The cautious approach followed by many TNCs is reflected
in a large proportion (between 38 and 42 per cent) of enterprises
maintaining their investment levels relatively constant over the short
term. Responses to the survey show that more than half of respondents
expect to increase their FDI expenditures in 2015 and 2016, compared
to 2013 levels (figure 4).
This year’s survey confirms a continued desire of TNCs to
internationalize their operations, bouncing back to an increasing trend
after last year’s slowdown. This is especially true for foreign sales where
the share of respondents stating that foreign revenues account for more
than half of total sales is expected to jump from about 50 per cent of
all respondents in 2013 to 63 per cent in 2016. Similarly, the survey
reveals that in the next three years, firms intend to significantly increase
their foreign operations by raising the share of assets, investment
expenditures and employment abroad. The share of those TNCs having
less than 20 per cent of operations overseas is expected to fall by
between 6 and 10 percentage points in all areas of activity (figure 5).