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Abstract: Similar to the previous researches, this study confirms the positive relationship between innovation capabilities and efficiency of a company by measuring and evaluating the experimental data from 52 foreign invested enterprises inVietnam (FIEs). The study provides insight into different aspects related innovation of FIEs such as: types of innovation, frequency of innovation implementation, methods of innovation investment. Results of the analysis of primary data by the linear regression method show the relatively small differences in the impacts of 7 groups of capabilities on efficiency of the company, even though the development capabilities still have made greatest influence with the coefficient of 0.453. The findings of this research once again stress that innovation and innovation capabilities of the company is the decisive element of primary efficiency.Keywords: Foreign invested enterprises, Innovation, Innovation Capabilities.