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INTRODUCTION
1. Urgency of the Research Topic
Investment in infrastructure development of industrial zones (IZ) is one of the 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
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contents 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
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implementing compensation,
attract 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 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
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floor 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
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and 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
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results 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.
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The 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
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of 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
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investment 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
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.
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.
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
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appropriate 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 in investment
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.
to synthesize impact channels of investment the
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 to develop studies 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
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to 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.
investment activities the contents of According to
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 to develop infrastructure of the industrial zone, including investment in development of
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infrastructure public services and other
transport 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 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.
Investment preparation
Implementation of investment
Operating and investment results
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Cyclical investment activities Criteria represent investment attraction
Decision to invest in industrial zone
Satisfaction of investors in IPs
Results of attracting capital into the industrial zone
Figure 2.2: The investment cycle and criteria represent attract investment in industrial zones
Production efficiency
Cost
investment and development of industrial zone
Attract investment in industrial zones
Competitiveness
Investment in infrastructure development of the industrial zone
2.3.1. Impacts of infrastructure to attract investment in industrial zones
Risk Figure 2.3: Impact channels of investment to develop infrastructure of industrial zones to attract investment in industrial zones
impact of infrastructure development investment
Mechanism of 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:
Research issues; Research objectives; Research Questions
Research Overview
Basis Rationale
Primary data
Secondary data
investors the
inside Surveying and outside industrial zones in Binh Dinh Province
the
investment
impact of
Quantitative research results on the impact of investment and development of infrastructure to attract investment industrial park in the industrial zone in Binh Dinh province
Analyzing the actual situation of investment in developing industrial zones, attracting investment into industrial zones, analyzing in developing infrastructure of industrial zones to attract investment in industrial zones in Binh Dinh province
Recommendations and solutions
Investment and development of technical infrastructure
Attracting investment in industrial
Cost of infrastructure use
zones The decision to invest in industrial
zones
Management and support of local government Nguồn nhân lực Human Resources
Features of investors
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Collect data from Management of Economic Zone, Board and Department of Planning Investment, Infrastructure companies and other sources MODEL 1: Model of Impact Assessment of Infrastructure Development Investment to attract investment in the decisive aspect of investing in industrial zones Investment in development of social infrastructure Advantages of the investment sector Policies to attract investment MODEL 2: Model of impact assessment of investment in infrastructure development of industrial zones to attract investment into industrial zones in terms of attracting investment into industrial zones and the level of satisfaction of investors in IPs.
Investment and development of technical infrastructure in industrial zones
Investment in social infrastructure development of the industrial zone Investment policy
Attracting investment in industrial zones Investment decisions, results of attracting,
Satisfaction level
Management and support of local government Nguồn nhân lực Human Resources
Advantages of the investment sector
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Features of investors
Cost of infrastructure use
Convenient transportation infrastructure Power supply system is stable
The system of green trees is well invested Favorable communication
3.2.1. The variables of the model and how to measure 3.2.1.1. Control variable: the author uses the characteristics of the investor is the size of labor and area of land rent with the sample model is the investor inside the industrial park and the scale of investment capital, the scale of labor and the area rented by the model with the model of investors inside and outside the IP. 3.2.1.2. The independent variables: The independent variables and statistical criteria were statistically summed as follows Table 3.1: Criteria for measuring factors for investment in development of technical infrastructure and investment in social infrastructure development
SCALE SIGN Investment in developing the technical infrastructure in industrial zones HTKT HTKT1 1 HTKT2 2 HTKT3 3 Water supply and drainage system is stable HTKT4 4 HTKT5 5 HTKT6 6 Waste treatment systems are well invested HTXH Investment in social infrastructure development of the industrial zone HTXH1 1 HTXH2 2 HTXH3 3
Cafeteria systems for employees are well invested Investment infrastructure meets demand The school system meets the educational needs of the children of employees and investors The entertainment system satisfies the demand
4 Human Resources
Labor quality meets the requirements of the investor Labor resources abundant Highly disciplined labor Ability to acquire and apply technology of good labor Easily recruit good local managers
HTXH4 NNL NNL1 NNL2 NNL3 NNL4 NNL5
The cost of cheap labor
Local investment incentive policies are reasonable Legal documents are quickly deployed to investors Clear tax system Simple, quick administrative procedures
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SCALE Investment policy Management and support of local government
SIGN NNL6 CSDT CSDT1 CSDT2 CSDT3 CSDT4 CQĐP CQĐP1 CQĐP2 CQĐP3
Local leaders are available to assist investors Local authorities have good support mechanisms for investors The questions and reflections of the business are always answered satisfactorily Qualifications, skills and attitudes of good managers
Advantages of the investment sector Easy access to the inputs Supporting industries Favorable market Favorable geographical location Cost of infrastructure use
The price of communication services is reasonable Electricity price, water price, reasonable freight Reasonable rent Waste disposal costs reasonable
CQĐP4 LTĐT LTĐT1 LTĐT2 LTĐT3 LTĐT4 CPHT CPHT1 CPHT2 CPHT3 CPHT4
Source: Compiled by author
3.2.1.3. The dependent variable Table 3.7: The measurement criteria to attract investment in industrial zones SCALE ATTRACTING INVESTMENTS IN IZ Decision to invest in industrial zone No investment in IPs Invest in IPs Results of investment attraction in IZ Total investment made Satisfaction of investors in IPs The industrial park meets my expectations I am satisfied with the investment infrastructure of the IP I will continue to invest in local industrial zones I will introduce this local IP to other investors Overall, I feel satisfied when investing in the IP
SIGN QD 0 1 KQ VTH MHL MHL1 MHL2 MHL3 MHL4 MHL5
Source: Compiled by author
3.2.2. Research hypothesis
Hypothesis 1 (H1): Investment in developing the technical infrastructure
has a positive impact on the decision to invest in industrial zones
Hypothesis 2 (H2): Social investment has a positive effect on the
decision to invest in the IZ
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Hypothesis 5 (H5): Investment in developing the technical infrastructure
IPs has positive impact to the satisfaction of investors
Hypothesis 6 (H6): Investment in development of social infrastructure
IPs has positive impact to the satisfaction of investors:
Hypothesis 3 (H3): Investment in developing the technical infrastructure
IPs has positive impact to attract investment results in IZ
Hypothesis 4 (H4): Investment in development of social infrastructure in
industrial zones has a positive impact to attract investment results in IZ
3.3. Data collection methods
Both methods of collecting secondary data source, the source of primary
data through surveys, surveys, expert interviews, statistics, etc…
3.4. Statistical Data Analysis
Method of statistical analysis description, method of synthesis, analysis, comparative surveys, interviewing experts, methods of factor analysis to discover (EFA), the method of regression analysis Multivariate T-Test Method CHAPTER 4: THE IMPACT OF INVESTMENT INVESTMENT IN INFRASTRUCTURE DEVELOPMENT OF INDUSTRIAL ZONES TO ATTRACT INVESTMENT IN INDUSTRIAL ZONES IN BINH DINH PROVINCE 4.1. Situation of investment in infrastructure development of industrial zones in Binh Dinh province 4.1.1. Overview of industrial zones in Binh Dinh Province Currently, Binh Dinh province has formed 8 IPs as follows:
Table 4.1: The Industrial Zone in Binh Dinh province
Industrial park
Area (ha)
Area of industrial land for lease (ha)
Area of IP has rented (ha)
Phu Tai Long An Nhon Hoa stage 1 Binh Nghi Hoa Hoi Cat Trinh
345,8 117,7 154,4 228 265 368,1
246 100,4 147 148,4 185,5 232,63
221,8 80,4 143 - - -
Source: Compiled from reports of Management Board of Binh Dinh's Economic Zone 4.1.2. Capital and investment capital for infrastructure development of industrial parks in Binh Dinh province
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Policies on investment capital, methods of raising capital for investment in
development of industrial zones are diverse, from many channels and open. However, until now investment capital for development of industrial zones in the province to mobilize only from 2 main sources: budget (central and local) and funding of infrastructure investment. In the period of 2011-2015, the investment capital for infrastructure development in industrial parks in Binh Dinh province has experienced fluctuations over the years both in terms of registered capital and implemented capital with specific figures below.
Table 4.2: Investment capital for development of infrastructure in accumulative industrial zones in the period of 2010 - 2015 Unit: million VND
2013 2014 2015
27.41 32.21 2012 1093.9 1515.6 1515.3 1515.3 299.84 452.36 488.14 507.96 33.52 28.53
2011 2010 1397.4 956.5 231.961 272.9 28.53 16.59
Subscription Current Capital Current capital / Register (%) Source: Compiled from reports of Management Board of Binh Dinh Economic Zone 4.1.3. Contents of investment to develop infrastructure of industrial zones in Binh Dinh province Including the contents of investment in development of transport infrastructure of the IZ, investment in the development of energy infrastructure, investment in the development of water supply and drainage infrastructure, investment in the development of environmental infrastructure, investment in the development of information and communication infrastructure, investment in development of housing infrastructure for laborers, investment in development of public infrastructure and services 4.1.4. A number of assessments on investment in developing infrastructure systems in industrial parks in Binh Dinh Including some parameters evaluated on the results and performance of investment activities in infrastructure development of industrial zones in Binh Dinh province in 2015 and evaluation of the investors surveyed. 4.2. Current situation of attracting investment in the industrial park in Binh Dinh province 4.2.1. Some tools to attract investment in the industrial park in the province of Binh Dinh: The tools include: planning, investment promotion, administrative tools and economic instruments and other tools 4.2.2. Results of investment attraction in industrial zones in Binh Dinh province
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Standard
Table 4.14: Scale of investment capital in Binh Dinh Industrial Zones Unit: VND billion
2010
2011
2012
2013
2014
2015
Current Capital
1.982,49 2.455
2.995
4.651,37 5.560,37 6.846
Subscription
4.595,33 5.733,73 6.775,14 28.504
29.210,9 30.333
Vốn / Vốn đăng ký (%)
43,14
42,81
42,2
16,31
19,0
22,56
Source: Compiled from the reports of the Economic Zone Management Board
of Binh Dinh Province
Along with the formation and development of industrial zones,
investment capital attracted to industrial zones in Binh Dinh province has
increased continuously in recent years. There are also results drawn by capital
and investment partners
4.2.3. Analysis of factors influencing investment attraction in industrial
zones in Binh Dinh province
To analyze the qualitative factors that impact on attracting investment in
the industrial park based on statistical authors describe the appreciation of
investors inside and outside IPs IPs on these factors. Simultaneously, the author
combines analytical reviews, comments of experts to make conclusions. At the
same time the authors also compared the difference between the rating of the
investors inside and outside Industrial Zone Industrial Park on the factors
affecting the attraction of investment in industrial zones.
4.3. Impact of investment to develop infrastructure of industrial zones to
attract investment in industrial zones in Binh Dinh province.
4.3.1. Impact of investment to develop infrastructure of industrial zones to
attract investment in industrial zones in Binh Dinh province by attracting
The author studies the impact of investment in infrastructure
development to attract investment in IZs based on the results attracted in the
province of Binh Dinh on three aspects: Comparing and analyzing the scale of
investment capital to develop the infrastructure of the industrial zone and
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investment capital attracted to the industrial zones operating in the area;
Examining the difference in registered capital of internal secondary investors
and outside IP investors; Testing the difference invested implementation of
secondary investors inside and outside investors IZ
4.3.2. The impact of investment in infrastructure development of the IZ
contributes to increase the efficiency of production and business activities of
investors.
Using the infrastructure system of the IP together with the advantages of
the IP has helped businesses improve their production efficiency. To evaluate
this impact authors offer some analysis and comparison of the results of
production activities of the enterprise business in the industrial park along with
their comments on the impact of this. These data have proved to be somewhat
effective results and business production of active investors in industrial zones
in Binh Dinh province. We also see the positive impact of operational
infrastructure IPs to produce business results of enterprises through business
indicators and comparisons with the local.
4.3.3. Investment in infrastructure development of the industrial zone
contributes to reducing the production and business costs for investors
As well as numerous studies have demonstrated the theoretical analysis
of the role of investment in developing infrastructure in production costs IPs to
business investors
Illustration based on the analysis of the following: Comparing the cost of
using the infrastructure inside and outside the industrial zone in Binh Dinh
province, Comparing the difference in the cost of infrastructure use by
investors inside and outside IPs through accreditation T - test, Comparing some
other costs when investing inside and outside industrial zones, Evaluation of
investors in the industrial park on the cost of infrastructure in industrial zones
4.3.4. Investment in infrastructure development of industrial parks
contributes to increase the competitiveness of enterprises in industrial parks
21
Figure 4.5: Investor's assessment of the impact of industrial park infrastructure investment on the competitive advantage of investors
Unit: %
4.3.5. Investmenting in the infrastructure development contributes to reduce the risk for investors
Based on the information below, we can see some issues of risk mitigation if investors use the infrastructure system in the industrial zones and enjoy the rules, policies, security assurance Also, avoid policy risks, there is no guarantee of investment in infrastructure and management agencies, ...
4.4. Evaluating the impact of investment in the development of industrial park infrastructure to attract investment in industrial zones in Binh Dinh province. 4.4.1. Estimating the impact of investment in infrastructure development of industrial zones to the decision to invest in industrial parks
Logistic regression performed with variable QD under 8 independent
variables and control variables on 3 obtained regression results table below: Table 4 .32: Results of Logistic regression model
DTT
0,016
0,026
0,380
1
0,538
1,016
LD
0,002
0,002
1,039
1
0,308
1,002
VTH
0,050
0,016
9,381
1
0,002
1,051
DTHTKT
2.233
0,383
34,024
1
0,000
9,328
NNLA
-0,018
0,313
0,003
1
0,953
0,982
NNLB
-0,250
0,339
0,545
1
0,460
0,779
Variables in the Equation B S.E. Wald df Exp(B) Sig.
CSDT
-0,359
0,259
1,915
1
0,166
0,699
CPHT
1,176
0,243
23,332
1
0,000
3,240
CQDP
-0,576
0,225
6,581
1
0,010
0,562
LTDT
-0,323
0,371
0,758
1
0,384
0,724
DTHTXH
-0,398
0,354
1,262
1
0,261
0,672
Step 1a
Constant
-6,420
2,391
7,212
1
0,007
0,002
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X= β0 + β1 DTT + β2 LD + β3 VTH + β4DTHTKT + β5 NNLA + β6 NNLB +
investment technical in
β7CSDT+ β8CPHT + β9CQDP + β10LTDT + β11DTHTXH +e (*) Based on the significance level (Sig.) Of the Wald test, four independent variables were introduced into the Sig model. < 0.05. These independent variables are statistically significant at the 5% level. In other words, the variables: capital performance, infrastructure development, cost of infrastructure use, management and support of local authorities is influencing the decision to invest in IPs. According to the results we have seen, investment in developing the technical infrastructure has a positive impact on the investment decisions of investors as expected by the author with the hypothesis H1. However, investment in the development of social infrastructure is not significant for the investment decision in the IPs of investors. Thus, the H2 hypothesis is not satisfied. 4.4.2. Estimating the impact of investment in the development of industrial park infrastructure to the results of attracting investment in industrial parks and the level of satisfaction of investors in industrial zones. The results of the regression analysis are as follows:
Table 4 .37: Regression results with dependent variable are investment capital Model
Sig. VIF t
Standardized Coefficients
Std. Error Beta
(Constant) DTT LD NNLA NNLB CSDT LTDT CPHT CQDP HTXH HTKT
,224 ,213 ,095 ,117 ,466 ,070 ,088 -,003 ,027 ,119
-4,203 3,456 3,405 1,355 1,708 6,892 1,071 1,405 -,047 ,407 1,852
,000 ,001 ,001 ,178 ,090 ,000 ,286 ,162 ,963 ,685 ,066
1
1,112 1,043 1,301 1,249 1,218 1,133 1,055 1,107 1,134 1.096
Unstandardized Coefficients B -79,042 18,806 ,154 ,045 ,030 ,009 3,070 2,266 2,255 3,852 13,461 1,953 2,960 3,171 1,702 2,392 2,411 -,113 2,707 1,101 2,400 4,445 a. Dependent Variable: VTH
Source: Compiled from the results of the research
General regression models were estimated as follows:
VTH = β0 + β1DTT + β2LD + β3 NNLA + β4NNLB + β5CSDT + β6LTDT + β7CPHT + β8CQDP+ β9HTXH+ β10HTKT + ei
Variable investment and development technical infrastructure IPs with β10 = 4.4445 represents investment in developing the technical infrastructure to
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positively impact investment results. This means that the H3 hypothesis is satisfied with the meaning that when the investor evaluates the investment in the development of technical infrastructure of the IZ by 1 unit, the investment
Variable investment in developing social infrastructure IPs have no meaning in the model so theoretical H4 is not satisfied.Using the results of the preliminary evaluation of the scale, we also have 8 independent variables and 2 control variables for inclusion in the regression analysis model with the dependent variable is the satisfaction level of the investor (MHL) . General regression models were estimated as follows: MHL = β0 + β1DTT + β2LD + β3 NNLA + β4NNLB + β5CSDT + β6LTDT + β7CPHT + β8CQDP + β9HTXH + β10HTKT + ei
According investment in to the regression results,
Unstandardized
Standardized
VIF
Sig.
t
Coefficients
Coefficients
B
Std. Error
Beta
(Constant)
,930
2,213
DTT
-,001
,420 ,001
-,615
-,043
,028 ,540
1,112
LD
,000
,000
-,853
-,058
,395
1,043
NNLA
-,052
,051
-1,036
-,079
,302
1,301
NNLB
,037
,050
,737
,055
,463
1,249
1
CSDT
,008
,044
,177
,013
,860
1,218
LTDT
,164
,066
2,478
,177
,014
1,133
CPHT
,029
,038
,766
,053
,445
1,055
CQDP
,111
,054
2,066
,146
,041
1,107
HTXH
,306
,060
5,065
,361
,000
1,134
HTKT
,182
,054
3,398
,238
,001
1,096
infrastructure development of industrial zones has a positive impact to the satisfaction of investors. The investment in technical infrastructure development with β = 0.182 demonstrates the investment in technical infrastructure development that is conducive to the level of satisfaction of investors. It means that when the investor evaluates the investment in the development of technical infrastructure of an industrial zone increases by 1 unit, the satisfaction level increases by 0.183 units with the reliability = 0.1. Model
a. Dependent Variable: MHL
Source: Compiled from the results of the research 4.5. General assessment of the impact of investment and development of industrial zone infrastructure to attract investment in industrial zones in Binh Dinh province. 4.5.1. Positive aspects
24
positive impact on the decision to invest in the IZ, the results of investment attraction and the level of satisfaction of investors.
impact on the level of satisfaction of investors in the industrial zone.
efficiency of production and business of investors
costs
competitive advantage
ture development of the IZ contributes to reducing
costs 4.5.2. Existence and Causes Surface exists Investment activity in infrastructure development IZ no synchronization between technical infrastructure and social infrastructure, the infrastructure between the inside and outside industrial zones. The issue of mobilizing resources and attracting qualified infrastructure investors to invest in the development of IP infrastructure remains a problem for the Binh Dinh authorities. The industries attracting investment in industrial zones in Binh Dinh also overlap, attracting policies are not synchronous, lack of cohesion. Attracted to the industrial zones in the province of Binh Dinh period 2010 - 2015 mainly investors in the country with the majority of the enterprises of small and medium-scale investment is not large, use the medium technology. Investors who decide to invest in IPs face many administrative procedures with thus causing investors and state management agencies, infrastructure difficulties for investors. Infrastructure investors have not promoted the connection between secondary and state investors and have not provided good support to investors in administrative procedures. Investment promotion activities in the IP are rather faint, the promotion of environmental investment in Binh Dinh IP is limited. Lack of cohesion, mutual cooperation between the industrial zones, enterprises in industrial zones in the province and linking development with other localities in the region in investment activities developed infrastructure industrial zones and attract investment in industrial zones.
Cause of the shortcomings The quality of planning for IP development is not good The capacity of some infrastructure investors is limited.
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Central and local budgets for investment in infrastructure development of IPs are still limited. Mechanisms and policies to mobilize investment capital are not diversified.
The investment in the development of infrastructure outside industrial zone planning depends on local development, so sometimes no synchronization between the investment and development of infrastructure inside and outside the industrial park.
Policies to attract investment by local inconsistent The policy of encouraging investment in building houses and social works for employees is not attractive enough for infrastructure investors to welcome the Party to this issue.
Investors focus on infrastructure investment in developing technical infrastructure that has not focused on social infrastructures. Besides, the agency has not managed closely in the planning and implementation of the investment plan for the implementation of infrastructure investment in developing social infrastructure serving employees.
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. 5.1. Oriented investment activity in infrastructure development of industrial zones and attract investment into the industrial park 5.2. Some solutions for investment in infrastructure development of industrial zones to promote investment in industrial zones in the province of Binh Dinh 5.2.1. Group of solution for management agencies of industrial zones in the province of Binh Dinh
(1) To improve and enhance the quality of the planning development of industrial parks and the detailed planning of investment in infrastructure development of industrial zones.
(2) Solutions to expand capital flow and create motivation for investment
in development of industrial zone infrastructure
(3) Solutions to increase attracting foreign investors to invest in
infrastructure development in industrial zones.
(4) Solutions for support and management of development investment,
management and operation of industrial zone infrastructure.
(5) Solutions to attract investment in production and business investment
in industrial zones 5.2.2. Some solutions for investors to develop industrial infrastructure in Binh Dinh province
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(1) solution for investment in developing technical infrastructure of industrial zones. (2) Solutions for investment in developing social infrastructure in industrial zones. (3) Solutions on strict management of the operation process in order to maximize the service capacity of the industrial park infrastructure system. 5.2.3. A number of coordinated solutions between infrastructure investors and IZ authorities
(1) Cordination solution between infrastructure investment and industrial zone management agencies to promote the impact of investment and development of infrastructure to the industrial park in the industrial zone investment decisions of investors.
(2) Cordination solution between infrastructure investment and industrial zone management agencies to promote investment impacts of infrastructure development result IPs attracted to IPs
(3) Cordination solution between infrastructure investment and industrial zone management agencies to promote the impact of investment and development of infrastructure IPs to the level of satisfaction of investors in industrial zones
CONCLUSION The impact of investment and development of infrastructure to attract investment in industrial zones in IZ get the attention of policy makers and researchers at home and abroad. From the overview of previous research at home and abroad related to the topic, the author has made analysis and synthesis to find the research gap to do PhD thesis.
Inheriting the previous study, the authors systematically ideological issues related to investment and development infrastructure in industrial zones to attract investment into the industrial zone and the impact of investment and development of infrastructure IPs to collection investment in IPs from which to build research framework for the subject. The author also studied the lessons of investment in infrastructure development in the IP so as to enhance investment attraction in Taiwan and Malaysia's industrial zones and two localities in Da Nang and Binh Duong and to draw lessons for Binh Dinh province.
Based on the research framework authors have built models of the thesis research to assess the impact channels and level of impact of investment in developing infrastructure to attract investment in industrial parks in the industrial park. The author collected primary data from internal investor surveys, outside IPs and secondary data for research purposes. The author uses both qualitative and quantitative methods in the study as Based on the research framework authors have built models of the thesis research to assess the impact channels and level of impact of investment in developing infrastructure to attract investment in industrial parks in the industrial park. The author collected
27
primary data from internal investor surveys, outside IPs and secondary data for research purposes. The author uses both qualitative and quantitative methods in the study as descriptive statistics; analyze, compare and contrast; explore factor analysis, multiple regression, T-test inspection.; analyze, compare and contrast; explore factor analysis, multiple regression, T-test inspection.
From the data collected from the industrial zones in Binh Dinh province, the author has analyzed the actual situation of investment in infrastructure development of industrial zones, attracting investment in industrial zones in Binh Dinh province. Based on practical data analysis authors channels the impact and extent of the impact of investment and development of infrastructure to attract investment in industrial parks in the industrial park.Research results show that investment in infrastructure development positively affects business efficiency, contributing to reduce risks for investors, increasing competitiveness and cost savings for investors. private
The estimation results also show that investment in the development of infrastructure and technical IZ positive effects to attract investment in industrial zones in all three aspects: the decision to invest in the Industrial Zone, the results attract and satisfaction of investors in industrial zones. However, investment in the development of social infrastructure no statistical significance in the research model.Research results show that investment in infrastructure development positively affects business efficiency, contributing to reduce risks for investors, increasing competitiveness and cost savings for investors. private The estimation results also show that investment in the development of infrastructure and technical IZ positive effects to attract investment in industrial zones in all three aspects: the decision to invest in the Industrial Zone, the results attract and satisfaction of investors in industrial zones. However, investment in the development of social infrastructure no statistical significance in the research model.
Based on the results of analysis and evaluation from the reality, the author proposed solutions for investment in infrastructure development of the industrial zone in order to attract more investment in industrial zones in Binh Dinh province. Infrastructure investors and management agencies in the locality related to issues such as planning, policies to attract investment, investment in developing infrastructure of industrial zones, mobilizing investment capital to develop structures infrastructure of the industrial zone, ...At the same time the author also proposes some measures additional to the coordination of the management body and the IZ infrastructure investment to boost the effects of investment in developing infrastructure to attract investment in industrial zones on aspects: investment decisions, results attract and satisfaction of investors in industrial zones.
