ABSTRACT
An increasing number of medium- and less-developed countries became significant exporters of manufactured goods, improved the overall efficiency of their economies, enhanced growth and investment and acquired modern technology and management. In large measure, the achievements were closely related to the substantial and rapidly increasing inflow of foreign direct investment. For countries at a medium level of development, sectors such as mining, agriculture or raw material and unskilled-labor-intensive manufacturing require much less foreign investment per unit of output in order to become competitive on international markets than does technology- and skill-intensive production and exports to oligopolistic markets. Companies producing for export in the host countries are frequently exempt from ownership restrictions. In Thailand, companies producing exclusively for exports and in Trinidad and Tobago companies selling at least 75 percent of production in external markets, can be wholly foreignowned firms.
