Đầu tư trực tiếp của nhật bản vào việt nam từ sau khủng hoảng tài chính toàn cầu năm 2008 đến nay thực trạng và giải pháp TT TIENG ANH

VIETNAM ACADEMY OF SOCIAL SCIENCES GRADUATE ACADEMY OF SOCIAL SCIENCES NGUYEN THI NGOC YEN JAPAN’S FOREIGN DIRECT INVESTMENT INTO VIETNAM SINCE THE 2008 GLOBAL FINANCIAL CRISIS: CURRENT STATUS AND SOLUTIONS Major: International economics Major code: 9.31.01.06 CONTENT OF THESIS SUMMARY (International economics) HANOI – 2021 The work is completed at: ……………………… ……… ……………………………………………………………… Full name of scientific instructor: Associate Professor Doctor Nguyen Thanh Duc Doctor Tran Thi Hong Minh Reviewer 1: ………………………………………………… ……………………………………………………………………… Reviewer 2: ………………………………………………… ……………………………………………………………………… Reviewer 3: ………………………………………………… ……………………………………………………………………… The dissertation will be defended before the Academy-level Thesis Judging Council meets at…………………………………… …………………………………….at…………hours……….minute, day………….month………… …year………… Thesis can be found at the library: PREAMBLE Urgency of the topic Foreign direct investment (FDI) has been playing an important role in the economic development of many countries around the world In the contribution of FDI to Vietnam's economy, there is an increasingly important contribution of Japan's FDI After the global financial crisis in 2008, in 2009 with the establishment of the relationship "Strategic Partnership for Peace and Prosperity in Asia" and upgraded to the relationship "Extensive Strategic Partnership for Peace and Prosperity" honor in Asia" in 2014, the cooperation relationship between the two countries has developed very rapidly in almost all fields, including investment relations Since 2012 until now, due to political tensions between the two countries Japan - China continuously increased, Japan has rotated its investment to Southeast Asian countries, including Vietnam Especially after the EU-Vietnam Free Trade Agreement (EVFTA) was signed (December 2015), and the CPTPP Agreement was signed in October 2015, a new wave of Japanese investment in Japan appeared Vietnam In recent years, Japan is one of the two countries with large FDI into Vietnam According to statistics of the Ministry of Planning and Investment, by the end of December 2020, Japan is the second largest investor out of 139 countries and territories investing in Vietnam with a total investment capital of more than 62.9 billion USD, accounting for 15.7% of total FDI investment in Vietnam (Ministry of Planning and Investment, 2020) Thus, Japan's FDI in the recent period has made many positive contributions to Vietnam's socio-economic development However, for Vietnam, the results of Japan's FDI attraction to Vietnam over the past time still have some shortcomings In terms of capital, Japanese investment in Vietnam is still small compared to Japan's investment in ASEAN countries, still not commensurate with Japan's potential as well as Vietnam's requirements Regarding the scale of the project, Japanese investment in Vietnam is still mainly projects small and medium projects Regarding the structure of investment by industry, it is still unreasonable, such as focusing too much on industries, especially processing and manufacturing, while investment in the agricultural sector is still small (just started to be developed) declared in the last 1.2 years); Japanese investment in the banking and financial sector is still low In terms of investment forms, the main ones are still 100% foreign-owned enterprises of Japan Regarding technology transfer, Japanese enterprises often transfer quite advanced technologies to Vietnam, but there are still very few Japanese FDI enterprises that transfer modern technology and source technology, the transfer is small partial drops These inadequacies are due to the following reasons: The system of legal policies and policies related to FDI attraction is still inadequate; Infrastructure is not modern, lack of synchronization; Vietnam still lacks many skilled workers, high quality human resources, as well as middle management staff; The supporting industry has not really developed; Investment promotion activities are not strong and effective Investment promotion network has not been created in Japan So how to overcome the causes of the above mentioned problems in attracting Japanese FDI to Vietnam? What solutions we need to effectively attract Japanese FDI into Vietnam in the coming time? To answer those questions, the author has chosen the topic: " Japanese direct investment in Vietnam since the global financial crisis in 2008 up to now: Current situation and solutions" as the topic Doctoral thesis Purpose and mission of the study 2.1 Purpose The thesis is carried out to find out solutions to help Vietnam effectively attract Japanese FDI in the context of the international economy created by the 2008 global financial crisis 2.2 Mission - Research on general theoretical issues on attracting FDI into a country; - Analysis of the current situation of attracting Japanese FDI into Vietnam since the global financial crisis in 2008 up to now; - Investigate, survey and analyze factors affecting the decision of direct investment of Japanese enterprises in Vietnam; - Assessing the impact of Japanese FDI on Vietnam's economy since the global financial crisis in 2008 up to now; - Proposing a number of solutions to enhance the effective attraction of Japanese FDI into Vietnam in the coming time Object and scope of research 3.1 Objects: The research object of the thesis is the theoretical and practical issues of attracting foreign direct investment into a country 3.2 Research scope In terms of space: Attracting Japanese direct investment to Vietnam in the whole country, especially going into some provinces with many Japanese FDI projects About time: Studying the reality of attracting Japanese direct investment to Vietnam from the global financial crisis in 2008 to 2020 and proposing solutions to 2025, vision to 2030 Regarding the content: Attracting Japanese FDI into Vietnam includes: investment scale, investment form, investment structure by industry, investment structure by province, territory, investment structure by partner Subjects approaching and researching: Macro: Government, Ministries and local authorities (Provinces, Cities directly under the Central Government) About approach: The thesis presents Japanese FDI into Vietnam from the perspective of attracting FDI, not managing and using FDI Therefore, the author focuses more on policies and solutions to attract FDI of the Vietnamese Government than from the perspective of the Japanese Government Methodology and research methods 4.1 Methodology: The thesis uses a systematic approach and a practical approach to understand and evaluate the research problem 4.2 Research methods: The thesis uses synchronously scientific research methods such as international economic analysis, logic-history, analysis-synthesis, comparison, statistics, and expert opinion Specifically: - Collect data: + Secondary data: The study uses systematic and reliable data of government organizations as well as reputable individuals in the country as well as internationally + Primary data: Data collected by the author from a survey of Japanese enterprises in Vietnam in 2020 - Comparative method: including series comparison and cross comparison, used to calculate a number of indicators reflecting the fluctuation of Japanese FDI inflows from after the global financial crisis in 2008 to 2020 - Methods of statistics: From the report, financial data collected to build up the list of data to be represented held under form of tables, preliminary map, the map over the years to intelligent graphics and enable the effective study examined are reflect light clear definition, more efficient - Method of analysis and synthesis: Based on the collected data, the author analyzes and summarizes according to each content of the thesis - Expert method: According to the method of collecting expert opinions (Delpin), the minimum sample is 10, so the author selects 10 individuals belonging to the State management agencies and related units - Method of investigation and actual survey to determine the factors affecting the attraction of Japanese FDI to Vietnam, including steps: Step 1: Build a survey questionnaire Step 2: Conduct a survey for Japanese investors and businesses in Vietnam Research sample: In this thesis, the researcher applies the sample calculation formula based on the study of Hair, Anderson, Tatham and Black (1998) on the expected sample size, the minimum sample size is times the total number of important variables close Accordingly, the appropriate sample size using factor analysis is: N = 5*M Where: N is the number of samples selected; M is the number of questions included in the questionnaire With the construction of a questionnaire with 25 survey questions, we have: N = * 24 = 120 Therefore, the author chooses a sample of 200 Japanese enterprises with FDI capital in Vietnam to conduct the survey Survey method The author conducted a survey of 200 Japanese enterprises with FDI in localities such as Hanoi, Hai Phong, Hai Duong, Hung Yen, Bac Ninh, Thanh Hoa, Nghe An, Quang Nam, Quang Ngai, Binh Duong, and Ho Chi Minh City Ho Chi Minh Conduct surveys in person and online with the support of the administrative - human resources departments of enterprises for a period of months starting from August 2019 to January 2020 Statistical method of data: Collecting survey forms from businesses, using Excel tools to collect statistical results according to each influencing factor 4.3 Research question To achieve the research objective, the thesis needs to answer the following questions: Question What factors affect the process of attracting Japanese FDI to Vietnam after the global financial crisis in 2008? Question Existing problems in attracting Japanese FDI to Vietnam after 2008 up to now? Question What solutions are needed to effectively attract Japanese FDI into Vietnam in the coming time? 4.4 Research process, problem solving of the thesis New contributions to science - Thesis systematizes and clarifies the theoretical basis of FDI attraction - Analysis of the current situation of attracting Japanese FDI to Vietnam since the 2008 global financial crisis until now - Analysis of factors affecting Japanese FDI in Vietnam - Assess the impact of Japan's FDI on Vietnam's economy since the global financial crisis in 2008 up to now Theoretical and practical meanings Through investigating and surveying the reality of Japanese FDI enterprises in some localities, the thesis has clarified a number of issues such as factors affecting FDI attraction of Japanese enterprises to Vietnam and the effects of Japanese FDI enterprises in Vietnam What are the specific positive effects of Japanese FDI on the Vietnamese economy, and limitations in attracting Japanese FDI in Vietnamese localities From the results of analyzing the current situation of attracting FDI from Japan in some surveyed localities, the author has proposed a number of solutions to effectively attract Japanese FDI into Vietnam during this period the future (2022 - 2030) This is the basis for State management agencies and localities to have a comprehensive and practical view in order to set out a strategic development direction in the next period to strengthen and promote the important wave of investment from Japan Ban to Vietnam and other localities in the near future Thesis structure In addition to the Introduction, Conclusion, List of Tables, List of Abbreviations, List of References and Appendix, the thesis is structured into chapters: Chapter 1: Overview of the research situation Chapter 2: Theoretical basis for attracting foreign direct investment Chapter 3: The reality of attracting foreign direct investment from Japan to Vietnam since the global financial crisis in 2008 up to now Chapter 4: A number of solutions to enhance the effective attraction of Japanese foreign direct investment to Vietnam in the coming time Chapter RESEARCH SITUATION OVERVIEW 1.1 Studies on the context after the 2008 global financial crisis for FDI 1.2 Studies on Japanese FDI abroad after the global financial crisis in 2008 1.3 Studies on Japanese FDI into Vietnam since the global financial crisis in 2008 1.3.1 Foreign studies Professor Tran Van Tho, professor at Waseda University, Tokyo, member of the Economic Advisory Committee of the Japanese Government, in the article "New phase of Vietnam-Japan relations: transition from ODA to FDI", Published in the Saigon Economic Times on September 18, 2003, discussed the issue: whether the relationship between the two countries can shift the focus from ODA to FDI or not? If Vietnam can attract strong FDI from Japan, then Vietnam's economy can have a breakthrough Because with Vietnam, which is putting industrialization as a top strategy, Japanese FDI has a particularly important meaning Mr Shojiro Tokugana, in the book "Japan's outward investment and economic interdependence in Asia" (Shojiro Tokugana, 1996) analyzed the shift of Japanese investment to Asia since the early years of 1990, because Asia is emerging as a dynamic and potential development region, due to the dependence of Asian countries on Japan as a major supplier of finance, technology, and Japan at the heart of the Asian manufacturing network Mr Hirotaka Yasuzumi, Chief Representative of JETRO Organization in Ho Chi Minh City, in an interview with a reporter for the "News" newspaper on September 17, 2015, said that Vietnam is increasingly attractive to Japanese FDI enterprises That is due to two factors, firstly, if the TPP Agreement is signed, Japanese exporters will invest more heavily in Vietnam, in order to take advantage of the zero export tax; secondly, the actual size of the Vietnamese market is increasing because Vietnam's per capita income increases, making the market's purchasing power increasingly larger Atsusuke Kawada, Head of JETRO Representative Office in Hanoi, said that with the current trend of population aging in Japan, in the coming years, many Japanese small and medium enterprises will choose Vietnam as a destination to investment He said that Vietnam has many attractive investment points such as cheap labor costs in Vietnam, stable sociopolitical situation, most Japanese enterprises doing business in Vietnam profitable, living environment for good resident employees However, he assessed that the investment environment in Vietnam still has many risks 1.3.2 Domestic studies The doctoral thesis " Direct investment of Japanese transnational companies in Vietnam " by Dinh Trung Thanh (2009) [50] analyzes the specifics of investment in Vietnam, showing the difference in FDI of Japanese TNCs in Vietnam Making scientific forecasts about the "second wave of investment" of Japanese TNCs into Vietnam on the basis of assessing the FDI diversion of Japanese TNCs and new developments in trade and investment cooperation Vietnam - Japan In the doctoral thesis " Japan's foreign direct investment in Vietnam " by Phan Van Tam (2011) [49], analyze the trend and structure of Japanese FDI in Vietnam from 1989 to 2009 by locality, territory and investment fields The author applies empirical analysis to the gravity model in attracting Japanese FDI to Vietnam in the period 2007-2009, showing that 11 economy economy of the host country, the purpose of the investor is to gain the right to actually manage the enterprise” [87] The Organization for Economic Co-operation and Development (OECD, 1996) states that: “FDI reflects the achievement of the objective of the long-term interests of an entity in an economy (direct investor) through an economic establishment in an economy other than that of the investor's home country (enterprise direct investor) [106] According to the 2005 investment law of Vietnam, "Foreign investment is the bringing into Vietnam by a foreign investor of capital in cash and other lawful assets to conduct investment activities in accordance with state law Section 12 – Article 3)” “FDI is an investment form in which foreign investors invest capital and participate in the management of investment activities in Vietnam, or Vietnamese investors invest capital and participate in the management of investment activities in foreign countries in accordance with the provisions of this Law and other relevant provisions of law” From the above concepts, it can be understood that FDI includes main characteristics: (i) long-term investment activities; (ii) the investor can be the government, TNCs or individuals from abroad; and (iii) investors directly participate in the management and operation of enterprises (this is what distinguishes FDI from indirect investment) If FDI is a form of international investment, attracting FDI is the activity of attracting investment capital from outside into a country To attract this capital, the host country must create an attractive investment environment for foreign investors In order to have an attractive investment environment, the host country must create a strong enough absorptive capacity Attraction here is also understood as "inviting, opening the way" to create favorable conditions for investors, on that basis, the following can be seen: Thus, attracting FDI is the application of measures and policies by the host country to foreign investors to bring capital, technology, management 12 experience, etc to direct investment by means of foreign investment different forms suitable to the common interests of both the investor and the host country 2.1.2 Basic forms of foreign direct investment 2.1.2.1 Business cooperation contract (BCC) 2.1.2.2 Joint Ventures Company (JVC) 2.1.2.3 Enterprises with 100% foreign capital (100% Foreign Owned Enterprises FOE) 2.1.2.4 Forms of BOT, BTO, BT 2.1.2.5 Acquisitions and mergers 2.2 Some theories on attracting foreign direct investment 2.2.1 Theory of international trade 2.2.2 Neoclassical growth theory 2.2.3 Endogenous growth theory 2.2.4 The theory of competitiveness 2.2.5 Theory of absorption capacity 2.3 Contents of basic indicators to evaluate the effectiveness of attracting foreign direct investment 2.3.1 Investment scale Size of registered FDI capital The scale of realized FDI capital is the actual investment capital spent by foreign investors for production and business activities in the host country Disbursement rate is the percentage of realized FDI over total registered FDI over time, calculated by the formula: Size of FDI project capital: the size of capital per project is used to assess the size of FDI projects in the host country 2.3.2 Investment form 2.3.3 Investment structure 2.3.3.1 Structure of FDI by industry 13 2.3.3.2 Structure of FDI by localities and territories 2.3.3.3 FDI capital structure by investment partner 2.4 Factors affecting the attraction of foreign direct investment 2.4.1 Factors in the international context 2.4.1.1 The trend of globalization and international economic integration 2.4.1.2 New trends in regional economic cooperation 2.4.1.3 Science and technology revolution, especially the industrial revolution 4.0 2.4.1.4 Covid-19 pandemic 2.4.2 Factors belonging to the host country 2.4.2.1 Institutional factors, State management policies on foreign direct investment The economic, political and social stability of the host country The system of legal policies and state management on FDI of the host country 2.4.2.2 Market factors Size and growth potential of the domestic market Business production costs The economic openness of the host country 2.4.2.3 Resource factor - Human resources of the host country - Geographical location - Natural resources of the host country 2.5 The impact of foreign direct investment on the host country 2.5.1 Positive impact 2.5.2 Negative impact 14 Chapter THE STATUS OF DIRECT INVESTMENT ATTRACTION JAPANESE FOREIGN INTEREST IN VIETNAM FROM THE GLOBAL FINANCIAL CRISIS IN 2008 TO NOW 3.1 The implementation of Japan's FDI attraction targets to Vietnam since the global financial crisis in 2008 up to now 3.1.1 Scale of Japanese FDI into Vietnam from 2008 to present 3.1.1.1 Size of registered FDI capital According to data from the Foreign Investment Agency (2020), accumulated to the end of December 2020, Vietnam has attracted 4,680 FDI projects from Japan with a total registered capital of more than 62.9 billion USD After the global financial crisis, Japan's registered FDI inflows into Vietnam are shown in main stages: - Period 2008 - 2013: This is the period when Japanese FDI into Vietnam experienced many reversals In 2008, Japan's registered FDI in Vietnam exploded with a record increase since Japan invested in Vietnam, with 212 projects reaching nearly $9.2 billion However, right after the global financial crisis occurred, which impacted the global economy in 2009, Japanese FDI into Vietnam dropped suddenly, reaching only 531.8 million USD with 110 projects Japanese FDI continues to increase again into Vietnam, within years (2010 - 2013), Japan's registered FDI in Vietnam has increased rapidly from 532 million USD in 2010 to nearly 10 times in 2013 reaching nearly USD 5.3 billion, adding 352 new projects, accounting for nearly 30% of total FDI capital (Foreign Investment Department, December 2013) - Period 2014 - 2018 Since 2014, economic difficulties in Japan have impacted Japanese investment in Vietnam to decline, Japan's FDI has decreased by more than 65% from 5.3 billion USD in 2013 to 2.3 billion USD billion USD In terms 15 of investment partners in 2014, Japan dropped to 4th place, this is the lowest position after many years of occupying the first and second positions [23] With Vietnam and a number of ASEAN countries opening up to investment very widely through the formation of the ASEAN Economic Community (AC) by the end of 2015, and the prospect of completing the signing of a trade agreement The Trans-Pacific Partnership (CPTPP) has opened up great investment opportunities for Japanese businesses in Vietnam The period 2015 - 2018 marked the rapid increase of Japanese FDI into Vietnam In 2018, the amount of newly licensed FDI from Japan into Vietnam was about $2.45 billion, more than twice as high as in 2017 (up 112%) [89] - The period 2019 - 2020 This is the period when all the countries that are heavily affected by the Covid-19 pandemic take place on a global scale This greatly affects FDI flows worldwide, including Japanese FDI into Vietnam In 2019, although the registered capital decreased by nearly times from 8.3 billion USD in 2018 to 2.93 billion USD, the additional FDI capital and the number of new projects invested by the Japanese side still grew impressively Compared to previous years, the number of licensed projects is 435, the highest ever In 2020 compared to previous years, Japanese FDI inflows into Vietnam are still affected by the Covid-19 pandemic, which continues to spread However, after the second wave of the COVID-19 outbreak was well controlled, Japanese FDI into Vietnam began to increase again According to the Ministry of Planning and Investment, FDI capital from Japan into Vietnam in 2020 will reach over 2.3 billion USD with 272 projects Notably, up to 15 out of 30 enterprises receiving subsidies from the Japanese Government to move their production bases to Southeast Asia have chosen Vietnam as a destination That shows that Japanese investors in particular and foreign investors in general have great confidence in the prospects of Vietnam's economy 3.1.1.2 Size of realized FDI capital 16 In terms of registered capital, Japanese FDI has ranked second for many years, but in terms of disbursement rate, Japanese investors have always been at the top According to the assessment, Japanese investors have a serious investment attitude, strictly comply with the provisions of the Investment Certificate on investment capital, capital contribution progress and project implementation schedule Therefore, usually investors register and deploy the project right after that, resulting in a high percentage of implemented capital/registered capital of Japanese enterprises 3.1.1.3 Scale of FDI project capital Accumulated until December 2020, although the majority of Japanese enterprises investing in Vietnam are small and medium-sized enterprises, the average capital size of a Japanese project is 13 million USD/project, still higher than that of Vietnam average investment per foreign project in Vietnam is 11.6 million USD/project (Calculated from data of Foreign Investment Agency, 2020) Thus, since 2008, although there have been projects with a scale of over billion USD, the majority of Japanese FDI projects invested in Vietnam are still small and medium projects 3.1.2 Form of Japanese FDI investment in Vietnam from 2008 to present If in the early stages, Japan's investment in Vietnam was mainly done in the form of joint ventures and business cooperation contracts, the later the investment in the form of a 100% foreign-owned company becomes more difficult increasingly high proportion Accumulated by the end of 2020, the form of 100% foreign capital from Japan amounted to 3,916 projects, the total investment capital reached nearly 35.84 billion USD, accounting for 83.67% of the total projects and 56.98% of the total number of projects investment Second is the joint venture form with 735 projects, with a total investment of nearly 22 billion USD, accounting for 15.7% of the total projects and 34.97% of the total 17 investment capital The remaining investment forms account for a very small proportion of total FDI from Japan This shows more confidence of Japanese investors in the investment environment in Vietnam, they tend to operate independently without having to rely on domestic partners to exploit favorable factors such as period before the global financial crisis 3.1.3 Structure of Japanese FDI investment in Vietnam from 2008 to present 3.1.3.1 Investment structure by industry and field According to the Foreign Investment Agency, up to now (by the end of 2020), Japan's FDI projects have been deployed in 19 industries and fields, focusing mainly on the investment processing and manufacturing industries the most with 1,830 projects (accounting for 33.55% of total projects) with total investment capital of 40.62 billion USD (accounting for 59.5% of total investment capital); ranked second is the field of professional activities, science and technology with 697 projects, accounting for 14.89% of the total projects with a total investment capital of 738.04 million USD, accounting for more than 1.17% of the total investment capital; the third is wholesale, retail and repair of cars and motorcycles with 692 projects accounting for 14.79% of total projects with a total capital of more than 1.9 billion USD, accounting for 3.03% of total investment capital , the rate of investment in agriculture is still low Thus, although the average size of Japanese FDI projects in industries is still small, there is still an imbalance in the allocation of capital between sectors, but so far there have been many large Japanese corporations Ban has been present in Vietnam with prestigious, competitive and high-tech products, many of which are substitutes for imports and actively participates in exports 3.1.3.2 Investment structure by locality and economic region By the end of December 2020, Japanese FDI was present in 57/63 provinces and cities nationwide Japanese investment projects in heavy industry are present in most of the provinces and cities and are concentrated in industrial parks such as: Hai Phong, Dong Nai, Vinh Phuc, Hai Duong, Ba Ria - Vung 18 Tau while the service sector is concentrated mainly in big cities, especially Hanoi and Ho Chi Minh City Ho Chi Minh Japanese FDI is still unevenly distributed among regions, provinces and cities throughout the country 3.1.3.3 Investment structure by investment partner Japan has always been one of the three largest investors in Vietnam According to the statistics of the Foreign Investment Department, by the end of December 20, 2020, Japan is the second country out of 139 countries and territories licensed to invest in Vietnam with a total number of projects registered projects are 4,632 projects, total registered capital is nearly 60.3 billion USD, accounting for 15.7% of total FDI investment in Vietnam 3.1.4 Comparing Japanese FDI into Vietnam in the period before the financial crisis (1997 - 2008) with the period after the global financial crisis (2009 - 2020) To see the whole picture of the change of FDI inflows from Japan to Vietnam after the global financial crisis, the author compares with the precrisis period and selects the period from 1997 to 2008 on the following criteria: Capital movements, international and domestic contexts affecting FDI, investment scale, investment form, investment structure 3.2 Factors affecting the attraction of Japanese FDI to Vietnam since the global financial crisis in 2008 until now 3.2.1 Factors belonging to the international context Firstly, after the 2008 crisis, developed economies had stagnant growth and low interest rates (even negative interest rates persisted), Second, emerging uncertainties in advanced economies have made these markets less attractive to many investors Third, an optimistic signal about the prosperity of emerging economies, especially emerging and developing Asian economies.Fourth, Japan's FDI has fluctuated sharply Analysis of the international and regional context after the global financial crisis shows that the movement of Japanese FDI flows has many 19 advantages for Vietnam Vietnam continues to be in the region of global and regional FDI attraction, which means that Vietnam has many opportunities to attract FDI 3.2.2 Factors belonging to the host country 3.2.2.1 Institutional factors, State management policies of Vietnam on foreign direct investment Economic, political and social stability System of legal policies and policies related to FDI attraction of Vietnam 3.2.2.2 Market factors of Vietnam Size and growth potential of the domestic market Vietnam's economic openness 3.2.2.3 Resource factor of Vietnam Vietnam's human resources Geographical location Natural resources 3.2.2.4 Infrastructure factor of Vietnam About the transport infrastructure system in Vietnam About the energy infrastructure system and information technology services, post and telecommunications Logistic activities Supporting industry 3.3 Assessing the impact of Japanese FDI in Vietnam since the global financial crisis in 2008 until now 3.3.1 Achievements Firstly, Japanese FDI contributes to total social investment capital and contributes to promoting Vietnam's economic growth Second, Japanese FDI increases its contribution to State budget revenue 20 Third, Japanese FDI contributes to the restructuring of Vietnam's economy towards industrialization and modernization Fourth, Japanese FDI projects have significantly contributed to creating new jobs and developing the quality of human resources Fifth, Japanese FDI has helped develop Vietnam's transport infrastructure Sixth, Japanese FDI plays an important role in promoting Vietnam's exports, and expanding Vietnam's international integration 3.3.2 Limitations Firstly, direct investment from Japan into Vietnam has not been as expected Second, the structure of Japan's FDI into industries and fields is not really appropriate Thirdly, in terms of investment forms, currently 100% foreign-owned enterprises account for the majority of Japanese investment projects, joint ventures are still few Fourth, technology transfer from Japanese FDI to Vietnam is still very modest compared to expectations Fifth, Japanese enterprises still have not really fulfilled their responsibility to train managers and engineers for Vietnam 3.3.3 Causes of limitations? Firstly, the system of legal policies and policies related to FDI attraction of Vietnam still has many shortcomings Second, Vietnam has not yet had an appropriate policy and strategy regarding technology transfer in attracting FDI from Japan Third, Vietnam still lacks many skilled workers, high-quality human resources, as well as middle management staff Fourth, Vietnam's infrastructure is not modern and inconsistent Fifth, Vietnam's supporting industry has not really developed Sixth, Vietnam's investment promotion activities are not strong and effective, and have not created an investment promotion network in Japan 21 Chapter SOME SOLUTIONS TO INCREASE TO ATTRACT EFFECTIVELY FOREIGN DIRECT INVESTMENT OF JAPAN TO VIETNAM 4.1 Orientation to attract foreign direct investment of Japan to Vietnam by 2030 4.1.1 Domestic and international context First, the US-China trade war is likely to get more intense Second, the industrial revolution 4.0 Third, the trend of diversification, multilateralization, regional and international integration Fourth, the Covid - 19 pandemic took place on a global scale 4.1.2 Orientation to attract FDI in general as well as Japanese FDI into Vietnam in the coming period (2022 - 2030) The goal of attracting Japanese FDI into Vietnam in the period (20222030) is implemented in accordance with the general goal of FDI attraction stated in the 13th Congress of the Communist Party of Vietnam In addition, it is necessary to focus on attracting Japanese FDI in the fields that the Vietnamese Government prioritizes to attract investment capital from Japan; To encourage Japanese FDI to develop hi-tech agriculture; Retail, logistics, real estate business, are the trend of choice of Japan in the coming period 4.2 Some solutions to enhance the attraction of Japanese foreign direct investment to Vietnam 4.2.1 Completing the system of legal policies and policies related to attracting foreign direct investment of Vietnam Firstly, it is necessary to supplement and perfect the Vietnamese Law system to ensure consistency, transparency and feasibility Second, there should be stronger reforms in tax and customs procedures to create favorable conditions for foreign investors in general 22 as well as Japanese investors in particular in production and business activities in Vietnam Third, perfect Vietnam's FDI policy 4.2.2 Develop an appropriate strategy to promote technology transfer from Japan to Vietnam, especially in the manufacturing sector Firstly, develop a policy on technology transfer from attracting FDI with focus and focus Second, develop a satisfactory strategy for technology transfer in attracting FDI from Japan 4.2.3 Human resource development Firstly, human resource development planning must be based on restructuring economic sectors and especially FDI industry structure to ensure the balance between supply and demand for labor Second, in the society, it is necessary to increase investment in vocational education, especially in industries necessary for FDI Third, it is necessary to grasp the situation and real needs of industries and specific criteria and skills of Japanese FDI enterprises regularly Fourth, in industrial zones and export processing zones, it is necessary to form human resource training centers to serve these zones Fifth, actively attract diverse capital sources for domestic human resource development Sixth, on the relationship between the State - enterprises, the State needs to develop mechanisms and policies to support human resource training for enterprises 4.2.4 Modernize and synchronously develop infrastructure Firstly, it is necessary to develop infrastructure in industrial zones Second, the modernization of infrastructure in general in the economy needs to be carried out synchronously for both hard and soft infrastructure 4.2.5 Supporting industry development 23 Firstly, the Government needs to develop policies to support, encourage and give incentives to enterprises developing supporting industries Second, the State needs to support domestic supporting industry enterprises capable of becoming suppliers to multinational companies Third, in parallel with attracting FDI, the State should pay more attention to attracting FDI and Japanese FDI enterprises to invest in the supporting industry Fourth, the State should have a policy to build industrial zones and industrial clusters (industrial clusters) exclusively for supporting industries Fifth, to develop the Law on Supporting Industry and finalize the legal document on the promotion of the supporting industry Sixth, develop human resources for supporting industries 4.2.6 Strengthen promotion foreign direct investment from Japan Firstly, it is necessary to continue to innovate, perfect and improve the efficiency of investment promotion Second, further strengthen investment promotion activities with Japan in various forms 24 CONCLUDE Theoretically, the thesis has clarified the nature, characteristics, content and some theories of FDI attraction, analyzed the factors that affect the attraction of foreign direct investment, explained the effects of FDI attraction The impact of FDI on investment recipient countries, on that basis, shows that it is not always possible to attract FDI as much as possible In practical terms, the thesis has clarified the reality of Japan's FDI attraction to Vietnam in the period from the 2008 global financial crisis up to now Analyze the factors that influenced the attraction of Japanese FDI to Vietnam during this period The thesis points out the success as well as limitations in attracting Japanese FDI to Vietnam, pointing out the reasons that are the important basis for the author to propose six large groups of solutions to attract more strongly and effectively more effective than Japanese FDI in Vietnam in the period of 2022 - 2030 Regarding the limitations of the thesis, the thesis still has some shortcomings in the research process such as: The research has difficulty in collecting annual statistics related to Japanese FDI in Vietnam, so there is no regulation conditions to analyze and evaluate the efficiency of using Japanese FDI in Vietnam in the period 2008 - 2020; The solutions proposed by the author are only proposed based on logical reasoning and analysis of the current situation, without conditions to verify in reality Regarding the direction of further research, in the coming time, if the author still delves deeply into this topic, the author needs to continue to study a number of issues such as: In addition to attracting Japanese FDI into Vietnam, the management How to manage and use Japanese FDI in Vietnam? Should the incentives for Japanese FDI into Vietnam be implemented right after the project starts, or after the results of Japan's FDI implementation in Vietnam are available? 25 LIST OF RELATED PUBLICATIONS OF THE THESIS AUTHOR Nguyen Thi Ngoc Yen, "Attracting FDI in a sustainable way in Hai Duong Province", Asia Pacific Economic Review, No 461 January 2016, pp.13-15 ISSN 0868 - 3808 Nguyen Thi Ngoc Yen, "The situation of Japanese foreign direct investment in Vietnam since the political tension between Japan and China", Journal of Economics and Forecasting, June 17, 2018, p 2123 ISSN 0866 - 7120 Nguyen Thi Ngoc Yen, "Vietnam strengthens improving business environment to promote Japan's FDI attraction", Journal of Africa and Middle East Studies, No (162) February 2019, p .47-54 ISSN 1859 0591 Tran Xuan Van, Nguyen Van Huong, Nguyen Thi Ngoc Yen, "Creating a breakthrough in attracting new generation foreign direct investment to Vietnam in the period of 2020 - 2030", Economic Research Journal, No 10 (509) October 2020, pp.22-31 ISSN 0866 - 7489 ... affect the process of attracting Japanese FDI to Vietnam after the global financial crisis in 2008? Question Existing problems in attracting Japanese FDI to Vietnam after 2008 up to now? Question... FDI attraction - Analysis of the current situation of attracting Japanese FDI to Vietnam since the 2008 global financial crisis until now - Analysis of factors affecting Japanese FDI in Vietnam... focus from ODA to FDI or not? If Vietnam can attract strong FDI from Japan, then Vietnam's economy can have a breakthrough Because with Vietnam, which is putting industrialization as a top strategy,