Vietnam Shifts Toward Selective, High-Quality FDI Strategy: Deputy PM Nguyễn Văn Thắng

Hanoi, The Gulf Observer: Nguyễn Văn Thắng has announced that Việtnam is entering a new phase of foreign direct investment (FDI) policy, shifting from mass attraction of capital toward a more selective, quality-oriented and sustainability-driven investment strategy aimed at strengthening long-term economic growth and innovation.

Speaking at a forum held in Hànội on Wednesday, Deputy PM Thắng said the Vietnamese Government is prioritising investment projects that deliver high technology, innovation, added value, environmental protection and stronger linkages with domestic enterprises.

The forum, jointly organised by the Institute for Policy and Strategy Studies, the Vietnam Association of Small and Medium Enterprises, and the Association of Foreign Invested Enterprises, brought together more than 300 policymakers, investors, business leaders and experts to discuss enhancing cooperation between the FDI sector and the domestic private sector for sustainable development.

Deputy PM Thắng noted that the global economy is witnessing rapid and unpredictable transformations driven by strategic competition among major powers, supply chain restructuring, digital transformation, green transition, artificial intelligence and semiconductor technologies. He said these developments present both opportunities and challenges for Việtnam as it seeks to strengthen its role in regional and global value chains.

Highlighting the contribution of foreign investment to the national economy, he stated that Việt Nam currently hosts more than 46,500 valid FDI projects with total registered capital exceeding US$543 billion, while disbursed capital has reached approximately US$357.6 billion. The FDI sector contributes over 20 percent of the country’s GDP, accounts for nearly 70 percent of total export turnover, and generates employment for millions of workers.

According to the Deputy Prime Minister, Việt Nam continues to rank among ASEAN’s leading destinations for foreign investment despite a slowdown in global investment flows. He added that the country has increasingly attracted major international corporations in sectors including electronics, semiconductors, high technology, energy, logistics, finance, innovation and modern services, helping establish new production ecosystems and supply chains.

However, he acknowledged ongoing challenges such as weak linkages between foreign-invested firms and local enterprises, low localisation rates in certain industries, and limited participation of Vietnamese companies in global supply chains.

To address these issues, the Government will continue improving institutions, enhancing the business environment and shifting from a management-oriented to a service-oriented governance model. Authorities will also focus on strengthening domestic enterprises, developing supporting industries, upgrading infrastructure and training high-quality human resources to attract next-generation FDI.

Deputy PM Thắng stressed that Việt Nam will maintain effective state oversight of the FDI sector while ensuring economic independence, national security and sustainable development. He said the Government would continue facilitating lawful and efficient operations for investors while strictly addressing violations including transfer pricing, trade fraud, environmental breaches and intellectual property infringements.

Reaffirming Việt Nam’s ambition to become a high-income developed country by 2045, he emphasised the need for a new growth model driven by innovation, technology, skilled human resources and stronger cooperation between economic sectors.

He also called on foreign investors to consider Việt Nam not only as an investment destination but also as a strategic partner in global value chains, while encouraging domestic enterprises to improve governance, technological capacity and international cooperation to deepen integration into global production and supply networks.

Delegates at the forum discussed opportunities to attract next-generation FDI and enhance its spillover effects on the domestic economy through technology transfer, higher localisation rates and greater participation of Vietnamese firms in global value chains.