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FOREIGN TRADE UNIVERSITY FACULTY OF ECONOMICS AND INTERNATIONAL BUSINESS - GROUP ASSIGNMENT (Statistics for Business and Economics) VIETNAM’S FOREIGN DIRECT INVESTMENT INFLOWS Members Supervisor : Nguyen Le Anh 0951050002 Le Cong Hoan 0951050071 Bui Quang Huy 0951050063 Nguyen Minh Quang 0951050138 Tran Vu Trung 0951050152 : Ms Dao Minh Anh, MBA Hanoi, 2011 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA TABLE OF CONTENTS ABSTRACT ACKNOWLEDGEMENTS LIST OF ABBREVIATIONS INTRODUCTION 1.1 Reasons for choosing topic 1.2 Objectives 1.3 Brief information about Foreign Direct Investment (FDI) 1.3.1 Definition 1.3.2 Different types of FDI CONTENT 2.1 Graphical analysis: Vietnam’s Foreign Direct Investment inflows 2.1.1 The year 2005 2.1.2 The year 2006 2.1.3 The year 2007 2.1.4 The year 2008 2.1.5 The year 2009 2.1.6 The year 2010 2.2 Statistical analysis: The amount of Foreign Direct Investment inflows over the last 10 years 2.2.1 Descriptive analysis 2.2.1.1 The arithmetic mean 2.2.1.2 The mean of a frequency distribution 2.2.1.3 The Median 2.2.1.4 Median for a frequency distribution: 2.2.1.5 The Mode and other measures of location 2.2.1.6 Measure of dispersion and Skewness 2.2.1.7 Skewness 2.2.1.8 Standard deviation 2.2.2 Inferential analysis 2.2.2.1 Regression analysis 2.2.2.2 Time series analysis CONCLUSION 3.1 Recommendations 3.1.1 Improvement in law and administrative system 3.1.2 Supports for potential industries 3.1.3 Enhancement of financial market 3.2 Summary REFERENCES 4.1 Hyperlinks 4.2 Other sources Faculty of Economics and International Business Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA ABSTRACT Over the last 20 years of Doimoi (Innovation), Vietnam has made a number of miracle socio-economic achievements The average annual economic growth rate was 7.3 percent and gross domestic product (GDP) per capita increased by 5.7 percent over the period 19902004 Concurrently, poverty rate reduced sharply from 80 percent in 1986 to approximately 29 percent in 2002 For the last decade, Vietnam has always belonged to the rapid growing economies group, having success in hunger eradication and poverty reduction The promising achievements of the country resulted from the policies the Vietnam has been undertaking in such a fast changing global economy Since the late 1980s, the country has advocated economic integration, promulgating the Law on Foreign Investment in 1987, signing a number of bilateral and multilateral trade agreements Vietnam gradually became a member of regional and international economic organization, namely ASEAN, APEC and ASEM in 1995, 1998 and 2001, respectively Another important trade agreement is the Vietnam-US Bilateral Trade Agreement The most recent one is the accession to the World Trade Organization (WTO) Faculty of Economics and International Business Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA Additionally, to reach more open trade policy, Vietnam has robustly improved the investment environment, particularly the legal framework, to attract foreign direct investment (FDI) The country has signed bilateral agreements on investment promotion and protection with 45 countries and territories The government’s efforts to attract FDI inflows have hade regarding results By December 2004, Vietnam had attracted 6072 projects with the total registered capital of nearly 49.2 billion US dollars The foreign invested sector has contributed roughly 14 percent to the country’s GDP in 2004 Besides, the sector has also offered a great number of jobs, increased export turnover, shifted domestic economic structure and raised the state budget FDI may affect variety aspects of the economy including economy, culture and the society Nevertheless, towards developing countries, particularly poor countries, FDI plays a key role in facilitating economic growth The key role of FDI would be evidenced by the following three reasons Firstly, FDI inflows increase capital surplus, improving the balance of payment and macroeconomic stability Secondly, FDI support domestic investment in order to reach target growth rate Thirdly, FDI provides poor countries with chances to access modern technology, intellectual as well as management and labor skills Faculty of Economics and International Business Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA Developed countries have acknowledged the critical function of Foreign Direct Investment in developing the economy Therefore, since the ancient time of FDI, such countries have focused on attracting this lucrative capital flows However, when the market in developed countries has been saturated, foreign investors are now seeking for emerging economies, particularly the Asia Vietnam, a developing country, is regarded as a hope land for foreign investors The last decade witnessed a surge in the FDI inflows in to Vietnam economy Correspondingly, we would like to write this paper to analyze the statistics related to FDI inflows over the last ten years Moreover, the statistical methodologies used may help you to have a general look on FDI allocation as well as estimation in the year to come We also include some policy recommendations for attracting FDI in near future We hope that you could find needed information connected to Foreign Direct Investment in our paper ACKNOWLEDGEMENTS The assignment was completed by invaluable contribution of many people Firstly, we would like to express our many thanks to Ms Dao Minh Anh, Master Faculty of Economics and International Business Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA of Business Administration, for her precious instructions, corrections, comments, criticism, suggestions and her assistance during the development of this assignment under her supervision We want to demonstrate our gratitude to Mr Phan Minh Tan, member of Ministry of Planning and Investment for his valuable help to access the latest data sources We want to show our appreciation to our group members for their time and efforts in the making of this paper Finally, we also would like to convey our thanks to all of our friends for their constructive discussions, suggestions and timely assistance Faculty of Economics and International Business Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA LIST OF ABBREVIATIONS AFTA APEC ASEAN ASEM CIEM EU FDI GDP GSO JETRO MFN MPI R&D SMEs SOEs TSLS UNCTAD UNDP USD WTO Asean Free Trade Area Asia Pacific Economic Cooperation forum Association of South East Asian Nations Asia Europe Meeting Central Institute for Economic Management European Union Foreign Direct Investment Gross Domestic Products General Statistics Office Japan External Trade Organization Most Favored Nation Ministry of Planning and Investment Research and Development Small and Medium Enterprises State-Owned Enterprises Two Stage Least Squares United Nations Conference on Trade and Development United Nations Development Program US dollar World Trade Organization Faculty of Economics and International Business Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA INTRODUCTION 1.1 Reasons for choosing topic Our world is standing at the threshold on globalization, which promises a lot of changes both widely and deeply in many aspects The effects of globalization process with the appearance of many multi nation companies all over the world Moreover, technology innovation also becomes a motivation which encourages all society “run” faster Specialization as well as corporation nowadays become more and more popular and help increase the Gross Domestic Product (GDP) So that, it is reasonable to say that we are living in the era of quick changes in economy, technology and politics Therefore, to integrate sharply into the world economy, almost all countries which includes Vietnam have to realize these changes and find suitable solutions to adopt; so that; not “out of the race” Vietnam has no choice but open the economy, corporate with many countries in the world As consequences, Vietnam recently did join in the World Trade Organization as well as many other trade area like ASEAN Free Trade Area (AFTA), Asian-Pacific Economy Corporation (APEC); On December 19th 1987, our National Assembly did pass the law that allows organizations and individuals from foreign countries invest into Vietnam Since then, a huge amount of Foreign Direct Investment (FDI) inflows have run into Vietnam territory It creates a lot of jobs for Vietnamese employees, encourages technical changes and becomes an important contributor to the recent high economy growth rates of Vietnam Aware of the importance of the FDI to the Vietnam Economy, we decide to choose this topic 1.2 Objectives Investment is the sacrifice of current resources for the future development to execute certain economic Faculty of Economics and International Business Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA activities Investment aims at gaining bigger future benefits Therefore, investment is the motivation for future development and the higher development rate means the higher level of investment So, it is natural that government and national residents are very concerned about how huge the investment level is Recently, Vietnam, together with China and some other Asian countries, is considered to be one of the top developing countries in the world with the growth rate is always about 6-7% per year and these results are very thanks to the high level of investment Government did try to use of all national resources and take advantage of international resources Especially, after being a member of WTO, the role of international resources which includes FDI (Foreign Direct Investment) seems to be more important because FDI encourages other forms of international resource inflows into Vietnam When international organizations invest into Vietnam, they bring foreign currencies, they bring new technologies and administration strategies as well as they create jobs for millions of employees Besides that, high FDI inflows also ensure for national security as it increases national reservations During this time, many have been discussed on the newspapers and on many other media about low foreign currency reservation of Vietnam Many say Vietnam reservation is just enough for 03 weeks and this causes a fact that Vietnam may have to devaluate national currency many times to compensate for the loss on international trade and to buy necessary goods like petrol or electricity This not only makes Vietnam’s economy become very dependable on other countries but also threats national residents’ living standards It is hard to find suitable solutions in term of macro administration for current situation because Vietnam still has to import a lot of inputs for production However, compensation can be made if Vietnam government can attract the FDI into Vietnam Faculty of Economics and International Business Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA Therefore, FDI is very important to Vietnam’s economy and how to attract FDI inflows as well as improve the quality of FDI inflows are the two hot topics In this assignment, we are trying to take data from National Bureau of Statistics and using statistical techniques like arithmetic mean, the median, mode and other measures for location, standard deviation,… to categorize, analyze on these data and we hope that it will provide a brief view on the current FDI of Vietnam Our further expectation is to use these data for prediction the FDI of Vietnam in the following years Regression Equation and Time series analysis will be useful for this aim Some recommendations related to the ways to attract more FDI inflow and improve the quality of FDI can also be originated from this assignment 1.3 Brief information about Foreign Direct Investment (FDI) 1.3.1 Definition Foreign direct investment (FDI) plays an extraordinary and growing role in global business It can provide a firm with new markets and marketing channels, cheaper production facilities, access to new technology, products, skills and financing For a host country or the foreign firm which receives the investment, it can provide a source of new technologies, capital, processes, products, organizational technologies and management skills, and as such can provide a strong impetus to economic development Foreign direct investment, in its classic definition, is defined as a company from one country making a physical investment into building a factory in another country The direct investment in buildings, machinery and equipment is in contrast with making a portfolio investment, which is considered an indirect investment In recent years, given rapid growth and change in global investment patterns, the definition has been broadened to include the acquisition of a lasting management interest in a company or enterprise outside Faculty of Economics and International Business 10 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA numbers Because of the way it is defined, it takes little account of extremes and is occasionally used as an alternative to the arithmetic mean The Harmonic Mean The Harmonic Mean is another specialized measure of location used only in particular circumstances; namely when the data consists of a set of rates, such as prices, speeds or productivity It is defined as the reciprocal of the mean of the reciprocals of the item values Symbolically, the harmonic mean of x1 , x2 , , xn is given by: n HM = ∑x Characteristics of the Mode a, Occasionally used as an alternative to the mean or median when the situation calls for the most popular value to represent some data b, Easy to understand, not difficult to calculate and can be used when a distribution has open-ended classes c, Although the mode usefully ignores isolated extreme values, it is thought to be too much affected by the most popular class when a distribution is significantly skewed d, Sometimes it will neither: - Not exist, as will be the case if a set of items all have different values - Not be unique, as is the case when two or more values occur equally frequently or a distribution has more than one hump at the same height e, Unlike the mean and median, the mode has no natural measure of dispersion to twin with, which is a particular disadvantage in most cases where further analysis is required Faculty of Economics and International Business 32 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA f, Like the median, the mode is not used in advanced statistical work 2.2.1.6 Measure of dispersion and Skewness Measures of dispersion Measures of dispersion describe how spread out or scattered a set or distribution of numeric data is There are different bases on which the spread of data can be measured a) Spread about the mean This is concerned with measuring the distance between the items and their common mean There are two measures of this type employed: i the mean deviation ii the standard deviation b) Central percentage spread of items These measures have links with the median i The 10 to 90 percentile range ii The quartile deviation c) Overall spread of items The range The range is the simplest measure of dispersion available in statistical analysis The range is defined as the numerical difference between the smallest and largest values of the items in a set or distribution Thus the range can be calculated as largest value minus smallest value As we have data (FDI inflow from 2001 to 2010) 2001 1300 2002 1400 2003 1450 2004 1610 2005 1954 2006 2400 2007 6700 2008 9579 2009 7600 The range of values for FDI inflow from 2001 to 2010 is The largest value (16340 in 2010) – the smallest value (1300 in 2001) = 15040 million USD Faculty of Economics and International Business 33 2010 16340 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA Comment: In period of 10 latest years, we have suffered a wild fluctuation, which means that Vietnam attracts more Foreign Direct Investment from abroad FDI in 2010 is 12 times larger than in 2001 That was incredible number as we expected 10 years ago The mean deviation The mean deviation is a measure of dispersion that gives the average absolute difference (i.e ignoring ‘-’ signs) between each items and the mean The mean deviation (md) is calculated through the use of the following formulae Mean deviation: − For a set: md = ∑ x−x n − For a frequency distribution: md = ∑ f x−x ∑f As we have data (FDI inflow from 2001 to 2010) 2001 1300 2002 1400 2003 1450 2004 1610 2005 1954 2006 2400 2007 6700 2008 9579 2009 7600 We know that Mean of FDI = 5033.3 The mean deviation of FDI inflow is − md = ∑ x−x n − = − ( x1 − x ) + ( x10 − x ) 10 = (1300 − 5033.3) + (16340 − 5033.3) 10 = 4017.16 million USD Comment: The mean deviation can be regarded as a good representative measure of dispersion that is not difficult to understand It is useful for comparing the variability between distributions of like nature As the mean deviation of FDI inflow is 4017.16, we can see that there Faculty of Economics and International Business 34 2010 16340 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA has been a large discrepancy between each variable (FDI for each year) and mean value 2.2.1.7 Skewness Skewness described an approximate relationship between the mean, median and mode for moderately skewed distributions and it is this relationship that enables a simple measure of skewness to be derived If the distribution is skewed to the right then the mean is greater in value than the mode (and versa) Thus the numerical difference between the values of the mean and the mode will be an indicator of the degree of skewness The direction of skew is determined by the position of the long tail of the distribution, thus if the long tail is to the left, then the distribution is said to be left or negatively skewed Comment: From picture below, we can observe the distribution of FDI over 10 years FDI distribution normally has left skewed, due to the fact that there will be low FDI in the first years and much higher FDI in the latest year 2.2.1.8 Standard deviation Faculty of Economics and International Business 35 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA The most commonly used measure of dispersion is the standard deviation, which is an adaptation of the mean deviation The standard deviation is first described for a set, then special computational formulae are given for both a set and a frequency distribution Finally, a special measures based on the standard deviation are given, a relative measure of dispersion called the coefficient of variation Standard deviation − Standard deviation for a set of values s = ∑ ( x − x )2 n In this case, we have that: − s= ∑ ( x − x) n − _ ( x1 − x )2 + ( x10 − x ) = 5010.93 = 10 million USD Or we have another formula: s= ∑x n − − x =5010.93 million USD Comment: The standard deviation of FDI over 10 years equals to 5010.93, which is a large number of dispersion as the mean deviation predicted The coefficient of variation It is sometimes necessary to compare different distributions with regard to variability However, the standard deviation is used as a measure for comparison only when the units in the distributions are the same and the respective means are roughly comparable In the majority of cases where distributions need to be compared with respect to variability, the following measure, known as the coefficient of variation, is much more appropriate and is considered as the standard measure of relative variation cv = SD × 100% mean Faculty of Economics and International Business 36 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA In this case, coefficient of variation of FDI over 10 year is cv = SD 5010.93 × 100% = × 100% = 0.995555 mean 5033.3 Comment: Since the standard deviation is being divided by the mean, the actual units of measurement cancel each other out, leaving the measure unit-free and thus very useful for relative comparison We have cv is about 1, this means that the variability of FDI over 10 years is not significant and we have exaggerate the figure in the previous parts 2.2.2 Inferential analysis 2.2.2.1 Regression analysis Regression is a technique used to describe a relationship between two variable mathematical terms In other words, regression is concerned with obtaining a mathematical equation which describes the relationship between two variables The equation can be used for comparison or estimation purposes And to analyze the FDI inflows in Vietnam in recent years, we need to use the regression techniques especially the regression line The following part will calculate the prediction of FDI inflows in There are three methods commonly used to fit a regression line to a given set of bivariate data +Inspection: This is the simplest and consists of plotting a scatter diagram for the relevant data and then drawing in the line that most suitably fits the data +Semi-averages: The technique consists of splitting the data into two equal groups plotting the mean point for each group and joining these two points with a straight line +Least squares: This is considered to be the standard method of obtaining a regression line The derivation of the technique is mathematical and while examination boards not require students to derive Faculty of Economics and International Business 37 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA the formulae used in obtaining the least squares line, they expect students to have an idea of its basis Linear least squares regression has earned its place as the primary tool for process modeling because of its effectiveness and completeness Though there are types of data that are better described by functions that are nonlinear in the parameters, many processes in science and engineering are well-described by linear models This is because either the processes are inherently linear or because, over short ranges, any process can be well-approximated by a linear model The estimates of the unknown parameters obtained from linear least squares regression are the optimal estimates from a broad class of possible parameter estimates under the usual assumptions used for process modeling Practically speaking, linear least squares regression makes very efficient use of the data Good results can be obtained with relatively small data sets Finally, the theory associated with linear regression is well-understood and allows for construction of different types of easily-interpretable statistical intervals for predictions, calibrations, and optimizations These statistical intervals can then be used to give clear answers to scientific and engineering questions In regression model that used in analyzing the FDI inflows in Vietnam from 2005 to 2010, we will use the least squares techniques with two variables: independent variable (year) and dependent one (amount of FDI) Here is the regression equation that we used to predict the future value of FDI based on the recent figures: In which: b1 x y ∑ xy − ∑ n∑ = ( x) ∑x − ∑ 2 or b1 = xy − x y σ x2 n Faculty of Economics and International Business 38 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA b0 = y − b1 x Here, we assumed that in 2005, x=1; in 2006, x=2… and y = amount of FDI inflows in the same year: Year 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 x 10 y 1300 1400 1450 1610 1954 2400 6700 9579 7600 16340 Using the regression technique, we can calculate that b1= 1429.88 b0= -2822.07 and then, we can estimate the future value of y (amount of FDI) if x=11 (in 2011): ŷ= b1x + b0 ≈ 12907 (million dollars) This result means that the trend of FDI inflows in 2011 should be about 12907 million dollars 2.2.2.2 Time series analysis Another analysis technique that we can use to estimate the future value of FDI is “Time series analysis” Time series is the name given to numerical data that is described over a uniform set of time points Time series analysis is the evaluation and extraction of the components of a model that break down particular series into understandable and explainable portions and enables trend to identified, extraneous factors to be eliminated Faculty of Economics and International Business 39 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA and forecasts to be made There are three techniques that can be used to extract a trend from a set of time values: +Semi-averages: is the simplest technique, involving the calculation of the averages which, when plotted on a chart as two separate points and joined up for a straight line +Least squares regression: same as regression method + Moving averages: is the most commonly used method for identifying a trend and involves the calculation of a set of averages The trend, when obtained and charted, consists of straight line segments As we have used the least squares method in the above part and the moving average is usually suitable for the seasonal variation, we will use the semi-averages to estimate the amount of FDI in Vietnam in 2011 The data has been split into a lower group and an upper group as follow: x Lower x Upper 1300 2400 1400 6700 1450 9579 1610 7600 1954 10 16340 Now we’ll plot on a graph each mean against an appropriate time point and the line connecting two plotted points is the trend of FDI: (Note that an appropriate time point can always be taken as the median time point of the respective group) Faculty of Economics and International Business 40 Mean 1542.8 8523.8 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA The trend values corresponding to each time point can be read off the graph and when x=11 (in 2011), the approximate FDI inflow should be around 13000 Comparing with the result in the regression analysis with least squares technique, we can conclude that the FDI inflows in Vietnam in 2011 can be estimated around 12907 million dollars CONCLUSION 3.1 Recommendations From the above data as well as regression equation and time series analysis, we can conclude that the Foreign Direct Investment inflow into Vietnam is huge but the quality of FDI should be reconsidered World Crisis in the year of 2007 became an obstacle to FDI inflow as investors have tendency to invest money in their own countries so as to help their economies recover from the crisis So that, to attract more FDI, Vietnam has to try to minimize its weaknesses and enlarge its strengths Also, Vietnam government should have a suitable strategy that create good environment for foreign firms to invest into Vietnam In this assignment, we suggest some recommendation in details that, in our opinion, may be good solutions for FDI inflow of Vietnam 3.1.1 Improvement in law and administrative system Many investors comments that Vietnam‘s offices and agencies cause them a lot of difficulties on accepting their investment plan So, it is urgent that Vietnam government can cut down a lot of complex procedures Some solutions here are applying one-door office which Faculty of Economics and International Business 41 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA means that investor only have go to one agency to get the certificate Moreover, applying information system all over the country may also be a good idea Instead of waiting for many weeks, spending a lot of money on transportation, foreign investors can just stay in their office and register on the internet Many investors also worry about the corruption of Vietnam administrative system Without money or gifts for the leaders of some agencies, they will not be able to get the certificate This leads to a fact that, although many foreign investors aware of Vietnam’s comparative advantages, they still choose China or Thailand as the destination for their money So that, Vietnam’s law systems should be tightened to eliminate this issue 3.1.2 Supports for potential industries In many historical economic theories, one country only has comparative advantage in some industries They cannot use the resources to produce all goods The effects of the diseconomies to scale and the specialization may be a loss to the economy So, it is clear that every country should focus on some industries and their resources including FDI should also focus on them only Vietnam government determines information, steel, etc industries will be our key industries in the future so that FDI inflows should be directed to these industries Besides the benefits of specialization, it also helps increase the ICOR of Vietnam, improve the image of Vietnam industries and attract even more FDI 3.1.3 Enhancement of financial market Financial market is a channel funding the economy Every transaction in the economy needs financial market for execution When a foreign firm invests into Vietnam, they have to transfer money from international banks into Vietnam Therefore, a good financial market will allow them to invest more efficiently Faculty of Economics and International Business 42 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA The question here is how to improve the financial market First of all, Vietnam government should allow various forms of financial tools Risks will be lower and the functions of channeling fund will be stronger Second, a strict control on banking system will help increase the liquidity of the foreign asset 3.2 Summary Some of the kinds of policy reforms proposed above are gradually occurring In addition, various economic reform and business liberalization commitments that Vietnam has already made – such as those under the ASEAN Investment Area (primarily relating to national treatment issues), conditions set as part of the current IMF lending program, and the US bilateral trade deal (which is much more than just a trade deal) – according to agreed timetables, will help promote the sorts of positive changes to the host country business environment that will be welcomed by foreign (and local) investors So to some extent at least, the sort of FDI promotion policy agenda that has been proposed above is already in train However, improved coordination and promotion of these various initiatives could be expected to improve their impact on FDI inflows The Southeast Asian countries have tended to adopt a broadly similar template in their FDI strategies, and while it would undoubtedly be sensible to follow the ‘best practice’ of a country like Singapore, which has an enviable track record in the field of FDI promotion, there is also merit in seeking to identify new and innovative ways of encouraging foreign investment Policies that excite and stimulate the creative and entrepreneurial instincts of foreign investors may well be rewarded with greater FDI inflows, despite the presence of some obstacles In short, Vietnam might be well-advised to consider re-inventing elements of its current strategy towards foreign investment and the host country business environment it offers foreign investors Faculty of Economics and International Business 43 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA This assignment is created by our greatest effort that aimed at providing you the most specific view on FDI inflows in Vietnam We hope that you would likely find out needed information and answers related to such flashpoint in our text REFERENCES 4.1 Hyperlinks http://www.vietpartners.com/statistic-fdi.htm http://news.gov.vn/Home/New-trends-in-FDIinflow/20114/10345.vgp http://vietnambusiness.asia/fdi-inflows-to-vietnamshift-to-energy-water-air-conditioning-projects/ http://vietnambusiness.asia/fdi-inflows-into-vietnamrebound/ http://en.baomoi.com/Info/Vietnam-2010-FDIinflows-up-at-11-bln/5/96861.epi http://ideas.repec.org/p/pra/mprapa/1921.html http://vietpartners.wordpress.com/2008/07/26/fdistatistics-in-first-half-year-2008/ http://www.vdclawyer.com/index.php? option=com_content&view=article&id=162%3Aover view-fdi&catid=53%3Adai-dien-doitac&Itemid=202&lang=vi http://www.vidgroup.com.vn/c-tin-tuc/b-chinh-sachuu-dai/111au-tu-truc-tiep-nuoc-ngoai-tai-viet-namnam-2009-va-trien-vong-nam-2010 Faculty of Economics and International Business 44 Statistics for business and economics: Vietnam’s Foreign Direct Investment Inflows Supervisor: Ms Dao Minh Anh, MBA 10 http://f-news.f-network.net/News1497.f-net 11 http://www.tinkinhte.com/nd5/detail/tai-chinh-dautu/phan-tich-nhan-dinh/dau-tu-truc-tiep-nuoc-ngoaitai-viet-nam-ke-di-nguoi-o/43689.123131.html 4.2 Other sources Freeman, Nick J “Foreign Direct Investment in Cambodia, Laos and Vietnam: A Regional Overview” Paper presented at the Conference on Foreign Direct Investment: Opportunities and Challenges for Cambodia, Laos and Vietnam 16-17th August 2002, Hanoi Freeman, Nick J and Curt Nestor “FDI in Vietnam: Fuzzy Figures and Sentiment Swings”, in Re-thinking Vietnam, edited by Duncan McCargo London: Routledge, forthcoming 2002 Iboshi, Pearl Imada and Michael G Plummer Direct Foreign Investment and Development in ASEAN Honolulu: East-West Center Working Papers, No 3, September 1994 Lall, Sanjaya ‘FDI and Development: Research Issues in the Emerging Context’ Paper presented at the Asian Development Forum, Singapore, 5-8 June 2000 [www.worldbank.org/wbi/wbiep/adf/papers/lall2.pdf] Faculty of Economics and International Business 45 TABLE OF MEMBER ASSESSMENT Numbe r Name Strengths Weaknesses He/ she works effectively He/ she suggests ideas He/ she cooperates with others He/ she involves in making group plan BUI QUANG HUY (GROUP LEADER) ARROGANT, INFERIORITY COMPLEX 60% - 90% agree 60% - 90% agree 60% - 90% agree 60% - 90% agree LE CONG HOAN LOGICAL THINKING, CRITICAL THINKING, COMPUTER LITERACY HARDWORKING, CAREFUL LACK OF CREATION 60% - 90% agree 60% - 80% agree 60% - 90% agree 60% - 90% agree NGUYEN LE ANH ACTIVE, HARDWORKING ORGANIZING SKILLS 60% - 90% agree 60% - 80% agree 60% - 90% agree 60% - 90% agree NGUYEN MINH QUANG TO MAKE THE THING IN DETAIL 60% - 90% agree 60% - 85% agree 60% - 90% agree 60% - 90% agree TRAN VU TRUNG KEEN ON LEARNING NEW THINGS, HARDWORKING TALKATIVE WORDY, SOMETIME DO NOT FOCUS ON THE MAIN POINT 60% - 90% agree 60% - 80% agree 60% - 90% agree 60% - 90% agree ... Supervisor: Ms Dao Minh Anh, MBA Therefore, FDI is very important to Vietnam’s economy and how to attract FDI inflows as well as improve the quality of FDI inflows are the two hot topics In this assignment,... decade witnessed a surge in the FDI inflows in to Vietnam economy Correspondingly, we would like to write this paper to analyze the statistics related to FDI inflows over the last ten years Moreover,... key role of FDI would be evidenced by the following three reasons Firstly, FDI inflows increase capital surplus, improving the balance of payment and macroeconomic stability Secondly, FDI support
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