The relationship among foreign direct investment, trade openness, and economic growth in vietnam from 1991 to 2023

To analyze the impact of FDI and TO on economic growth in Vietnam, the research team collected yearly data from 1991--2023 from the Vietnam General Statistics Office on the IFS-IMF and WB sites. The study used the VECM model with the following endogenous variables: foreign direct investment (FDI), trade openness (TO), real gross domestic product (GDPR), and the interest rate of the U.S. Federal Reserve (IFED). Research results have shown that maintaining economic growth over the years drives economic growth. Moreover, the research supports the view that foreign direct investment and trade openness play important roles in promoting economic growth (g) in Vietnam. The authors propose some recommendations for attracting and using FDI and increasing trade openness to encourage economic growth in Vietnam.