Some people believe that countries should invite foreign companies to open their brunches offices and factories in order to develop their economies Others think countries should invest in their own companies instead Discuss both views and give your own op

This is a universally acknowledged fact that nowadays, private organizations are helping countries in increasing their financial economy as these companies normally provides employment to local people. Presently, because of this fact many people hold the opinion that incipient and developing countries should invite foreign industries to open branches, offices and factories in their country; whereas, others have the conflicting views. Here, in the below essay I will try to enunciate on this fact with my own perception.

To begin with there are numerous advantages if foreign industries are ready to open their branches and offices in any country. Firstly, new job opportunities will be created for local people; undeniably, with better salary options. Secondly, these multinational companies will help in increasing country economy as governments are collecting hefty amount of different taxes from these industries. Moreover, there can be probable chances that these industries produce better qualities of goods like dairy products and food products that were earlier imported from other countries by paying the high import duties. Definitely, if quality products are available in a country it can uplifts the living of people of a nation due to the cheaper prices. By the contrast, other people arguing on this fact have the conflicting views.

As per them, they say that if a country allows foreign industry to establish in their country then it can impact the probability of local companies, as workers working in the local companies may leave the jobs to join foreign companies because of better future prospects. Consequently, there would be talent crunch in the local industries resulting in decrease in productivity and profit margins. Instead, government should come forward and support own local businesses by reducing the sales, property tax and other kind of taxes, so that these saving can be paid to employees either as bonuses or perks. Therefore, these people think that it is better that government promote local markets and manufacturers for the betterment of a nation.

To recapitulate, by looking at the above facts, undeniably, there are some benefits as well as disadvantages if government allows foreign industry to establish their branches and offices.
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