Investment promotion is an extremely complex and varied field of work. This means that investment promotion agency (IPA) leaders have very exciting jobs but struggle to find professional development and FDI training that meets the needs of their profession. From technical and sector-specific knowledge to leadership and soft skills, IPA management must possess it all. Here are five of the top skills we have identified as crucial to leading a successful IPA:
1. Ability to motivate and lead high-performing teams
To keep motivation high, leaders of IPAs need to create a shared vision for the IPA that both relates to what staff care about as well as translates across markets to motivate both the headquarters and local family offices. The vision may be aligned to the wider economic goals of the ruling government and will therefore vary according to the country and its drivers. Targets should be linked to this vision to provide direction and clarity on how the vision will be achieved.
2. Excellent interpersonal, presentation and networking skills
As the most senior figures of the organisation, many investors, particularly those who plan mega-projects, have an expectation of meeting with IPA management. To achieve this, leaders must possess a high degree of diplomacy and sensitivity when dealing with a diverse group of global investors. They must be able to communicate effectively with diverse audiences, respecting the intersection of culture, customs, and language with business practices.
3. Stakeholder management
IPA leaders must maintain the support of government and private sector partners, satisfy political stakeholders, and achieve increasingly challenging objectives. A best practice IPA will know how to leverage their stakeholders as an extension of the IPA to reach new networks and investors.
4. Technical and industry expertise
At a macro level, IPA leaders need to understand global economic trends, geopolitics, regulatory frameworks, national policies and laws, industry developments, and the impact that all these factors have on investment. At the level of individual projects, investment promotion specialists typically deal with finance, tax, human resources, logistics, real estate, land use planning, utilities and many other issues that influence the successful outcome of an investment. This expertise is often learnt on the job as they change over time.
5. Expert analytical and decision-making skills
Senior IPA representatives must have excellent business judgment and the ability to triage projects and leads. They need to identify high-potential leads and allocate resources and teams accordingly. Each IPA has a unique budget, team size, and geographical distribution, requiring an optimal spread of resources. Ideally, they should determine which projects need a team and which can be handled with off-the-shelf resources like existing reports and data.
Given the diversity of skills they need and the complexity of their work, leaders of investment promotion agencies have few opportunities to sharpen their skills.
Advanced FDI Leadership Programme
The Advanced FDI Leadership Programme by the designed and delivered by the Møller Institute in partnership with the FDI Center is the world’s only academically certified programme for experienced investment promotion professionals.
We invite leaders and management of investment promotion agencies to apply for the next cohort and take this unique opportunity to further their professional development and FDI training.