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Developing a Systematic Approach to Dealing with Investor Inquiries

Developing a Systematic Approach to Dealing with Investor Inquiries. Amaya Manrique Kingston, Jamaica October 2010. Facilitation is the most basic activity in foreign investment promotion>>> Everybody deserves a response.

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Developing a Systematic Approach to Dealing with Investor Inquiries

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  1. Developing a Systematic Approach to Dealing with Investor Inquiries Amaya ManriqueKingston, JamaicaOctober 2010

  2. Facilitation is the most basic activity in foreign investment promotion>>> Everybody deserves a response An IPI’s support to a foreign company in the investment decision process can influence its location choice Invest in Sweden Agency (ISA) played a key role in the decision of Zeb Rice to establish a packing plant in Sweden: • Zeb Rice considered the UK, Italy, Austria, Belgium and Spain • ISA’s situation: • Packing industry is not a key priority sector in Sweden • Pakistan not a common country source of FDI • Small project (US$4,4 million) • ISA answered the investor’s inquiry and followed up with more detailed advice, information and hand-holding the set-up process. • Zeb Rice plant opened in 2004, expanded from 15 to 23 employees one year later. 2

  3. Investor Inquiry Handling: In and Out, Looks Simple! Components of Inquiry System Reception Screening Processing Response Follow up

  4. Reception: Making Sure Inquiries Get To Us Inquiry reception must be handled under the principles of Availability and Contactability • Display clearly IPI contacts From Abroad!! • Display contacts from the inverstors’ need • perspective: by topic or sector Web site • Make sure telephone works at all times! • Promotion staff should have own phone line • Voice Mail to allow prompt call-back Telephone • Working emails with adequate spam filters • Individual emails for each promoter • Automatic replies. Email

  5. Screening: Setting Up Priorities Inquiry screening should be done promptly, fairly and following established qualification criteria • Sector • Value • Number of jobs • Type of investor • Source

  6. Processing: Allocating Resources Inquiry processing, with timely responsiveness and staff guidelines of response Level 1 Level 2 Level 3

  7. Response: Ensuring Quality Drafting: Consistent, Accurate and Making a Business Case Quality Control Client Tracking System KM

  8. Follow-Up: Converting Inquiries into Leads By providing ongoing customer care to the interested investor, according to their timeline and process Follow up and Build the Relationship with the Company • For example: • Can you tell me more about the project? – Before we answer the inquiry • Have you received the information we sent you? --2 days after response • Do you need anything else? – 1 week after response to inquiry • How is the selection process going? – 1 week after inquiry deadline • Can I come to meet you in your office? – Any time!!!

  9. The Site Selection Process

  10. What will set your IPI apart from other IPIs? Timeliness Quality Professionalism Follow-Up! Questions

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