Abstract
The global economy has been hit by the unexpected COVID-19 outbreak, and foreign investment has been seen as one of the most important tools to boost the economy. However, in the highly uncertain post-epidemic era, determining how to attract foreign investment is the key to revitalizing the economy. What are the important factors for governments to attract investment, and how to improve them? This will be an important decision in the post-epidemic era. Therefore, this study develops a novel decision-making model to explore the key factors in attracting foreign investment. The model first uses fuzzy Delphi to explore the key factors of attracting foreign investment in the post-epidemic era, and then uses DEMATEL to construct the causal relationships among these factors. To overcome the uncertainty of various information sources and inconsistent messages from decision-makers, this study combined neutrosophic set theory to conduct quantitative analysis. The results of the study show that the model is suitable for analyzing the key factors of investment attraction in the post-epidemic period. Based on the results of the study, we also propose strategies that will help the relevant policy-making departments to understand the root causes of the problem and to formulate appropriate investment strategies in advance. In addition, the model is also used for comparative analysis, which reveals that this novel approach can integrate more incomplete information and present expert opinions in a more objective way.
Highlights
With the rapid development of technology, the global economy has been growing quickly
Taiwan is a small economy that is vulnerable to international economic influences
This study shows that the proposed causal analysis model is more useful than the conventional Decision-making trial and evaluation laboratory (DEMATEL) for applying to group decision problems with incomplete information
Summary
With the rapid development of technology, the global economy has been growing quickly. The outbreak of COVID-19 occurred at the end of 2019, and this unexpected public health crisis is threatening the world [1]. Because of the risk of wide spread of this infectious disease, further transmission may occur through human activities [2]. Because of these measures, economic development is being challenged worldwide [3]. West Texas Intermediate (WTI) crude oil in New York traded at a negative dollar breakout price for the first time [6]. These economic disruptions are evidence that the global economy has been severely impacted by COVID-19
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