THE IMPACT OF FOREIGN INVESTMENT ON THE SOCIO-ECONOMIC DEVELOPMENT OF THAI NGUYEN PROVINCE IN THE PERIOD 2018–2022

Abstract

In the context of economic globalization, investment flows from developed countries to developing nations have been increasing significantly. This presents a favorable opportunity for developing countries to leverage their advantages and seize opportunities to promote domestic socio-economic development. Vietnam, as a developing country in a dynamically growing economic region, considers foreign investment attraction crucial for both national and local socio-economic development. By employing methods such as literature review, statistical analysis, comparison, and data synthesis, this article focuses on analyzing and assessing the status of investment capital attraction and the development of foreign-invested enterprises in Thai Nguyen province during the period 2018–2022. Based on this analysis, the study provides a comprehensive evaluation of both the positive impacts and the existing limitations in attracting foreign investment. The research findings show that FDI capital and enterprises have significant impacts on Thai Nguyen’s socio-economic development, including accelerating industrialization and modernization. However, certain limitations persist, especially in the face of the challenges posed by economic integration. The findings of this study hold important implications by providing a holistic view of foreign investment’s impact. They serve as a foundation for proposing solutions to optimize investment capital utilization, drive economic breakthroughs, and formulate appropriate policies for the sustainable attraction and management of foreign capital flows.