RESOLUTION
POLITICAL BUREAU'S RESOLUTION ON ECONOMIC DEVELOPMENT WITH FOREIGN INVESTMENT
After nearly 40 years of reform and opening up, the foreign-invested economic sector has continuously developed, not only supplementing important investment resources but also contributing to promoting economic restructuring, innovating growth models, forming several key industries, expanding export markets, gradually integrating Vietnam deeper into global production networks and value chains, supporting human resource development, and adopting advanced technologies and management methods.
However, the quality and effectiveness of attracting, managing, and utilizing foreign investment have not been commensurate with the potential and advantages, and have not met the development requirements of the country in its new phase. The proportion of projects that are labor-intensive, resource-intensive, land-intensive, energy-intensive, and involved in processing and assembly remains high; the localization rate and the value added generated in Vietnam are still low; linkages with the domestic business sector are not high, and technology transfer is limited; and there is still competition in attracting investment based on quantity in some localities. Indirect investment flows are still small and not commensurate with market potential. The activities of capital contributions, mergers and acquisitions by global investment funds, financial institutions, and foreign investors are limited and lack strict management.
In the context of Vietnam establishing a new growth model based on science, technology, innovation, digital transformation, green transformation, and enhanced strategic autonomy, attracting and developing foreign-invested enterprises must be placed within the overall national development strategy.
The Politburo requests focused and decisively, synchronously, and effectively implementing the following contents:
I. GUIDING PRINCIPLES
1. Foreign-invested enterprises (FDI) are an important part of the national economy, not only contributing medium and long-term capital for development investment but also serving as a channel for acquiring advanced technology, modern management methods, and training to improve the quality of human resources, helping to expand markets; they are encouraged by the State to develop long-term, treated equally, and compete fairly with other economic sectors in accordance with the law.
2. Developing the economy with foreign investment is linked to the requirements of improving efficiency, strategic autonomy, and competitiveness of the economy, expanding market networks, and deeply participating in global supply chains; making a positive contribution to the industrialization and modernization of the country, promoting rapid and sustainable economic growth, maintaining political stability, national defense and security, and enhancing Vietnam's position and prestige in the international arena.
3. The focus is shifting from a mindset primarily focused on attracting capital to one focused on developing a national strategic investment platform; from attracting investment based on administrative boundaries to attracting investment based on industry clusters, value chains, and innovation ecosystems; prioritizing quality, efficiency, technology transfer, supply chain participation, and added value; and gradually moving from input-based incentives to support linked to the fulfillment of commitments, including project lifecycle management and connection with domestic businesses.
4. Develop a synchronized and unified foreign investment ecosystem, linked to the domestic enterprise development strategy, the development of capital markets, international financial centers, free trade zones, economic zones, industrial parks, high-tech zones, innovation centers, logistics infrastructure, data, and energy; encourage foreign investors to establish regional headquarters and regional operational, research, design, and service centers.
5. The State recognizes and protects intellectual property rights, property rights, investment capital, income, and other legitimate rights and interests of foreign investors; ensures a transparent, stable, consistent investment and business environment with low compliance costs, high predictability, in line with international practices, and enhances regional and global competitiveness. It ensures a mechanism for dialogue, timely receipt and handling of suggestions and complaints based on the principle of harmonizing the interests of all parties; resolves investment disputes in accordance with the law; and encourages parties to resolve disputes through self-conciliation via commercial mediation and commercial arbitration mechanisms.
6. Strengthening the Party's leadership and the State's constructive role; enhancing the effectiveness and efficiency of national coordination; promoting the initiative and creativity of localities based on unified strategies, plans, criteria, and monitoring mechanisms; and using tangible contributions as the primary measure in attracting, managing, and utilizing foreign investment.
II. OBJECTIVES
1. Overall Objectives
To make Vietnam a competitive destination for attracting high-quality medium- and long-term foreign investment for development. Effectively managing and utilizing foreign investment to enhance production capacity, create linkages and spillover effects with domestic economic sectors, promote technology transfer, train human resources, and deeply participate in global supply chains; contributing to establishing a new growth model based on science, technology, innovation, and digital transformation; strengthening competitiveness and strategic autonomy; enhancing national standing and prestige; and creating a crucial impetus for successfully achieving the country's development goals by 2030 and 2045.
2. Specific Objectives
a) By 2030
– Striving to position Vietnam among the leading ASEAN countries in terms of investment and business environment, competitiveness, innovation, quality of public services, and the capacity to attract high-quality foreign investment projects.
– Period 2026-2030: Attracting registered foreign investment capital of approximately 200-300 billion USD (40-50 billion USD/year); implemented capital of approximately 150-200 billion USD (30-40 billion USD/year).
– 75% of foreign investment comes from developed economies with strong technological capabilities, capital, and modern management; the number of multinational corporations on the Fortune 500 list investing in Vietnam increased by 30%; attracting multinational corporations to invest in research, design, innovation, data centers, regional headquarters, operational centers, treasury centers, shopping centers, and shared service centers, including at least three leading global technology corporations establishing headquarters, offices, and research and development (R&D) centers in Vietnam; attracting foreign enterprises, including small and medium-sized enterprises, that possess core technologies, specialized technologies, and the ability to participate deeply in global value chains.
– The average localization rate in key industries will reach 45-50%; the goal is to have approximately 10.000 domestic enterprises participating in the value chains and supply chains of foreign-invested enterprises, including about 500-1.000 Tier 1 suppliers.
– The proportion of trained workers in the labor force structure reaches approximately 80%; significantly increasing the percentage of Vietnamese people holding technical, managerial, research, design, operation, and supply chain positions in high-quality foreign investment projects.
– Eco-industrial parks, including those undergoing conversion and newly established ones, account for approximately 10% of the total number of industrial parks nationwide.
– We aim for the stock market to be upgraded by MSCI before 2030.
b) By 2045
The foreign-invested economic sector is developing efficiently and sustainably, closely linked with the state-owned and private economies, making Vietnam one of the leading centers for production, services, innovation, and regional governance with high competitiveness in Asia, deeply involved in global value chains; the capital market is developing in a modern, transparent, safe manner, approaching international practices.
The goal is that by 2045, the foreign-invested economic sector will account for approximately 25% of total social investment, contributing about 30% of the country's GDP; helping to make Vietnam a developed, high-income country.
III- TASKS AND SOLUTIONS
1. General Task Group
1.1. Innovating thinking and unifying understanding of the position and role of the foreign-invested economy.
– The foreign-invested economy is an inseparable component of the national economy; it is a crucial driving force in economic development and international integration; it is a source of high-quality capital, advanced technology, modern management, and international standards; it serves as a bridge to expand markets and participate in global value chains; and it is a channel for communication, promoting the image, enhancing the position and prestige of Vietnam in the international arena, and actively contributing to maintaining peace and stability in the region and the world.
– Shift strongly from an administrative management mindset to a development-oriented mindset, modern governance, and results-based management; overcome the situation where localities compete to attract investment by focusing solely on quantity; resolutely refuse to sacrifice the environment, resources, social welfare, and economic security for mere economic growth.
– Encourage foreign-invested enterprises to enhance their responsibility, strengthen linkages, share knowledge, support the development of domestic enterprises, and be long-term partners with the Vietnamese economy.
1.2. Improving institutions and enhancing the investment and business environment.
– To comprehensively and uniformly improve the legal system, ensuring transparency, stability, and high predictability, especially in the areas of investment, enterprises, land, planning, construction, taxation, customs, trade, competition, foreign exchange, securities, intellectual property, data, labor, science, technology, and innovation; and to promptly resolve overlaps, conflicts, and bottlenecks in implementation.
– Innovate investment incentive and support mechanisms, gradually shifting from traditional incentives to support mechanisms linked to project performance; build a post-audit mechanism to revoke incentives and support if commitments are not met; prioritize projects with voluntary commitments and good implementation of commitments on the use of advanced, environmentally friendly technologies, significant contributions to innovation, research and development, training and utilization of Vietnamese human resources, development of domestic suppliers, green transformation, digital transformation, efficient use of land, resources, and energy, and compliance with the law.
– Establish a mechanism for selecting, supporting, and managing strategic investors; identify a number of priority strategic sectors and technologies to attract investment in each stage, and maintain an open list that is reviewed and updated periodically for emerging technology, industrial, and service sectors with comparative advantages, locational advantages, and high spillover potential. Apply special investment procedures and preferential mechanisms for large-scale strategic technology projects with inter-regional impact, potential to lead regional and global supply chains, and high-tech projects with commitments to technology transfer to Vietnamese enterprises.
– Pilot superior institutional models in certain areas such as: international financial centers, free trade zones, economic zones, high-tech zones, innovation models and new development spaces to attract high-quality, next-generation capital flows, while ensuring risk control.
– Strongly reform administrative procedures, investment and business conditions, and coordination among agencies; implement investment management on a digital platform, digital data, and artificial intelligence; decentralize and delegate authority while standardizing processes, ensuring transparency, openness, and effective post-audit; and hold the lead agency and its head accountable for the results and effectiveness of attracting foreign investment.
– Review and expand market access for foreign investors according to a suitable roadmap based on a full and comprehensive assessment of impacts, ensuring transparency, uniform application, and non-discrimination among investors. Retroactive application that is detrimental to businesses is prohibited, except in cases for reasons of national defense, national security, public order and safety, social morality, public health, and environmental protection as stipulated by law.
1.3. Developing high-quality human resources, attracting and utilizing talent.
– Develop a high-quality human resource development program linked to the needs of priority sectors, industry clusters, industrial parks, high-tech zones, and strategic projects; strengthen linkages between the State, training institutions, domestic businesses, and foreign investors.
– There should be policies to support human resource training projects of foreign-invested enterprises in collaboration with domestic institutes, schools, vocational training centers, and businesses, especially in strategic technology fields.
– There should be mechanisms to support and encourage foreign-invested enterprises to employ, train, upgrade, and gradually assign technical, management, research, design, and supply chain operation tasks to Vietnamese people.
– Innovate vocational and higher education, retraining and upskilling for workers; prioritize technology, engineering, data, automation, production management, logistics, finance, and new fields with high demand. Reorganize existing vocational training facilities in localities to form high-quality vocational training centers in key economic regions, meeting the requirements for attracting a new generation of foreign investment.
– Improve policies to attract talent, value and utilize experts, scientists, entrepreneurs, founders, overseas Vietnamese, and highly qualified foreigners to work, research, innovate, start businesses, and manage operations in Vietnam; create favorable conditions regarding residence, employment, living environment, public services, and connection to the innovation ecosystem; review and minimize regulations on work permits for foreign experts, especially those in high-tech fields and short-term assignments.
– There should be a mechanism allowing localities to use local budgets to support the costs of foreign-invested enterprises in implementing labor training activities at the enterprises' training facilities both domestically and abroad.
1.4. Upgrading and improving infrastructure to attract strategic investments.
– Invest in developing a comprehensive and modern strategic infrastructure system linked to national, regional, and local development plans, opening up new development spaces and drivers; prioritize infrastructure projects connecting and logistics centers at key seaports, international airports, expressways, high-speed railways, inland waterways, and dynamic regions to anticipate the trend of global supply chain shifts and high-quality foreign investment flows.
– Ensuring sufficient and stable supply of electricity, water, digital infrastructure, meeting the demand for clean land and support services for high-quality projects, especially research and development centers, regional headquarters, operational centers, and strategic industrial complexes.
– Accelerate the transformation of industrial parks, economic zones, and high-tech zones towards ecological, smart, specialized, and integrated production infrastructure with logistics service infrastructure and social infrastructure serving workers (housing, healthcare, education, culture, sports). Develop infrastructure according to strategic clusters and sectors, linked to development space, local planning, and environmental management.
– Completing the national digital infrastructure and database to meet the requirements of state management, public service provision, and investor connectivity; promoting data sharing, standardizing processes, reducing paperwork, processing time, and compliance costs.
2. Innovate the orientation of attracting foreign investment by industry, sector, and geographical area.
– Identify several core areas that need priority in attracting foreign investment, such as: electronics, semiconductor chips and digital devices; artificial intelligence, big data, cloud computing, the Internet of Things and blockchain; advanced biotechnology and biomedical technology; advanced energy and materials technology, green industry; modern logistics, supply chain services, financial services, trade, innovation and high value-added services. Regularly review and update priority areas for attracting foreign investment, ensuring they are consistent with the practical situation of each development stage, the requirements of international integration, national defense and security, and national interests. Develop superior, competitive incentive mechanisms linked to performance requirements; specific and unique investment procedures; and mechanisms for handling difficulties and obstacles in a focused, rapid, and flexible manner.
– Priority will be given to attracting projects and investors with foundational and core technologies, committed to implementing research and design activities, establishing innovation centers and data centers, investing in energy and commodity reserves for the region and internationally, building regional headquarters, operational centers, treasury centers, shopping centers, and shared service centers capable of connecting Vietnam with regional and global production networks, service networks, and financial markets.
– Focus on developing key economic zones, economic corridors, industry clusters, and new development spaces linked to advantageous locations, transportation hubs, logistics, digital infrastructure, energy, major cities, and regional connectivity to attract a new generation of foreign investment. For localities facing difficulties, investment attraction must be tailored to actual conditions, with a roadmap for gradually improving quality, and avoid creating a low level of incentives to compete for investment.
3. Promote the green economy, digital economy, technology transfer, and increase the spillover effects and linkages with the domestic economic sector.
– Encourage and require foreign-invested enterprises to commit to technology, research and development, technology transfer, development and training of Vietnamese personnel, domestic value-added ratio, development of domestic suppliers, green transformation and digital transformation in order to enjoy investment incentives based on performance; publish procurement needs, technical standards, management standards and localization roadmap.
– Develop and implement a national program for the development of domestic suppliers; establish a national database, a platform for connecting suppliers, industry clusters, and long-term cooperation mechanisms between foreign investors and domestic enterprises; support Vietnamese enterprises in improving their management capacity, technology, standards, finance, traceability, and ability to participate in the value chains and supply chains of foreign-invested enterprises.
– There should be mechanisms to support Vietnamese businesses in joint ventures, partnerships, mergers, and acquisitions, gradually increasing the proportion of capital contributions, share purchases, technology acquisitions, and technology transfers from foreign-invested enterprises in strategic technology sectors and enterprises with traditional technologies abroad, ensuring that the support mechanisms comply with international commitments.
– Encourage investment by investment funds, financial intermediaries, and foreign investors in joint ventures, partnerships, capital contributions, and share purchases of domestic enterprises and projects associated with investment in improving technology, management, markets, and training Vietnamese workers; strictly control and prevent risks to national defense, security, data security, financial system safety, and critical infrastructure.
– Encourage credit institutions to provide interest rate subsidies and preferential credit to implement green, circular, energy-efficient, and resource-efficient foreign investment projects that apply environmental, social, and governance (ESG) standards. Allow businesses to depreciate digital and green assets more quickly.
– There should be mechanisms to encourage Vietnamese experts, managers, and workers who have worked in foreign-invested enterprises to leverage their experience, skills, and networks to form new businesses, new projects, and innovative activities, thereby spreading knowledge and advanced management methods.
4. Innovate and improve the effectiveness of investment promotion activities.
– Fundamentally reform investment promotion efforts towards a proactive, focused, data-driven, professional, substantive, and long-term approach; shift from scattered investment promotion to approaching, engaging, negotiating with, and partnering with strategic investors and strategic projects; consider post-licensing support, resolving difficulties for existing projects, and encouraging the expansion of high-quality projects as important components of investment attraction policies.
– Build a database of strategic investors, strategic partners, leading corporations, financial institutions, major investment funds, and key innovation centers, with specialized approaches tailored to each market, industry group, and geographical area.
– Building a national image of a stable, safe, transparent, and reform-oriented investment and business environment, with a high-quality workforce, a strategic location, increasingly improved infrastructure, and a commitment to supporting investors.
5. Improve the effectiveness of state management of the economy with foreign investment.
– Implement clear decentralization and delegation of authority, coupled with strengthened national coordination, regional linkages, inspection, supervision, and accountability. Improve mechanisms for reviewing, coordinating appraisal, and managing investment risks for projects and transactions related to key or sensitive sectors, localities, businesses, works, and infrastructure; ensuring clear, public, transparent criteria, within the proper authority and procedures, without creating unnecessary barriers or bottlenecks to legitimate investment and business activities.
– Develop and operate the National Investment Single Window Portal in a fully digitized manner, ensuring data interoperability between ministries, sectors, and localities; implement the principle of "one-time application, multiple uses"; improve the quality of service for investors and businesses, and enhance the quality of analysis, forecasting, and policy management.
– Implement the set of criteria for evaluating the economic efficiency of foreign-invested enterprises at both the central and local levels; using quality, efficiency, technology, innovation, training of Vietnamese people, development of suppliers, contribution to the state budget, environmental protection, compliance with the law, and economic security as the main criteria.
– Strengthen measures to prevent and combat transfer pricing, trade fraud, and misrepresentation of goods' origin by thoroughly verifying the source of capital, the ultimate beneficial owner, and controlling high-risk transactions as prescribed by law; conduct independent appraisals of the value of capital contributions, machinery, equipment, and technology lines when necessary.
– Strengthen monitoring of investors' commitment implementation; promptly handle violations, revoke incentives, or apply appropriate measures in cases of non-compliance with commitments, wasteful use of land, resources, and energy, or negative impacts on the environment, social order, and safety.
– Timely recognition and rewards should be given to foreign-invested enterprises and foreign investors who make substantial, long-term, and positive contributions to the country's development goals.
6. Improve mechanisms and policies related to foreign indirect investment.
– Develop medium and long-term capital markets in a transparent, modern, safe, and sustainable manner, reducing dependence on short-term credit markets; comprehensively improve the institutional framework for the development of securities markets, bond markets, and intermediary institutions; urgently implement the construction and operation of international and regional financial centers; accelerate the roadmap for upgrading the securities market based on substantive reforms in market access, quality and diversity of goods supply, information transparency, system security, and protection of the legitimate rights and interests of investors.
– Increase the supply of goods to the capital market by promoting privatization linked to listing, encouraging private enterprises to raise capital and list on the market, improving corporate governance and information transparency. Conduct controlled pilot programs for the development of cryptocurrency exchanges.
– Develop the investor base by diversifying the types and groups of investors, focusing on increasing the proportion of institutional investors, professional investors, investment funds, supplementary pension funds, insurance companies, private equity funds, venture capital funds, and growth investment funds; encourage long-term, stable, and responsible foreign capital flows.
– Enhance market access for foreign investors, improve infrastructure for trading, payment, clearing, custody, risk hedging tools, and investor protection mechanisms; continue to improve the quality of information disclosure, accounting standards, corporate governance, and market supervision towards international best practices.
– Improve mechanisms for protecting the legitimate rights and interests of investors in the capital market; enhance the efficiency of receiving and handling complaints and disputes, and fulfilling obligations regarding information disclosure and corporate governance; while strengthening supervision of capital flows, foreign exchange, anti-money laundering, and systemic risks.
7. Enhance the leadership role of the Party and the effectiveness of the Vietnam Fatherland Front and related agencies in the development of the foreign-invested economy.
– Innovate the content and methods of leadership of Party organizations in foreign-invested enterprises to suit their specific characteristics; strengthen Party development, ideological work, mass mobilization work, harmonious, stable and progressive labor relations, and improve the effectiveness of mass organizations in foreign-invested enterprises.
– Improve the quality of staff involved in state advisory, management, investment promotion and support work; assign staff with sufficient competence, integrity, character, service spirit, and an integrated mindset.
– Promote the supervisory and social critique role of the Vietnam Fatherland Front and political-social organizations, professional-social organizations, business associations, the business community, and workers in the process of formulating, implementing, and monitoring policies on economic development with foreign investment.
IV- IMPLEMENTATION ORGANIZATION
1. The Party Committee of the National Assembly leads and directs the review and improvement of laws on economic development with foreign investment; and strengthens supervision of their implementation in accordance with regulations.
2. The Party Committee of the Government shall lead and direct: the development of an action program to implement the Resolution; the issuance or submission to competent authorities of necessary mechanisms, policies, and laws to implement the Resolution; the identification of several core priority sectors and fields for attraction in each stage and a mechanism for periodic review and updating of the open list; the development of a set of monitoring criteria, reporting regime, and mechanisms for preliminary and final reviews; the organization of pilot programs for some new mechanisms and policies, ensuring independent evaluation, timely adjustment or termination of ineffective or risky pilot programs; and the allocation of sufficient resources and immediate dissemination of the Resolution after its issuance.
3. Party committees of ministries, ministerial-level agencies, the Supreme People's Court, the Supreme People's Procuratorate, provincial and city Party committees, and Party committees directly under the Central Committee shall develop action plans with appropriate tasks, solutions, and timelines; assign specific responsibilities to agencies and units for implementation; and periodically report on results, difficulties, obstacles, and proposed solutions.
4. The Party Committee of the Ho Chi Minh National Academy of Politics presided over and coordinated with relevant agencies to compile training materials for cadres, civil servants, and public employees on the content of the Resolution; and organized training courses according to practical requirements.
5. The Party Committee of the Vietnam Fatherland Front, central mass organizations, political and social organizations, and professional and social organizations shall lead and direct the development of programs and plans to guide and mobilize the people to implement the Resolution; promote the role of social supervision and criticism, and participate in the development of relevant laws, mechanisms, and policies.
6. The Central Propaganda and Mass Mobilization Department will preside over and coordinate with the Party Committee of the Government and relevant agencies to advise the Politburo and the Secretariat on organizing the thorough understanding and strengthening the dissemination of the Resolution's content.
7. The Party Committee of the Government, in coordination with the Central Party Office, the Central Policy and Strategy Committee, and the Party Committees directly under the Central Committee and local Party Committees, will regularly monitor, inspect, supervise, conduct preliminary and final reviews, and periodically report the results of the implementation of the Resolution to the Politburo and the Secretariat.