Right, it isn't the only aspect to consider, as you said. Productivity depends on a number of factors, such as training, education and human capital. A more highly skilled workforce that can adapt through ongoing training will boost productivity.
Taxation is also a factor. A predictable return on investment is a basic condition for investing capital.
The regulatory environment is one of the factors that must be taken into account.
Infrastructure is another. Ms. Furlong talked about port infrastructure and transportation and logistics infrastructure.
There are many factors, but there's a lot governments can do on the regulatory side at no cost. It is not about tax credits. The point is that regulation needs to be outcome-oriented, not process-oriented. I think that's the takeaway. We have to work with companies upstream to ensure that regulations will not have adverse and counterproductive effects.