The wave of supply chain relocation continues to present opportunities for Viet Nam. However, to maintain its attractiveness to international investors, Viet Nam needs to shift from competing through incentives to competing through the quality of its investment environment.

Resolution No.10‑NQ/TW on developing the foreign‑invested sector sets a new requirement for Viet Nam. It is no longer simply about how many projects are attracted, how much registered capital is pledged, or which localities boast the most industrial parks; what matters more is selecting the right capital flows and investors — those projects that deliver technology, managerial expertise, higher added value, quality jobs and genuine spill‑over benefits for domestic enterprises.

Viet Nam is recalibrating its foreign direct investment (FDI) attraction strategy towards higher quality and greater efficiency, shifting from a focus on attracting capital to effectively leveraging international resources in combination with domestic strengths to drive new growth momentum, heard a national conference on June 30.

Viet Nam has reached a point where it needs to move decisively away from the mindset of “rolling out the red carpet” for foreign investment at any cost and towards a more selective and substantive approach, with technology, innovation, green development, linkages with domestic enterprises, and value creation serving as the key benchmarks.

The year 2026 is forecast to remain favourable for foreign direct investment (FDI) attraction in Nghe An Province. Several major corporations have increased their investment capital, while industrial parks such as VSIP, WHA phases 1 and 2, and Hoang Mai 1 are being rapidly filled. Meanwhile, VSIP 2, VSIP 3, WHA 2, and Hoang Mai 2 are accelerating site clearance and infrastructure development.

Viet Nam has recorded a new five-year high in realised foreign direct investment (FDI), reaching 27.62 billion USD, while total registered capital exceeded 38 billion USD. Having completed its “historic mission” in the early stage of industrialisation, the FDI sector is now facing the need to redefine its role.