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.

We are in an era,where global

companies

put their footprints all over the world despite the geographical boundaries. The trend is boosted by the development in the telecommunication and transport sector. At the

sametime

Correct your spelling

same time

,

this

has caused a rivalry between local and international businesses too.Some believe that there should be limitations to establish multinational

companies

within the

country

.But, I am not agreeing with that point.

Firstly

,any of the global

companies

do not just bring their product to a

country

.Their establishment brings a huge amount of foreign investments to the

country

.

Also

,

this

creates a lot of job opportunities for locals and that will uplift the entire community as well.

For example

,the BOI zones formed in Katunayake and Koggala in Sri Lanka has boosted the economy of the

country

by creating thousands of job opportunities.

Further

, these developments entirely change the lifestyles of neighbouring communities by generating a lot of indirect income sources like accommodation.

In addition

to the social impact,those investments have become the key reason to develop the telecommunication and electricity infrastructure in the area

also

.Apart from the social and economical aspects,people will be able to experience global products and services due to those foreign

companies

.

This

eventually helps to uplift the quality of local products too.

However

,there are few disadvantages that cannot be neglected. One

such

thing is the threat to the inherited industries within the

country

. A clear example is the local health and medicine industry in Sri Lanka,which has been fading away throughout the

last

decade or two. The same situation has been occurring with handmade clothes, another prominent industry in the

country

once.

Finally

,it is obvious that there are few drawbacks in allowing global businesses to establish within the

country

.But, there are plenty of positive things that can outweigh the negatives.