베트남과 미국의 외국인투자 규제 방식에 관한 일고찰

The purpose of this paper is to review the legal structures that aim to regulate foreign investment in Vietnam and the U.S. Vietnam and the U.S. have different historical and political backgrounds regarding the regulation on foreign investment. For instance, after establishing the Socialist Republic in 1976, Vietnam sought an economic system that was independent of the international society. However, to overcome the serious economic depression that continued after the war, Vietnam began to open its market to foreign investment in 1986. Thereafter, Vietnam has been gradually opening its market. In contrast, the U.S. has been traditionally amicable towards foreign investment. However, as the investment from Japan increased in the 1980s, the U.S. began to regulate foreign investment based on national security concerns. The regulation has been reinforced as the investment from China increased in the 2000s. The two countries’ legal structures on foreign investment regulation were established under such different backgrounds, and thus show strong differences. Vietnam basically regulates foreign investment by applying stricter conditions to foreign investors in certain sectors. It also seems that Vietnam could regulate foreign investment in practice in the conditional sectors which apply to both domestic and foreign investors, as well as investments requiring investment policy decisions from high-level state organizations. In contrast, except in certain limited sectors, the U.S. regulates foreign investment based on national security. However, because the definition of national defense is unclear and the scope has been extended, various sectors are regulating foreign investment at present. The discretion of relevant government organizations may considerably influence the regulation on foreign investment in both the U.S. and Vietnam. The legal structures of Vietnam and the U.S. effectively represent the general positions of developing countries and developed countries, respectively. Vietnam is currently regulating foreign investment in more sectors, and the investment procedure is comparatively unclear. It is expected that Vietnam will enjoy more benefits in the future from economic liberalization by reducing the number of such sectors and improving the relevant procedures.