A brand is a store of trust that becomes increasingly important as the choice multiplies.
Chado Investment Promotion Agency has always applied these marketing insights to its core function of image building. Our task is to transform the host country into a trustworthy and resonant brand among the investment objectives.
The image building of a country is nothing less than the creation of the goal of promoting investment, the aim of which is to improve and sell the image of the country within the investor community, as well as to build an attractive budget for future investments.
Image building is crucial for countries that are new to the appeal of foreign direct investment, and especially for countries that have political and/or economic problems or that may be too small and have therefore received little or no international media coverage.
The image of the country can be perceived as the image, the reputation, the stereotype according to which businessmen and consumers attach themselves to the products of a particular country. How a country is perceived, simultaneously by the country and abroad, from the quality of its goods and services to the attractiveness of its culture and tourism, its investment opportunities and the ease of creating entrepreneurial policy, economic policy and foreign policy, can be shaped under one brand.
The branding process strengthens democracy and helps both internal and external development to successfully integrate into the global community. It is important that countries use the marketing and promotional tools of modern societies to achieve their main economic and political agendas. The progressive improvement of the image of goods and services, economic agents and manufacturers of a particular country and of countries as a whole can strengthen and strengthen its competitiveness and attractiveness.
The concept of branding is traditionally associated with businesses and their products and services, whether in the consumer market or in B2B markets.
Today, this concept is also used to shape the image of a country:
Governments are responsible for the economic and political development of their countries. National development cannot be isolated from the international community while markets and policies take place on the international stage. The complex of these elements and the political, economic, legal and cultural environment all contribute to the identity and image of a nation.
In general, each country is already a brand: there is already an entity with positive and negative characteristics in the minds of others. Based on these perceptions, other countries and individuals will interact with it by either contributing to its development or hindering it. This raises a question for any country that wants to raise its profile in the world and increase the main factors of development: trade, investment and tourism.
Effective brand management and competition at all levels is a very important issue for many countries. It has been almost universally accepted that the promotion of tourism by the government is a good idea that creates great results for the money invested and the positive image of the country. The tourism industry creates jobs like no other, and its development generally leads the progress of the economy in everything from infrastructure to education to related industries of construction and services.
To facilitate this development, governments have established tourism ministries or agencies and provided budgets for the promotion of national tourism.
However, tourism is only one of the areas that every country needs to develop and only one of the sectors that can benefit from the country's brand image.
After all, a country with a fine beach may not be as easy or safe to invest if the relevant legislation is not enshrined and the rule of law is not firmly anchored or the economic development trend is not clearly explained.
How can a country be perceived at home and abroad about the quality of its goods and services, the attractiveness of its culture and its tourism and investment opportunities, politics, economic policy and foreign policy?
The branding process strengthens democracy and helps both internal and external development to successfully integrate into the global community at all levels.
Economically, a qualitative and quantitative indicator of economic capabilities and competitiveness creates an image conducive to close business relationships. This can facilitate trade concessions and incentives, as well as greater investment flows. These stimulate the economy, create jobs and increase prosperity through higher taxes.
While the world demands greater corporate responsibility, for governments it is a fact. Terms such as transparency, accountability and good citizenship are increasingly being applied to state institutions as well as private companies. Many companies have used friendly labels to improve their image, and governments must do the same to protect and develop the goodwill of others. The image of a government at the international level has a reverse impact on its economy.
Likewise, the country's brand image should be developed in the broadest context and help shape national identity at home and abroad. The state's use of the traces of its history, geography and ethnic motives to build its own distinctive image is a benign campaign that does not have the deep and often antagonistic meaning of national identity and uniqueness that can accompany nationalism. Smart states build their brands on reputation and attitudes in the same way that smart businesses do.