The paper investigates the determinants of foreign direct investment (FDI) in Vietnam in 2000-2019 period. This study uses difference Generalized Methods of Moments (GMM) and Pooled Mean Group (PMG) to analyse panel data officially provided by General Statistical Office of Vietnam. The results show that market size impacts positively significant on FDI attraction: 1% -1.45% (PMG) and 1% -1.25% (GMM). Besides, some other factors have positive influences as labor force, macroeconomic policy, macroeconomic stability and skilled labor. Meantime, the trade openness negatively affects FDI inflows in the short-term, while not being statistically significant in the long-term. Moreover, economic shocks often have a negative impact on FDI inflows. The findings of this study lead to the following recommendations. First, authorities should pay special attention to encourage economic growth rate in Vietnam to expand market size because this is the first priority of foreign investors. Second, authorities need to continue increasing the rate of skilled labor, especially highly qualified management force, engineers and well-skilled workers. Third, the authorities should adjust trade openness to boost the role of its determinant in attracting FDI inflows. Fourth, macroeconomic stability needs to be governed by international standards in order to secure the belief of foreign investors in the long-term.

Abstract
1. Introduction
2. Literature Review
3. Variables, Model and Methodology
    3.1. Variables and Data
    3.2. Model
    3.3. Methodology
4. Empirical Results
    4.1. Unit Root Tests
    4.2. Regression Results
    4.3. Residuals Test
    4.4. Long-term Regression by PMG Method
5. Findings and Discussion
6. Conclusion and Implications
References

• Minh Ngoc NGO(Faculty of Business Administration, Industrial University of Hochiminh City) Corresponding Author.
• Huy Hoang CAO(Faculty of Business Administration, Industrial University of Hochiminh City)
• Long Ngoc NGUYEN(Vice Dean, Faculty of Business Administration, Industrial University of Hochiminh City)
• Thuc Ngoc NGUYEN(Scholar, Head of Division, Faculty of Business Administration, Industrial University of Hochiminh City)