Vietnam Shifts to Attracting High-Value Investment, Easing Foreign Capital Rules

Vietnam is set to fundamentally revise its foreign investment attraction strategy to enhance the quality of economic growth. A newly issued Politburo Resolution No. 10-NQ/TW (dated June 8, 2026) designates the foreign-invested sector as a "crucial component" of the national economy, clearly shifting the focus from reliance on labor-intensive projects to attracting high-value investments that drive technological progress, innovation, and sustainable development. This strategic shift is a significant step towards achieving Vietnam's goal of becoming a high-income country by 2045. Shantanu Chakraborty, ADB Country Director for Vietnam, noted that maintaining the pace and quality of growth over many years, not just strong single-year growth, is essential for achieving this objective. Specifically, projects capable of driving innovation, technology transfer, workforce development, and wider economic spillover effects will be prioritized. This reflects Vietnam's ambition to elevate its position in global value chains and transition to a more sophisticated economic structure. Such policy changes suggest the flexibility of economic policy within Vietnam's one-party system. While the country has rapidly developed its manufacturing sector in the past, leveraging cheap labor, it is now imperative to upgrade its economic structure to respond to increasingly stringent environmental regulations from the international community and market demands for more advanced technologies. Behind this is Vietnam's intention to achieve technological self-reliance and build more diverse international cooperation, while maintaining economic ties with China. Furthermore, in Hanoi, initiatives to revitalize the night-time economy are underway, including the development of heritage cultural districts, modern entertainment hubs, and creative industry zones. These efforts aim to diversify the economy and improve the quality of life for citizens.