An international comparison of investment promotion websites

An international comparison of investment promotion websites

This study assessed the Jeju Provincial Government"s investment promotion Jeju Free International City (JFIC) website in comparison to Hong Kong’s best practice subnational Investment Promotion Agency’s (IPA), InvestHK, and Prince Edward Island’s IPA, Invest PEI. The study assessed four website dimensions that are recommended for information dissemination to potential investors: information architecture, design, content, and promotional effective- ness. This study is based on Theodore Moran’s promotional development work, and the Multilateral Investment Guarantee Agency’s (MIGA) recent IPA performance study. The JFIC website exhibited a low overall website performance score of 44%, compared to PEI (68.8%) and InvestHK (90.2%). Jeju’s Content performance (16%) was far lower than the Invest PEI and InvestHK (28% and 47% respectively) IPA scores, and this is what provides investors crucial information such as the IPA’s purpose, core (location) information, and credible, sector specific information. The JFIC site results also show weak promotional effectiveness of the website in terms of IPA branding, contact information and being easily found in basic Internet searches. The results of this assessment are consistent with MIGA’s findings between best practice IPA’s and developing IPA websites (2006). Recommendations include that Jeju Special Self-governing Province (JSSP) revise the JFIC website entirely, or remove it and provide its full support to enhance the Jeju Development Center’s website. The same website evaluation could provide useful feedback to dramatically increase the effectiveness of the JDC website as well. A true ‘one stop shop’ to service investors would be the most effective solution. Finally, it is recommended that the Investment Climate Survey be undertaken to clearly identify what sector specific information can be promoted to investors on the website. The information for investors will then match Jeju’s impressive progress forward in its development.

This study assessed the Jeju Provincial Government"s investment promotion Jeju Free International City (JFIC) website in comparison to Hong Kong’s best practice subnational Investment Promotion Agency’s (IPA), InvestHK, and Prince Edward Island’s IPA, Invest PEI. The study assessed four website dimensions that are recommended for information dissemination to potential investors: information architecture, design, content, and promotional effective- ness. This study is based on Theodore Moran’s promotional development work, and the Multilateral Investment Guarantee Agency’s (MIGA) recent IPA performance study. The JFIC website exhibited a low overall website performance score of 44%, compared to PEI (68.8%) and InvestHK (90.2%). Jeju’s Content performance (16%) was far lower than the Invest PEI and InvestHK (28% and 47% respectively) IPA scores, and this is what provides investors crucial information such as the IPA’s purpose, core (location) information, and credible, sector specific information. The JFIC site results also show weak promotional effectiveness of the website in terms of IPA branding, contact information and being easily found in basic Internet searches. The results of this assessment are consistent with MIGA’s findings between best practice IPA’s and developing IPA websites (2006). Recommendations include that Jeju Special Self-governing Province (JSSP) revise the JFIC website entirely, or remove it and provide its full support to enhance the Jeju Development Center’s website. The same website evaluation could provide useful feedback to dramatically increase the effectiveness of the JDC website as well. A true ‘one stop shop’ to service investors would be the most effective solution. Finally, it is recommended that the Investment Climate Survey be undertaken to clearly identify what sector specific information can be promoted to investors on the website. The information for investors will then match Jeju’s impressive progress forward in its development.