In order to improve Vietnamese economy and increase Vietnam's status compared to other countries, Vietnam has established many kinds of economic zones and industrial parks. However, these kinds of zones and parks cannot maintain attracting the number of foreign investors and the volume of inflow foreign direct investment. So, in 2017, Vietnamese government decided to establish a new kind of special zone: special administrative - economic units. There are three economics zones that were selected become special administrative - economic units, namely Van Don (Quang Ninh province), Bac Van Phong (Khanh Hoa province) and Phu Quoc (Kien Giang province).
Establishment of the first three special administrative - economic units is evaluated as an economic gamble to Vietnamese government. Many questions are raised regarding to set up, monitor, operate effectively these special units, and how to attract foreign investment. If the Vietnamese government fails in this gamble, many troubles will come to Vietnam, such as increased public debt, decreased national budget, and national security.
Therefore, this dissertation will research, analyze special economic zone laws in South Korea and China, and study the methods that was used in current special economic zones in South Korea and China to establish, operate and gain achievements. Generally, South Korean and Chinese governments selected and applied policies to remote areas with underdeveloped economics into modern, developed zones, such as Shenzhen Special Economic Zone in China, and Incheon Free Economic Zone in South Korea. Through their success, I could learn many lessons, and suggest proposal to the Vietnamese government.
Moreover, Vietnamese companies have invested to other countries in many aspects, such as telecommunication, mining, oil and gas. In addition to "sweet fruits" earned in overseas investment, Vietnamese companies have also lost in many projects that adversely affect the national budget. Thus, Vietnamese investors shall prepare well in investing in to future special administrative - economic units and other countries. As investment is fierce, the preparation and learning lessons from other investors may help them to minimize and avoid damages. This dissertation also researches opportunities and challenges for foreign investors in South Korea and China to gain lessons for investment into Vietnam.