The impacts of foreign direct nvestment on sustainable development goals

The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals The impacts of foreign direct nvestment on sustainable development goals

MINISTRY OF EDUCATION AND TRAINING FOREIGN TRADE UNIVERSITY *** MASTER THESIS THE IMPACTS OF FOREIGN DIRECT NVESTMENT ON SUSTAINABLE DEVELOPMENT GOALS SPECIALISATION: INTERNATIONAL ECONOMICS NGUYEN THIEN THANH THAO Hanoi – 2023 MINISTRY OF EDUCATION AND TRAINING FOREIGN TRADE UNIVERSITY *** MASTER THESIS THE IMPACTS OF FOREIGN DIRECT NVESTMENT ON SUSTAINABLE DEVELOPMENT GOALS Specialisation: International Economics Code: 821422 Full name: Nguyen Thien Thanh Thao Supervisor: Assoc Prof Dr Nguyen Thi Tuong Anh Hanoi – 2023 i DECLARATION OF ORIGINALITY I declare that this thesis has been composed solely by myself and that it has not been submitted, in whole or in part, in any previous application for a degree Where other people’s works are used, this has been properly acknowledged and referenced Hanoi, July 2023 Nguyen Thien Thanh Thao ii ACKNOWLEDGEMENT My master thesis would not have been done without great intellectual and spiritual supports from many important people in my life The completion of this thesis has been a long and memorable journey with many ups and downs I am extremely grateful for all lessons I have learned and all people who have accompanied me through hardship From the bottom of my heart, I would like to express my thanks for everything all of you have done for me First of all, I would like to express my great gratitude to my supervisor - Assoc Prof Dr Nguyen Thi Tuong Anh for her valuable and constructive suggestions during the development of this work I would like to express my gratitude to all teachers at the Faculty of Postgraduate Studies, especially to Assoc Prof Dr Tang Van Nghia, Dr Cao Thi Hong Vinh and M.A Tran Duc Huy Without their timely encouragement and support, I might not have completed the full’s master’s programme in International Economics My sincere thanks go to other professors and lecturers of the Faculty of International Economics - Assoc Prof Hoang Xuan Binh, Assoc Prof Tu Thuy Anh, Dr Luong Thi Ngoc Oanh, Dr Ly Hoang Phu and Dr Vu Thi Phuong Mai who have nurtured and inspired the passion of studying economics in me I also would like to express my sincere appreciation to my dearest friends for all supports and motivations I wish to thank all of my classmates of MIE4B – Mr Nguyen Tat Binh, Ms Mai Thi Ngoc Anh, Mr Tran Hoang Trung, Mr Nguyen Duc Phuong, Ms Dinh Cam Tu, Ms Phuong Anh Tran and Ms Do Quynh Trang for what we have experienced together over the past two years Words can not express how grateful I am to my family for the care, understanding, patience, for always being there and support me Dear me, thanks for always doing your best I am grateful for the way I have supported myself and for all the little achievements I make every day iii TABLE OF CONTENTS DECLARATION OF ORIGINALITY i ACKNOWLEDGEMENT ii TABLE OF CONTENTS iii TABLE OF ABBREVIATIONS vi LIST OF FIGURES AND TABLES viii SUMMARY OF THESIS RESEARCH RESULTS x INTRODUCTION .1 CHAPTER THEORETICAL FRAMEWORK AND PRACTICAL BASIS OF THE IMPACTS OF FOREIGN DIRECT INVESTMENT ON SUSTAINABLE DEVELOPMENT GOALS .10 1.1 Overview of foreign direct investment 10 1.1.1 Definition of foreign direct investment .10 1.1.2 Main features of foreign direct investment 11 1.1.3 Classification of foreign direct investment 14 1.1.4 The role of foreign direct investment in the host country 17 1.2 Overview of sustainable development goals 21 1.2.1 Sustainable development goals: History and implementation process 21 1.2.2 Global indicator framework for the Sustainable Development Goals.26 1.3 The impacts of foreign direct investment on sustainable development goals: Conceptual framework 27 1.3.1 FDI Qualities Indicators 27 1.3.2 Channel effects of foreign direct investment on sustainable development goals 29 1.3.3 The impacts of foreign direct investment on sustainable development goals: Conceptual framework 31 CHAPTER THE IMPACTS OF FOREIGN DIRECT INVESTMENT ON SUSTAINABLE DEVELOPMENT GOALS IN OECD COUNTRIES 37 2.1 Introduction about OECD countries 37 iv 2.2 Fact of foreign direct investment and sustainable development goals in OECD countries 38 2.2.1 Overview of OECD Foreign Direct Investment 38 2.2.2 Assessing OECD countries’ performance on SDGs 41 2.3 The impacts of foreign direct investment on sustainable development goals in OECD countries .47 2.3.1 The impacts of FDI on productivity and innovation .47 2.3.2 The impacts of FDI on job quality and skills 55 2.3.3 The impacts of FDI on gender equality 61 2.3.4 The impacts of FDI on carbon emissions 65 2.4 Assessment of the impacts of foreign direct investment on sustainable development goals in OECD countries 69 2.4.1 Positive impacts .69 2.4.2 Negative impacts .70 CHAPTER RECOMMENDATIONS TO IMPROVE THE IMPACTS OF FOREIGN DIRECT INVESTMENT ON SUSTAINABLE DEVELOPMENT GOALS IN OECD COUNTRIES 72 3.1 Leverage competition Policy: Incentives-based and Rules-based Competition to attract FDI 72 3.1.1 Incentives-based competition 72 3.1.2 Rules-based Competition 73 3.2 Recommendations to improve the FDI impacts on productivity and innovation .74 3.2.1 Deliver a well-planned course of action and ensure consistency and harmony in policies concerning the growth of SMEs, innovation, and investment .74 3.2.2 Ensure that the regulations at both the local and global levels promote a business-friendly environment that encourages productivity and innovation driven by FDI .77 v 3.3 Recommendations to improve the FDI impacts on job quality and skills .78 3.3.1 Offer guidance for strategic planning and guarantee harmonized policies regarding investment, workforce and enhancement of skills .78 3.3.2 Ensure that regulations support investment and labour market adjustments that create good job opportunities for all and are adapted to a changing world of work .80 3.3.3 Stimulate labour demand and develop workers’ skills through targeted investment and active labour market policies and programmes 82 3.3.4 The resolution of information gaps and reduction of administrative obstacles are vital to ensure investment opportunities are in line with labor market demands 84 3.4 Recommendations to improve the FDI impacts on gender equality 86 3.4.1 Offer explicit guidance on strategic investments aimed at promoting gender equality 86 3.4.2 Ensure that local regulations conform with international standards and uphold the positive impact of FDI in advancing gender equality .87 3.4.3 Remove barriers and prejudices that limit women's opportunities in the workforce, including biased information and gender stereotypes Also, offer social support resources to empower women to participate in the workforce .90 3.5 Recommendations to improve the FDI impacts on decreasing carbon emissions .91 3.5.1 Offer astute direction and ensure congruity in strategies related to investing, emphasizing the importance of extensive planning and efficiency .91 3.5.2 Comply with global accords and protocols that strengthen climate goals 92 3.5.3 National policies and rules should be designed to promote initiatives aimed at mitigating the effects of climate change .94 3.5.4 Encourage investments and enhance expertise in eco-friendly technology, services, and infrastructure 95 CONCLUSION 97 REFERENCES 99 vi TABLE OF ABBREVIATIONS BIT CEDAW Bilateral Investment Treaty UN Convention on the Elimination of All Forms of Discrimination against Women CETA EU-Canada Comprehensive Economic and Trade Agreement CIT Corporate Income Tax CUSBTA Cambodia – US Bilateral Textile Agreement DESA Department of Economic and Social Affairs EC European Commission EIA Environmental Impact Assessment ESG Environmental Social Governance FDI Foreign Direct Investment FTA Free trade agreements G20 Group of Twenty GDP Gross domestic product GHG Greenhouse Gas GPEDC Global Partnership for Effective Development Co-operation GVC Global Value Chains ICT Information and Communication Services IIA International Investment Agreement IIP International Investment Position ILO International Labour Organization ILO International Labor Organization vii IMF International Monetary Fund IPRs Intellectual property rights KPI Key Performance Indicators M&A Mergers and Acquisitions M&E Monitoring and Evaluation MDG Millennium Development Goals MNE Multinational Enterprise NDC Nationally Determined Contribution OECD Organisation for Economic Co-operation and Development OEEC Organization for European Economic Cooperation R&D National research and development RTA Regional Trade Agreement SDG Sustainable Development Goal SEA Strategic Environmental Assessment UN United Nations UNCTAD United Nations Conference on Trade and Development UNFCCC United Nations Framework Convention on Climate Change USMCA United States – Mexico – Canada Agreement VAT Value Added Tax WB World Bank WTO World Trade Organisation viii LIST OF FIGURES AND TABLES Figures: Figure 1.1 17 Sustainable development goals 23 Figure 1.2 The impacts of foreign direct investment on sustainable development goals: Conceptual framework 32 Figure 2.1 FDI inflows to selected areas, 2005-22 (USD billion) 38 Figure 2.2 FDI inflows to selected countries, 2021-22 (USD billion) 39 Figure 2.3 FDI outflows from selected areas, 2005-22 (USD billion) 40 Figure 2.4 FDI outflows from selected countries, 2021-22 (USD billion) 40 Figure 2.5 OECD average distance from achieving SDG targets 41 Figure 2.6 Conceptual framework: Impacts of FDI on productivity and innovation 48 Figure 2.7 Concentration of FDI based on sectoral productivity and R&D performance .49 Figure 2.8 Productivity premium of foreign firms in OECD and non-OECD economies 49 Figure 2.9 Conceptual framework: FDI impacts on job quality and skills development 56 Figure 2.10 Foreign firms’ wage and productivity premia in OECD and emerging countries 60 Figure 2.11 Conceptual framework: FDI impacts on gender equality in the labour market 62 Figure 2.12 Contribution of FDI to gender equality in wages and employment .64 Figure 2.13 Conceptual framework: FDI impacts on carbon emissions 66 97 CONCLUSION FDI refers to foreign investment where a party from one country channels substantial capital towards a project in another country to achieve the management or join the management dimension of that project The SDGs are based on six themes including: dignity, people, planet, partnerships, justice and prosperity As the world approaches the halfway point in the execution of the 2030 Agenda, it appears that the majority of the SDGs are not likely to be achieved by the projected deadline While some spheres have seen advancements, there is serious concern regarding the pace or regression in attaining a significant proportion of the set objectives The objective of this study is to shed light on how FDI affects the achievement of SDGs through three predominant channels, namely value chain relationship, labour mobility, and competition effects FDI is instrumental in driving advancements towards the achievement of the SDGs It has the potential to improve growth and innovation, foster the creation of high-quality jobs, promote the development of human capital, and improve both living standards and environmental sustainability By establishing connections between domestic firms and multinational enterprises, it acts as a channel for domestic firms to reach global markets and become part of global value chains However, it is important to note that the outcomes of FDI cannot always be characterized as solely positive, as these impacts tend to vary across different dimensions of sustainable development The distribution of FDI across nations has exhibited varying degrees of benefits, with certain countries reaping greater advantages than their counterparts Furthermore, within these individual nations, specific segments of the population have been disproportionally excluded from the benefits accrued by FDI inflows Efforts to facilitate investment mobilization should be harmonized with considerations regarding the characteristics and ramifications of investment, encompassing advancements towards the SDGs Moreover it cannot be assumed that the recognition of these beneficial impacts on sustainable development is guaranteed Smart investors focused on making profits 98 may not prioritize maximizing benefits and minimizing risks associated with FDI, while policymakers aiming to attract investment may not give adequate attention to this matter While the potential for sustainable development exists with FDI, it is crucial to carefully consider the incentives of the private sector and the policies of both the home and host countries, as they play a significant role in harnessing this potential The effects of FDI greatly rely on the policies implemented by the country hosting the investment This master thesis focuses on evaluating the extent to which foreign investment contributes to sustainable development and recommends policies for maximizing its positive effects while minimizing potential drawbacks In order to improve the impacts of FDI on SDGs’ 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