The question of whether governments should welcome overseas establishments to extend their businesses to their countries or provide support to their own companies is controversial. In my opinion, although both viewpoints have their justified rationale, I firmly endorse that authorities need to pay more attention to foreign businesses.
On the one hand, investment in local organizations can prevent dependence on other nations. Due to the lack of knowledge and skills in science and technology, many states are not able to manufacture numerous commodities; therefore, they are compelled to allocate a substantial sum of money to import those products. For example, in some agriculture-based countries, where governments ignore the importance of developing their capability of technology, they have to bear the extremely high tariff taxes to purchase nondomestic state-of-the-art technological items. As a result, it is crucial to aid local businesses, promoting independence from overseas organizations.
On the other hand, offerring aids to foreign companies might foster widespread globalization. Having international establishments migrating to our nations is a valuable opportunity to acquire more knowledge about various fields such as economy, business, and science. For instance, in Vietnam, by inviting many successful and renowned technology companies, namely Google and Apple, local people have a chance to observe and assimilate their cutting-edge technology, further providing jobs and decreasing the unemployment rate. Additionally, with the integration of globalization, welcoming overseas establishments is a manner to express hospitality to the world, simultaneously enhancing political relationships with other nations.
In conclusion, despite the arguments that governments should encourage the growth of domestic businesses, I contend that it is more vital to assist foreign companies for the mentioned reasons. Innovative policies should be enacted to exhibit welcome to international establishments.