To the casual observer, it appears that multinational corporations (MNCs) are focused solely on the bottom line. The enormous benefits they bring to local economies and populations are often overlooked. Microsoft, Nokia, Google, McDonald’s, and BP, make significant long-term investments in the countries where they operate, and they are not alone. Many MNCs are choosing this philanthropic approach.
First and foremost multinational corporations produce jobs, but they also elevate the local levels of knowledge and skill in their field of operation. MNCs create pathways for education and training that lead to long-term socio-economic improvements
By paying taxes MNCs strengthen the revenue base of developing nations. This infusion of funds can be used to improve infrastructures, such as roads, schools, utilities, and hospitals. The multinational companies, as well as their employees, purchase local goods and services, boosting the profits of small local businesses and giving hope to others who dream of being entrepreneurs.
An impressive example of the positive legacy of MNC involvement in developing nations is Madagascar’s new imaging center. Opening its doors in 2016 at the Joseph Ravoahangy Andrianavalona Hospital in Antananarivo, the advanced imaging center, a collaborative effort of NIP Global, Ltd., the local government, and the Hospital, is the first of its kind in the country. It is finally providing doctors and patients with imaging equipment like MRI, mammography equipment, scanners, and echo-Dopplers. These advanced diagnostic tools, together with the professional training that is also being provided, will vastly improve the ability of health professionals to detect medical issues and design timely treatment protocols.
Among the treatments that will now be available in Madagascar is lithotripsy which is a procedure that employs sound waves to shatter kidney stones, eliminating the need for surgery. Until the opening of the Center, residents of Madagascar had to travel abroad to receive this treatment, which is very expensive and thereby was limited to only those with financial means. Aside from providing equipment and training, the involved parties are also working on raising public awareness to the benefits of early detection and improving access to mammograms throughout the country.
This joint initiative comes to show just how accurately and significantly a cooperation can contribute to the developing countries it operates in. Once the company becomes acquainted with the local society, business sector, and influencers, it can provide sustainable help exactly where it is needed.