Foreign direct investment in industrial development in the Northern key economic region in the period 2010 - 2018

DOI: 10.18173/2354-1067.2021-0030

Abstract

The Northern key economic region, which includes Hanoi, Vinh Phuc, Bac Ninh, Quang Ninh, Hai Duong and Hung Yen, is the main centers of Vietnamese politics, economics, culture and science and technology. This region has many advantages in terms of economic exchange and international integration. In the period of 2010 - 2018, the region has really become a reliable destination for domestic and foreign investors, attracting increasing investment capital, especially foreign direct investment (FDI) in the manufacturing industries. Thanks to FDI in industry, the growth rate of gross output is the highest among 4 key economic regions; changing industrial structure (emerging electronics, informatics, manufacture mechanics ...); ownership structure (the FDI sector ranks first with 4 key economic regions) and territorial structure (industrial production value of Bac Ninh province has surpassed that of Hanoi city, leading the whole Northern key economic region). The paper focuses on analyzing FDI in industrial development and its role in socio-economic development of the Northern key economic region in the period of 2010-2018.