Under the document known as Resolution 10, the development of the foreign-invested sector must be viewed within the broader context of national development, as Viet Nam establishes a new growth model based on science and technology, innovation, digital transformation, green transition, and enhanced strategic autonomy.
A driver of economic upgrading
Professor Tran Tho Dat from the National Economics University noted that one of the most significant aspects of Resolution 10 is the shift from an incentive-based approach to a capability development approach in attracting foreign investment. In other words, Viet Nam will no longer seek investment at any cost, but will set conditions for selecting investors that align with the country’s long-term development strategy.
Previously, foreign investment was primarily viewed as a source of capital and a driver of exports. Under Resolution 10, however, the foreign-invested sector is recognised as an integral component of the national economy, with a broader role in disseminating technology and management expertise and in strengthening global market connectivity.
The effectiveness of foreign investment will no longer be measured merely by the scale of capital inflows or the number of projects. Instead, it will be assessed based on its ability to generate domestic added value, support the growth of local enterprises and enhance Viet Nam’s position within global value chains.
The most important issue in attracting, managing and utilising FDI today is technological capability and its spillover effects on the domestic economy.
“Capital is no longer as scarce as it once was. What Viet Nam lacks is the ability to master technology, improve productivity and participate more deeply in global value chains. FDI can play a crucial role in developing capabilities that Viet Nam still lacks, particularly in core technologies, international-standard management practices and research and development capacity. In this way, FDI will not merely be an external resource but a driving force for upgrading the economy,” Professor Dat said.
Resolution 10 clearly reflects a new mindset in the development of the foreign-invested sector, affirming that it is an important component of the national economy and setting the goal of making Viet Nam a competitive destination for high-quality, medium- and long-term foreign investment
Specifically, by 2030, Viet Nam aims to rank among ASEAN’s leading countries in terms of the business and investment environment, competitiveness, innovation, public service quality and capacity to attract high-quality foreign investment projects.
During the 2026-2030 period, Viet Nam is targeting annual registered foreign investment of approximately 40-50 billion USD and annual disbursements of 30-40 billion USD. Of the registered investment, around 75% is expected to come from developed economies with strong technological capabilities, substantial capital resources, and modern management expertise
Localisation rate targeted at 45-50%
A major innovation of Resolution 10 is that it places the development of the foreign-invested sector within the broader strategy of enhancing national autonomy and competitiveness.
The resolution sets a target of having around 10,000 Vietnamese enterprises participating in the value and supply chains of foreign-invested companies by 2030, including approximately 500-1,000 first-tier suppliers. The average localisation rate in key industries is expected to reach 45-50%. By 2045, the foreign-invested sector is expected to account for around 25% of total social investment and contribute approximately 30% of GDP.
Lawyer Bui Van Thanh, Vice Chairman of the Viet Nam Industrial Parks Finance Association, described the resolution as a highly significant shift in the Party’s foreign investment policy during the country’s new stage of development.
In practice, he noted, the FDI model during certain periods tended to be relatively closed. Some projects operated as isolated enclaves, with limited integration into the domestic economy because components and materials were entirely imported for export-oriented production. Once tax incentives and preferential land lease arrangements expired, some investors closed operations and sold their factories.
Resolution 10 is expected to create a legal and policy ecosystem that encourages foreign enterprises to grow alongside Vietnamese businesses. This comes at a time when the private sector has been positioned as one of the central drivers of the national economy.
The Vietnamese government recognises and protects the intellectual property rights, ownership rights, and other lawful rights and interests of foreign investors relating to their investment capital and income. At the same time, it is committed to building a stable, transparent and consistent investment environment with low compliance costs and standards aligned with international practices.
Against a backdrop of intensifying international competition, major restructuring of global supply chains, and Viet Nam’s need to establish a new growth model, the issuance of Resolution 10 carries strategic significance in shaping a new-generation foreign investment model through to 2045, said Phan Huu Thang, former Director of the Foreign Investment Agency.
Viet Nam’s objective is no longer simply to attract larger volumes of capital, but to attract more advanced technologies, generate greater added value and make deeper contributions to the country’s modernisation.
Future efforts to attract foreign investment must adhere to the principle of placing quality, efficiency and technology at the forefront, while promoting innovation and sustainable development, and ensuring a balance between national interests and those of investors.
Resolution 10 on the development of the foreign-invested sector in the new era is particularly significant as Viet Nam transitions to a new growth model. It offers an important strategic direction that will help reshape the structure of the economy going forward.
