European investment promotion agencies vis-à-vis multinational companies from emerging economies: Comparative analysis of BRIC investor targeting

Abstract

Multinational companies from emerging economies are becoming significant
players in the globalized world economy. As the volume of foreign direct
investment from emerging economies is rising, and emerging
multinationals increasingly seek access to markets and assets in
advanced developed economies, the host governments feel the need to
define their responses and policies. The European Union is emerging as
an important destination for outward foreign direct investment (OFDI)
from Brazil, Russia, India and China (BRIC). The paper looks at the
strategic stance of European national investment promotion agencies
(IPAs) towards emerging multinationals from BRIC. It inventorizes
promotion efforts of these IPAs tailored to the BRIC companies, such as
specifically customized information provision on IPA websites and the
presence of IPA representative offices in BRIC. On the basis of
comparative analysis, it offers reflections on the challenges and
opportunities presented by emerging multinationals to European
countries.