The government just published [yet another] document with tons of “recommendations” as to how the economy can be supported and boosted. (Someone should be keeping count of how many of these roadmaps have already been authorized and nicely shelved.)
In this new economic reform plan, there’s a lot of talk about what should be done to attract foreign investments. Of course literally all of these recommendations have been made over and over for two decades. The only problem is that only very few of them have been implemented effectively. (Note the emphasis on effectively.)
That’s why actual Results remain marginal and negligent. But hey, who’s counting, right? As long as that “roadmap” gets written, published, and celebrated, the job has been done!
So what about the small local investor? You know, the thousands of us who have put their money where their mouth is, and are trying to build viable and profitable businesses? Businesses that employ more people, generate profits and pay taxes, and move the economy?
There’s some talk about supporting micro enterprises in remote locations and all. But that seems to be more of lip service to appease our community of donors. And that’s only so they can in turn justify pouring more and more funds into a government that doesn’t really understand how a prospering private sector is grown and nurtured.
Local investors won’t invest millions in some real estate complex that only ends up emptying out other buildings because we are already over-supplied in real estate terms. (That is of course, assuming the complex actually gets finished in our lifetime.) But they prefer to invest into business models that are scalable, agile, to a good extent based on IP, and stand a change to become serious global players.
Those [SMEs] are the critical enterprises who will eventually end up employing a large portion of the working population, and contribute to the economy in the form of exports – and guess what???? Yes, ultimately foreign investments!!!
And last but not least, when those sought-after foreign investors do come for a visit (due diligence), guess who they will listen to? The government’s PR machine, or local business who can tell them first-hand about what they will go through.
In conclusion, focus on your local SMEs, do all you can to [effectively] to support them, and your economic problems will soon be history. It’s no rocket science really. There are tons of other nations who have successfully done just that. And they are all more than happy to share their experiences and successes.
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