Although domestic firms are by far the largest investors in developing and transition economies, foreign investors are often particularly sought after for their technology, skills and expertise and for their access to international markets. Most governments, including sometimes at the sub-national level, now actively promote foreign investment through agencies mandated to this effect and offer a range of inducements to link multinational enterprises (MNEs) more closely to the local economy. The traditional aims of foreign direct investment (FDI) policy in terms of employment, exports and, to a lesser extent, import substitution still exist, but the overall emphasis in now much more on the contribution of foreign MNEs to the overall development and competitiveness of the local business sector.