Vietnam Shifts FDI Strategy to Attract High-Quality Investments

After nearly four decades of economic openness and deep regional and global integration, Vietnam has become a highly open economy. Foreign direct investment (FDI) has played a pivotal role in the country’s development, with cumulative registered capital nearing $550 billion and more than 46,000 active projects. Resolution No. 10 by the Communist Party Central Committee aims to upgrade the quality of FDI to strengthen national self-reliance. This indicates a policy shift prioritizing projects that promote advanced technology, innovation, and environmentally friendly green growth, rather than solely increasing investment amounts. Ho Chi Minh City, for instance, targets high-quality FDI to drive green growth and sustainable development. This reflects the nation's determination to advance its economic structure. This strategic shift is seen as part of Vietnam's efforts to further solidify its position in global supply chains and transition to higher value-added industries. Particularly, in the context of complex relations with China, enhancing economic self-reliance is crucial for Vietnam's long-term national interests.