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Objectives: This study provides a comprehensive overview of the factors influencing enterprises’ decisions to invest in the Economic Zone. Since then building a model of factors affecting investment decisions in Nghi Son Economic Zone (NSEZ), Vietnam and analyzing the influence of those factors on investment decisions of enterprises. From the research results, the authors will propose a number of recommendations to attract investment in to NSEZ in the coming time. Methods/Approach: The study employs a combination of qualitative and quantitative research methods. The impact of factors on investment decisions of enterprises was tested through structural equation model (SEM), using data collected from a survey of 185 enterprises inside and 160 enterprises outside the NSEZ. Results: The results indicate that all chosen factors positively influence investment decisions of enterprises in the NSEZ. In wich, available advantages of the economic zone and investment incentive policies were found to have the strongest impact on investment choices. Further influencing factors are infrastructure, human resources, and the dynamism of local leadership respectively. Scientific novelty: This study provides policymakers with a deeper understanding of the critical factors that enhance the attractiveness of economic zones. In addition, the study contributes to the broader academic discourse on economic zone development by providing empirical evidence from the Vietnamese context, which can be applicable to other developing economies with similar socio-economic structures. Practical value: Based on the findings, the study proposes some recommendations both for the NSEZ’s project management board and policymaker to attract more enterprises to invest in to the NSEZ. The findings offer practical insights into how the existing infrastructural and policy frameworks can be optimized to better meet the needs of investor.