdom 11 000 Mubadala Investment Company Egypt Renewable energy(wind)United Arab Emirates 10 815 Morocco Renewable energy Eren Groupe Luxembourg 10 280 Egypt Renewable energy Fortescue Metals Group Australia 10 000 Source:UNCTAD,based on information from th

106、e Financial Times Ltd,fDi Markets(www.fD).OCO GLOBAL-WAIPA INNOVATION REPORT 2023 3536 OCO GLOBAL-WAIPA INNOVATION REPORT 202336 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Case studyAn investors view of the importance of demonstrating ESGTrevor Gunn VP International Relations,MedtronicMedtronic is the w

107、orlds largest manufacturer of medical technology.The company started as the inventor of the pacemaker and has since grown quite significantly to a$33bn revenue and 100,000 employees across active in 160 countries.In response to supply chain shocks from the global pandemic we are looking at a lot of

108、different opportunities around the world to invest,to rationalise,to take in suppliers from less risky destinations than in the past.But we are also looking for countries that can prove they are serious about ESG.ESG really matters for Medtronics present and future investment strategy and how we eva

109、luate different OCO GLOBAL-WAIPA INNOVATION REPORT 2023 37countries around the world.For Medtronic,ESG is about more than just the E(Environment)as the S(Social)and G(Governance)also play a very important role.When it comes to the S(Social),as a healthcare company Medtronic is very much focussed on

110、key metrics and wants to ensure access and equity for universal healthcare.If countries have plans in this area,they will become a more attractive location for Medtronic.Governments that agree with the companys ethos on healthcare access,and make investment in it,will also be viewed positively.Examp

111、les such as Ghana or Kenya in Africa,or Norway in Europe,or Thailand and Japan in East Asia are all very attractive countries for investment,or for just further engagement with Medtronic.And then of course there is the G(Governance)which gets talked about less but is very important to Medtronic.We k

112、now that our investment in time and effort will go nowhere if we are investing in environments that are not transparent or accountable.Medtronics investment strategy shows how companies are thinking seriously about ESG.We are following countries that can demonstrate they are supportive of the E,the

113、S and the G.38 OCO GLOBAL-WAIPA INNOVATION REPORT 2023 OCO GLOBAL-WAIPA INNOVATION REPORT 2023 39Percentage of respondentsrating a criteria as quality FDI,andpercentage currently usingthat criteria to monitor progressMonitoringQuality%Rating this as Quality FDI%Currently Monitoring0%Highnumberof job

114、sGenerateslargeCapExLow carbonfootprintLinked toprioritysectorFills anexisting gap inthe localvalue chainQuality of the jobs createdis highFostersinnovation10%20%30%40%50%60%70%Quality FDIGap betweendefining qualityand measuringqualityCurrently Monitoring A consistent trend across IPAs in all region

115、s was the gap between how they define quality FDIs and the KPIs they are using to monitor activity For example,59%of respondents stated that quality FDI means fostering innovation,while only 30%are currently using innovation as a KPI to monitor progress The areas with the largest gaps between a defi

116、nition of quality and actual measurement included innovation,quality of jobs created,filling a gap in the local value chain,and linking to a priority sector Critically,these are some of the most important factors in IPAs definition of qualityMonitoring the FDI attraction performance:A complete set o

117、f KPIs yet to be developedSource:OCO Global WAIPA Innovation Report 2023 74 respondents40 OCO GLOBAL-WAIPA INNOVATION REPORT 202340 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Case studyLondon&Partners show the value of measuring ESGLaura Citron CEOLondon&Partners London&Partners is the business growth a

118、nd destination agency for London.Responsible for FDI but also trade,tourism,innovation and events promotion in the Greater London area.Set up as a social enterprise,it is partly owned and funded by the Mayor of London and partly funded by London businesses.The agency has been on a journey to quality

119、 FDI for many years,and we no longer count project numbers or size of investment but instead look at whether an investment is creating high quality jobs for local people.OCO GLOBAL-WAIPA INNOVATION REPORT 2023 41An important element of this is what companies do once they land in London.How do they b

120、ehave in the local area and what impact do they have on the local economy?London&Partners are increasingly working with their clients after they land in London to help them become a positive force in the economy.One example is a new initiative we are launching around talent where we are working with

121、 our clients to help them understand where and how to recruit from in an inclusive way.This includes making the connection between the company and the community to ensure that jobs are accessible for local people and for disadvantaged communities.London&Partners use an evaluation methodology that is

122、 rigorous and we only include an investment if we can evidence we were directly responsible for the decision to invest in London.This is not only about reporting,but also plays a really important part in talent attraction for our own organisation.People increasingly go to work because they want to f

123、eel they are having an impact,and the London&Partners methodology,where teams can see what they did and it is a fair reflection of their effort,really helps with recruitment and retention of staff.42 OCO GLOBAL-WAIPA INNOVATION REPORT 202342 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Case studyA sustain

124、able world fed and preserved through bioconversionThomas Arnaud Operations&Purchasing ManagerArgronutrisAgronutris is a French-based company specialized in insect production.We raise and transform insects for petfood,aquaculture,and tomorrow human food,with high-quality and low carbon footprint prot

125、eins.As the need of alternative proteins will increase in the next few years,our companys first ambition is to feed and preserve a sustainable world through bioconversion.Sustainability is,indeed,one of the true DNA of our company.OCO GLOBAL-WAIPA INNOVATION REPORT 2023 43We chose to implement our f

126、irst 16,000 m2 production unit,that we inaugurated this year,in the north-east of France,not only because it is located at the crossroads of Europe but also because its near our inputs.However,our business model is being disrupted,and with strong competition,we have to embrace a quick and ambitious

127、international growth agenda.We are planning for a fast expansion and diversification of our industrial footprint in the short to mid-term,across the 3 main global regions:Europe,APAC and North-America.What makes us different is our ability to provide a high-quality product with a very low carbon foo

128、tprint.To reach such an ambitious target,we need to be supported by top industrial partners,and we need to be close to them.That is why we have developed,with OCO Global,a complex and actionable footprint evaluation approach,mixing availability and proximity of raw materials with more traditional lo

129、cation criteria such as costs,supply chain efficiency,risks and talents etc.OCO Global helped Agronutris in the development of a complex and actionable footprint evaluation approach.We did select and investigate more than 30 potential locations around the globe.This step has been and still is-critic

130、al to our decision-making process as we need to rapidly get technical,detailed,and accurate information around local industrial ecosystems.In this process,we heavily rely on a number of key partners.Investment Promotion Agencies are amongst the most critical ones.The most professional and responsive

131、 IPAs make a true difference by facilitating the right information at the right time,which is fundamental to our investment-decision process.44 OCO GLOBAL-WAIPA INNOVATION REPORT 2023Gareth HaganCEO,OCO GVincent RaufastMarket Director,OCO GIsmail ErsahinCEO,WAIPAismail.ersahinwaipa.orgAndreas HoraCoordinator,WAIPAandreas.horawaipa.orgFor more information onOCO Global or WAIPA services get in touch:waipa.org