One way countries seek to increase economic development is by promoting foreign direct investment (FDI). This involves attracting and encouraging multinational corporations and investors to invest in industries and sectors within the country. Governments offer incentives such as tax breaks, subsidies, and streamlined regulatory processes to attract foreign investment. This influx of investment can stimulate economic growth, create job opportunities, and enhance technological advancements within the country. Additionally, FDI can lead to the transfer of skills, knowledge, and technology from multinational corporations to domestic companies, further boosting economic development.
