FDI and Transfer of Technology to Vietnamese Enterprises
Main Article Content
Abstract
Provides an in-depth examination of the evolution of foreign direct investment (FDI) in Vietnam, tracing its trajectory since the 1980s. Vietnam proactively sought to attract FDI to bridge its capital and technology gaps, yielding tangible benefits such as job creation and the expansion of exports. FDI led to the transformation of outdated economic structures, particularly in state-owned enterprises. The expansion of FDI was driven by Vietnam's diplomacy and free trade agreements, including WTO membership in 2007 and participation in various FTAs. By the end of 2020, Vietnam had attracted US$176.9 billion in FDI, positioning it as an attractive investment destination in Southeast Asia. The chapter highlights how different phases of FDI development have shaped Vietnam's economy, creating job opportunities and bolstering its export-driven industrialization. It underscores the need to further transition to technology- and capital-intensive industries and strengthen supporting industries to ensure sustainable growth.