When it’s easy to startup businesses in a Country, Multinational companies get attracted to set up their businesses in the country. New businesses (these businesses MUST not damage the environment or corrupt public officials) create jobs, pay taxes and bring in the much needed foreign currency revenue to the country.
Since most of these multi nationals are more technologically advanced, the country is further benefited with better technologies, they spread their knowledge & hire local firms to supply them which will automatically create more jobs.
To achieve this standard some of the key criteria
• Business incorporation within 24 hrs.
• Business friendly Jurisdiction
• Zero Corruption & crime.
• Trade, Investment & Business freedom.
• Trade Freedom
– Open Trade policies
– Low Trade Barriers
– Low Tariff structure
– Excellent Boarder administration.
• Motivated & skilled workforce.
• Light Tax burdens.
• Adaptation of Technology
• High degree of Innovation
• Intellectual property protection. (Intellectual property is a revenue generating asset)
• Top notch Infrastructure
• Financial market sophistication.
• Logistic efficiency & affordability of shipments.
• High degree of Public trust on Politicians.
• Public need to feel free of burden from government regulations
~ Eranjanie Wijesinghe