If any country is interested in attracting foreign investment, it should do the following.
1. to clearly identify the areas in which foreign investment is required
2. decide the incentives that will be available for investing in the country
3. indicate the infrastructure available
4. formulate the advantages in investing in the country
5. work out the approximate cost of production of goods and services in the country
6. estimate the size of the market
7. write the success stories of 2-3 foreign investors in the country in the same area or similar areas
Pamphlets should be printed including the above points and sent to the countries’ Embassies/High Commissions abroad. The Embassies/High Commissions should send these pamphlets with a covering letter to the concerned companies. For example if investment is required in telecom sector, pamphlets should be sent to all (big or small) telecom companies in the country of their accreditation.
The pamphlets should also be sent to general investing companies- venture capital companies, institutional investors, fund managers etc.
The responses from them should be complied and sent to concerned department in the home country. Thereafter only the department officers/minister should visit the foreign country to meet the potential investors who should be invited to visit home country for further discussions, to visit to places etc.
This way it will be easy to attract foreign investment.