Foreign direct investment towards sustainable development in the Northern key economic region

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HO CHI MINH NATIONAL ACADEMY OF POLITICS TRAN THI TUYET LAN FOREIGN DIRECT INVESTMENT TOWARDS SUSTAINABLE DEVELOPMENT IN THE NORTHERN KEY ECONOMIC REGION Major: Development economics Code: 62 31 05 01 SUMMARY OF PhD THESIS IN ECONOMICS HANOI - 2014 The thesis was finished at the Ho Chi Minh National Academy of Politics Academic Supervisors: 1. Assoc. Prof. Dr. Pham Thi Khanh 2. Dr. Nguyen Tu Judge 1: .......................................................... .......................................................... Judge 2: .......................................................... .......................................................... Judge 3: .......................................................... .......................................................... The thesis will be defended in front of a panel of examining judges at the Ho Chi Minh National Academy of Politics At…,……., 2014 The thesis can be found for study at the National Library and the Library of Ho Chi Minh National Academy of Politics 1 INTRODUCTION 1. The necessity of the research The Northern key economic region (NKER) is one of national key economic regions. It is constructed and developed with the aim of maximizing the comparative advantages of the region, creating economic zones that have motivation nature, pervasive influence and capacity to help other regions to develop. With its own advantages, in the past few years, NKER has been one of the two national key economic regions that take the lead in attracting FDI in term of the number of project and size of investment. FDI business sector in NKER has positive contribution to the region’s economic-social growth and development. However, the result of FDI attracting and the operation of the FDI business sector in NKER have shown negative effects which badly influence the region’s sustainable development on 3 aspects: economy, society and environmental protection… The phenomenon like transfer pricing and tax evasion occurring in FDI businesses and causing tax losses to the Government are quite popular and tend to keep increasing. The phenomena like the fact that labor’s material and spiritual life hasn’t received satisfactory attention; FDI businesses’ awareness of complying with the Law on Environment Protection is not good enough, seen as the neglect of environmental development and the violation of Law on Environment Protection, have done a big deal to the ecological environment and health of the population in the area. Those negative effects are current enormous challenges to the sustainable development of NKER. With the above practical issues, further clarifications on FDI rationale towards sustainable development; assessing FDI reality towards sustainable development in NKER and seeking for solutions for FDI attracting and FDI businesses’ management in order to preserve sustainable development of NKER on the three aspects: economy, society and environment, are urgent requirements. With the aim of meeting the requirements, the subject “Foreign direct investment towards sustainable development in the Nothern key economic region” was chosen for the research. 2. Purposes and tasks of the research - Research purposes: The thesis recommends main orientations and solutions in order to promote foreign direct investment towards sustainable development in NKER in the future. 2 - Research tasks: (i) Systematizing and clarifying the rationale of foreign direct investment towards sustainable development of NKER; (ii) Learning the experiences of some Asian Countries about foreign direct investment towards sustainable development of the key economic regions; (iii) Analyzing and assessing FDI reality towards sustainable development in NKER, which includes achievements, limitations and causes of limitations, weaknesses; (iv) Suggesting main orientations and solutions with the aim of promoting FDI towards sustainable development in NKER in the future. 3. Subject and scope of the research - Research subject: The research subject of the thesis is foreign direct investment towards sustainable development in NKER. - Research scope: + In term of content: Foreign direct investment is related to two other subjects: foreign investor and host country. The purpose of foreign investors is to gain profit while, to the host country, it is economic-social benefits that FDI provides. For that reason, in the perspective of the host countries, foreign direct investment towards sustainable development is how the host countries take benefits from FDI while maintaining sustainable development of their countries, regions or localities. By that meaning, within the research scope of the thesis, it will studies the impact of foreign direct investment on sustainable development of NKER on three aspects: economy, society, and environment. There in, (i) the researched investment concept mentioned in the thesis is understood as the investment activities, investment to gain profits; (ii) the thesis doesn’t include researches on sustainable development within the area of FDI businesses, but researches on the impacts of FDI on the host countries, NKER particularly; (iii) the role of the Government in managing FDI towards sustainable development is only considered in moderation within influential factors, causes of limitations of FDI towards sustainable development; (iv) sustainable development are defined as targets of FDI managers, not included in the dissertation research; (v) subjects that take part in deciding the orientations of foreign direct investment towards sustainable development in NKER include the Central Government, local authorities, FDI businesses and social organizations. + In term of space: The thesis studies FDI towards sustainable development in NKER, on the area of seven provinces and cities under the 3 Central Government, such as Hanoi, Hai Phong, Hai Duong, Hung Yen, Quang Ninh, Bac Ninh and Vinh Phuc. + In term of research time: The thesis studies foreign direct investment towards sustainable development in NKER from 2003 to 2011. 4. Research methods and data sources - Research methods: The thesis uses research methods for economic science, especially focuses on the following methods: methods for systemizing, methods for analyzing and summarizing, statistical and comparative methods; inductive and deductive methods; expert methods . - Data sources: Data sources used in the thesis is mainly secondary ones including: (i) Statistics of the General Statistic Office and Statistics Bureaus of provinces, cities in NKER; (ii) Reported data of Ministries: Ministry of Planning and Investment, Ministry of Labor - Invalids and Social Affairs, Ministry of Natural Resources and Environment, and Departments of provinces and cities; (iii) Surveyed data of relevant research institutes and research results published in Seminars, articles published in specialized journals. 5. New contributions of the thesis - On theoretical aspects: (i) Develop concepts, characteristics and specify requirements for FDI towards sustainable development of key economic regions; (ii) Bring out elements influencing FDI towards sustainable development of key economic regions; (iii) Specify the content and criteria of FDI towards sustainable development of key economic regions on three aspects: economy, society, and environment. - On practical aspects: (i) Clarify the reality of FDI towards sustainable development in NKER, its limitations and causes; (ii) Suggest main orientations and solutions for promoting FDI towards sustainable development of NKER in the future. 6. Structure of the thesis A part from the introduction, conclusion, list of reference and appendix, the content of thesis are presented in 4 chapters and 10 sections. 4 Chapter 1 OVERVIEW ON RESEARCH STATUS RELATED TO FOREIGN DIRECT INVESTMENT TOWARDS SUSTAINABLE DEVELOPMENT IN NORTHERN KEY ECONOMIC REGION 1.1. Research status of foreign direct investment towards sustainable development of foreign authors The research works of foreign authors are reviewed towards: researches on how FDI affects the economic growth; the ability to accumulate capital for the economy; scientific and technological developments; impacts on international trade; impacts on labor, employments and human resources. Most of the researches support the idea that FDI has good effects on the mentioned issues. There are also researches showing that FDI only performs positive effects on economic growth, social and environmental developments with specific conditions about infrastructure, the quality of human resources, political stability, and the perfection of market institutions. 1.2. Research status of foreign direct investment towards sustainable development for key economic regions of domestic authors 1.2.1. Research status of the impacts of FDI on economic growth and development It can be confirmed that researches on FDI in Vietnam are various and diversified. In most of the researches, when studying on the relationship between FDI and economic developments, many domestic scholars stated that FDI had positive effects on economic growth, such as: the fact FDI not only makes up for the lack of investment, but also has important meanings in innovating technologies, enhancing the level of management, promoting marketing activities, increasing the export manufacture ability of the host countries… Besides, there are also negative effects, downsides, adverse effects of FDI on economic developments, especially negative effects of FDI on the environment, which is mentioned in many researches. 1.2.2. Research status of foreign direct investment towards sustainable development and sustainable developments of NKER - The group of researches related to sustainable development of NKER Nowadays, in Vietnam, there have been researches related to sustainable development of key economic regions in general and sustainable development of NKER in particular. The content of researches on sustainable development of key economic regions is also pretty plentiful theoretically and practically. 5 On theoretical aspects: there are some researches referring to the concepts of sustainable development of key economic regions, criteria of sustainable development of key economic regions, the experience on sustainable development of key economic regions, and lessons for Vietnam in sustainable development of key economic regions. On practical aspects: there are also analyses and assessments of policies for sustainable development of key economic regions; discoveries and analyses of downsides, unsustainable aspects of sustainable development of Vietnamese key economic regions; indicating causes and suggesting solutions that are relatively comprehensive for sustainable development of key economic regions. - The group of researches related to foreign direct investment towards sustainable development This is the group of researches that are directly relevant to FDI and studied on the FDI in the most comprehensive way about sustainable development. Most of the researches assessing positive and negative effects of FDI on the economy are analyzed on the three aspects, the three backbones of sustainable development which are economic development, social development and environmental protection. 1.2.3. General assessment of published works about FDI towards sustainable development and theory and practical deficiency needing further researches 1.2.3.1. General assessment of published works about FDI towards sustainable development First, researches all focus on clarifying and asserting the fact that FDI has effect on economic growth and economic-social developments. Second, most of the researches stay at assessing effects of FDI on specific aspects of sustainable development. So far, there has been rarely work that provides comprehensive, profound and methodical researches on foreign direct investment towards sustainable development on the three aspects: economy, society and environment. 1.2.3.2. The dissertation’s theoretical and practical deficiencies that need further researches - On theoretical aspects: So far, there has been rarely work that provides profound researches and systematic explanation about foreign direct investment towards sustainable development of key economic regions. - On practical aspects: Although there are work, articles providing researches on effects of FDI on sustainable development, most published scientific works are focused on analyzing, assessing FDI’s effects in general 6 and FDI’s effects on the target of sustainable development in particular in large scale – national level. There are rarely works examining the effects of FDI on sustainable development of a specific economic area, especially NKER. 7 Chapter 2 THEORETICAL FOUNDATION AND REAL SITUATIONS OF FOREIGN DIRECT INVESTMENT TOWARDS THE SUSTAINABLE DEVELOPMENT IN THE KEY ECONOMIC REGION 2.1. Concept, characteristics and requirements for foreign direct investment towards the sustainable development in key economic regions 2.1.1. The concept of foreign direct investment and foreign direct investment towards the sustainable development in key economic regions 2.1.1.1. The concept of foreign direct investment Foreign direct investment is the act of foreign investors to put their loan or any property into another country so that they can have the right to possess and control on an entity long operating in that country for the target of profits. 2.1.1.2. The concept of foreign direct investment towards the sustainable development in key economic regions The dissertation author gives the concept of foreign direct investment towards the sustainable development in key economic regions as below, “Foreign direct investment towards sustainable development in key economic region is investment activity of foreign organizations and individuals in key economic region of another country, which meets planning and developing requirements of that region; makes positive impact on the development of the region to ensure harmonious and rational combination among economic development, social development and environmental protection not only for the key region, but also spillovers to other regions both in the present and in the future”. 2.1.2. Characteristics of foreign direct investment towards the sustainable development in key economic regions Firstly, foreign direct investment towards the sustainable development in key economic regions has subjective features of invested country, in general, and invested key economic regions, in particular; Secondly, foreign direct investment towards the sustainable development in key economic regions includes the targets of exploiting and utilizing resources effectively; Thirdly, foreign direct investment towards the sustainable development in key economic regions always aims at the harmonious and balanced development among economic development, social development, and environmental protection; Fourthly, foreign direct investment towards the sustainable development in key economic regions always appreciate the quality over the quantity of FDI; Fifthly, foreign direct investment towards the sustainable 8 development in key economic regions not only end up considering and evaluating the process of foreign direct investment at the outset, that is the stage of getting licensed , but also review business and production activities of FDI enterprises; Sixthly, foreign direct investment towards the sustainable development in key economic regions have mutual interaction and support between foreign investors and the key economic regions. 2.1.3. Requirements for foreign direct investment towards the sustainable development in key economic regions Firstly, foreign direct investment towards the sustainable development in key economic regions must be based on the three main development backbone, which are the sustainable development of economy, society, and environment; Secondly, foreign direct investment towards the sustainable development in key economic regions has to produce pervasive effects to other economic areas; Thirdly, foreign direct investment towards the sustainable development in key economic regions must develop potentials and advantages of the key economic regions themselves and be appropriate particularly to the developmental orientation of each key economic region and generally to the entire economy; Fourthly, foreign direct investment towards the sustainable development in key economic regions must guarantee the harmony of benefits for both overseas investors and the key economic regions; Fifthly, foreign direct investment towards the sustainable development in key economic regions cannot be an independent activity, but need the orientation and guidance from the State, the awareness to comply with laws from FDI enterprises, and the active participation from communities of residents and social organizations; Sixthly, foreign direct investment towards the sustainable development in key economic regions must be coupled with the target of sustainable development of the whole country and with the common movement of the modern world. 2.2. Content, evaluation standards, and main factors affecting foreign direct investment towards the sustainable development in key economic regions 2.2.1. Content and evaluation standards of foreign direct investment towards the sustainable development in key economic regions 2.2.1.1. Content and evaluation standards of foreign direct investment towards the sustainable development in key economic regions about economy - Foreign direct investment positively contributes to foster the economic growth of the key economic regions: including evaluation standards: the 9 growth speed of FDI areas in comparison with the growth speed of the key economic regions; the contribution rate of FDI areas in the economic growth of the key economic regions. - Foreign direct investment helps to promote the economic restructure of key economic regions towards modern movement: be evaluated by standards like the density of industrial production value of FDI areas compared with the total industrial production value of key economic regions; the density of production value of FDI areas in comparison with the production value of the whole region. - Foreign direct investment makes contribution to raise export turnover of key economic regions: including evaluation standards such as the rising speed of FDI areas’ export turnover; the density of export turnover of FDI areas compared with the export turnover of the entire key economic regions. - Foreign direct investment contribute to enrich the budget of key economic regions: including the following standards: the rising rate of FDI areas’ annual budget; the rate of budget incomings from FDI areas compared with the total budget incomings of key economic regions. - FDI’s contribution to the total amount of socially investing capital of key economic regions is shown in standards as the following: the contribution rate of FDI areas into the total socially investing capital in key economic regions; the increasing rate of annual investment capital of FDI areas. 2.2.1.2. Content and evaluation standards of foreign direct investment towards the sustainable development in key economic regions in terms of society - Foreign direct investment helps produce employment and speed up the transfer of labor structure in key economic regions towards advancement: The following standards can be used to evaluate this content: The number of laborers created annually in FDI areas; the raising speed of workers working in FDI areas every year; The laborers working in FDI areas to the total number of workers having jobs in key economic regions ratio; The quantity and rate of employing local labor compared with the total number of laborers of FDI areas; The industrial labor in FDI areas to the total labor working in key economic regions ratio; - Foreign direct investment continuously improves the quality of labor source having jobs in FDI businesses in key economic regions. It can be evaluated by the following standards: The average income/month/laborer 10 (including basic salary and other incomes) of workers; The labor rate, especially immigrant workers working in FDI companies with housing and facilities as well as equipment for daily activities of laborers; The number of cultural and spirit activities yearly organized by FDI enterprises; The number of places for entertainment, culture, and sport for workers in FDI enterprises; The amount of time for rest of laborers in a day; The amount of extra working time of workers; The rate of labor equipped with means of labor protection; The trained workers to the total number of laborers working in FDI areas ratio. - Foreign direct investment makes contribution to hunger eradication and poverty reduction and guarantees social welfare for residents in key economic regions: Foreign direct investment helps to foster economic growth and contribute to the budget of key economic regions, thereby indirectly affecting the tasks of hunger eradication and poverty reduction and ensuring social welfare for inhabitants of key economic regions. 2.2.1.3. Content and evaluation standards of foreign direct investment towards the sustainable development in key economic regions as to environment - Foreign direct investment must be coupled with the rational exploitation and economical and effective utilization of natural resources in key economic regions. Standards used to measure this content are: The export value of raw materials to the total export value of FDI areas ratio; the rate of consuming natural resources/a unit of products and services. - Foreign direct investment must comply with and strictly follow laws of environmental protection of the invested country, in general, and of key economic regions, in particular. In order to assess the implementation of laws on environmental protection of FDI businesses, the following standards should be based on: The quantity and rate of FDI enterprises making Reports on the evaluation of environmental effects and Commitment for environmental protection; The number and rate of FDI companies having waste processing system/the total number of FDI enterprises; The quantity and rate of FDI businesses violating laws on environmental protection. - Foreign direct investment in key economic regions must be attached with the use of high technology, modern technology, and friendly technology to environment: this can be evaluated by standards: The scale of capital investment/labor; The rate of fixed property equipped (fixed property)/labor; 11 The technological level of FDI projects (high, medium, and low technology); The rate of FDI projects from developed countries. - Foreign direct investment in key economic regions must be combined with the building of methods for environmental protection and prepared for the precaution, prevention, settlement, and control of environmental pollution; at the same time the protection, nourishment, and improvement the environmental quality in key economic regions. The standards for this evaluation include: The cost invested for researching and developing technology for environmental protection; The cost put into the tasks of protecting environment of FDI businesses; The spending invested for the tasks of environmental protection to the total investment capital of FDI enterprises ratio. - Foreign direct investment must offer good effects to private businesses on the issue of environmental protection, contributing to impact the work of environmental management of the invested country, in general, and key economic regions, in particular: seriously carrying out criteria for environment of FDI companies also has positive influence on environmental results from trading partners supplying inputs and satellite companies through giving support and consultancy on environmental managing systems or environmental handling measures that FDI enterprises have done. Through FDI joint venture partners, inland companies can learn and get help as well as advice to make environment improved. 2.2.2. Main factor affecting foreign direct investment towards the sustainable development in key economic regions Firstly, group of factors from the invested country includes: (i) The improvement of legal system and policies related to FDI towards the sustainable development in key economic regions; (ii) Strategies to attract FDI towards the sustainable development in key economic regions; (iii) The quality of planning tasks and projects to draw FDI towards the sustainable development in key economic regions; (iv) The capability to examine and monitor FDI activities towards the sustainable development in key economic regions; (v) The connection and coordination in operation amongst Ministries, departments, and localities as well as between local areas in key economic regions; (vi) The quality of human resources to meet the demand for foreign direct investment towards the sustainable development in key economic regions; (vii) The synchronous and modern development of technical infrastructure system satisfying requirements for foreign direct 12 investment towards the sustainable development in key economic regions; (viii) The maturity and development of supplementary industry system and services assisting business activities in key economic regions; Secondly, group of factors from foreign investors includes: (i) Business strategies and the orientation of the investing market; (ii) financial potentials; (iii) FDI projects’ level of technology; (iv) The awareness to comply with laws from overseas investors. 2.3. Experience from some Asian countries in foreign direct investment towards the sustainable development in key economic regions and lessons for the Northern key economic region 2.3.1. Experience from some Asian countries in foreign direct investment towards the sustainable development in key economic regions International experience in foreign direct investment is summarized from successful experience from some Asian countries in drawing and managing foreign direct investment, which is: Experience in attracting FDI and promoting area development as well as intensifying the level division to manage the capital source for investment from Indonesia; Experience in improving investment environment, constructing infrastructure, creating human resources of high quality, and developing supplementary industry from Thailand; and experience in perfecting legal system and policies, focusing on infrastructure renovation and technology transference, and paying more attention on the selection of FDI projects from China. 2.3.2. Lessons gained from experience in foreign direct investment towards the sustainable development for the Northern key economic region By summarizing experience from some Asian countries in foreign direct investment mentioned above, the dissertation author gains some lessons from the experience as a reference for Vietnam, in general, and the Northern key economic region, in particular in the FDI orientation towards environmental protection. These lessons are: (i) Renovating and improving legal system as well as opportunely adjusting investment policies to be suitable to targets and direction of the country in each stage; (ii) Getting planning tasks and projects for FDI attraction of the key economic region done well coupled with general strategies for social-economic development of the country to meet the need for sustainable development; (iii) Actively and positively raising the effectiveness in dividing levels to manage foreign direct investment activities; (iv) Strengthening the work of verifying and supervising activities of foreign direct investment to ensure the sustainable development of the key economic region; (vi) Actively and positively developing supplementary industry to meet the 13 demand for sustainable development in the key economic region; (vii) Expanding synchronous, modern, and high qualitative infrastructure in the key economic region. 14 Chapter 3 THE REAL SITUATION OF FOREIGN DIRECT INVESTMENT TOWARDS THE SUSTAINABLE DEVELOPMENT IN THE NORTHERN KEY ECONOMIC REGION 3.1. Potentials, advantages, difficulties, and challenges to foreign direct investment towards the sustainable development in the Northern key economic region 3.1.1. The generalization of formation and development process of the Northern key economic region The Northern key economic region was formed according to Decision No. 1018/1997/QĐ-TTg covering 5 Provinces and Cities of Ha Noi, Hai Phong, Quang Ninh, Hai Duong, and Hung Yen, located in the domains of Hong River Delta and the Northeastern mountainous areas. On August 13 th 2004, the Prime Minister released the Decision N o. 145/2004/ QĐ-TTg on the main direction to develop society and economy in the Northern key economic region till 2010 and with the vision till 2020. On the Decision, the scale of the Northern key economic region was expanded to include another 3 provinces, which were Ha Tay, Vinh Phuc, and Bac Ninh. Since August 1st 2008 after the Resolution made by Congress at the third meeting of the Tenth Congress on extending the administrative border of Ha Noi City, covering all Ha Tay Province, Me Linh Ward (Vinh Phuc), and 4 Communes of Luong Son Province (Hoa Binh), the Northern key economic region has included 7 provinces and cities: Ha Noi, Hai Phong, Quang Ninh, Hai Duong, Hung Yen, Bac Ninh, and Vinh Phuc (Ha Tay was merged to become part of Ha Noi Capital). 3.1.2. Potentials, advantages, difficulties, and challenges to foreign direct investment towards the sustainable development in the Northern key economic region 3.1.2.1. Potentials and advantages to foreign direct investment towards the sustainable development in the Northern key economic region The Northern key economic region has a lot of potentials and advantages in attracting FDI towards the sustainable development. This is the region with favorable geological sites, plentiful and diverse natural conditions, quite synchronous infrastructure, and development levels which are much higher than those of other regions in the whole country combined with great capability of training and expanding human resources. Among 15 these things, human resources of high level is viewed as the noticeable and competitive advantage to draw FDI in comparison with other key economic regions in the entire country. 3.1.2.2. Difficulties and challenges to foreign direct investment towards the sustainable development in the Northern key economic region Beside potentials and advantages, the Northern key economic region is also facing a lot of difficulties and challenges to attract FDI towards the sustainable development in the region. Particularly, the system of mechanism and policies has not completely and specifically reflected on properties and individual characteristics of the Northern key economic region yet; the connection and coordination in the region remain poorly effective; the labor quality after training is still at a low level, incompatible with potentials and advantages of the region about the number of labor sources; high population density, along with low average agricultural land per capita, makes it hard to change the purpose of using agricultural land; and environmental pollution, especially the pollution of water source because of industrial waste materials and the process of urbanization is higher and higher and hits alarming degree. These are huge challenges to the Northern key economic region between continuing promoting the speed of economic growth coupled with expanding the scale to develop industry and reaching the target of sustainable development on environment. 3.2. The real situation of foreign direct investment towards the sustainable development in the Northern key economic region 3.2.1. The generalization of the reality of foreign direct investment attraction in the Northern key economic region 3.2.1.1. About the number, registered capital, and scale of FDI projects - About the number of FDI projects: gathered from January 1st 2003 to July 20th 2012, the Northern key economic region had 3,239 FDI projects remaining effective. If compared with other key economic regions, in the period 2003-7/2012, the Northern key economic region attracted 8.8 times FDI projects higher than that of the Central key economic region (364 projects) but one third less than that of the Southern key economic region (6,245 projects). - About registered FDI capital and implemented FDI capital: during 2003-2011, the Northern key economic region drew $34,620 million of FDI capital. The total implemented FDI capital put into the region was $11,5 16 million in the period from 2003 to 2011, reaching 33.3% compared with registered FDI capital at the same period, an annual average of $1,3 million/year. - About the scale of FDI projects: The scale of FDI projects in the Northern key economic region from 2003 to July 2012 is mainly small and medium with an average rate of $11 million/project (correspondingly $12 million/project in the South and $29 million/project in the Central) 3.2.1.2. About the structure of foreign direct investment - About FDI structure classified into industries and fields From 2003 to 7/2012, FDI structure classified into industry in the Northern key economic region was focused chiefly on the field of industry and construction, making up to 58.22% the total number of projects and 62.14% the total registered capital in the area. The field of service attracted 1,332 FDI projects, taking 41.12% the total number of projects and 37.57% the total registered capital. The combination field of agriculture, forestry, and fishery account for just 0.64% the total number of projects and 0.28% the total registered capital. - About FDI structure classified into forms of investment From 2003 to 7/2012, FDI in the Northern key economic region was primarily performed by the form of 100% foreign investment with 2,537 projects, accounting for 78.33% the total number of projects and 64.63% the total registered capital. There were 573 joint venture projects, making up 17.69% the total number of projects and 18.89% the total registered capital. The remainders were of other forms like Business cooperation contracts (2 projects), BOT, BT, and BTO Contracts (48 projects), Joint stock Company (78 projects), and subsidiary-parent Company (01 project). - About FDI structure divided into investing partners There were 62 countries and dominical regions having FDI projects in the Northern key economic region during 2003-7/2012. Among these countries, Asian countries had 2,584 projects, taking 79.77% the total number of projects and 69.12% the total registered capital. Of 12 nations and regions having over $1 million of total registered capital, 2 countries representing for European were the Netherlands (ranked 5th) and Luxembourg (ranked 9th); and the United States (ranked 8th about the total registered capital) represented for countries from Americas. - About FDI structure divided into invested areas 17 Foreign direct investment in the Northern key economic region was concentrated mainly on Ha Noi with 1,991 projects, accounting for 61.46% the total number of projects and 41.89% the total registered capital. Projects were least invested in Quang Ninh, which had a humble number of 96 projects, making up 0.29% the total numbers of projects and 11.43% the total registered capital. 3.2.2. The reality of foreign direct investment towards the sustainable development in the Northern key economic region from 2003 to 2011 3.2.2.1. The real situation of foreign direct investment towards the sustainable development in the Northern key economic region - FDI area’s contribution to the economic growth of the Northern key economic region: The contribution rate of this area to the economic growth of the Northern key economic region in the period 2006-2011 rose continuously over years and was comparatively stable. To be totally counted in the period, GDP of FDI area averaged 17.38% compared with the GDP of the region. - FDI area’s contribution to the total socially investing capital of the Northern key economic region: The capital of FDI area contributed to the total socially investing capital of the Northern key economic region tends to rise over years and makes up a significant rate in the total investing capital of the region for society. During the period 2003-2010, FDI capital kept certain at an average contribution of about 12% in comparison with the total socially investing capital of the region. The results show that the contribution rate of inland capital area to total socially investing capital in the Northern key economic region was quite high, accounting for 86.83%. - FDI area’s contribution to local budget in the Northern key economic region: FDI area has greatly contributed to local budget of the Northern key economic region in that last years. To be totally counted during 2003-2010, the payment rate for budget of FDI area compared with the total budget of the area was 15.4%/year. - FDI area’s contribution to export of the Northern key economic region: Foreign direct investment in the Northern key economic region has good effect on export activity of the area. Generally from 2003 to 2011, the export value rate/FDI implemented capital always rose in almost all provinces and cities in the region. - FDI area’s contribution to the economic restructuring of the Northern key economic region 18 + During the last years, FDI area has made considerable contribution to the process of restructuring economic industries in the Northern key economic region towards raising the density of production value in industrial field. The density of industrial production value of FDI area was increasing and made up 40.62% compared with the value of industrial production in the Northern key economic region in 2006. One after another, the figure was 42.69% (2007); 44.24% (2008); 43.36% (2009); 49.11% (2010); and 57.38% (2011). Compared with the general production value of the Northern key economic region, the value of industrial production of FDI area took 23.9% (2003); 28.08% (2008); and the record rate of 40.18% (2011). + FDI contributes to transfer the component structure in the Northern key economic region: The structure of industrial production value in the Northern key economic region during the period 2006-2011 had moved towards the direction of raising the density of industrial production value of FDI area. FDI area’s industrial production value always held a higher density than that of State-run businesses and private companies in the region. 3.2.2.2. The real situation of foreign direct investment towards the sustainable development of society in the Northern key economic region - About the capability to produce employment and make contribution to foster the transference of labor structure in the Northern key economic region towards the direction of industrialization + The capability to create employment in FDI area: FDI area of the Northern key economic region has continuously produced jobs for workers over years. In the period of 2003-2010, FDI area of the Northern key economic region has 2,047,044 laborers having jobs, with an average of 255,880 workers/year. The rising rate of labor working in FDI area averaged 24%/year during this region. + The contribution of FDI area in promoting the transference of labor structure: Of total laborers currently working in FDI area, industrial employment rapidly rises and makes up the highest density. If the number of workers having jobs in industrial field in FDI area of the Northern key economic region was 78,222 in 2003, taking 77,26% the total number of laborers in FDI area in 2003, the number of industrial working laborers in 2006 was 185,623, making up 89.92%, and 354,138 in 2010 with 79.86% correspondingly. - About raising the quality of labor source in FDI enterprises in the Northern key economic region
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