The resolution acknowledged shortcomings in the quality, efficiency and management of FDI inflows, which do not fully match Vietnam’s potential or meet the demands of a new growth model focused on science and technology, innovation, digital transformation, green transition and greater strategic autonomy.
A recent politburo resolution in Vietnam has outlined a strategic restructuring to attract FDI, indicating a shift from broad-based attraction to selective engagement aimed at enhancing national competitiveness and development capacity.
Quality, efficiency, technology transfer, participation in supply chains and value creation are identified as the primary criteria for evaluating investment projects.
Quality, efficiency, technology transfer, participation in supply chains and value creation are identified as the primary criteria for evaluating investment projects.
It requires foreign-invested economic development to be integrated into the country’s broader development strategy.
The resolution identifies a range of strategic sectors for investment priority. These include electronics, semiconductor chips and digital equipment; artificial intelligence, big data, cloud computing, the Internet of Things and blockchain; advanced biotechnology and biomedicine; energy and advanced materials technologies; green industries; modern logistics and supply-chain services; financial and commercial services; innovation activities; and other high-value-added sectors.
By strengthening the country’s strategic autonomy through transformation of external capital into domestic productive capacity, FDI is expected not only to contribute capital but also to help upgrade production capabilities, expand market access, enhance resilience to external shocks and strengthen Vietnam’s position in global value chains, according to a domestic news agency.
The resolution also signals a fundamental shift in investment attraction policy, calling for a transition “from a mindset focused primarily on attracting capital to one on developing a national strategic investment platform”.
It advocates moving away from investment promotion based on administrative boundaries towards approaches built around industrial clusters, value chains and innovation ecosystems.
The resolution further calls for a gradual shift from input-based incentives to support mechanisms linked to investors’ fulfilment of commitments.
Investors will be welcomed not simply for the capital they bring, but for their capacity to contribute technology, expertise and new opportunities to the economy.
Particular emphasis is placed on project lifecycle management and stronger linkages between foreign-invested enterprises and domestic firms.
Fibre2Fashion News Desk (DS)
