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Some people think developing country should invite large foreign company to open office and factory to grow their economies. Other people think the developing country should keep the large company out and develop local company instead. Discuss both views and give your own opinion. Give reasons for your answer and include any relevant examples from your own knowledge and experience Write at least 250 words.

Some people think developing country should invite large foreign company to open office and factory to grow their economies. Other people think the developing country should keep the large company out and develop local company instead. Rok
Many countries have been battling slow economic growth since year 2008. Some countries are on the verge of a financial breakdown. Financial problems and negative growth have encouraged many governments to solicit foreign investment in their countries. There are several advantages to attracting foreign investment. There are some disadvantages too. On the bright side, foreign investment helps the local economy in many ways. When foreign companies open their branches and offices in a country, they help generate several jobs. This gives a boost to the local economy. The arrival of new companies also increases the competition in the market. This will encourage companies to price their products competitively. Tough competition will also improve the quality of products and services. It is evident that foreign investment benefits not only the country but also the consumer. On the flip side, foreign investment has its fair share of disadvantages too. One should not forget that companies that set up their establishments on the foreign soil are driven by their desire to make more money. They aren’t looking to engage in charity work. They are financially stronger than local companies and hence they can easily stifle competition. Also in the past many multinational companies have been accused of engaging in unethical practices to kill local competition. Because of these reasons many economists feel that governments should help local companies instead of inviting foreign companies. Considering the arguments in favor of and against inviting foreign companies, it is not hard to see that there are several benefits to attracting foreign companies. There are a few disadvantages too. However, governments can solve these problems by enacting proper laws to ensure healthy competition. By doing this governments can also protect small businesses and enable economic growth.
Many
countries
have been battling slow economic growth since year 2008.
Some
countries
are on the verge of a financial breakdown. Financial problems and
negative
growth have encouraged
many
governments
to solicit
foreign
investment
in their
countries
. There are several advantages to attracting
foreign
investment
. There are
some
disadvantages too. On the bright side,
foreign
investment
helps
the
local
economy in
many
ways. When
foreign
companies
open their branches and offices in a
country
, they
help
generate several jobs. This gives a boost to the
local
economy. The arrival of new
companies
also
increases the
competition
in the market. This will encourage
companies
to price their products
competitively
. Tough
competition
will
also
improve
the quality of products and services. It is evident that
foreign
investment
benefits not
only
the
country
but
also
the consumer. On the flip side,
foreign
investment
has its
fair
share of disadvantages too. One should not forget that
companies
that set up their establishments on the
foreign
soil
are driven
by their desire to
make
more money. They aren’t looking to engage in charity work. They are
financially
stronger than
local
companies
and
hence
they can
easily
stifle
competition
.
Also
in the past
many
multinational
companies
have
been accused
of engaging in unethical practices to kill
local
competition
.
Because
of these reasons
many
economists feel that
governments
should
help
local
companies
instead
of inviting
foreign
companies
. Considering the arguments in favor of and against inviting
foreign
companies
, it is not
hard
to
see
that there are several benefits to attracting
foreign
companies
. There are a few disadvantages too.
However
,
governments
can solve these problems by enacting proper laws to ensure healthy
competition
. By doing
this
governments
can
also
protect
small
businesses and enable economic growth.
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IELTS essay Some people think developing country should invite large foreign company to open office and factory to grow their economies. Other people think the developing country should keep the large company out and develop local company instead.

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