Assignment fdi policy implementation, lessons and solutions china case study

MINISTRY OF FOREIGN AFFAIRS DIPLOMATIC ACADEMY OF VIETNAM Faculty of International Economics ASSIGNMENT: FDI policy implementation, lessons and solutions CHINA CASE STUDY Subject: Macroeconomics II Lecturer: M.S Nguyen Minh Trang Students: GROUP - KT46C Nguyen Thi Quynh Anh Pham Ngoc Minh Chau Ho Thi Giang Ha Noi, 9/2021 TABLE OF CONTENTS LIST OF ABBREVIATIONS AND ACRONYMS .3 INTRODUCTION CHAPTER I: Vietnam’s policies to attract China’s foreign direct investment Tax Incentives 1.1 CIT incentives .5 1.2 Preferential import and export tax Incentives on land use .6 Vietnam’s policy for "Chinese Eagle" attraction CHAPTER II: The socio-economic, medical, and political outcomes Employment and labor effects GDP and Trade Turnover improvement, especially Export Medical assistance during the COVID-19 pandemic 10 Cooperation between Vietnam and China 11 CHAPTER III: Prospects and limitations of China's FDI into Vietnam 12 Prospects of China's FDI in Vietnam: 12 1.1 Vietnamese market is getting more attention .12 1.2 Potentials of Vietnamese market despite the Covid-19 pandemic 12 1.3 China's economic potential has grown a lot 12 Limitations of China's FDI into Vietnam: 13 2.1 FDI flows are not consistent with the development planning of industries and economic regions13 2.2 Weakness in technology transfer 13 2.3 Employment issues of domestic workers 14 2.4 Transfer pricing problem .14 2.5 Political and security issues 14 CHAPTER IV: Solutions towards outstanding issues & Orientations to attract China’s FDI inflows into Vietnam in the new context .15 Proposing solutions to outstanding issues .15 Orientations to attract China’s FDI inflows into Vietnam in the new context 16 CONCLUSION 17 REFERENCES 18 | Page LIST OF ABBREVIATIONS AND ACRONYMS FDI MPI GSO GDVC MoH CIT SEZ EZ TBR GDP CPTPP RCEP FTA ASEAN TNCs Foreign Direct Investment Ministry of Planning and Investment General Statistics Office of Vietnam General Department of Vietnam Customs Ministry of Health Corporate Income Tax Special Economic Zone Economic Zone Truck and Bus Radial Tyre Gross Domestic Products Comprehensive and Progressive Agreement for Trans-Pacific Partnership Regional Comprehensive Economic Partnership Foreign Trade Agreement Association of Southeast Asian Nations Transnational Corporations | Page INTRODUCTION Vietnam is internationally recognized as one of the most successful countries in attracting foreign direct investment (FDI) in the region, becoming a reliable and effective destination in the eyes of foreign investors owing to the stable macroeconomic and political background along with commitments to facilitating a fair business environment Over the past few years, the Government of Vietnam has constantly improved institutions and financial incentives to attract and better manage foreign investment resources With a series of innovations in Vietnam policies, in the past 2-3 years, FDI investment capital from Chinese enterprises has increased sharply, consequently conducting more and more effective projects, creating plenty of job opportunities and improving citizens' living standards as a whole However, China's FDI inflows into Vietnam still have some limitations such as the inappropriateness of the development planning of industries and economic zones, technology transfer weakness, transfer pricing related issues, etc With the aim of solving these problems, solutions towards outstanding issues and orientations to attract Chinese FDI inflows into Vietnam in the new context are proposed as well Under those circumstances, we chose the topic "FDI policy implementation, lessons and solutions: China case study" as the theme for our essay | Page CHAPTER I: Vietnam’s policies to attract China’s foreign direct investment Over the past, the Vietnamese government has constantly improved institutions and financial incentives to attract and better-manage foreign investment resources Vietnam always appreciates the role of China's foreign direct investment in contributing to the socio-economic development of our country Vietnam has issued appropriate strategies to welcome the wave of Chinese FDI, which are objectively and cautiously assessed, but not hostile so as to improve the country's sustainable production capacity Tax Incentives Financial institutions and favorable conditions for FDI appealing and capital governance have always been among Vietnam's authority priorities recently In general, financial incentives focus on: (1) The standard corporate income tax (CIT) incentives, (2) Import and export tax incentives As follows: 1.1 CIT incentives What can be implied from the table is that the statutory CIT rate for investors from China is about 25% (depending on the projects) while this figure for countries within the ASEAN region tends to be lower, averagely more than 21% However, compared to those located outside ASEAN such as India with 30% of their profits, the statutory CIT incentives for investors from China are considered to be an average extent 1.2 Preferential import and export tax The policy of reducing import-export tax or customs duty has been used as a preferential measure to attract Chinese investors, especially often applied in export | Page processing zones where Vietnamese enterprises are not allowed to participate Specifically as follows: (i) The Government exempts and reduces import tax on essential goods with great demand for our country, such as iron and steel, metal, fabric, with tax rates Import incentives range from 0%-50% depending on the type of item In particular, the biggest discount for fabrics is about 0%-15% (based on the Import and Export Tariff Schedule 2021) (ii) In addition, policy makers also exempted and reduced import taxes from China's export processing zones and special economic zones into Vietnam's market, in order to increase the amount of FDI in these zones, thereby increasing FDI inflows into the country; For example, the Linh Trung Export Processing Zone is a joint venture project between Vietnam and China The Chinese side is China Electricity Import-Export Limited Liability Company while the Vietnamese side is Tan Thuan Industrial Development One Member Limited Liability Company The trading relationship between Linh Trung Export Processing Zone and foreign partners will not be subject to export and import taxes (iii) Moreover, the Government has developed a separate import tariff for different types of Chinese FDI and set up different preferential tax rates for businesses in order to create maximum conditions for businesses when investing in Vietnam (iiii) Exemption from import tax on goods to create fixed assets for investment projects in areas of special investment encouragement, investment promotion and investment projects in the locality that have difficult socio-economic conditions… Incentives on land use Basically, there is not too much difference in land incentives offered by the Government of Vietnam to Chinese investors compared to other countries Nevertheless, the government has still issued certain policies such as supporting land for Chinese enterprises, for example: (i) Reducing 50% in land rent during the period 2011-2014; | Page (ii) Adjusting and reducing the ratio of calculating the general land rental unit price from 1.5% (specified in Decree No 121/2010/ND-CP) to 1% (specified in Decree No 46/2014/ND-CP) Also, the Provincial People's Committees specify the rate in the frame from 0.5-3% for each area and route corresponding to different land use purposes to apply the collection of land rent in the locality; (iii) Applying price adjustment coefficient in determining the price to calculate land rent Vietnam’s policy for "Chinese Eagle" attraction There are many reasons to explain the acceleration of Chinese capital flows into Vietnam in the last two years, in which the US-China trade war that started in previous years has pushed investment enterprises from China to leave the market and in search of moving to neighboring areas like Vietnam in order to avoid the US tax Besides, as Vietnam is a neighboring country with great potential, Chinese businesses have been looking for opportunities to expand the scale of two-way trade and rapidly increase direct investment projects On that grounds, Vietnam has been taking full advantage of these opportunities by having proper policies in the direction of selecting, screening, and ensuring national interests in terms of trade and investment cooperation between the two countries Currently, Vietnam has been developing border-gate economic zones to attract Chinese investors (especially the provinces that have borders with China such as Lang Son, Cao Bang, ) A typical example is Dong Dang - Lang Son border gate economic zone (Bilateral border gate pair Chi Ma (Lang Son - Vietnam) - Ai Diem (China)) In order to have such an impressive "return" in the work of attracting investment to Dong Dang - Lang Son Economic Zone, the People's Committee of Lang Son province has continued to implement general incentive mechanisms and policies in accordance with regulations The Government's decision also implements a number of special preferential policies for enterprises investing in the SEZ Specifically, incentives for corporate income tax (exemption for years and 50% reduction for the next years), import and export tax exemption for Chinese enterprises investing in the EZ (free from import tax on goods to creation of fixed assets, means of transport, technological lines to implement investment projects ); incentives for land and water surface rents (3 years of exemption from land and water surface rents from the date of completion of the project, for those on the list of | Page sectors encouraged for investment; years for investment projects in areas with difficult socio-economic conditions…); a number of policies to support investment projects such as support for the construction of infrastructures such as roads, electricity and water; support for site clearance, support for labor training (according to Resolution No 12/2018/NQ-HDND dated December 10th 2018, of the Provincial People's Council), support for credit interest… So, The lessons of success and failure in the market economy and international integration, including attracting FDI, are valuable assets for Vietnam to have proper policies in receiving international investment capital for development CHAPTER II: The socio-economic, medical, and political outcomes With a series of innovations and incentives in Vietnam's FDI attraction policies, in the past 2-3 years, investment capital from Chinese enterprises mainly distributed in the fields of processing and manufacturing industries, electricity production and distribution, high technology, These are also the leading sectors in Vietnam in terms of project quantity and total registered investment capital TYPICAL PROJECTS RECEIVING FDI CAPITAL FROM CHINA No Project name Location Total capital Production goal (USD) Radian Jinyu tire Tay Ninh > 612 million Full steel TBR tires manufacturing Brotex Fiber Factory Tay Ninh 450 million Yarn, fabric and textile products JA Solar photovoltaic cell technology Bac Giang 210 million Photovoltaic panels USI factory Hai Phong 200 million Electronic circuit boards for wearable devices Powerway alloy Bac Giang 50 million Alloy types: bar, fiber, strip Source: self-aggregating from MPI data (1/2020 - 9/2021) | Page The FDI waves from China have covered all fields and sectors, which open up many opportunities, and create positive impacts, as below: Employment and labor effects FDI inflows from China have indeed eased employment constraints as through positive spillovers and technology transfers, is likely to generate good jobs with higher wages and increase aggregate firm productivity According to preliminary statistics in 2020 of the MPI, the field attracting capital from China - Processing and Manufacturing industry is typical with creating more than 11,300 employees (15 years and older), accounting for 21.08% of the labor structure, which ranks 2nd in the economy Specifically, the Brotex Fiber factory in Tay Ninh with 100% investment capital from China is estimated to employ about 8,000 workers for the locality and neighboring provinces such as Long An and Ho Chi Minh City after phases of construction Besides, the index of industrial production of localities with Chinese investment capital generally increased in the first months of 2021 compared to the same period last year, typically Hai Phong (increased by 20.6%), Quang Ninh (increased by 7.4%), Bac Giang (increased by 6.5%), as stated in the August 2021 socio-economic situation report - GSO In addition, Chinese enterprises also focus on training high-quality Vietnamese human resources and fostering their exposure to access international markets under different forms of coaching and mentoring A noteworthy proof is the annual JINYU YOUNG TALENT program of Chinese Jinyu company which equips future talented Supervisors or Fresh Managers the chance to receive training at the company headquarters in China for 3-6 months and be subsidized with salary as well as overseas living allowances These are all pivotal marks showing the interest from Chinese enterprises in promoting Vietnamese labor competency GDP and Trade Turnover improvement, especially Export According to the press release on the socio-economic situation of GSO, the gross domestic product (GDP) in the first months of 2021 increased by 5.64% despite the outbreak of Covid-19 in some localities from the end of April In the general growth of the whole economy, the key industries receiving Chinese investment capital grew quite well thanks to the maintenance and recovery of enterprises' production and business | Page activities On the value added of the industry compared to the same period last year, the processing and manufacturing industry continued to play a leading role in the growth of the economy with an increase of 11.42% and the electricity distribution increased 8.16%, which are indeed impressive figures in the current context In another aspect, even though China is Vietnam's largest trading partner, China’s FDI to Vietnam is not high To clarify this situation, there are proposed reasons as below: - Top trade: China is a populous country, which makes its domestic labor cheap Therefore, it is imperative to facilitate conditions for domestic production to reduce the unemployment rate, create more added value to contribute to GDP However, as domestic production is so abundant, China itself cannot consume completely, so it has to export and one of the main destinations this country prioritizes is Vietnam - Small investment: In fact, the average capital per project that China invests in Vietnam is not much (only rank 6th in terms of total capital) as it prioritizes investing in small and medium enterprises China only invests in a few specific fields such as processing and manufacturing, energy, gas, because these are products of high consumption demand but the country's production capacity is not enough Therefore, it invests in other countries to import back to its own country Indeed, the export-oriented essence of Chinese FDI into Vietnam does enhance Vietnam's export industry by providing a convenient route for "Made in Vietnam" products to be exposed to foreign markets Despite the complicated development of the Covid-19 pandemic, economic and trade cooperation between Vietnam and China bring about positive results beyond initial expectations According to statistics of GDVC, in the first months of 2021, the total trade turnover between Vietnam and China reached 105.45 billion USD (increased by 37.45% compared to the same period in 2020), in which exports reached 33.41 billion USD (increased by 22.15%) However, Vietnamese import value from China is still very high (about 72.04 billion USD), so the noteworthy point is that Vietnam has become China's 6th largest trading partner in 2020, creating strong belief in Vietnam's limiting trade deficit from China Medical assistance during the COVID-19 pandemic 10 | Page Since the beginning of the 4th outbreak, Chinese investors have still paid constant attention to the Vietnamese markets, not only in project extension and additional funding but also in medical supplies assistance Among investors of Chinese still-validated projects, Jinyu Tire presented a set of medical supplies worth 200 million VND to the Department of Health of Tay Ninh province on September 18th 2021 Accordingly, these are vital items that support the COVID-19 sampling, screening and treatment As stated by MoH, the Chinese Government and Chinese Ministry of National Defense have also donated millions of Sinopharm's Covid-19 Vero-Cell vaccine to Vietnam, committing to bringing the total number of vaccine aid to 5.7 million doses At the same time, some Chinese localities also donated vaccines and medical equipment to Vietnamese localities, which is timely and extremely meaningful in the current context On the side of the recipient country, Vietnam has conducted many priority policies on vaccines, assured not to abandon FDI enterprises In particular, areas with dense distribution of industrial zones, export processing zones, high-tech zones receiving Chinese investment capital such as Tay Ninh, Binh Thuan, Dong Nai, Bac Giang, are prioritized for vaccine attribution These are also heavily impacted areas during the 4th outbreak of the COVID-19 pandemic Workers in FDI enterprises are priority objects to complete doses earlier so as to ensure production lines, prevent logistics disruption then gradually recover the economy Cooperation between Vietnam and China Since Vietnam signed on to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), China is usually among the top sources of foreign investment in Vietnam as it seeks to gain a foothold in the lucrative CPTPP market via Vietnam Besides, the two countries’ signing of RCEP will create a strong attraction for large Chinese enterprises to shift investment to Vietnam in the near future in order to take advantage of the incentives in the framework of these FTAs Moreover, it is very valuable that the government and Chinese enterprises are putting more and more capital into the Vietnamese market Effective projects such as Linh Trung Export processing zone, Vinh Tan thermal power,… have significantly enhanced Vietnamese' living standards, improved infrastructure, and initiated job opportunities not only in the FDI sector but also in the country as a whole Therefore, the 11 | Page Vietnamese government always attaches great importance to strengthening the comprehensive strategic cooperation between the two countries, aiming to satisfactorily settle remaining disputes, constraints and problems CHAPTER III: Prospects and limitations of China's FDI into Vietnam Prospects of China's FDI in Vietnam: 1.1 Vietnamese market is getting more attention In recent times, the Government as well as Chinese businesses are increasingly interested in the Vietnamese market There are several reasons as follows: Firstly, the two countries are also Asian countries, with many similarities in terms of history, cultural and social traditions as well as some customs Secondly, Chinese enterprises have long done business with Vietnam, so they have certain experience and understanding about the Vietnamese market Thirdly, Chinese enterprises find in Vietnam many benefits: Chinese enterprises find in Vietnam a market with a large consumption capacity with nearly 98 million people Fourthly, the Chinese government is seeking to increase its economic and political influence in Asia 1.2 Potentials of Vietnamese market despite the Covid-19 pandemic The fourth wave of the pandemic has raised concerns in the foreign business community But FDI enterprises have chosen Vietnam for long-term investment and investments need time to take effect while the epidemic has only broken out in recent months Besides, Vietnam's fundamental conditions remain strong and Vietnam has established itself in the global supply chain in recent years through a series of free trade agreements With high foreign exchange reserves plus a stable currency, inflation still under control, FDI inflows continuing to increase sharply, mainly focusing on the manufacturing sector, Vietnam is fully ready to welcome the future Therefore, Vietnam's GDP growth is forecasted to reach 6.8% in 2022 with a reliable outlook both in the short term as well as in the long term 12 | Page 1.3 China's economic potential has grown a lot In 2020, China's total GDP is $15.66 trillion (101.6 trillion yuan), making it the second largest economy after the US Regarding trade, according to the General Administration of Customs of China, China's import and export turnover in 2020 also increased despite the Covid-19 pandemic, reaching 32.160 billion yuan (more than 4.646 billion USD), an increase of 1.9% over the same period China has become the only major global economy with positive growth in goods trade, and its position as the world's number one commodity trading nation continues to be strengthened Besides, Chinese enterprises have also grown tremendously in all aspects: capital, technology, management and business experience Chinese enterprises have also diversified in form, with the appearance of large companies, large corporations, and transnational companies With strong economic potential and outstanding advantages, China is considered to be one of the brightest FDI investors in Vietnam Therefore, Vietnam should promote the positive points and adjust the weak points in the policy of attracting FDI from China to become an attractive destination for Chinese investors in the coming period, especially in the post-Covid-19 period Limitations of China's FDI into Vietnam: 2.1 FDI flows are not consistent with the development planning of industries and economic regions China's FDI inflows pay little attention to Vietnam's agriculture, forestry and fishery industries Recently, Chinese FDI enterprises have paid much attention to exploiting our country's natural resources This is an unexpected investment structure, because the exploitation and preliminary processing of ores in Vietnam to transfer raw materials to China does not bring economic benefits to Vietnam, adversely affecting the environment and sustainable development of Vietnam 2.2 Weakness in technology transfer China's FDI often flows into sectors such as textiles, footwear, fibres, energy and mining, which are potentially polluting industries Project Huanyu Textile Chemical Manufacturing Factory in Tay Ninh is one of China's FDI projects that has the potential to cause serious water pollution in Vietnam The large amount of water used and discharged 13 | Page in the production process is the cause of poisoning for aquatic organisms right from the source Furthermore, many Chinese FDI projects either have low technology content or use outdated technology Therefore, Vietnam is at risk of becoming China's "technological dump" due to carelessness in choosing Chinese FDI projects In addition, in some cases, machinery and equipment brought to Vietnam by Chinese companies are types that Vietnam can produce domestically 2.3 Employment issues of domestic workers The Chinese came massively with China's FDI, doing business, trading illegally, and taking advantage of the legal loopholes of the host country In many cases, Chinese workers also cause social evils, local insecurity Besides, the situation of FDI enterprises making losses, owing wages to workers, insurance money, taxes and then running away as many cases have happened 2.4 Transfer pricing problem In the process of production and business, Chinese enterprises often declare high input material prices, and seek to increase other costs such as advertising costs in order to reduce or eliminate profits Because Vietnamese are often incapable of valuing modern technology and equipment, Chinese partners tend to overestimate their contributions, leading to an exaggeration of the amount of capital contributed to any joint venture These companies will also take advantage of the interest payment to carry out transfer pricing This leads to the phenomenon that some foreign enterprises in Vietnam expand their production activities and increase their revenue streams despite continuously reporting losses Currently, the majority of transfer pricing cases in Vietnam have not been brought to court due to the weakness of the Vietnamese legal framework on handling transfer pricing behavior and the sophistication of FDI enterprises in concealing their behavior 2.5 Political and security issues Information from the Ministry of National Defense shows that Chinese enterprises have long-term leases of land in border areas, sea areas and many places sensitive to national security And yet, the press also reflects that some Chinese enterprises have propagated their way of encroaching on the sea and islands, going against the policy of Vietnam's sovereignty 14 | Page Through the above analysis, it is found that China is a large economy and is a neighbor of Vietnam that needs to maintain and develop relations, especially in the field of import and export But objective analysis in many aspects has shown concern about FDI from this country CHAPTER IV: Solutions towards outstanding issues & Orientations to attract China’s FDI inflows into Vietnam in the new context Proposing solutions to outstanding issues In the coming time, in order to maximize the benefits from Chinese FDI and limit the negative impacts of these investments, Vietnam needs to pay attention to the following issues: Firstly, develop and supplement incentive mechanisms for enterprises to operate effectively and fulfill their commitments; distinguishing preferences between different investment sectors and professions to create a favorable environment for promoting foreign investment in Vietnam; Secondly, Vietnam needs to enact an anti-transfer pricing law and perfect the legal framework to combat transfer pricing between companies Vietnam also needs to narrow to some extent the gap in tax incentives between domestic and foreign enterprises in order to create a generally fairer competitive environment for both groups of enterprises; Thirdly, adjust policies to attract FDI from China in line with commitments to international integration and Industry 4.0 In particular, it is necessary to ensure that the technology of Chinese projects invested in Vietnam must be high-tech and modern, without affecting the environment Regarding technology requirements, it is necessary to select the right project based on the criteria to meet the needs of receiving and using the existing achievements of the Industrial Revolution 4.0; Fourthly, not attract FDI at all costs, especially investment projects with risk of environmental pollution, capital-intensive, low-value projects; resolutely refuse to grant permits as well as revoke permits for FDI projects that not meet labor and wage standards; 15 | Page Fifthly, quickly supplement legal regulations and sanctions to effectively prevent and handle the situation of business owners fleeing It is required to postpone or ban exit for business owners showing signs of absconding, owing taxes and social benefits to employees Vietnam highly appreciates the role of Chinese FDI in contributing to its socioeconomic development However, China's FDI activities in Vietnam in general tend to take advantage of Vietnam's cheap labor, exploit mineral resources, pollute the environment, consume a lot of energy, and increase trade deficit The two countries can further cooperate to improve the quality of Chinese investment projects in Vietnam This will help promote economic relations to further benefit both sides, which will create positive political influence for both countries Orientations to attract China’s FDI inflows into Vietnam in the new context (i) Orientation to attract investment capital by region: Trying to attract Chinese investment in Industrial Parks - Export Processing Zones - High-Tech Parks, Free Economic Zones approved by the Government contributes to speeding up the narrowing of the development gap between regions (ii) Orientation to attract investment capital by industry: The attraction of China’s FDI into Vietnam should be formed in the direction of prioritizing high-tech projects, environmental-friendly technologies, supporting industries, and modern service industries (iii) Orientation to attract investment capital by partner: Establishing linkages between transnational corporations (TNCs) and large Chinese companies with domestic enterprises in order to make Vietnamese enterprises benefit thanks to cooperation, technology and market assignment with TNCs; encourage TNCs to cooperate with highlevel university, vocational training institutions and scientific research organizations to improve their qualifications and capacity 16 | Page CONCLUSION FDI capital from Asian countries in general and from China continues to invest heavily in our country more and more; FDI attraction activities are closely related to the economic restructuring process, creating an attractive, clear, open, fair and competitive investment environment with other countries in the region Over the past time, China's FDI attraction policy has been systematically adjusted, supplemented and perfected step by step Accordingly, the role of China's FDI in Vietnam, in addition to the positives in bringing in capital, creating jobs and contributing to growth, the massive investment from neighboring countries can also lead to many problems environmental risks and foreign labor management FDI capital from Asian countries in general and from China continues to invest heavily in our country more and more; Vietnam also needs that capital to ensure enough capital for the needs of economic development and transformation The lessons of success and failure in the market economy and international integration, including attracting FDI, are valuable assets for Vietnam to have appropriate policies in receiving international investment capital for sustainable development 17 | Page REFERENCES Vietnamese sources Quỳnh Trang (2020) FDI đua ưu đãi thuế nước ASEAN, VN Express Truy cập ngày 24/09/2021, tại: https://vnexpress.net/fdi-va-cuoc-dua-uu-dai-thue-cua-cac-nuoc-asean4191033.html Cục đầu tư nước ngoài, Bộ Kế hoạch Đầu tư (2020) Ưu đãi đất đai, Ưu đãi đầu tư Truy cập ngày 25/09/2021, tại: https://fia.mpi.gov.vn/Single/MenuID/bf25157f-a8ee-4561-9401-5b394b89e6d0 Nghị định 153/2017/NĐ-CP ngày 27/12/2017 Chính phủ Biểu thuế nhập ưu đãi đặc biệt Việt Nam để thực Hiệp định Thương mại hàng hóa Asean - Trung Quốc giai đoạn 2018 - 2022 Truy cập ngày 25/09/2021, tại: 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Development (pp 4-5) Retrieved on 09/25/2021, from: https://www.tradeeconomics.com/wp-content/uploads/2019/07/A-review-offoreign-direct-investments-in-Vietnam-and-implications-for-improvement-min.pdf 20 | Page Abhishek Saurav - Yan Liu - Aarushi Sinha (2020) Foreign Direct Investment and Employment Outcomes in Developing Countries, The World Bank Group (pp 57) Retrieved on 09/21-25/2021, from: https://documents1.worldbank.org/curated/en/956231593150550672/pdf/ForeignDirect-Investment-and-Employment-Outcomes-in-Developing-Countries-ALiterature-Review-of-the-Effects-of-FDI-on-Job-Creation-and-Wages.pdf Dr Lam Thanh Ha (2019) Chinese FDI in Vietnam: Trends, Status and Challenges ISEAS Yusof Ishak Institute Retrieved on 09/28/2021, from: https://www.iseas.edu.sg/images/pdf/ISEAS_Perspective_2019_34.pdf Statistics (14/09/2021), Tình hình xuất hàng hóa từ số nước/vùng lãnh thổ chia theo mặt hàng chủ yếu tháng 08 tháng năm 2021, thống kê Hải quan Truy cập ngày 23-28/09/2021, tại: https://customs.gov.vn/Lists/ThongKeHaiQuanLichCongBo/Attachments/1545/20 21-T08T-5X(VN-SB).pdf 14/09/2021, Tình hình nhập hàng hóa từ số nước/vùng lãnh thổ chia theo mặt hàng chủ yếu tháng 08 tháng năm 2021, thống kê Hải quan Truy cập ngày 28/09/2021, tại: https://customs.gov.vn/Lists/ThongKeHaiQuanLichCongBo/Attachments/1544/20 21-T08T-5N(VN-SB).pdf 24/09/2021, Báo cáo tình hình đầu tư trực tiếp nước ngồi tháng năm 2021, Bộ Kế hoạch Đầu tư Truy cập ngày 24-25/09/2021, tại: http://www.mpi.gov.vn/Pages/tinbai.aspx?idTin=51554&idcm=208 28/08/2021, Báo cáo tình hình kinh tế - xã hội tháng tháng đầu năm 2021, Bộ Kế hoạch Đầu tư Truy cập ngày 25-26/09/2021, tại: http://www.mpi.gov.vn/Pages/tinbai.aspx?idTin=51278&idcm=293 - End - 21 | Page