The thesis aims at studying the impact of investment and development of infrastructure of industrial parks to attract investment into industrial parks; offering solutions and proposals for investment in developing industrial park infrastructure to increase investment attraction in industrial parks for managers and infrastructure investors.
Trang 1INTRODUCTION
1 Urgency of the Research Topic
Investment in infrastructure development of industrial zones (IZ) is one ofthe important factors for attracting investment in the industrial park, promoting economic and social development of local national and especially the developing countries
This view not only the researchers affirmed in theory, but also reflected the success of countries such as China,Taiwan, Thailand in the implementation of investment and development of infrastructure to enhance the industrial zone to attract investment from which creates big leap forward for growth and economic development However, not every country or locality is successful with this model So in terms of theoretical and practical development investment IZ infrastructure impacts how to attract investment into the IPs?
In the world and Vietnam have much theoretical research and experimental development investment shows infrastructure IPs positive impact
to attract investment in industrial zones Investment and development of infrastructure IPs contribute to improving the production efficiency of the investment business ((Marshall (1890); Jacobs (1969); Krugman (1979, 1991); Reduce costs for investors (Marshall (1890); Weber (1929); Vernon (1966); Badri, Masood (1996); Fujita, Thisse (1996)); The Competitive Advantage of Nations (Porter, 1990), It contributes to increase competitiveness for investors; Mitigation of Investment Risk by Kuchiki (2005, 2006), Nguyen Ngoc Anh, Nguyen Thang (2007); Dinh Phi Ho (2012); Pham Van On, Tran Phan Doan Khanh (2012) also showed that the infrastructure of the industrial zone has positive impacts to attract investment in the industrial zone According to the survey data of the Central Development Cooperation Consulting Group in 2012 from investors operating in the industrial zones of the region, investors think that the important factors will positively affect the investment decisions of enterprises in the industrial zones in order: preferential policies, support; Geographic location; advantage of labor cost; synchronous infrastructure; quality of human resources; potential market; abundant natural resources It can
be said that many researchers have evaluated the investment in infrastructure development of the industrial park plays a very important role to attract investment in the industrial zone However, investment in infrastructure development of the IZ includes investment in the development of technical infrastructure of the IZ and investment in the development of social infrastructure in the industrial zone
Most of the studies are only in the analysis of the impact of investment in infrastructure development of the IZ or the investment in the development of technical infrastructure of the IZ with little analysis separation of the two
Trang 2contents of investment in development of social infrastructure of industrial zones and investment to develop technical infrastructure of industrial zones to attract investment in industrial zones In Vietnam fewer researchers analyzed aggregate channels the impact of the investment and development of infrastructure to attract investment in industrial parks in the industrial park To carry out investment activities in industrial zones is a process that consists of 3 stages: preparation of investment, implementation of investment and operation
of investment results; Different investment stages will have different criteria for attracting investment.However, studies often measure investment attraction in
an area such as investment decisions, investment intentions, investment attractiveness results, or investor satisfaction, but not yet evaluated criteria appropriate to each stage of the investment The author's research will analyze the impact of infrastructure development investment in the IPs to attract investment into the IZ in three aspects: investment decision in the IP (corresponding to investment preparation stage), Results attract investment in industrial zones (corresponding period of investment implementation) and the level of satisfaction of investors in the industrial park (which corresponds to the operational phase of investment or the result of investment cycles) From the beginning of 1990 until now, investment in infrastructure development of industrial zones in Vietnam has taken place with the increase of investment capital in these industrial zones According to the report on the model of industrial parks and economic zones in 2017 of the Ministry of Planning and Investment, "from the establishment up to now, foreign direct investment in industrial zones, export processing zones annually from 35% - 40% of the total registered capital of Vietnam; Particularly the industrial sector accounts for nearly 80% Thus, the investment in the development of the industrial park model has attracted a great amount of capital for Vietnam and accelerated the process of industrialization and modernization Experience in developing industrial zones in the country and in the world is that if the investment in industrial infrastructure is delayed or incomplete, lack of synchronism, the IZs are in danger of ineffective Each industrial park has a synchronous and modern infrastructure, the more active the investment is; poor infrastructure, not complete, the attraction will be more difficult
However, in Vietnam also showed an increase in the number of IPs is not proportional to the occupancy rate of the industrial park Even those industrial parks that have invested in infrastructure, the occupancy rate remains low, not contributing to the economy commensurate with the invested resources; It has not shown the role of local economic development as the target This is actually happening in many industrial parks in Vietnam in general and in Binh Dinh in particular Binh Dinh determines investment activities to develop the infrastructure of the IZ will be an important factor to help the province to
Trang 3attract more investment and social and economic development, making Binh Dinh become the growth pole in the economic region Central key According to the plan to develop Vietnam's industrial parks to 2020, there will be 08 industrial zones in Binh Dinh with a total planned area of 1,961 hectares Phu Tai Industrial Zone is the Prime Minister established under Decision No 1127 / QD-TTg dated 18/12/1998 scale industrial park area of 80 hectares is the first focus of Binh Dinh Province Up to now, the size of Phu Tai Industrial Park has been adjusted 5 times, expanding to meet the investment needs of enterprises and increased to 345.8 hectares Subsequently, Long My Industrial Park was formed in 2004 to supplement the resources accelerate industrial development and contribute to the economic restructuring of the province Currently, Long
My Industrial Zone has basically filled up the secondary project area of over
110 hectares on the planning approval Established and invested after Hoa Hoi Industrial Park but Nhon Hoa Industrial Zone has progressed to build technical infrastructure quickly and can be seen as filling the first phase of the industrial zone Cat Trinh Industrial Park was established in October, 2011 and is currently implementing compensation, land clearance and resettlement, infrastructure development Previously, in June 2011, Hoa Hoi Industrial Park had its investment certificate revoked because the infrastructure investor did not have the capacity to carry out the construction work in accordance with the schedule of commitments, although the province has created favorable conditions profit.With these conditions, up to 2015, the industrial zones in the province has 219 projects granted certificates with total registered capital of VND 30,333 billion; By 2017, there were 226 projects with 11,856 billion dong
of registered capital (due to a large project canceled investment registration), the cumulative realized capital is only 7,421 billion However, the province's industrial park projects no large-scale investment, high technology, capable of promoting the development of many industries and sectors Capital foreign investment into Binh Dinh is still small, the majority of investment projects foreign direct investment has attracted is small projects, financial capability is not strong and not creates incentives to attract large investors Investment capital attracted mainly concentrated in three industrial parks already relatively complete the infrastructure with the occupancy rate high (80% or more) also in other industrial parks are in the stage of investment in infrastructure IPs attracted some project or not attracted According to Mr Duong Ngoc Oanh, Head of Investment Management Department of Binh Dinh Economic Zone Authority, said: "The attractiveness of investors is the infrastructure The investment spread, drip can not effectively promote the IZ but also lead to waste We can see the number of industrial zones established in the province is
8 but actually only 3 IZ fundamentally improve the system infrastructure, while the other industrial parks incomplete development investment infrastructure
Trang 4floor is also a major constraint in promoting investment in industrial zones
"According to the specialized agencies of the Province, "the preferential policies have paralleled the synchronization of infrastructure, human resources, and other support new attractive enough to investors; top priorities are investors interested in Binh Dinh but the main point is to take industrial zone infrastructure." The delays in compensation and land clearance, delayed issuance of land use right certificates, infrastructure in industrial zones have not been invested in quality and integrity, causing discouraging secondary investors
to delay or postpone investment investment.The delays in compensation and land clearance, delayed issuance of land use right certificates, infrastructure in industrial zones have not been invested in quality and integrity, causing discouraging secondary investors to delay or postpone investment investment
On the other hand, due to the low starting point of social infrastructure in the province, it also affects the attraction of investment in industrial zones The housing project for workers associated with urban planning and industrial park will solve the situation tenancy with conditions of living in appalling conditions
in the residential area near the industrial zones in the province, but the industrial zones in the province have not been properly invested According to Nguyen Thi Hong Si, Deputy Director, Center for Investment Promotion (Department of Planning and Investment of Binh Dinh province), "the perfect infrastructure to ensure that the IPs have not drastically, leading to regulation Wherever the population grows there Then many other issues arise when the IPs share infrastructure with residential areas This has greatly affected the attraction of investment in industrial zones “Thus, investment activities
developed infrastructure IPs (infrastructure engineering and infrastructure in society) in Binh Dinh has a large effect to attract investment in industrial zones
in the province Completing the investment in infrastructure development of the industrial zone and bringing into play the positive impact of the infrastructure system of the industrial zone to enhance attracting investment in industrial zones in the province is a matter of concern in Binh Dinh in recent years On the situation in Vietnam in general and Binh Dinh in particular that researchers paid more attention to the issue of investment and development of infrastructure IPs positive impact of the investment in industrial zones like on aspects: the decision to invest in industrial zones, results in the industrial zone
to attract investment, the level of satisfaction of investors in IPs? At what level? What channels are affected? Investing in infrastructure development of the current industrial park has met the requirements of investors or not? Is it necessary to invest in developing more IPs? And more, policy-makers do about investment in developing infrastructure to strengthen the industrial zone to attract investment in industrial zones in Binh Dinh province? The analysis of the study will contribute to the interpretation of these issues both theoretically
Trang 5and practically Before the gaps of the previous studies and the practical problem understand the impact of investment in infrastructure development to attract investment in industrial zones in IZ is necessary Therefore, the author
selected the topic "Impact of investment in developing infrastructure of
industrial zones on attracting investment in industrial zones in Binh Dinh province" as thesis
2 Objectives and Research Questions
Overall objective is to study the impact of investment and development
of infrastructure to attract investment in industrial parks in the industrial park The author also made a number of proposals on investment in infrastructure development of the industrial zone to enhance attracting investment in industrial zones for managers and infrastructure investors
To achieve the research objectives, the author answers the following research questions:
i What factors affect the investment attraction in the IP?
ii Investment and development of infrastructure to attract IZ impact investing in industrial zones through which channels?
iii The impact of investment and development of infrastructure to attract investment in industrial zones in IZ?
iv What are the solutions to invest in infrastructure development of the industrial zone to increase attracting investment in industrial zones?
3 Subjects and scope of research
The subject of research is the impact of investment in developing industrial infrastructure to attract investment in industrial zones
The scope of the research is research in industrial zones in the province
of Binh Dinh Secondary data collected during the period from 2010 to 2016 and survey respondents included managers, investors inside IPs and investors outside industrial zones in Binh Dinh province
4 New contributions of the thesis
In theory and research methods
The thesis synthesizes and analyzes the four channels of investment in the infrastructure development of the IZ to attract investment into the IZ including the channel of business operation efficiency, cost channel, channel of competitiveness and risk channel The thesis elaborates the model and estimates the impact of two contents: investment in development of technical infrastructure of industrial zones and investment in development of social infrastructure of industrial zones to attract investment in industrial zones on three sides edge is the decision to invest in the IZ, the results attracted to the IP and the level of satisfaction of investors in industrial zones.The thesis points out investment and development of technical infrastructure in industrial zones positively impact the decision to invest in industrial zones to attract investment
Trang 6results in IZ and the satisfaction level of investment in the industrial park home Investment in the development of social infrastructure in the industrial zone has
a positive impact on the satisfaction of investors in industrial zones
Practices
The thesis identifies and points out the nature; Analysis of the impact channels of investment in infrastructure development of the IZ to attract investment into the IZ At the same time, it is estimated that this impact on the overall factors affecting the investment attraction in the IP This helps managers and investors to infrastructure controlled or adjusted elements of investment and development of infrastructure to promote industrial parks to attract investment in industrial zones Thesis assess the impact of investment and development of infrastructure industrial zones to attract investment, depending on the stage of investment activities with the criteria corresponding
to the decision to invest in industrial zones, the results draw on IPs and satisfaction of investors From here, the thesis proposed for managers and investors IZ infrastructure in the province of Binh Dinh reasonable solutions for investment and development of infrastructure to enhance the industrial zone
to attract investment in industrial zones
5 The composition of the thesis
Apart from the preamble and conclusion, the dissertation contains five chapters:
Chapter 1: Overview of research
Chapter 2: Theoretical bases on the impact of investment in the development of industrial zone infrastructure to attract investment in industrial zones
Chapter 3: Research Methods and Research Models
Chapter 4: The impact of investment investment in infrastructure development of industrial zones to attract investment in industrial zones in Binh Dinh province
Chapter 5: Orientations and solutions for investment in development of industrial park infrastructure in order to attract more investment in industrial parks in Binh Dinh province
In addition, the thesis also includes:
CHAPTER 1: OVERVIEW OF RESEARCH 1.1 Research related to investment in infrastructure development in industrial zones
The issues related to infrastructure investment and developments have been paid attention by many researchers in the world and in Vietnam
Trang 7The theoretical issues on planning, territorial organization, analyze the situation of planning, choosing placement IPs from which to make the solutions planned industrial zones in order to develop industrial parks in Vietnam is mentioned in the case studies as Nguyen Cao Lanh (2000), Pham Dinh Tuyen (2001), Nguyen Xuan Hinh (2003) and a number of other studies.The research team on the status of development and sustainable development of industrial zones in Vietnam has analyzed in detail the current status of development of IZs in Vietnam and other localities, assessing the current and future of industrial zones orientation for policy makers to develop industrial parks and sustainable solutions for sustainable development IPs are the authors give a very rich and consistent with the practice of Vietnam by Nguyen Chon Trung, Truong Giang Long (2004) Tran Ngoc Hung (2004), Vu Thanh Huong (2006), Phan Manh Cuong (2015) Research team on investment in infrastructure development such as Nguyen Ngoc Dung (2010), Tran Ngoc Hung (2009), and Nguyen Dinh Trung (2012) Nguyen Ngoc Dung (2010) analyzed the current status and proposed a number of indicators to assess synchronism, indicating the ability of synchronous development of industrial zones in Hanoi Research
on the issue of investment in social infrastructure development as well as the social impact of industrial zone development which proposes solutions to social problems that arise along with the investment and development of industrial zones number of writers of interest such as Tran Viet Tien (2008), Le Xuan Ba (2007), Hoang Ha, Ngo Thang Loi and others (2009), Tran Ngoc Hung (2009) Thus, there have been many studies related to us by reasoning and status related to investment activities developed infrastructure IPs in many aspects in Vietnam and the different localities in Vietnam These studies have also proposed useful solutions and recommendations for policy makers involved in investing in infrastructure development in the IZ.These studies in Vietnam usually only stop the analysis, evaluation and comparison of investment activities in infrastructure development of IPs and solutions and proposals but do not use many quantitative tools Besides, there are no studies related to infrastructure investment in industrial zones in Binh Dinh
1.2 Research related to attracting investment into industrial zones
According to Dunning (1993), these three factors are the advantage of ownership, location advantage and internal advantage in answering three questions: why multinationals want to invest abroad, where to invest and how
to invest? Porter's research (2000) Competitive Advantages, Investment Sites, Industry / Industry Combinations and Corporate Strategy provide a dynamic approach to investment decision motivation, highlighting the role of public corporations Industry / industry in the competitive strategy of enterprises, at the same time analyze the role of investment locations in the process of forming competitive advantage of enterprises Walcott (2003) studied the role
Trang 8of Chinese industrial zones in attracting modern technologies to produce quality goods for domestic and international markets.In terms of factors affecting the attraction of investment in industrial zones are also many study authors Le Viet Anh (2004), Nguyen Dinh Tho (2009), Dinh Phi Ho (2012) used survey data of 226 enterprises in IZs in Vietnam to assess factors affecting investment attraction In the industrial zone with SPSS software, the infrastructure factor is one of the three factors influencing the investment attraction in the industrial park after the investment and living environment There have been many theoretical research and empirical analysis with qualitative and quantitative analysis of the world and Vietnam in attracting investment in industrial zones But overall, the study only integrated study of factors affecting the attraction of investment and joint evaluation the relationship between investment and development of infrastructure and industrial zones to attract investment in the industrial zone, mechanism of action, and the impact of how the researchers have not yet been analyzed 1.3 Research related to the impact of investment in the development of industrial zone infrastructure to attract investment in industrial zones
1.3 Studies on the impact of investment in the development of industrial zone infrastructure to attract investment in industrial zones
1.3.1 Studies on the impact of investment in the development of industrial zone infrastructure to attract investment in industrial zones
Research by Mai Van Nam, Nguyen Thanh Vu (2010); Nguyen Thi Ninh Thuan, Bui Van Trinh (2012); Nguyen Tan Tuy, Nguyen Thi Tuyet (2013) with data sets collected in different localities have concluded that the investment in infrastructure development of the IZ has the strongest impact on attracting investment into the IZ In addition, Nguyen Ngoc Anh & Nguyen Thang (2007) has demonstrated that the market and infrastructure factors influence the spatial distribution of FDI among localities Nguyen Manh Toan (2010), by statistical methodology, describes the study as concluding that technical infrastructure development is the most important factor, ranked in turn following the investment incentives of local government, as well as the central government; low operating costs; Factors are less important than potential markets; Factors that do not affect the decision to choose the location of the investor are geographic location and social infrastructure So, there are many studies on the factors that affect the investment attraction in the IP from which the impact of investment in infrastructure development of industrial zones to attract investment in industrial zones at different angles with the varying degrees of impact in different datasets These studies combine quantitative and qualitative analysis to provide the most comprehensive research results Infrastructure investment is often considered by some authors in terms of investment in the development of local infrastructure and no authors have studied the impact of
Trang 9investment factors Infrastructure development of the IZ to attract investment in the IP
1.3.2 Studies on the impact channels of investment in the development of industrial park infrastructure to attract investment in industrial zones
i Effective channel of business activities of investors
From the development practice of many countries in the world over the last two centuries, economists have proven that the model of IPs and ICs contributes to create and increase economies of scale through the collective efficiency Medium economic activity the focus of economic activity is derived from the spatial concentration of activities and economic agents Investment in infrastructure development of the IP contributes to the concentration of investors around a certain space This is reflected in the views of Afred Marshall (1890), Jaffe et al (1993), Holmes (1999), Costa and Kahn (2001) In addition, recent studies such as Kim (1995) and Glaeser et al (2001); New Economic Geography Theory (NEG) with representatives from Krugman (1991); Fujita, Krugman & Venables (1999), Henderson (1999); Fujita and Mori (2005); Paul Krugman (1979) Investment in developing industrial zones with the formation of infrastructure systems affect the scale of business activities of investors since then attract investors to invest in industrial zones.
ii Cost channel: According to studies by Glaeser et al (1992); Mills and McDonald (1992); Moulaert and Djellal (1995), at the regional level, economic growth and technological development are strongly influenced by economic efficiency derived from proximity to geospatial space By choosing a business location close to or together with a variety of businesses in many different professions in the centralized economic space or in the FEZs, that enterprise will have access to business operations and services, suppliers, distributors, research organizations Fast and easy and with low transportation costs After the economy, cost is also a factor that motivates investors to invest in industrial zones
iii Investor Competitiveness Channel: In the traditional cost approach, the main factors that have been identified in the study by Michael Porter (1990 and 2000) on competitive advantage, investment location, Industry / industry and company strategies provide a dynamic approach to investment decision motivation, highlighting the role of industry / industry combinations in corporate competitiveness, At the same time, we analyze the role of investment locations in the process of forming the competitive advantage of enterprises
iv Risk channel in investment: Kuchiki's (2005) study that when investing in IPs, the risk of foreign investors can be reduced If the investment period is long, the risk of investing in the developing country's IPs will decrease These analyzes allow the country to attract FDI understandable by international investors to adjust domestic policies as well as to design
Trang 10appropriate investment incentives, especially incentives applied in IPs are superior to other IPs.
1.4 Research gap and conclusion
Through the study overview related to the impact of investment in infrastructure development of industrial zones to attract investment in industrial zones, the author draws the following research gaps:
About content
There have been many studies on investment in infrastructure development in IZ in both theory and practice in Vietnam and some regions and localities in Vietnam However, research is focused on some aspects of development investment such as investment in technical infrastructure development, waste water treatment, housing issues for laborers There are not many studies analyzing all contents of infrastructure development investment
in industrial zones The previous studies mainly assessed the impact of the common infrastructure factors (local and industrial zones) or just assessed the impact of investment in the development of technical infrastructure of the IZ to attract investment are many studies assessing the differential effect of investment in development of technical infrastructure of industrial zones and investment in development of social infrastructure of industrial zones to attract investment in industrial zones In this study, the author assesses the impact of these two contents on attracting investment into the IZ
The analysis of channel impact of investment to develop infrastructure of the IZ to attract investment in the IZ is still low At the same time, there are no studies to synthesize the impact channels of investment to develop infrastructure of the IZ to attract investment in the IP that the author proposed include: channel business performance, channel cost, channel risk, channel competitiveness
According to the sources that the author has access to, so far the research usually only use one indicator to measure investment attraction in the IZ, no research using three aggregate indicators as the author For each period of the investment cycle, the investment decision criteria (corresponding to the investment preparation stage), the investment capital performance criteria (corresponding to the stage of investment execution the level of satisfaction of the investor (corresponding to the stage of investment performance and can evaluate the whole investment cycle) The impact of the infrastructure system
of the IZs to attract investment into the IPs is different Understanding the difference in impact at each stage of investment is important and has special implications for practitioners
About research methods
The author uses a combination of qualitative and quantitative methods to study the nature of the investment impact to develop the infrastructure of the IZ
Trang 11to attract investment in the IZ in a locality The author conducts investigations both inside and outside the IP for impact assessment This more diversified selection will help to study more comprehensively the impact of investment in infrastructure development to attract investment into the IZ during the cycle of investment
Regarding quantitative methods, the authors use OLS, Logistic, and Probit methods to analyze the impact or influencing factors or analyze the statistics describing the data Secondary to draw conclusions the author uses the Binary Logistic regression analysis, the OLS regression to estimate the impact of investment in infrastructure development to attract investment in industrial zones with three criteria: The results of attracting investment into IPs and the level of satisfaction of investors correspond to the stages of attracting investment into IPs The comprehensive use of indicators in the study will give more perspective
on the impact of the entire investment cycle as well as the whole process of attracting investment into the IZ At the same time, T-test co-ordinates to analyze the impact channels of investment in infrastructure development to attract investment into industrial zones Explanation from the practice combined with research gaps decided to select the topic "Impact of investment to develop industrial infrastructure to attract investment in industrial parks in the area Binh Dinh Province "for research This is an independent research project that does not duplicate the name and content of pre-published scientific works
CHAPTER 2:
THEORETICAL BASES ON THE IMPACT OF INVESTMENT IN THE DEVELOPMENT OF INDUSTRIAL ZONE INFRASTRUCTURE
TO ATTRACT INVESTMENT IN INDUSTRIAL ZONES
2.1 To invest in the development of industrial park infrastructure
Infrastructure investment is the mobilization and use of resources to carry out activities to develop the infrastructure system of the industrial park in
a certain period of time, serving investment activities the business of investors and for development purposes The contents of investment in the development
of industrial park infrastructure include:
According to the scope of investment, investment activities to develop the infrastructure of the IZ include investment in infrastructure development inside the fence of the IZ and investment in the development of infrastructure outside the fence of the IZ
According to the nature of the infrastructure system, including the investment in the development of technical infrastructure of the industrial zone and investment in the development of social infrastructure in the industrial zone
According to the contents of investment activities to develop infrastructure of the industrial zone, including investment in development of
Trang 12transport infrastructure, investment in development of water supply and drainage infrastructure, investment in development of infrastructure to invest in the development of infrastructure for information and communication, to invest
in the development of infrastructure for the laborers, to invest in the development of infrastructure public services and other infrastructure development According to the subject of the investment, we can allocate the subject of infrastructure development including two main subjects: public and private
Assessment criteria include the results indicator and the efficiency of investment in the development of industrial zone infrastructure
2.2 Attracting investment in industrial zones
2.2.1 The concept of attracting investment in industrial zones
The thesis uses the concept of attracting investment in the development
of production and business in the industrial zone (referred to as attracting investment into the industrial zone) as follows: "Attracting investment in the industrial zone is a set of actions and policies aimed at increase the attractiveness of industrial parks, stimulate investors to invest in business in industrial zones "
2.2.2 Some tools used in the investment attraction in the Industrial Park:
The author examines the tools: Planning, Planning, Administrative Tools, Economic Instruments, Investment Promotion, other tools
2.2.3 The indicators to evaluate the results and efficiency of attracting investment into industrial parks include indicators for evaluating results and effectiveness
2.3 Impact of investment to develop infrastructure of industrial zones to attract investment in industrial zones
2.3.1 Views on the impact of investment in the development of industrial park infrastructure to attract investment in industrial zones
In this study, the author considers: "The impact of investment in infrastructure development to attract investment in IZs is the effect of the investment in the infrastructure development of the IZ Investing in the IZ is represented by the indicators representing the attraction of investment into the industrial zones "Investment in the development of infrastructure of the IZ creates the infrastructure system of the IZ, the infrastructure system of the IZ will Impact on attracting investment in IZ Accordingly, the author studied the impact of investment in infrastructure development to attract investment in industrial zones in all three phases of investment preparation, implementation investment and operate the investment results with different measurement criteria
Trang 13Figure 2.2: The investment cycle and criteria represent attract investment in
industrial zones 2.3.1 Impacts of investment and development of industrial zone infrastructure to attract investment in industrial zones
Figure 2.3: Impact channels of investment to develop infrastructure of
industrial zones to attract investment in industrial zones
Mechanism of impact of infrastructure development investment is researched through channels including effective business channel, cost channel, competitive channel and risk channel as above
2.4 Experiences on the impact of investment and development of industrial park infrastructure to attract investment in industrial zones around the world and some localities in Vietnam
The study authors from Taiwan and Malaysia and the two localities in Da Nang and Binh Duong have drawn lessons for Binh Dinh province
CHAPTER 3: RESEARCH METHODOLOGY AND RESEARCH
MODEL 3.1 Research Process
The research process is modeled as follows:
Attract investment
in industrial zones
Production efficiency
Cost Competitiveness Risk
Implementation of investment
Operating and investment results
Decision to invest in industrial zone
Results of attracting capital into the industrial
Satisfaction of investors in IPs
Cyclical investment
activities
Criteria represent
investment attraction