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In the period 2000-2010, the foreign sector witnessed a quantitative and qualitative rise, becoming a crucial part of Vietnam’s economy. The paper is to extend several measures to improve the FDI attraction in Vietnam, making it an ideal business environment for both local and foreign investors. | 44 | Nguyễn Quốc Nghi & Nguyễn Hữu Thuận The Marketing Approach to FDI Attraction The Marketing Approach to FDI Attraction NGUYỄN QUỐC NGHI* & NGUYỄN HỮU THUẬN** ABSTRACT In the period 2000-2010, the foreign sector witnessed a quantitative and qualitative rise, becoming a crucial part of Vietnam’s economy. Foreign direct investment (FDI) accounts for around 20% to 30% of the gross investment. In past years, attention has been only paid to the number of FDI projects and their registered capital, instead of their quality. Moreover, together with shortcomings in the infrastructure, inconsistency in investment attraction policy and inefficient promotion and communication policies made Vietnam’s business climate less attractive in the eyes of foreign investors. Therefore, from the marketing approach, the paper is to extend several measures to improve the FDI attraction in Vietnam, making it an ideal business environment for both local and foreign investors. Keywords: FDI, investors, marketing approach 1. INTRODUCTION From a starting point as a subsidized economy severely damaged by the US Embargo and poor productivity, Vietnam’s economy, some 20 years after its economic reform was launched, has attained high growth rates, better living standards and improved infrastructure. Its average growth rate in 19902000 was 7.5% and its GDP doubled in this period and kept increasing. In 2001-2010, its growth rate was 7.25%, slightly lower than that of the previous period but rather stable. Vietnam’s economic structure was improved positively, resources from all sectors were properly tapped and comparative advantages of all industries and provinces were developed with the result that the competitiveness of the economy was improved considerably. These achievements proved that the policy on economic reform was right and the Government succeeded in making the best use of both external and internal resources, including the FDI as an important factor. There is no denying the fact .
