Vietnam has emerged as one of the most attractive emerging market destinations for foreign direct investment (FDI) over the past decades. Foreign investors have contributed significantly to the country’s economic development since the early stages of the economic reform and transition process that was launched in the late 1980s, and the importance of FDI has grown since 2007, when the country joined the World Trade Organization (WTO). FDI inflows jumped from US$4.1 billion in 2006 to more than US$8 1 billion in 2007 and averaged over US$18 billion per year in 2015–21.