Determinants of investorss satisfaction the case of FDI investors in long an province

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MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY LE QUOC THINH DETERMINANTS OF INVESTORS’ SATISFACTION THE CASE OF FDI INVESTORS IN LONG AN PROVINCE MASTER OF BUSINESS ADMINISTRATION THESIS HO CHI MINH CITY- 2012 MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY LE QUOC THINH DETERMINANTS OF INVESTORS’ SATISFACTION THE CASE OF FDI INVESTORS IN LONG AN PROVINCE Major: Business Administration Major code: 60.34.05 MASTER OF BUSINESS ADMINISTRATION THESIS SUPERVISOR: DR DINH CONG KHAI HO CHI MINH CITY- 2012 ACKNOWLEDGEMENT First, I would like to express my gratitude and deepest appreciation to my research supervisor, Dr Dinh Cong Khai for his intensive support, valuable suggestions, guidance and encouragement during the course of my dissertation Then, it is my very much gratitude to Mr Nguyen Van Hoa – Long An Planning and Investment Service for all the useful information and documents as well as the recommendations he did kindly offered Also, this research could not be done without the enthusiastic participation of FDI enterprises in Long An who provided me with valuable feedbacks and questionnaire answers I especially express and thankfulness to the following companies: Formosa Taffeta, Bourbon Ben Luc, Vietnam Australia, Greenfeed, and Golden Bells who helpfully joined my interviews My sincere thanks are also to all of my classmates, my friends, and especially Mr Dang Huu Phuc for his support and guidance Finally, I dedicate this study to my beloved family, my wife, and my little Papaya who have encouraged and supported me during the time Ho Chi Minh City, November 22, 2011 Le Quoc Thinh i Abstract Foreign Direct Investment (FDI) is playing important roles in today‟s global integrated economy, especially for developing countries This study examines determinants of FDI Investors‟ satisfaction in the context of Long An province in order to examine FDI theories in a certain circumstance as well as find out practical reference for Long An province in their FDI attraction policy The research combines three phases: literature review, face to face interviews, and questionnaire surveys to 142 FDI enterprises doing business in Long An Results of the research show that market, labor, infrastructure, and investment policies are significant factors determining foreign investors‟ decision in Long An Besides, investors who possess different characteristics also have different viewpoints towards the above mentioned determinants Finally, the study poses out some recommendations for both Long An government for their policy establishment and FDI scholars for further researches on this topic Keywords: Foreign Direct Investment, Investors’ satisfaction, Determinants of FDI, Long An province, Dunning Eclectic Paradigm ii Table of Contents Acknowledgement i Abstract ii Table of Contents iii List of Tables v List of Charts and Models vi CHAPTER 1: INTRODUCTION 1.1 Theoretical background 1.2 Overview of FDI in Vietnam and Long An province 1.2.1 FDI in Vietnam 1.2.2 FDI in Long An 1.3 Problem Statement and Research Objectives 1.4 Research Method and Structure CHAPTER 2: LITERATURE REVIEW 10 2.1 Review of Determinant of FDI Studies 10 2.2 Dunning‟s Eclectic Paradigm and Determinants of FDI 15 2.3 Determinants of FDI in Developing Countries 18 2.4 Investors‟ satisfaction 23 CHAPTER 3: METHODOLOGY 24 3.1 Qualitative Research 24 3.1.1 Research Design 24 3.1 Research Results 25 3.2 Quantitative Research 27 3.2.1 Population and Sampling 27 iii 3.2.2 Data Collection Process 28 3.2.3 Measurement 29 3.2.4 Pilot Test 32 CHAPTER 4: RESEARCH RESULTS AND FINDINGS DISCUSSION 34 4.1 Research Results 34 4.1.1 Descriptive Statistic of Sample 34 4.1.2 Exploratory Factor Analysis (EFA) 35 4.1.3 Reliability of the questionnaire 39 4.1.4 Research Model 40 4.1.5 Research Hypothesis 42 4.1.6 Regression of Analysis – Determinants of FDI 42 4.1.7 Normal Distribution Test 45 4.1.8 Determinants of FDI Investors‟ satisfaction and Enterprises‟ Character 47 4.2 Findings Discussion 52 CHAPTER 5: CONCLUSIONS AND IMPLICATIONS 56 5.1 Conclusion 56 5.2 Implications 57 5.2.1 Implications for Policy Maker in Long An province 57 5.2.2 Implications for Further Research 59 REFERENCES 61 APPENDIX 68 iv List of Tables Table 3.1 Scale for economic condition factors 30 Table 3.2 Scale for government policy factors 31 Table 3.3 Scale for Investors‟ satisfaction factors 32 Table 4.1 Sample distribution based on FDI enterprises‟ nationality 34 Table 4.2 Sample distribution based on FDI enterprises‟ target market 35 Table 4.3 KMO and Bartlett‟s Test 36 Table 4.4 Total Variance Explained for Economic condition and Government policy variables 36 Table 4.5 Rotated Component Matrix for Economic Condition and Government Policy Variables 37 Table 4.6 Total Variance Explained for Investors‟ satisfaction variables 38 Table 4.7 Component Matrix for Investors‟ satisfaction variables 38 Table 4.8 Consolidation of Reliability Analysis – Scale (Alpha) 39 Table 4.9 Symbols and coding value of research variables 41 Table 4.10 Average of Determinants of FDI 42 Table 4.11 Model Summary 43 Table 4.12 ANOVA(b) 43 Table 4.13 Coefficients(a) 44 Table 4.14 One way ANOVA for nationality character 48 Table 4.15 Post Hoc Tests - Multiple Comparisons for nationality character 49 Table 4.16 Descriptive for nationality character 50 Table 4.17 One way ANOVA for target market character 50 Table 4.18 Post Hoc Tests - Multiple Comparisons for target market character 51 Table 4.19 Descriptive for target market character 51 v List of Charts and Models Chart 1.1 Comparison of GDP growth rate between Vietnam and the world Model 4.1 Research model 40 Model 4.2 Summary of research process and results 45 Chart 4.1 Regression Standardized Residual 46 Chart 4.2 Normal P-P Plot of Regression Standardized Residual 46 Chart 4.3 Regression Standardized Predicted Value 47 vi Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province CHAPTER INTRODUCTION 1.1 Theoretical background World Trade Organization (WTO) defines Foreign Direct Investment (FDI) as an international business activity occurs when an investor based in one country (the home country) acquires a business in another country (the host country) with the intention to manage that business The management dimension is what distinguishes FDI from portfolio investment in foreign stocks, bonds and other financial instruments In most instances, both the investor and the business it manages abroad are business firms In such cases, the investor is typically referred to as the “parent firm” and the business as the “affiliate” or “subsidiary” (WTO, 2011a) From another perspective, Cavusgil (2008) considered FDI as an internationalization strategy in which the firm establishes a physical presence abroad through acquisition of productive assets such as capital, technology, labor, plant and equipment The above definitions though remain differences, consensus in two basic natures of FDI First, there must be the participation of at least one foreign company (the investor) and a host country where the investment locates In this relation, the investor contributes directly their know-how, technology and other production factors into the host country as a form of a business firm The second component is the pattern of the ownership This ownership defines the way investors manages their businesses in host countries in the relation with their mother companies (or parent firms) in home countries According to Hill et al (2008), firms have several options to go global They are, among the most recognized ones, Exporting, Licensing, and Foreign Direct Investment In this, FDI finds great advantages in preventing the company from transportation cost, trade barriers (in case of Exporting) and from leakages of Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province technology know-how, operation and business strategy control problem (in case of Licensing) Shatz and Venables (2000) found two main reasons lead a company to FDI which are to better serve the local market of the host country (horizontal FDI), and is to get lower cost inputs (vertical FDI) Also from Hill et al (2008), multinational enterprises (MNEs) need to locate their businesses in other markets because of their “Strategic Behavior” This behavior requires companies to keep pace with their competitors in any business movement which happens when an industry composed of a limited number of large firms (oligopoly) In addition, in today‟s globalized market, FDI provides MNEs ability to access emerging trends, new technologies and the best skills worldwide (Cavusgil, 2008) The benefit for a FDI host country is still controversial Although there are remain arguments from anti-globalist who protest against “the invasion” of MNEs to local business, most of the scholars agree on the huge benefit that FDI could bring to the host country (Dicken, 2011) Studies in China showed that FDI promoted income growth and asset formation (Zhang (2001), Ng and Tuan (2002)) Positive impact of foreign investment on labor productivity growth rate could be found in the study of Ramirez (2000) in Mexico Domestic pharmaceutical companies in India are beneficial from the appearance of foreign companies in this country in terms of investment, competition and operations (Johri (1983) and Kumar (1996), cited by Nayak, 2008) In addition, empirical studies showed positive relations between FDI and economic growth of host country, even in some indirect ways Findlay (1978, cited by Hill et al, 2008) postulated that FDI increase the rate of technical progress in the host country through a “contagion” effect from the more advance technology and management practices used by foreign firms Tsai (1994) found this relationship and that it varies from periods of time and the patterns of the economy Then, study of Sahoo (2006) on FDI in four countries in South Asia also found that FDI has a significantly positive impact on growth Hill et al (2008) consolidated at least four Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province 29 Janicki, H P and Wunnava, P V (2004) Determinants of foreign direct investment: empirical evidence from EU accession candidates Applied Economics Vol 36, pp 505 – 509 30 Judith M Dean, J M., Lovely, M E., and Wang, H (2009) Are foreign investors attracted to weak environmental regulations? Evaluating the evidence from China Journal of Development Economics Vol 90, pg 1–13 31 Kok, Recep and Ersoy, B C (2009) Analyses of Determinants of FDI in developing countries International Journal of Social Economics Vol 36 Nos 1/2, pp 105-123 32 Kolstad, I and Villanger, E (2006) Determinants of foreign direct investment in services, European Journal of Political Economy Vol 24, pp 518–533 33 Le, Viet Anh (2004) “Locational Determinants of Foreign Direct Investment: The Case of Vietnam” Presentation at JVEC’s Meeting 29th May 2004 34 Long An Service of Planning and Investment (2007) Long An 20-year FDI report 35 Mudambi, R (1999) Multinational investment attraction: principal–agent considerations International Journal of Economics of Business Vol 6, pg 65– 144 36 Ng, L.F.Y and Tuan, C (2002), Building a favorable investment environment: evidence for the facilitation of FDI in China World Economy Blackwell Publishers: 1905 37 Nguyen Manh Toan (2010) The factors affecting the infusion of foreign direct investment capital into a locality in Vietnam Journal of Science and Technology, Danang Univeristy Vol (40) 64 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province 38 Nguyen Thi Canh and Tran Hung Son (2009) The roles of FDI to Economic growth and Development in Vietnam Journal of Economic Development Vol 225 39 Nonnemberg, M B and Mendonỗa, M J C (2004) The Determinants of Foreign Direct Investment In Developing Countries Brazilian Association of Graduate Programs in Economics 40 Quazi, Rahim (2007) Economic Freedom and Foreign Direct Investment in East Asia Journal of the Asia Pacific Economy Vol 12, No 3, 329–344 41 Ramirez, M D (2000) Foreign direct investment in Mexico: a cointegration analysis The Journal of Development Studies Vol 37, No 1, pg 155 – 162 42 Raymond, R (1966) International Investment and International Trade in Product Life Cycle Quarterly Journal of Economics, May, pp 190 – 210 43 Sahoo, P (2006) Foreign Direct Investment in South Asia: Policy, Trends, Impact and Determinants, ADB Institute Discussion Paper No 56, Nov 2006 44 Sara, T.S and Newhouse, B (1995) Transaction costs and foreign direct investment in developing countries International Advances in Economic Research Vol 1, No 4, pg 317 - 342 45 Shatz, H J and Venables, A J (May 2000) The Geography of International Investment World Bank Policy Research Working Paper No 2338 46 Smith, S (1997) Restrictive policy toward multinationals: Argentina and Korea, Case Studies in Economic Development, 2nd, pp 178–189 47 Stelzer, Leigh and Chunguang, Ma (1992) Gauging investor satisfaction China Business Review Vol 19, Issue 6, pg 54 – 56 65 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province 48 Tang, L (2002) Measuring the intensity of vertically integrated multinational enterprises Review of Development Economics Vol 6, No.3 pg 478 – 569 49 Tsai, P L (1994), Determinants of Foreign Direct Investment and Its Impact on Economic Growth Journal of Economic Development, Volume 19, Number 1, June 1994 50 Wint, A G and Williams, D A (2002) Attracting FDI to developing countries – A changing roles for government? The International Journal of Public Sector Management Vol.15, No 5, pp.361 – 374 51 Wheeler, D and Mody, A (1992) International Investment Location Decisions: The Case of U.S Firms Journal of International Economics Vol 33, pp 57-76 52 Yang, J.Y.U, Groenewold, N and Tcha, M (2000) The determinant of foreign direct investment in Australia The Economic Record Vol.76, No 232, pg 45- 99 53 Zhang, K.H (2001) How does foreign direct investment affect economic growth in China? Economics of Transition Vol 9, No 3, pg 679 – 772 The Internet: 54 Indexmundi (2011) Vietnam – GDP real growth rate [Online] Available at: http://www.indexmundi.com/g/g.aspx?c=vm&v=66 [Accessed: 15/11/2011] 55 Sinha, Dipesh (2008) Foreign Direct Investment In Telecommunications Sector In India [Online] Available at: [Accessed: 16/10/ 2011] 56 Vietnam Ministry of Planning and Investment (2011a) Foreign Direct Investment [Online] Available at: < http://fia.mpi.gov.vn/Default.aspx> [Accessed: 15/11/2011] 66 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province 57 Vietnam Ministry of Planning and Investment (2011b) Vietnam‟s FDI figures [Online] Available at: [Accessed: 15/11/2011] 58 World Trade Organization (2011a) Trade and Foreign Direct Investment [Online] Available at: [Accessed: Oct 19, 2011] 59 World Trade Organization (2011b) Accessions Viet Nam [Online] Available at: http://www.wto.org/english/thewto_e/acc_e/a1_vietnam_e.htm [Accessed: 15/11/2011] 67 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province APPENDIX APPENDIX 1: FDI in Vietnam by sectors, until Jun 23, 2011 Source: Vietnam Ministry of Planning and Investment (2011b) Sector No No of projects Processing and manufacturing industry Total registered (Charter capital) capital (USD) (USD) 7,570 97,816,757,416 33,189,346,305 Real Estates business 358 48,189,436,166 11,671,096,562 Construction 738 11,852,579,218 3,775,342,074 Accommodation services 306 11,741,938,576 3,206,402,067 64 5,136,371,678 1,208,515,738 Information and communication 661 4,825,918,058 2,983,115,949 Arts and entertainment 126 3,621,468,103 1,097,895,628 Transportation and storage 305 3,188,362,685 1,006,321,840 Agriculture, Forestry and Fisheries 481 3,097,980,626 1,500,607,145 Manufacturing and distributing electricity, water and air conditioning 10 Mining 68 2,943,365,137 2,350,113,746 11 Wholesale, retail, repair 556 1,734,612,343 866,905,625 12 Finance, bank, insurance 75 1,321,550,673 1,171,785,673 13 Health, social help 76 1,113,196,437 239,909,016 14 Operate specialist, technology scientist 1,020 754,003,079 378,959,862 15 Other services 105 636,058,106 139,049,092 16 Water supply, waste treatment 25 386,978,770 38,458,000 17 Education and training 140 345,147,332 120,476,491 18 Administrative and support services 102 183,373,821 95,283,411 12,776 198,889,098,224 65,039,584,224 Total 68 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province APPENDIX – FDI in Vietnam by province, until Jun 23, 2011 Source: Vietnam Ministry of Planning and Investment (2011b) Province No Ho Chi Minh city Ba Ria - Vung Tau Ha Noi No of Total registered (Charter capital) projects capital (USD) (USD) 3,654 30,941,481,210 10,797,295,287 266 26,466,369,668 7,160,126,929 2,063 20,899,512,794 7,953,792,087 Dong Nai 1,063 17,037,203,469 7,540,459,418 Binh Duong 2,199 14,342,419,677 5,098,588,944 Ninh Thuan 27 10,411,132,816 998,678,678 Ha Tinh 28 8,394,642,000 2,803,677,630 Phu Yen 48 8,133,956,438 1,798,818,655 Thanh Hoa 44 7,075,418,144 519,373,987 10 Hai Phong 325 5,368,304,114 1,672,518,638 11 Quang Nam 75 5,049,157,621 1,238,458,440 12 Quang Ninh 106 3,800,283,729 1,056,695,872 13 Quang Ngai 20 3,789,928,689 620,430,789 14 Long An 361 3,540,615,865 1,362,450,810 15 Da Nang 181 3,394,084,882 1,565,633,670 16 Kien Giang 23 3,016,840,670 1,433,979,895 17 Hai Duong 297 2,929,008,051 1,074,780,090 18 Petro 43 2,554,191,815 2,187,191,815 19 Bac Ninh 213 2,414,593,941 732,779,256 20 Vinh Phuc 143 2,265,319,523 633,171,494 21 Thua Thien Hue 61 1,894,588,938 452,753,035 22 Nghe An 28 1,506,147,529 235,373,308 23 Binh Thuan 87 1,392,210,550 387,531,000 24 Hung Yen 197 1,198,234,189 522,874,382 25 Tay Ninh 203 952,242,816 507,034,597 26 Lao Cai 34 829,044,633 273,377,241 27 Khanh Hoa 81 821,432,341 272,731,666 780,400,000 7,000,000 23 747,277,813 203,522,529 28 29 Ca Mau Ninh Binh 30 Can Tho 52 731,544,738 662,341,692 31 Bac Giang 84 722,848,697 437,786,320 639,516,666 360,216,666 32 Hau Giang 69 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province 33 Binh Dinh 41 596,359,000 225,877,000 34 Lam Dong 112 523,822,504 262,782,997 35 Binh Phuoc 81 490,150,000 263,416,380 36 Tien Giang 35 469,016,723 227,353,112 37 Phu Tho 61 395,106,447 219,573,750 38 Thai Binh 32 253,692,206 88,834,582 39 Ha Nam 35 221,725,490 114,383,165 40 Lang Son 35 205,951,522 146,010,139 41 Nam Dinh 33 183,538,007 132,169,750 22 167,838,411 113,245,697 42 Ben Tre 43 Hoa Binh 25 127,560,391 58,300,157 44 Tra Vinh 26 123,086,701 88,813,701 45 Son La 10 115,879,684 16,072,000 46 Tuyen Quang 114,660,322 22,300,000 47 Thai Nguyen 26 113,299,472 93,902,540 101,668,750 11,168,750 48 Dac Lak 49 Vinh Long 19 91,374,240 70,964,240 50 Gia Lai 10 83,368,616 16,460,000 51 An Giang 82,515,000 44,530,430 52 Kon Tum 71,950,000 71,950,000 53 Quang Tri 14 62,759,500 23,717,100 12 46,150,370 29,094,411 54 Bac Lieu 55 Quang Binh 39,783,800 16,213,800 56 Dong Thap 15 36,830,537 30,970,537 57 Yen Bai 15 32,745,188 14,579,581 58 Soc Trang 29,643,000 16,363,000 59 Cao Bang 12 26,125,000 22,200,000 60 Bac Can 17,905,667 8,437,667 61 Dac Nong 10,619,000 6,011,770 62 Ha Giang 9,888,514 9,313,012 4,001,136 3,001,136 129,000 129,000 12,776 198,889,098,224 65,039,584,224 63 64 Lai Chau Dien Bien Total 70 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province APPENDIX – INDEPTH INTERVIEW ENGLISH VERSION Introduction: Hello I am a graduate student, course 17th, Master of Business Administration program of the University of Economics Ho Chi Minh city I am conducting my research on the Determinants of FDI in Long An province First, I would like to thank you for your participation in this discussion It is my honor to discuss with you on some points of the investment issue in Long An I am grateful for any straightforward ideas from you There is no right or wrong opinion All of your ideas are be useful for my research, and to some extent, they will all be helpful for Long An government for further completing their investment environment The required time for this discussion is around hour Discussed questions: What was the situation in that you have decided to invest in Long An province? What are the advantages and disadvantage of Long An‟ investment environment? What is the display of investors‟ satisfaction, from your point of view? What are your comments on the investment conditions in Long An: a) Market (Long An and Vietnam) b) Economy growth rate c) Labor resource (quantity and quality of labor resource, the cost of labor) d) Infrastructure (transportation, electricity, water supply, communication, sea port, industrial zone) e) Province‟s natural resource (mining resource, materials) 71 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province Do you think the conditions above have determined your investors‟ satisfaction into Long An province? Beside them, is there any other factors that make you to invest in Long An? What are your comments of the investment policies of Long An? a) The country‟ openness b) Investment policies c) Investment incentives d) Macro-economy stability Do you think the policies above have determined your investors‟ satisfaction into Long An province? Beside them, is there any other factors that make you to invest in Long An? VIETNAMESE VERSION Giới thiệu: Xin chào Tôi học viên cao học khóa 17, chương trình đào tạo Thạc sĩ quản trị kinh doanh trường Đại Học Kinh Tế Tp HCM Tôi thực đề án nghiên cứu nhân tố định đầu tư trực tiếp nước (FDI) tỉnh Long An Trước tiên, xin trân trọng cảm ơn quý anh (chị) giành thời gian tiếp chuyện với Tôi hân hạnh thảo luận với quý anh (chị) số vấn đề đầu tư Long An Xin quý anh chị trao đổi thẳng thắn, khơng có quan điểm hay sai Tất quan điểm anh (chị) giúp ích cho tơi phục vụ cho tỉnh Long An nhằm mục đích hồn thiện môi trường đầu tư tỉnh nhà Thời gian thực dự kiến khoảng Câu hỏi thảo luận: 72 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province Hoàn cảnh công ty định đầu tư vào tỉnh Long An? Ưu nhược điểm đầu tư Long An? Theo anh (chị), đâu biểu định đầu tư Làm hiểu nhà đầu tư muốn định? Anh (chị) có nhận xét điều kiện đầu tư tỉnh Long An: a Thị trường (thị trường tiêu thụ nước, khu vực tỉnh Long An) b Tốc độ tăng trưởng kinh tế c Nguồn lao động (số lượng lao động, chất lượng lao động, chi phí lao động) d Cơ sở hạ tầng (giao thông, điện, nước, thông tin liên lạc, cảng biển, khu cơng nghiệp) e Nguồn lực chổ (tài ngun, khống sản, nguồn nguyên vật liệu đầu vào) Anh (chị) có cho điều kiện tác động đến định anh (chị) chọn Long An địa điểm đầu tư? Ngồi vấn đề trên, có vấn đề khác tác động đến định đầu tư anh (chị) không? Anh (chị) có nhận xét sách đầu tư tỉnh Long An: a) Chính sách mở cửa, hội nhập kinh tế địa phương b) Chính sách đầu tư địa phương c) Các sách khuyến khích đầu tư d) Sự ổn định vĩ mô kinh tế Anh (chị) có cho sách tác động đến định anh (chị) chọn Long An địa điểm đầu tư? Ngoài vấn đề trên, có vấn đề khác tác động đến định đầu tư anh (chị) không? 73 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province APPENDIX – QUESTIONNAIRE ENGLISH VERSION Hello I am a graduate student, course 17th, Master of Business Administration program of the University of Economics Ho Chi Minh city I am conducting my research on the Determinants of FDI in Long An province First, I would like to thank you for spending time on my questionnaire I am grateful for any straight ideas from you There is no right or wrong opinion All of your ideas would be useful for my research, and to some extent, they will all be helpful for Long An government in further completing their investment environment a) The nationality of the investor Asia Europe Others b) The target market of the business International Domestic Both Please provide your level of agreement toward the statements about your investmentrelated issues in Long An with the rule as: is completely disagree, is disagree, is no idea, is agree, is completely agree The consumption market of Long An and the vicinity in general is very potential We have a lot of customers in the province and the vicinity The large amount of suppliers in the province and the vicinity ensures our long-term business Labor resource in the province is abundant 5 Labor cost is reasonable 74 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province The traffic situation and traffic system in the province in quite good The electricity is stably supplied The cost for electricity is reasonable Water supply is stable 10 The cost of water supply is reasonable 11 Telecommunication (telephone, internet, post office,…) is very convenient 12 Land and leasing fee is reasonable 13 The province provide enough land for our business 14 Input material resource is stable 15 The province mineral resource is abundant 16 The province‟s tax policy is almost suitable, that investors can take advantage 17 Customs procedures are prompt 18 The regulations in import and export are reasonable and favorable for enterprises 19 Propriety rights is clearly and effectively set up 20 Investment procedure is neat and complete 21 Communication between government and enterprises are prompt and effectively 75 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province 22 The province‟s administration services provided by the government are qualified 23 The government promptly solves the enterprises‟ difficulties 24 Incentives for new and priority businesses is very helpful 25 Our business is very satisfactory 26 We achieved the expected growth rate 27 We can definitely reach short-term objectives 28 We are willing to invest more if necessary 29 We are happy to introduce other investors to invest in Long An Thank you! VIETNAMESE VERSION Xin chào Tơi học viên cao học khóa 17, chương trình đào tạo Thạc sĩ quản trị kinh doanh trường Đại Học Kinh Tế Tp HCM Tôi thực đề án nghiên cứu nhân tố định đầu tư trực tiếp nước (FDI) tỉnh Long An Trước tiên, xin trân trọng cảm ơn quý công ty giành thời gian trả lời câu hỏi Xin quý công ty trả lời thẳng thắn, khơng có câu trả lời sai Tất quan điểm quý công ty giúp ích cho tơi phục vụ cho tỉnh Long An nhằm mục đích hồn thiện mơi trường sách đầu tư tỉnh nhà c) Quốc tịch công ty đầu tư Châu Á Châu Âu Châu lục khác d) Thị trường đầu mục tiêu công ty Quốc tế Nội địa Xuất nội địa 76 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province Xin công ty cho biết mức độ đồng ý công ty ý kiến xoay quanh vấn đề có liên quan đến hoạt động đầu tư công ty Long An, với qui ước: 1: hồn tồn khơng đồng ý, 2: khơng đồng ý, 3: khơng có ý kiến, 4: đồng ý, 5: hoàn toàn đồng ý Thị trường tiêu thụ Long An khu vực có tiềm Chúng tơi có nhiều khách hàng địa phương vùng phụ cận Số lượng nhà cung cấp địa phương vùng phụ cận đảm bảo cho hoạt động lâu dài Lực lượng lao động địa phương dồi 5 Chi phí lao động hợp lý Tình trạng giao thơng hệ thống giao thông địa phương tốt Nguồn điện cung cấp ổn định Giá điện sản xuất hợp lý Nguồn nước cấp ổn định 10 Giá nước sản xuất hợp lý 11 Thông tin liên lạc (điện thoại, internet,…) thuận tiện 12 Mặt chi phí thuê mặt hợp lý 13 Địa phương cung cấp đầy đủ mặt cho 14 Nguồn nguyên liệu đầu vào ổn định 15 Tài nguyên khoán sản địa phương dồi giàu 16 Chính sách thuế địa phương hợp lý, thuận lợi cho nhà đầu tư 77 Determinants of Investors’ satisfaction – the case of FDI Investors in Long An province 17 Thủ tục hải quan nhanh gọn 18 Các quy định xuất nhập hợp lý, thuận lợi cho hoạt động doanh nghiệp 19 Quyền sở hữu tài sản xác lập rõ ràng 20 Thủ tục đầu tư thực nhanh gọn 21 Thông tin hai chiều doanh nghiệp quyền tốt 22 Dịch vụ hành địa phương có chất lượng cao 23 Chính quyền hỗ trợ kịp thời việc giải vướn mắc doanh nghiệp 24 Ưu đãi mà quyền dành cho doanh nghiệp doanh nghiệp hoạt động lĩnh vực ưu tiên hữu ích 25 Hoạt động kinh doanh khả quan 26 Chúng đạt tốc độ tăng trưởng mong muốn 27 Chúng tơi hồn tồn hồn thành mục tiêu ngắn hạn 28 Chúng sẵn sàng đầu tư thêm cần thiết 29 Chúng tơi vui lòng giới thiệu nhà đầu tư khác đầu tư vào địa phương Xin cảm ơn! 78 ... that the interaction of FDI with some Determinants of FDI have a strong positive effect on economic 20 Determinants of Investors satisfaction – the case of FDI Investors in Long An province. .. from the theory of 22 Determinants of Investors satisfaction – the case of FDI Investors in Long An province Dunning and from the context of developing countries Depends on the context and methodology,... is the comment from most of local and international experts when they encounter the FDI area in Long An The statistic number of FDI Determinants of Investors satisfaction – the case of FDI Investors
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