phía chính phủ đối với khu vực tư nhân, cũng như những tiến bộ rong cải cách ngành ngân hàng và doanh nghiệp nhà nước, như chính phủ đã nêu trong cam kết năm 2002 của
mình. Với rất nhiều nhà đầu tưđang có ý định rót vốn vào Việt nam, đất nước này không còn nhiều thời gian để thực hiện những cải cách cần thiết.
1. As the global economy becomes more open to international business, countries increasingly have to compete for foreign investors. In response to this situation, most countries are liberalizing their FDI framework. The following three elements are crucial to successfully attracting FDI:
2. Formulating a vision of technological upgrading, and targeting FDI to this aim. Host
countries should formulate strategic goals and try to identify windows of opportunity relating to foreign investment. Policies to attract FDI should not only be professional and aggressive but also selective and embedded in a comprehensive national development strategy. As a first step it is necessary to create a consensus among national entrepreneurs, trade unions, policy-makers and civil society in general about the necessity of technological upgrading. Second, strategic goals should be set forth. Third, efforts should be made to identify which foreign investors and activities are suitable – and at the same time realistic – for achieving these strategic goals. This requires continuous monitoring of changes in the market and of their specific strengths and weaknesses in order to timely and precisely identify windows of opportunity. Fourth, based on this assessment, promotion should be intensified in order to attract the targeted investors. 3. Creating and promoting a positive image of the location. Countries are undertaking
pro-active approaches to sell their image abroad. Investment promotion is usually done by public agencies or private non-profit organizations. These institutions should nevertheless be organized in a businesslike manner and develop an attitude oriented towards the private sector. Often it is helpful to advertise success stories of pioneering investors because would-be investors tend to observe the performance of these pioneers before making their own investment decisions, which is an efficient way to minimize risks.
4. Improving advanced and specialized factors in accordance with technological goals.
Most developing countries strive to attract foreign direct investment by their low costs (especially for labor and natural resources), subsidies (which may take the form of grants, tax holidays, or subsidized land). In fact, these are basic and generalized factors, which are usually not enough to sustain long-term competitiveness. Subsidies draw off resources from other activities and may lead to a subsidy race among competing locations while they do not help to improve the underlying factors of competitiveness. In order to achieve the envisaged goal, advanced and specialized factors need to be developed. These include a knowledge workforce, R&D activities, specific infrastructure in fields such as information technology.
Unit 21. Task 1.