2023-Public-Sector-Perspectives

Table 1: Pre-requisites of a successful IFC General factors Financial sector specific factors Hard factors • Pro-business government which understands and supports economic development opportunities • Well-developed domestic economy easily accessible to international companies • Predictable legal system, easily enforced • Competitive and stable tax regime • Efficient and value-for-money public infrastructure, including transport, schools, housing and healthcare • Appropriate independent, fair and forward-looking regulation • Well developed, stable banking sector • Transparent, efficient, and liberalized financial markets providing broad issuer and investor opportunities • Critical mass of liquidity pools • Strong professional support services Soft factors • Educated workforce with English and/or appropriate language skills • Business environment marked by fairness and adherence to the legal framework • General acceptance of a free-market philosophy • Openness to foreign cultures and people — the “cosmopolitan factor” • Attractiveness of “hard” and “soft” environment to expatriates • Financially skilled workforce • Competitive mindset disposed towards product and service innovation, including use of financial and information technologies • Ability to work in an international environment • Key financial services brand names represented • Active focus on developing a positive reputation among international stakeholders 12 What Makes a Successful IFC?