This chapter presents three cases of foreign investors in Vietnam. All established joint ventures, yet their roles in them vary considerably. The Danish Carlsberg Breweries established an early foothold in the Vietnamese market in 1993 via its Thai affiliate, with a conventional joint venture structure. The joint venture has been operating fairly successfully, and extensive training of staff improved the productivity of both the joint venture and other operations of the local partner. The Swedish engineering giant ABB accessed the local markets by establishing a joint venture that effectively took over an existing local firm. Hence, ABB had to take responsibility for restructuring and technological upgrading of the company. The leading Japanese motorcycle brand, Honda, moved from imports to local production in a joint venture with a largely passive state-owned enterprise. The new operation built a local supplier network, with potentially considerable spillover effects, yet not involving its local joint venture partner.
In: Investment Strategies in Emerging Markets by K. E. Meyer and S. Estrin, Edward Elgar Publishing Ltd, pp. 276-306