Some developing countries invite large foreign companies to open offices and factories in order to help their economy. However, other feel that it should be shot out and instead government should help the local companies to contribute to the economic growth. To what extent do you agree or disagree

In this contemporary Eire, there has been an ongoing debate on whether multi national companies should be encouraged by the regime of the developing nation or local forms should be promoted. I differ to these to a large extent for some reasons. My inclination is argued further with explanation in the ensuing paragraph. Out of all the reasons, the foremost want to support my stance is for boosting the overall economy of the nation. By this I mean, if foreign investors invest their funds in developing country then it would create play Thora of job vacancies which led to listen the unemployment problem. Another reason of giving opportunity to establish factories and of offices is because they provide better facilities to their employees. To elaborate, internationalCompanies has much sophisticated technology, therefore workers need not required to do hard work and also, they get better pays, health insurance and other essential facilities then from local companies. Further more, MNCs would help the nation to bone their economy in the long run as they raise the growth rate of host nation by introducing new investments and new technologies, due to which her administration can use money received from foreign Factories for the development in the infrastructure, technology and many more. To add to these, these companies create competition between local industries and induce their local rivals to become more innovative. However, I would not overlook the other side too. To commence with, MNCs are financially stronger than local companies, hence they can easily stifle competition. Also in the past many multinational industries have been accused of engaging in unethical practises to kill local competition. Therefore bureaucrats should help local companies instead of inviting foreign factories. Thus, to conclude the above discussion, it can be finally said that bringing MNCs may have a few drawbacks; however, pros outweigh the cons and the demerits can be alleviated by making laws to ensure healthy competition with their companions.