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The thesis provides an analysis of the influencing factors of Vietnam’s outward foreign direct investment in other ASEAN members.Vietnam was formerly known as the recipient of foreign direct investment.Vietnam has boldly invested in other countries recently,gaining significant achievements.This thesis investigates the situation of Vietnam’s outward foreign direct investment in ASEAN countries over the period 2002-2017.In particular,the thesis intends to analyze the influencing factors of Vietnam’s outflow investment for the period in each ASEAN member.The major findings reveal that Vietnamese enterprises’ foreign investment are largely dependent on state capital,and that the project number is limited and has not been highly effective due to elements from both the home government of Vietnam and the host countries.Furthermore,the thesis has applied the Investment Development Path model to assess the impact of some macro factors on the Vietnam outflow investment propose policy implications.The main findings point out that the proportion of expenditure on science and technology over state expenditure and the inflow of direct investment will contribute to increase Vietnam’s outward direct investment(spillover effect of foreign direct investment).Meanwhile,the impact of GDP per capital growth on the amount of outward capital is unclear.Finally,suggestions have been proposed to increase Vietnam’s opportunities to invest in different countries,which is essential the government’s strategic initiative to diversify its economy and minimize its dependence on natural resources.