Tools, Techniques and Resources for Investment Promotion
The three cities (Kumasi, Ghana; Mekelle, Ethiopia and Tabora, Tanzania) assisted under the Regional Partnership were a subset of the 11 cities in eight African countries designated as Millennium Cities. The Partnership worked with key public and private sector actors in each of these three cities to identify promising sectors and opportunities for investment in productive enterprises. It also offered assistance in the form of capacity building of local staff and advice on appropriate business support services, and has focused on developing strategies and executing campaigns to target and win new investment in productive private sector enterprises.
This section captures key activities and reflects lessons learned in the course of this work. The project targets in particular small- and medium-sized cities in Africa and other emerging markets with limited resources and experience in attracting inward investment that are now establishing a municipal investment promotion function, e.g., an investment promotion center/office or desk, for the first time. Examples of promotional materials developed by the cities over the two years of the collaboration are also given here.
What is investment promotion?
Investment promotion actively seeks to bring investment opportunities to the attention of potential investors, provides capital, jobs, skills, technology and exports, and increases productivity, innovation and wages in a city or country. Investment promotion is targeted to both domestic as well as foreign companies. To compete for foreign direct investment (FDI) on the world FDI market, cities must put in place a capacity to attract and retain investors and to benefit from their investments.
In building the capacity to attract investment, cities:
- Develop a city investment promotion strategy and action plan.
- Template for Investment Opportunity Profiles
- Build a city investment promotion agency.
- Build image and market city to national, regional and international investors.
- Building an Investment Promotion Website at the Sub-National Level: A Step-by-Step Guide
- Target investors and generate leads.
- Guide to Preparing an Investment Promotion Event
- Follow Up on Investment Promotion Events
- Respond to incoming investors and facilitate new investment.
- Develop aftercare and policy advocacy.
Several resources should be consulted in conjunction with this overview: