Impact asessment of foreign direct investment (FDI) on the economy of hung yen province (1998 2010

IMPACT ASSESSMENT OF FOREIGN DIRECT INVESTMENT (FDI) ON THE ECONOMY OF HUNG YEN PROVINCE (1998-2010) _ A DISSERTATION Presented to the Faculty of the Graduate School Southern Luzon State University, Lucban, Quezon, Philippines in Collaboration with Thai Nguyen University, Socialist Republic of Vietnam _ In Partial Fulfillment of the Requirements for the Degree Doctor of Business Administration _ By PHAM THI TUYET NHUNG (ANNA) December 2013 i APPROVAL SHEET The Dissertation of PHAM THI TUYET NHUNG entitled IMPACT ASSESSMENT OF FOREIGN DIRECT INVESTMENT (FDI) ON THE ECONOMY OF HUNG YEN PROVINCE (1998-2010) Submitted in Partial Fulfilment of the Requirements for the Degree DOCTOR OF BUSINESS ADMINISTRATION A program offered by Southern Luzon State University, Republic of the Philippines in collaboration with Thai Nguyen University, Socialist Republic of Vietnam has been approved by Oral Examination Committee WALBERTO A MACARAAN, EdD Expert CONRADO L ABRAHAM, PhD Expert MELCHOR MELO O PLACINO, PhD Expert EDWIN P BERNAL, DBA External Panel CECILIA N GASCON, PhD Chairman Endorsed by: Recommended by: TRAN CHI THIEN, PhD Adviser APOLONIA A ESPINOSA, PhD Dean Accepted in Partial Fulfilment of the Requirements for the Degree Doctor of Business Administration _ Date WALBERTO A MACARAAN, EdD Vice President for Academic Affairs ii CERTIFICATE OF ORIGINALITY This is to certify that the dissertation entitled: “IMPACT ASSESSMENT OF FOREIGN DIRECT INVESTMENT (FDI) ON THE ECONOMY OF HUNG YEN PROVINCE (1998-2010)”, orally defended under the DBA Program jointly offered by Southern Luzon State University of the Republic of the Philippines and Thai Nguyen University of the Socialist Republic of Vietnam, embodies the result of original and scholarly work carried out by the undersigned This dissertation does not contain words or ideas taken from published sources or written works by other persons which have been accepted as basis for the award of any degree from other higher education institutions, except where proper referencing and acknowledgement were made PHAM THI TUYET NHUNG Candidate Date Orally Defended: June 24, 2013 iii ACKNOWLEDGMENT Throughout the course of research leading to the completion of this dissertation, the researcher would like to express her deep gratitude to the following persons who have supported her with tremendous help in one way or another: Associate Professor, Dr Tran Chi Thien, her advisor, for his invaluable thoughts, insightful suggestions and useful guidance throughout the writing of the dissertation; Committee Members, for their propositions, valuable comments, and constructive suggestions, which were of substantial value to this study; Professors of Southern Luzon State University (SLSU) and Thai Nguyen University (TNU), for their insightful lectures in different subjects that provided her knowledge and technique to develop a good research Friends and colleagues, for their meaningful discussion, hospitality and friendship; Finally, her parents, her husband, her sons and her brother, who always encourage and help her in every situation They have been a great source of encouragement, enhancing her strength to overcome difficulties during the completion of the DBA program Pham Thi Tuyet Nhung iv DEDICATION This intellectual endeavor is wholeheartedly dedicated to my friends and colleagues, my parents, my husband, my sons and my brother Pham Thi Tuyet Nhung v TABLE OF CONTENTS PAGE TITLE PAGE ……………………………………………………………… i APPROVAL SHEET ……………………………………………………… ii CERTIFICATE OF ORIGINALITY ……………………………………… iii ACKNOWLEDGMENT ………………………………………………… iv DEDICATION ……………………………………………………………… v TABLE OF CONTENTS ………………………………………………… vi LIST OF TABLES ………………………………………………………… viii LIST OF FIGURES ……………………………………………………… ix LIST OF APPENDICES ………………………………………………… x ABSTRACT ………………………………………………………………… xi CHAPTER I II III IV INTRODUCTION …………………………………………… Background of the Study ………………………………… Objectives of the Study …………………………………… Hypothesis of the Study …………………………………… Significance of the Study ………………………………… Scope and Limitations of the Study ……………………… Definition of Terms ………………………………………… REVIEW OF LITERATURE ……………………………… Theoretical Framework ………………………………….… 29 METHODOLOGY Research Design …………………………………………… 30 Data Gathering Procedure ………………… …………… 32 Statistical Treatment ………………… …………………… 33 Analytical Framework …….……………………….…….… 44 RESULTS AND DISCUSSIONS ………………………… 46 vi V SUMMARY, CONCLUSIONS AND RECOMMENDATIONS Summary ……………….…………………………………… 79 Conclusions ………………………………………………… 79 Recommendations ………………………………………… 80 REFERENCES …………………………………………………………… 82 APPENDICES …………………………………………………………… 87 CURRICULUM VITAE …………………………………………………… 95 vii LIST OF TABLES TABLE PAGE Comparison of the Component Indicators of PCI of Hung Yen Province to the Highest Score of Vietnam in 2010 … 49 Comparison of the Component Indicators of PCI of Hung Yen Province to the Highest Score of Vietnam In 2012 … 50 Summary of ADF Unit Root Test Result …………………… 53 Summary of PP Unit Root Test Result ……………………… 54 The Result of the Model (I) Estimation ……………………… 56 The Result of the Serial Correlation Test in Model (I) …… 58 The Result of the Heteroskedasticity Test in Model (I) …… 59 Result of the Model’s (II) Estimation ………………………… 61 Result of the Serial Correction Test in Model (II) ………… 63 10 The Result of the Heteroskedasticity Test in Model (II) …… 64 11 The Result of the Model (III) Estimation …………………… 66 12 The Result of the Serial Correction Test in Model (III) …… 68 13 The Result of the Heteroskedasticity Test in Model (III) … 69 14 The Result of the Model (IV) Estimation …………………… 70 15 Result of the Serial Correction Test in Model (IV) ………… 73 16 Result of the Heteroskedasticity Test in Model (IV) ……… 74 17 Summary of the Result of the OLS Estimation …………… 76 18 The Result of Projection ……………………………………… viii 78 LIST OF FIGURES FIGURE PAGE Foreign Direct Investment in Vietnam from 1988-2012 …… 17 Rate of the Implemented FDI capita in Vietnam in 19882012 ……………………………………………………………… 17 Theoretical Framework ……………………………………………… 29 Analytical Framework ………………………………………… 44 PCI of Hung Yen Province from 2005-2012 ………………… 48 Impact of PCI on FDI Inflows in Hung Yen Province ……… 51 The Development Trends of Variables ……………………… 52 Result of the Normal Distribution Test for Residual in Model (I) ………………………………………………………………… 57 The Result of the Normal Distribution Test for Residual in Model (II) ………………………………………………………… 62 The Result of the Normal Distribution Test for Residual in Model (III) ……………………………………………………… 67 The Result of the Normal Distribution Test for Residual in Model (IV) ……………………………………………………… 72 10 11 ix LIST OF APPENDICES APPENDIX PAGE A Provincial Competitiveness Index of Hung Yen Province 88 B Correlation Matrix of Variables …………………………… 89 C Data on the Indicators in Hung Yen Province …………… 90 D FDI in Vietnam for the Period 1988-2012 ………………… 91 E Descriptive Statistics of Variables ………………………… 92 F FDI inflows in Vietnam by Province up to December 2012 93 ` x 81 should: (1) Because the FDI inflows of Hung Yen province were not clearly affected by the PCI for the period of 2005-2012, there is a need to study for a longer time (2)To reform administration to help the land access and tenure of the FDI enterprises is easy and stability, the time costs of the FDI enterprises is the lowest and the legal institutions of the FDI enterprises is fair (3) Quickly increase the rate of trained labors in the economy, particularly in domestic enterprises, to meet the requirement for a high-skill labor force of high-tech industries Since high- skill labor intensive technologies can bring about more FDI capital that in turn help to improve CPI and increase RGDP and Export (4) To improve the management capability of the province, improve the investing environment to attract more FDI in the competitive global context 82 REFERENCES Ahn, Y.S., Adji, S.S and Willett, T.D (1998) “The effect of inflation 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Vung tau Ha Noi Dong Nai Binh Duong Ha Tinh Hai Phong Thanh Hoa Phu Yen Hai Duong Quang Nam Quang Ninh Bac Ninh Quang Ngai Đa Nang Long An Kien Giang Gas Vinh Phuc Hung Yen Thua Thien-Hue Tay Ninh Bac Giang Nghe An Bình Thuận Tien Giang Khanh Hoa Ninh Binh Lao Cai Can Tho Ca Mau Ninh Thuan Binh Phuoc Binh Đinh Hau Giang Ha Nam Lam Đong Phu Tho Hoa Binh Ben Tre Thai Binh Nam Đinh Lang Son Thai Nguyen Number of projects Registered capital (USD) Chartered capital (USD) 4235 291 2461 1106 2252 46 371 44 57 274 79 97 297 23 239 448 32 49 148 240 67 200 100 33 100 51 88 27 35 59 29 103 52 12 55 114 79 30 31 32 41 30 32 32,254,488,099 26,338,986,818 21,207,716,809 20,124,421,541 17,551,955,734 8,447,113,000 7,358,773,614 7,150,235,144 6,531,204,438 5,377,129,794 4,984,233,719 4,199,339,554 4,164,325,552 3,814,218,479 3,627,576,036 3,544,533,856 3,050,839,976 2,753,691,815 2,466,927,298 2,119,413,392 1,948,304,938 1,627,481,286 1,587,844,697 1,543,728,529 1,473,442,568 1,072,713,528 1,030,227,341 938,082,878 855,286,322 801,090,186 780,600,000 775,641,566 765,418,000 693,010,000 680,266,666 508,467,490 497,336,064 454,902,066 317,660,391 255,491,518 251,262,206 249,273,579 192,503,586 148,414,337 11,788,913,840 7,315,323,140 7,627,776,543 7,870,916,725 6,460,833,979 2,840,717,630 2,477,859,148 518,958,987 1,473,136,655 1,615,151,490 1,229,309,806 1,155,757,220 892,687,432 637,757,449 1,655,201,737 1,423,807,201 1,437,599,850 2,386,691,815 723,249,269 796,732,175 484,299,035 999,278,795 1,144,323,320 249,273,308 430,118,900 388,139,732 313,966,666 258,006,594 281,895,857 722,856,072 6,500,000 254,819,678 449,214,380 288,098,000 395,466,666 168,593,165 236,287,792 255,615,205 103,500,157 157,319,927 87,684,582 153,709,322 130,340,314 102,541,405 94 No Province Number of projects Registered capital (USD) Chartered capital (USD) 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 Đac Lac Tra Vinh Vinh Long An Giang Tuyen Quang Son La Yen Bai Bac Lieu Gia Lai Kon Tum Quang Tri Đong Thap Quang Binh Cao Bang Soc Trang Đac Nong Bac Can Ha Giang 31 23 20 10 19 17 12 16 16 14 10 146,368,750 130,263,596 127,774,240 123,590,190 120,602,026 116,379,684 99,976,995 89,175,370 85,651,616 71,950,000 67,689,500 46,830,537 34,783,800 34,625,000 30,043,000 19,659,000 17,905,667 13,306,886 11,168,750 76,640,596 85,764,240 58,951,817 24,479,630 16,072,000 65,769,111 71,919,411 21,810,000 71,950,000 26,217,100 40,970,537 15,213,800 29,200,000 16,763,000 9,051,770 8,437,667 9,313,012 63 Lai Chau 4,001,136 3,001,136 95 CURRICULUM VITAE I Personal Information Name : PHAM THI TUYET NHUNG Birthdate : May 23, 1971 Birthplace: Hung Yen province Nationality: Vietnam Sex/ Marital Status: Female/ marriage Contact address: • Current residence • Phone: o Mobile • No.22/1002 Lang street – Hanoi- Vietnam 09-86-651-934 Email address: nbibach@yahoo.com.vn II Educational Qualification Institution Date from Date to Degree(s) or Diploma(s) obtained: Hanoi National University Education 2000-2002 Degree, Master of Mathematics Hanoi National University Education 1993 -1995 Bachelor of Information and Technology Hanoi National University Education 1988 -1992 Degree of Bachelor of Mathematics III Experiences Year Employed : 20 Position : Lecturer Agency Name : University of Labor and Social Affairs (ULSA) Address : No 43, Tran Duy Hung street- Hanoi- Vietnam ... SHEET The Dissertation of PHAM THI TUYET NHUNG entitled IMPACT ASSESSMENT OF FOREIGN DIRECT INVESTMENT (FDI) ON THE ECONOMY OF HUNG YEN PROVINCE (1998- 2010) Submitted in Partial Fulfilment of the. .. FOREIGN DIRECT INVESTMENT (FDI) ON THE ECONOMY OF HUNG YEN PROVINCE (1998- 2010) ”, orally defended under the DBA Program jointly offered by Southern Luzon State University of the Republic of the Philippines... LIST OF TABLES TABLE PAGE Comparison of the Component Indicators of PCI of Hung Yen Province to the Highest Score of Vietnam in 2010 … 49 Comparison of the Component Indicators of PCI of Hung Yen