Sam Moses and Michael Chen of Parker Poe, along with Morgan Crapps of Parker Poe Consulting, provided practical tips in Global Trade Magazine for companies whose international projects have been impacted by COVID-19.
"The coronavirus pandemic has created significant challenges for companies with foreign direct investment (FDI) projects in their pipeline," they wrote. "Restrictions on travel, immigration, and budgets are making it harder to make in-person visits to potential sites, bring over key executives, and solidify project financing amid an uncertain economy."
"But whether a project is in the site selection stage or a company is already in operation and considering additional investment, companies have plenty of options to keep their strategic projects moving," they continued. "The key is to revisit the initial strategy, adapt to changing times by utilizing virtual tools, and consider all options with immigration and project budgets – including the potential for new incentives."
You can read their full article here. Global Trade Magazine reaches nearly 130,000 C-suite executives, managers, and others in the world of manufacturing, distribution, and site selection.