For comments on previous versions of this article, we thank Greg Distelhorst, Jie Gong, Helen Milner, Irfan Nooruddin, Ivan Png, Ryan Weldzius, and participants in the Politics of Multinational Firms conference (Princeton University, September 2016), the 2016 International Political Economy Society meetings, the 2017 meetings of the International Studies Association, and a joint seminar of the National University of Singapore Business School and Global Productions Networks Center (October 2017). The article also benefited substantially from the comments of three anonymous reviewers. VCCI and US‐AID generously agreed to allow PCI‐FDI data to be used in this manuscript. Malesky is a paid consultant to the Vietnam Chamber of Commerce and Industry for the creation of the annual US‐AID‐funded Provincial Competitiveness Index. Malesky and Mosley both received funding from the International Labour Organization to design and analyze the labor module of the PCI‐FDI questionnaire, where the survey experiment was embedded.