Description:
Foreign Direct Investment (FDI) plays a critical role in driving economic growth and development, particularly in countries like Vietnam. This study proposes a hybrid model that integrates Fuzzy-Delphi, Fuzzy-DEMATEL, and DANP methods to identify and prioritize the main factors affecting FDI attraction and open innovation in Vietnam. The proposed approach offers a more comprehensive analysis that accounts for the inherent complexities and uncertainties of the FDI decision-making process and its impact on open innovation. By exploring the network and interrelationships between the factors, the study provides a more nuanced understanding of the determinants of FDI attraction, open innovation, and their impact on other factors. The study's results are expected to reveal the critical factors affecting FDI attraction and open innovation in Vietnam and their relative importance, serving as a basis for policymakers to design effective strategies for attracting FDI and promoting open innovation. This can be particularly crucial for developing countries seeking to leverage FDI to drive economic growth and innovation. Additionally, the proposed methodology has the potential to contribute significantly to the literature on FDI attraction and open innovation and provide a valuable framework for future research.