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VIETNAM ACADEMY OF SOCIAL SCIENCES GRADUATE ACADEMY OF SOCIAL SCIENCES NGUYEN DUY LINH THAO FOREIGN DIRECT INVESTMENT (FDI) IN KIEN GIANG PROVINCE IN THE NEW CONTEXT Major: International Economics Code: 31 01 06 SUMMARY OF ECONOMIC DOCTORAL THESIS HA NOI – 2022 The work was completed at : VIETNAM ACADEMY OF SOCIAL SCIENCES GRADUATE ACADEMY OF SOCIAL SCIENCES Scientific Supervisors: Assoc Prof, Dr Bui Quang Tuan Assoc Prof, Dr Do Phu Tran Tinh Review 1: Assoc Prof, Dr Ha Van Hoi Review 2: Assoc Prof, Dr Phan Tran Trung Dung Review 3: Assoc Prof, Dr Lưu Ngoc Trinh The thesis will be defended at the Academy-level Thesis Judging Council, Graduate Academy of Social Sciences, 477 Nguyen Trai St, Thanh Xuan Dist, HaNoi City At ……., , th , 2022 Specifically, find out the thesis at : - National library - Graduate Academy of Social Sciences’s library INTRODUCTION Necessity of the project In the early years of the twenty-first century, although the trend of liberalization and globalization continued, there were many obstacles Protectionism emerged in some areas In addition, there are a number of important events in the world that can change the world economic order that has existed in the past few decades The US-China trade war is not over yet; The European Union (EU) is divided after the Brexit process; The conflict between Russia and Ukraine changed the situation in Europe… The global economic center is tending to shift to the Asia-Pacific region Such situations affect the investment environment significantly Therefore, foreign direct investment (FDI) economic groups are making necessary adjustments on a global scale This is an opportunity for emerging countries when investment flows are being restructured Since Doi Moi, Vietnam has actively integrated into the world economy and integration has become an important factor for its relatively high growth results over a long period of time Vietnam has signed many bilateral and multilateral trade agreements, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), and the Vietnam-EU Free Trade Agreement (EVFTA), the UK-Vietnam Free Trade Agreement (UKVTFA), which are new generation FTAs that are bringing new opportunities for more FDI inflows In addition to policies and programs to facilitate the investment environment, Vietnam has ensured a stable macroeconomic and political environment, creating confidence for foreign investors In particular, Vietnam has adapted well in controlling the Covid-19 epidemic, creating a significant advantage in the competition for FDI inflows in the region In 2021, registered FDI capital reached 31.15 billion USD, up 9.2% whilst realized capital reached 19.74 billion USD Vietnam is the third largest recipient of FDI in the region and one of the ASEAN countries that has maintained stable FDI inflow growth over the years The FDI sector until 2021 has accounted for about 25% of total social investment capital, 55% of total industrial production value FDI enterprises account for more than 70% of export turnover, contributing to the transformation of export structure from raw materials and minerals to processing and manufacturing industries with high added value However, many localities with many available extremely favorable conditions are very attractive to FDI inflows for local socio-economic development, but they have not yet promoted their full potential and have not taken advantage of FDI capital flows Therefore, FDI in some localities is still very limited, mainly concentrated in a few localities such as the Southeast region, the Red River Delta, the central region, notably Da Nang city In the Mekong Delta, only Long An province is significant - ranking 12/63 in the country in terms of FDI inflows FDI inflows into Kien Giang province are facing many limitations The situation of FDI inflows shows that, if calculated cumulatively, the projects valid until December 20, 2020 of Kien Giang are 62 projects with a total registered capital of over $4.8 billion, ranking 20th in Vietnam and 2nd in the Mekong Delta in terms of FDI Regarding investment partners, there are 19 countries and territories present in Kien Giang, investing in fields such as tourism, agriculture, processing industry, manufacturing, trade and service Meanwhilst, Kien Giang has many outstanding advantages in terms of natural conditions, great potential for economic development, especially in tourism economy such as Phu Quoc island; islands, archipelagos and many coastal areas can develop green cities, smart cities, model cities, processing industries, agriculture, fisheries Besides the modest FDI inflows, the trend of FDI inflows into Kien Giang has shown signs of slowing down recently Thus, there must be many reasons affecting FDI inflows into the province These causes have not yet been thoroughly evaluated In addition, there have not been many in-depth studies and evaluations of FDI inflows into Kien Giang as well as limitations and inadequacies in FDI inflows into the locality, especially from the perspective of policy institutions This is a big gap in research so that there can be proposed policy solutions to promote FDI inflows into Kien Giang, taking advantage of Kien Giang's coastal and islands Therefore, studying FDI in Kien Giang is a very urgent issue to help detect factors that are barriers, restraints or potential to create motivation for foreign direct investment inflows into Kien Giang province With that in mind, the PhD student chooses the topic "Foreign Direct Investment (FDI) in Kien Giang Province in the New Context" for doctoral thesis 2 Research objectives and tasks of the thesis 2.1 Research objectives On the basis of analyzing the current situation of foreign direct investment in Kien Giang province, the thesis proposes solutions to promote FDI inflows in Kien Giang province in the new context 2.2 Tasks of research (i) Synthesize and systematize theoretical issues and lessons learned on attracting FDI into a locality (ii) Analyze and evaluate the current situation of FDI in Kien Giang province, pointing out the limitations and causes of the limitations (iii) Research on factors affecting FDI in Kien Giang province (iv) Proposing solutions to promote FDI inflows in Kien Giang province in the new context Research objects and scope of the thesis 3.1 Research objects Current status of FDI in Kien Giang province and factors affecting capital flows to Kien Giang province 3.2 Research scope 3.2.1 Scope of content This thesis examines the current situation of FDI inflows from the perspective of economic majors and only focuses on considering the groups of internal factors of a locality, namely Kien Giang province and FDI inflows to this province, associated with some new contextual elements of the world and Vietnam Limitations of the thesis include: Natural disasters/epidemics, impacts of new generation free trade agreements, USChina trade war Due to limited data, the thesis has not looked deeply into the issues of technology transfer and spillover of FDI in terms of technology and management, but only considered from the perspective of measuring the level of capital flow and the contribution of FDI to the local 3.2.2 Scope of space The thesis examines the situation of FDI inflows in Kien Giang province in comparison with the key economic region of the Mekong Delta and the whole country 3.2.3 Scope of time The thesis considers data in the period 2010 - 2020 Approaches and research methodology of the thesis 4.1 Approaches System approach: The thesis uses a systematic approach, linking the theory about the movement of FDI flows and the practice of FDI inflows in the locality, considering a locality like Kien Giang province associated with an area called the River Delta Cuu Long has local characteristics of this region, and places FDI inflows as an important contributor to the province's economic development Besides, the thesis also considers international experience so that there can be lessons learned for a locality like Kien Giang province Institutional approach: Institution is always one of the most important issues when it comes to FDI because it is related to the facilitation of the investment and business environment Therefore, the thesis will focus on analyzing the institutional situation at all levels, assessing the impact of institutions on FDI inflows and finding out the bottlenecks and institutional limitations in creating a favorable environment FDI inflows into Kien Giang province Qualitative and quantitative approaches: The thesis combines both qualitative research approach with quantitative research (through expert interviews and focus group discussions with survey subjects) to measure research concepts and research their effects The impact of variables on the research object by quantitative model The econometric models have been tested to serve to estimate the effects of factors on FDI inflows which is the main research question of the thesis 4.2 Research methodology 4.2.1 Analytical and synthetic methods The thesis uses analytical methods, looks deeply into the contents of the big issue, explores the influencing factors and causes of the current situation of limitations and weaknesses in FDI inflows into the province From the actual analysis results, the thesis proceeds to synthesize and generalize into theoretical problems and general statements The thesis also synthesizes good international and domestic experiences in FDI inflows to draw lessons learned This method is used in the chapters of the thesis 4.2.2 Descriptive and comparative statistics Descriptive statistical analysis method is a method of using statistics from primary and secondary sources to analyze the movement trends of the variables of interest Statistical data are also used to analyze and compare the reality and situation of the years over time and by province, region or country These methods are used in chapter to describe the situation and compare FDI in Kien Giang province with the whole country and in the Mekong Delta region 4.2.3 SWOT The thesis also uses the analysis method of strengths, weaknesses, opportunities and threats (SWOT) when studying the reality in chapter to combine the analysis results of chapter to forecast and propose solutions 4.2.4 Secondary data collection method Secondary information for the period 2010 - 2020, documents, reports, studies, statistical data of state agencies, published studies, domestic and foreign, etc 4.2.5 Primary data collection method There are many theories of sampling and how to choose a sampling method, of which sample size estimation is a very important step in research design Small sample size will not help to detect the difference, conversely large sample size will waste money and time Many people find it confusing to calculate the sample size for a study because the calculation of the sample size is not simply a number of numbers into a predetermined formula but depends on the experience and knowledge of the researcher However, because the number of FDI enterprises in Kien Giang is 62, the thesis will take this sample size as the total of the research data To increase the reliability, the author will increase the sample size by surveying from 1, or votes for each enterprise The steps are as follows: Collect subjects: Managers (central and local) related to FDI activities and FDI enterprises operating in Kien Giang province Step 1: Experimental survey by interviewing managers (central and local), domestic and foreign experts, who are respondents to redefine the factors and adjust the observed variables used to measuring scale structure Ask them if the interview question is clear and easy to understand or if there are any suggestions for additions or corrections In addition, when analyzing the results, we will continue to consult the management staff to get more analytical information and have a more multi-dimensional perspective, effectively supporting the results of quantitative analysis Step 2: Conduct a formal survey to collect opinions at FDI enterprises operating in Kien Giang province and possibly expand some potential investors who have a relationship with the author 4.3 Analysis tools The author uses the reliability analysis tool (Reliability Analysis) through Cronbach's Alpha coefficient, analyzing the exploratory factor analysis (EFA); Linear regression (OLS - Ordinary least squares) is used to determine the factors affecting FDI inflows 4.4 Research process The thesis will collect theories including: (i) researching the theoretical basis of foreign direct investment capital (ii) conducting an overview of relevant empirical studies to design the outline Expert interviews and group discussions with survey subjects to adjust the model and adjust the observed variables used to measure the research concepts Next, perform a formal quantitative study on the sample size that is theoretically calculated The respondents are the survey subjects according to the convenient sampling method through the survey table The author will analyze the reliability of the data through the Cronbach'Alpha coefficient Then analyze the exploratory factors by exploratory factor analysis (EFA) method to screen the scale and determine the scale structure for formal research Next, the author uses multiple linear regression (OLS - Ordinary least squares) to test the research model and hypothesis The steps in the research process follow the diagram below: Theory Building models and scales (preliminary) Expert discussion Model and scale are adjusted Formal survey (n = calculation) Data entry Data is encrypted and cleaned Run Cronbach'Alpha EFA analysis Correlation analysis OLS Conclusion and suggestions Note: In the process of performing analytical procedures using SPSS in each stage including: Cronbach’Alpha EFA Correlation analysis OLS may have to run loops until it meets the requirements for tests, appropriateness, statistical significance, along with other validation procedures…of statistical theory New scientific contributions of the thesis The thesis has new practical contributions as follows: (i) Modeling to identify groups of factors affecting FDI inflows in Kien Giang province, and quantitative analysis to quantify that impact (ii) Clarifying the current status of FDI inflows in Kien Giang province - Vietnam, pointing out limitations, bottlenecks and causes (iii) On the basis of SWOT analysis, the thesis clarifies strengths, weaknesses, opportunities and threats of FDI inflows in the new context in Kien Giang (iv) The thesis proposes groups of solutions to promote the new generation of FDI inflows in Kien Giang province in the coming time The structure of the thesis The structure of the thesis consists of chapters: Chapter 1: Literature review Chapter 2: Theoretical basis and experience in attracting foreign direct investment (FDI) to a locality Chapter 3: Situation and factors affecting the flow of foreign direct investment in Kien Giang province in the period 2010 - 2020 Chapter 4: Prospects and solutions to attract FDI inflows into Kien Giang province in the coming years CHAPTER 1: LITERATURE REVIEW 1.1 Research related to the thesis topic 1.1.1 The group of research explaining the motivation for foreign direct investment As for investors, they will take advantage of their strong resources to search for investment markets in countries with favorable investment environments to achieve maximum profits In addition, it also sets the goal of enhancing its position and prestige in the international arena or creating a bond to dominate the host country's economy More specifically, the purposes of international investors are pointed out by economists, which are motives that want to maximize all resources of the host country, combining their advantages and others like commercial factors, non-commercial factors to achieve the highest benefits The factors that promote the intention of foreign direct investment (FDI) of investors have had many economic studies providing explanations based on the general theoretical foundation of FDI Currently, there are many scholars based on such views as the difference in the marginal productivity of capital between countries; Product cycle; Special advantages of multinational companies; Market access and reducing trade conflicts; Exploiting expertise and technology; Access to natural resources…to conduct empirical research and obtain reliable results in a locality of a country that has had large-scale FDI inflows and is growing quite steadily First, when discussing the school of research based on the theory of Differences in Marginal Productivity of Capital between countries With a theoretical background in the product cycle, For the approach, the explanation of FDI flows is that investors want to find (natural) resources Next, with the orientation to use the theory of special advantages of multinational companies related to FDI, In addition, there are works approaching from the point of view of avoiding bilateral trade conflicts and accessing markets which are also factors that promote countries to make foreign direct investment 1.1.2 The group of research on factors affecting foreign direct investment (FDI) Asiedu (2002) China, Liu K., Kevin D., Maria E V (2012) Abdul Ghafoor Awan (2014) Fagan Rzabeili & ctg (2016) Tejvan Pettinger (2019 Vietnam also has quite a few studies on the uneven distribution of FDI among localities such as Thu H.T (2006) For investment recipient countries like Vietnam, Nguyen Trong Hoai (2007) in the textbook of Development Economics pointed out the factors "soft infrastructure" In order to explain investor behavior, Nguyen Dinh Tho et al (2009), in the book "Scientific Research in Business Administration", Quite similar to Tho's research (2009), there is an empirical evidence of Dinh Phi Ho (2011) in the work "Factors affecting investment capital flows in industrial zones" “Investment decision” is a dependent variable, published by Nguyen Ngoc Anh (2015), when publishing the thesis “Research on factors affecting foreign direct investment flows into the central key economic region” Besides the theoretical studies on investment decisions of FDI enterprises in terms of location selection, investment forms of FDI as analyzed above, there are other research works related to the theory combining experimental research Regarding FDI, Imad A Moosa (2002) analyzed FDI theories and examined factors affecting FDI ……………………… 1.2 The gaps and problems of research An overview of relevant domestic and foreign studies may reveal some of the following results: Firstly, there are many schools of interpretation of the causes of FDI in the world, which are popular studies in the late 20th and early 21st centuries These studies have explained why there are FDI, why is there an incentive to move FDI inflows in the world? Secondly, depending on the objective and level, each study selects different influencing factors to test the impact of these factors on FDI flows in practice The experimental research results show that the factors affecting FDI are very diverse in each locality or each country However, studies on the factors affecting FDI inflows in Kien Giang are almost nonexistent and the influencing factors are unclear Thirdly, Third, so far, there has been no research on FDI at the local level in new contexts such as climate change, epidemics, cooperation through new-generation agreements, trade wars, etc in order to propose solutions to promote FDI inflows There are many research gaps mentioned above, but in this thesis the author focuses on solving specific issues including: Firstly, hệ thống hóa làm rõ khung phân tích yếu tố tác động đến dòng vốn FDI vào địa phương quốc gia Secondly, building an econometric model with variables quantified by a scale system to evaluate the correlation between factors affecting FDI inflows into Kien Giang province, especially taking into account new factors affecting FDI inflows into Kien Giang province Thirdly, clarifying the current status of foreign direct investment capital flows into Kien Giang province in the period 2010 - 2020 The thesis will evaluate and point out issues such as limitations, bottlenecks, opportunities and threats to the flow of foreign direct investment capital in Kien Giang province 10 Finally, propose solutions to promote positive factors affecting FDI inflows and overcome limitations and bottlenecks in FDI inflows into Kien Giang province CHAPTER 2: THEORETICAL BASIS AND EXPERIENCE IN ATTRACTING FOREIGN DIRECT INVESTMENT (FDI) TO A LOCALITY 2.1 Theoretical basis 2.1.1 Foreign investment Đầu tư nước việc tổ chức, cá nhân quốc gia đưa vốn hình thức khác vào quốc gia khác để tiến hành hoạt động kinh doanh tìm kiếm lợi nhuận Đầu tư nước ngồi thực hình thức đầu tư trực tiếp đầu tư gián tiếp Doanh nghiệp có vốn đầu tư nước doanh nghiệp nhà đầu tư quốc gia đầu tư toàn phần vốn thành lập lãnh thổ quốc gia khác để tiến hành hoạt động kinh doanh thu lợi nhuận Nhiều nước giới không phân biệt vốn đầu tư nước với vốn đầu tư nước vậy, khơng có khái niệm doanh nghiệp có vốn đầu tư nước ngoài, họ gọi doanh nghiệp thành lập sở góp vốn nhà đầu tư nước ngồi theo hình thức tổ chức pháp lý chúng, đơn cử Công ty trách nhiệm hữu hạn, Công ty cổ phần 2.1.2 Foreign direct investment There are many different approaches to foreign direct investment (Foreign Direct Investmen – FDI, as defined by the International Monetary Fund (IMF) (1997) “FDI is an investment activity undertaken to achieve long-term interest in an enterprise operating in the territory of an economy other than that of the host country, the purpose of the investor is to gain the right to actual management of the enterprise”… To summarize from the above points of view, it can be said that foreign direct investment is the movement of capital, assets, technology, and management experience from the investor's country to the host country to establish or control an enterprise for the purpose of making a profit from such investment activities Thus, it can be seen that FDI is an economic relationship with foreign factors, the essence of FDI is: There is the establishment of capital ownership of a company in another country for the purpose of seeking long-term profits; FDI activities are related to the combination of ownership with the right to manage the invested capital, 11 accompanied by the right to transfer technology and management skills; Related to the market expansion of multinational companies 2.1.3 Content and forms of foreign direct investment capital flows First, the primary purpose of FDI is to seek profit Second, the rights and obligations of each party depend on the percentage of capital contribution Third, FDI is often accompanied by technology transfer to the host country Fourth, FDI has a direct and lasting impact on the economic structure and development level of the host country …………… 2.1.4 The role of foreign direct investment on developing a locality …………………… The role of direct investment is also assessed for two sides: the country that invests and the country that receives investment, on both positive and negative sides On the positive side On the negative side 2.1.5 Summary of factors affecting FDI inflows into the locality TABLE 2.1 SUMMARIZING FACTORS AFFECTING FDI INFLOWS INTO THE LOCALITY Author Factors Research point of view This is a factor consistent with Naturl resources the research of the thesis This is a factor that needs to be Market size consulted with the research of the thesis This is a macro factor, so the Inflation thesis does not approach this Asiedu E factor (2006) This factor has a strong impact Infrastructure on FDI This factor has a strong impact People's intellectual level on FDI This factor has an inverse effect Corruption on FDI 12 Openness of the country Political stability Reliable legal system Lack of transparent information in management Minh, 2012 Technical infrastructure The management team is not professional Poor quality labor Supporting policies Giao et al (2015) Market Geographical location Resources Infrastructure Phuoc (2015), Openness of the economy Labor force Tuan (2020) Climate Change Disaster risk 13 This is a macro thesis does not factor This is a macro thesis does not factor This is a macro thesis does not factor factor, so the approach this factor, so the approach this factor, so the approach this This factor has a strong impact on local FDI This factor has a strong impact on local FDI This factor has a strong impact on local FDI This factor has a strong impact on local FDI This factor has a strong impact on local FDI This is a factor that needs to be consulted with the research of the thesis This factor affects FDI, it should be consulted This factor has a strong impact on local FDI This factor has a strong impact on FDI This is a macro factor, so the thesis does not approach this factor This factor has a strong impact on FDI This factor has a strong impact on FDI This factor has a strong impact on FDI 2.1.6 Criteria for measuring FDI inflows into a locality 2.2 Some experiences of foreign direct investment capital flow into a locality Sub-conclusion of chapter Multinational companies invest abroad for a variety of reasons Some companies pursue an internationalization strategy to reduce domestic competition, whilst others suffer from capital outflows due to low cost or resources in the country in which they invest In this process, the factors leading to the choice of location or investment method are very important and it directly affects the future development of the business Thus, from the perspective of managers of a locality or a country, they must also carefully grasp the influencing factors for FDI investors to choose their own locality or country to invest in However, investor decision choice is complex and can be explained by many different theories, such as Mac Dougall's theory of marginal productivity (1960), the theory of Hymer's theory (1960), Raymond Vernon's Product Cycle Theory (1966), Coase's Internalization Theory (1937), Dunning's Eclectic Theory (1979), etc From these theories, the researchers have identified many factors affecting the investment decision of enterprises The theoretical basis related to FDI inflows has been explained by scholars around the world as to why investment capital flows from the main country to countries with underdeveloped economies and low production costs The theory of product life cycle, price competition and the role of FDI contribute a lot of resources to the economic development of an investment recipient country Since then, some countries want more FDI enterprises to appear, so the laws related to FDI activities in these countries have always been open, continuously improved infrastructure, innovated and tried to keep stabilize the political and economic environment, fight against corruption, etc That is the cause leading to the formation of FDI flows In addition, the indirect factor of trade wars between countries with powerful economies also causes the shift of FDI flows from one country to another One issue mentioned in this study is that there is a link between FDI and bilateral and multilateral agreements that will promote FDI inflows It also opens up opportunities for the local business community to approach FDI enterprises and exploit common interests together 14 Next, this chapter has focused on synthesizing research works on factors affecting investment decisions, the size of FDI sector capital grouped according to the theory of motivation for outward direct investment, actual practice case study on factors affecting FDI inflows At the same time, the thesis approaches some experiences of investment capital flows in countries with similar conditions to Vietnam Through the review of previous studies, the author has found research gaps such as Kien Giang has no published research; Most studies point to many factors However, for Kien Giang, the author finds it necessary to add some component indicators of the Competitiveness Index (PCI) related to the quality of local governance for FDI investors, along with some factors related to the current new context Through the review of the studies, the research direction, objectives, scope, object, research process were determined, especially the survey questionnaire was designed CHAPTER 3: THE REALITY AND FACTORS AFFECTING FOREIGN DIRECT INVESTMENT FLOWS IN KIEN GIANG PROVINCE ON THE PERIOD OF 2010-2020 3.1 Overview of institutions and investment environment in Kien Giang province 3.1.1 The policies of local 3.1.2 Government management of FDI Some limitations The system, laws and policies related to investment are still inadequate Investment incentives are not attractive enough Infrastructure system Human resources are limited The development of supporting industries has not met the requirements State management of investment Investment Promotion 3.2 The reality of Kien Giang province FDI flows on the period of 2010-2020 15 Table 3.1 Foreign direct investment in Kien Giang (projects valid until December 20, 2020) Total Average registered Number registered Year investment of projects capital/project capital (Million USD) (Million USD) 1988 - 2010 18 2,790.64 155.04 2011 234.00 39.00 2012 19.79 2.20 2013 76.29 38.15 2014 7.35 1.84 2015 33.00 8.25 2016 4.77 2.39 2017 1,342.30 191.76 2018 353.90 88.47 2019 20.67 4.13 2020 14.32 14.32 TOTAL 62 4,897.04 78.98 Source: Ministry of Planning and Investment 3.2.1 FDI projects by industry/field Table 3.2 Foreign direct investment in Kien Giang by industry/field (projects valid until December 20, 2020) Number Total investment No Industry/Field of capital (million USD) projects Real estate business 1,652.55 Manufacturing and processing industry 15 1,615.27 Mining 1,277.77 Accommodation and food services 15 209.91 Agriculture, forestry and fisheries 67.10 16 Warehousing, transportation 33.09 Education and training 17.13 Wholesale and retail; auto and 16.89 motorcycle repair… Administrative activities and 4.62 support services Information and 10 communication 2.32 Professional activities, science 11 0.27 and technology 12 Construction 0.12 Total 62 4,897.04 Source: Ministry of Planning and Investment 3.2.2 FDI projects by partner Table 3.3 Foreign direct investment in Kien Giang by partner (projects valid until December 20, 2020) Number Total investment No Industry/Field of capital (million USD) projects British Virgin Islands 1,652.27 Japan 1,288.80 Thailand 679.03 Switzerland 441.05 France 356.06 UK 114.29 HongKong 112.67 Korea 10 140.91 Malaysia 44.74 10 Australia 43.31 11 Cayman Islands 14.14 12 Singapore 4.95 13 Cambodia 4.00 14 US 0.38 15 Russia 0.28 16 Sweden 0.10 17 17 18 Slovakia Germany 0.05 0.01 Total 62 4,897.04 Source: Ministry of Planning and Investment 3.3 Analysis of influencing factors according to the model “Investment decision” 3.3.1 CPTPP, EVFTA US-China Trade War Because this is a newly formed group of factors, the data capacity with the characteristics of Kien Giang has not yet allowed to explore the impact of these factors, so the thesis does not include the empirical research model, instead the thesis use descriptive statistics method to evaluate to supplement the existing statements and assessments 3.3.2 Proposing a research model of factors affecting FDI inflows into Kien Giang province Group of external factors The group of external factors includes factors such as: globalization process; the fourth industrial revolution; changing growth patterns of countries; The world economic environment; Movement of international FDI flows; Investment strategies of foreign investors; Financial potential and business capacity of foreign investors are TNCs; Climate change… Group of internal factors The group of internal factors includes such factors as: Vietnam's international economic openness; The stability of the macroeconomic environment, the legal system of Vietnam; population size; Growth; infrastructure development; Comparative advantages in terms of natural conditions; Quality of personel; Administrative procedures related to FDI; Leadership capacity and mindset; Promotion agency activities On the basis of absorbing the results of the published domestic and foreign empirical studies, the thesis focuses on solving the issues that have not been clarified in order to have an overview of the factors affecting the flow of FDI in Kien Giang province With the institutional approach, the thesis adds an important factor extracted from the Provincial Competitiveness Index - PCI - which Kien Giang always has fluctuations The thesis also considers the group of factors related to climate change and epidemics for analysis On the basis of the synthesis of existing studies, the exchange of opinions of FDI managers at central 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