Countries should restrict foreign companies from opening offices and factories in order to protect local businesses. Do you agree or disagree? Give reasons and specific examples to explain your answer.

In

this

age of globalization, trading worldwide and setting up business establishments on the foreign soils is pretty popular these days. Some would say that, government should set a limit for setting up factories by multinational companies and promote more local business. According to my personal opinion, I could not agree with the idea of proponents, because those companies not only help to create more

job

vacancies, but

also

assist to strengthen the economy of host countries.

To begin

with, overall growth of a nation has a direct relationship with investments. To elaborate, with the funding from all over the globe, one country can easily achieve its GDP target along with bringing new products in markets. The fund within a country is always limited, and without

third

-party investments, growth of the industry is not possible.

Moreover

, the number of industries are directly proportional to the buying capacity of consumers and

this

also

helps to bolster the per capita income in an indirect way.

Furthermore

, by allowing MNCs to set up their outlet, the variety of product

also

increases in the market and most of the times, by manufacturing locally can help to reduce import cost too.

Moreover

, allowing foreign investments, authorities can create more

job

vacancies and enhance

job seekers skills

Suggestion

the job seeker's skills

job seeker's skills

set. To simplify, more factories mean more people will be needed to run those organizations and that can be a great help for local residents especially for youths. On the top of that,

job

aspirants are needed to brush up their technical and communication skills and can be familiar with up to date technologies throughout the world.

For example

, after American and European investments in India's technological field, India becomes one of the leading country in the research and IT field. To conclude, despite of the bad sides of a

third

-party investments, the pros weigh more and outside investments can be very important for developing countries. I would suggest that, federal authorities should allow open trades after carefully reviewing the policies and environmental hazards associated with it along with improving local industries

also

.