... is the number of mandates assigned to the IPAs Agencies generally have a mandate that goes beyond foreign investment promotion Often, they combine domestic investment promotion (54 percent of ... strategy and fund- 48 / The Effectiveness of Promotion Agencies Figure 5. 1 Correlation between Number of Mandates and GDP per Capita Number of mandates 0 5, 000 10,000 15, 000 20,000 25, 000 30,000 Income ... private-public institution The effectiveness of IPAs is enhanced when the agency reports to a supervisory board that includes representatives of the private sector The higher the number of private...