Tiến Sĩ Các yếu tố của môi trường đầu tư tác động đến thu hút đầu tư trực tiếp của các doanh nghiệp Mỹ tại b

DOCTORAL DISSERTATION ( LUẬN ÁN TIẾN SỸ)
HANOI-2013
ENVIRONMENT FACTORS FOR FOREIGN DIRECT INVESTMENT FOR AMERICAN BUSINESS CORPORATION IN THREE MAIN COMMERCIAL CENTERS OF VIETNAM (Các yếu tố của môi trường đầu tư tác động đến thu hút đầu tư trực tiếp của các doanh nghiệp Mỹ tại ba trung tâm kinh tế lớn của Việt Nam)
TABLE OF CONTENTS
DEED OF DECLARATION V
LIST OF TABLES XIV
LIST OF TABLES XIV
LIST OF FIGURES XVI
APPROVAL SHEET .XX
CHAPTER 1 .21
INTRODUCTION 21
Backgroundof theStudy .21
Statementof theProblem 22
Objectives .24
Hypothesis 25
Scope andlimitationof study .25
Significance of study 26
Definitionterms .27
CHAPTER 2 .32
REVIEWOFLITERATUREANDRELATEDSTUDIES. 32
1. FOREINDIRECTINVESTMENT(FDI)THEORY 32
1.1. Concept and features 32
1.1.1. Concept 32
1.1.2. Features 33
1.2. FDI classification .35
1.2.1. Joint – venture company 35
1.2.2. Enterprise with 100% foreign capital 36
1.2.3. Business cooperation contract 37
1.2.3. Other forms of FDI 37
1.3. Roles of foreign direct investment .40
1.3.1. Impact of FDI on investors and investor’s country .40
1.3.2. Impact of FDI on investment receiving country 41
2. OVERVIEW OF INVESTMENT ENVIROMENT .46
2.1. Concept 46
2.2. Characteristics of the investment environment .47
2.2.1. Synthetic feature 48
2.2.2. Mobile (dynamic) feature 48
2.2.3. Openness feature 48
2.2.4. Systematic feature 49
2.3. Classification of investment environment .50
2.3.1. Classification by national management function .50
2.3.2. Classification by channels of factors affecting investment activity .50
2.3.3. Classification by constituent elements .50
2.3.4. Classification by scopes .50
2.3.5. Classification by phases of formation and investment activities .51
2.3.6. Classification by causes for capital flows 51
3. IMPACT OF INVESTEMENT ENVIRONMENT ON FDI ATTRATION .51
3.1. Factors from investment environment in the host country countries 51
3.1.1. Natural environment 51
3.1.2. Politic environment 52
3.1.3. Law and policy environment .53
3.1.4. Economical environment .54
3.2. Factors from invironment in investor’s countries .56
3.2.1. Macroeconomic policy .56
3.2.2. International legal for oversea investment .57
3.2.3. Economic, scientific and technological potential .58
3.3. Factors from international investment environment .59
3.3.1. General trend of cooperation between regions and countries 59
3.3.2. General trend of regional lingkage and globalization 59
3.3.3. Establishment and development of transnational companies 60
4. ATTRACTING FDI EXPERIENCE WORLD-WIDE 62
4.1. Attracting FDI experience of some countries .62
4.1.1. China 62
4.1.2. Malaysia .64
4.1.3. Thailand .66
4.1.4. Singapore .67
4.2. Experience for Vietnam 68
4.3. Role of FDI on socio-economic development in Vietnam 70
4.3.1. Enhancement of investment capital .70
4.3.2. Promotion of economic structure transfer, work creation for employee .70
4.3.4. Contribution of infrastructure and techniques forming for the
industrialization and modernization process 71
4.3.5. Contribution of national budget increase .72
5. REVIEW OF RELATED STUDIES 72
6. CONCEPTUAL FRAMEWORK .75
CHAPTER 3 .77
METHODOLOGY. 77
1. RESEARCH DESIGN .77
2. LOCATION OF THE STUDY .79
4. SAMPLE SIZE AND SAMPLING TECHNIQUE .81
5. DATA COLLECTION PROCEDURE 83
Figure 2. Data collection process 85
6. STATISTICAL ANALYSIS .86

CHAPTER 4 .87
RESESULT AND FINDINGS 87
1. RESEARCH BACKGROUND - AN OVERVIEW OF FDI ENVIRONMENT
IN VIETNAM AND THE UNITED STATE .87
1.1. General investment environment of Vietnam 87
1.1.1. Politic environment 87
1.1.2. Geographic and Infrastructure environment 89
1.1.3. Economical and Financial Environment 92
1.1.4. Institutional and Administrative Management environment .95
1.1.5. Labor environment .96
1.2. Trend of FDI attraction in Vietnam 98
1.2.1. Economic growth forecast for Vietnam .98
1.2.2. Comments about FDI from the U.S in Vietnam during 2013 – 2020 99
1.3. POLICIES OF THE U.S ON ABROAD INVESTMENT 102
1.3.1. Summary of the United States .102
1.3.2. Practice of FDI from the US in Vietnam .110
2. RESULTS OF SURVEY ON FDI ENVIRONMENT IN VIETNAM .119
2.1. Foreign Enterprise’s Assessement .120
2.1.1. Process of receiving a project under OSS (One-Stop-Shopping) mechanism
2.1.2. Infrastructure 121
2.1.3. Investment supporting policy .121
2.1.4. Rapid work clearance .122
2.1.5. Ensurement of supplying raw materials, supporting industries .122
2.1.6. Review of foreign investors about the attractiveness for FDI .123
2.2. The State administrator’s assessement .125
2.2.1. Politic evironment 125
2.2.2. Institutional and management environment .126
2.2.3. Geographic and infrastructure environment .127
2.3. Foreign investor’s assessement 128
2.3.1 Evaluating the reliability of statistic data 128
2.3.2. Descriptive statistics 134
2.3.3. ANOVA analysis .135
2.3.4. Hypothesis Testing 139
2.3.5. Factor analysis on regression model 142
CHAPTER 5 .147
CONCLUTIONS AND RECOMMENDATIONS . .147
1. CONCLUSIONS 147
2. RECOMMENDATION FOR ATTRACTING THE U.S FDI .150
2.1 Shorterm solutions .151
2.1.1. Politic environment 151
2.1.2. Institutional- Administrative Management 151
2.1.3. Geographic- Infrastructure .153
2.1.4. Economic- Finance 155
2.1.5. Solutions related to human resources 159
2.2. Longterm solutions .160
2.2.1. Promote the development of supporting industries .160
2.2.2. Continuing negotiation, conclusion and implementation of the Trans-Pacific
Partnership Agreement (TPP) 161
2.2.3. Develop specific policies to attract capital and technology from the MNC 162
2.2.4. Strengthening information and communication, policy and advocacy for the
country to invest overseas 163
Vietnamese references .166
English references 168
Websites 168
REFERENCES - 216 -
INTRODUCTION
Backgroundof theStudy
Foreign direct investment (FDI) is a popular concept that a host country have
imvestement from foreign companies to produce goods or supply service in its national
boundary. The FDI is significant capital and technical source of economic growth. This
is also characteristic clearly of globalization. Beside that FDI is not only providing of
investment capital and technology, it is also providing of managerial and technological
skills, job creation, infrastructure upgrading for host country. It is proved in practice
that an important that, an economic isolation is closed road, especially in circumstance
that trend of globalization and integrate of international economic . In order to attract
foreign investors, especially numerous FDI inflows from Multinational Enterprises
(MNEs) and big economies, many Governments have been developing and changing
their traditional or transitional economies by designing and executed relevant policies to
open environment for FDI.
In Vietnam, FDI is an important source to help restructure and increase the
competitiveness of the economy since the middle of 1980s when Vietnam began to
apply new ecomomic mechanism called as “Doi Moi” and known as “open-door
policy”. FDI has become an important factor of economy of Vietnam in the context of
deep integration with the world economy and globalization trends. During period of 36
years in attracting foreign investment Vietnam have gained significant success. In this
context, Vietnam has launched several measures, open-door policy change, rapidly
improving environment to attract foreign investment in order to face to the decline of
inflows of foreign direct investment and new developments of the globalization process.
The change in financing and banking policy, labor force administration, especially
impoving geographical and infrastructure factors in the direction of increasing favor
for foreign investors by the Vietnam Government, have been considered as an urgent
measure to increase the attractiveness for FDI. Despite achieving certain results, it is
said that Vietnam did not make best use of opportunities to attract FDI and not gain the
maximum benefits that foreign direct investment can bring, especially the FDI inflow
of investors from the major economies such as the U.S., Europe and Japan. Besides, the
application of geographical and infrastructure advantage in attracting foreign direct
investment in Vietnam, especially finacial and banking elements are limited, and not yet
achieved as desired target.
Statementof theProblem
Foreign direct investment (FDI) is one of remarkable activities in the
international economics integration and globalization for many decades. Attracting
FDI is important for economic development not only for poor, development countries
but also developed countries.
Today, almost countries promote actively FDI attractiveness to provide
employment, income increase or to take high and innovational technologies,
management skills. FDI also helps to penetrate the market of other countries. Vietnam
is also in the trend and needs to improve the quality of FDI projects by creating
favorable policies for hi-tech projects and those which suit the country’s socioeconomic
development strategy.
Vietnam achieved a long progress for creating propitious investment
environment since 1987 when Investment Law established. Foreign Direct Investment
plays an important role in the Vietnam economy (25% total social investment);
stimulating and improving efficient use of domestic resources, increasing exports
(exports in 2012 in national investment sector reached 72.2 billion U.S. dollars,
accounting for 55.9% of total exports in 2012) . FDI has contributed significantly to
national revenues (USD 14.2 billion in the period from 2001 to 2010 and contributes
about $ 3.7 billion 2012), contributing to create 2 million jobs directly and around 3-4
million jobs indirectly1. Until 31/12/2011, there are 14,552 FDI projects with a
registered capital of more than 210.5 billion USD. In which, FDI from USA has 648
projects and reached 10.507 billion USD, ranking the 7th of 100 countries and regions
investing into Vietnam2. This illustrated that USA is one of the top-ranking investors of
Vietnam.
However, FDI capital from USA in Vietnam is not in accordance with available
economic condition of two countries and also comparative advantage of each.
Moreover, while attracting FDI from USA, Vietnam has good opportunities for
receiving hi-tech project, innovative management experiences of MNC that suit to
policies’ selective FDI attraction of Vietnamese government. That’s motive to improve
investment environment to for attract direct investment into Vietnam from United
States in some coming years.
To attract FDI into Vietnam from the United States associated with original
technology transfer, modern technology, in the context of increasing competition for
FDI attraction and especially in the context of the economy of many countries in the
world is in crisis, recession that requires Vietnam to actively improve the investment
environment to create a favorable investment environment for FDI activities. However,
the investment environment in Vietnam has still some negative barriers for attracting
and using FDI as weak economic infrastructure, appropriate and qualified professional
human resources, complex administrative procedures
Therefore, research is needed to find appropriate solutions to improve the
investment environment to attract and effective use of FDI, particularly FDI attraction
associated with original technology transfer, advanced management experience from
the U.S. MNCs for growth and sustainable development objectives. To help achieve the
mentioned objectives above, it is needed to study the theme: “Environment factors for
foreign direct investment for American business corporation in three main
commercial centers of Vietnam”. This study shall answer for following questions:
1. How does political environment of Vietnam affects to the US. FDI attraction?
2. How does governmental administrative environment of Vietnam affects to the
US. FDI attraction ?
3. How does infrastructure- location factor of Vietnam affects to the US. FDI
attraction ?
4. How does economic and financial mechanism of Vietnam affects to the US.
FDI attraction ?
5. How does labor factor of Vietnam affect to the US. FDI attraction ?