In recent times, there has been a widespread of multinational companies and the increase in the influence of international businesses has a positive impact on everyone. I strongly agree with
this
statement as I believe that Linking Words
this
scenario helps to uplift the developing nations by increasing job opportunities and contributes largely to the growth of the economy.
To start with, the set up of international corporates increases the earning capacities in the progressing countries Linking Words
such
as India and Vietnam. Linking Words
This
is because these companies have large infrastructures and handle a variety of work operations from one particular location Linking Words
such
as manufacturing, production, customer care, software development and many more. Linking Words
Consequently
, Linking Words
this
requires a large workforce which in turn produces more job vacancies. Linking Words
For example
, recently The Times of India reported that a large IT firm hired 200 students from an engineering college in one campus drive.
Linking Words
Furthermore
, the better the employment rate, the higher is the GDP of a country. Globalization reserves a much higher percentage of the country's economy than any other investment. Linking Words
This
is because the inflow of international markets brings the foreign currencies into play, Linking Words
as a result
, the financial system is boosted. Linking Words
For instance
, it was acknowledged by Vietnam in 2020 that the foreign investment received from the United States, contributed to 7% of its GDP.
In conclusion, it is observed that there are numerous merits for the slowing economies to promote the spread of international businesses as it benefits the financial reserves and offers employment.Linking Words
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