The resolution states that the quality and effectiveness of measures taken to attract, manage and utilize foreign investments do not match the potential and benefits, and have failed to meet the country’s development needs in its new phase.
The proportion of labor, resource, land and energy-intensive projects involving processing and assembly operations remains high; the localization rate and value added generated in Vietnam remains low; linkages with the domestic business sector are limited and transfer of technology is restricted; finally, competition to attract investments, based on quantity, persists in certain localities.
Indirect investment flows remain low and do not reflect market potential. Investment and merger and acquisition activities carried out by international investment funds, financial institutions and foreign investors are limited and poorly regulated.
Vietnam aims for 75% of foreign investment to come from developed economies with strong technological capabilities, significant capital and modern management practices. (Photo: Hoang Ha)
The Politburo recognizes that the foreign-invested economy is an important component of the national economy, encouraged by the state for its long-term development, and treated on an equal footing and in a healthy competitive environment with other economic sectors.
The State recognizes and protects the intellectual property rights, property rights, investment capital, income and other legitimate rights and interests of foreign investors; ensures a transparent, stable and consistent investment and business environment, characterized by low compliance costs, high predictability and consistent with international practices, and enhances competitiveness in the region and globally.
Attract foreign investments of around 40 to 50 billion dollars per year.
The overall objective put forward by the Politburo is to make Vietnam a competitive destination to attract quality foreign investments in the medium and long term for its development.
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More specifically, the Politburo set the goal of placing Vietnam among the leading ASEAN countries by 2030 in terms of investment and business environment, competitiveness, innovation, quality of public services and ability to attract high-quality foreign investment projects.
For the period 2026-2030, the goal is to attract registered foreign investments of around $200-300 billion ($40-50 billion per year) and deployed capital of around $150-200 billion ($30-40 billion per year).
In addition, 75% of foreign investments come from developed economies with strong technological capabilities, significant capital and modern management; the number of Fortune 500 multinationals investing in Vietnam increased by 30%.
This phase also aims to attract multinationals to invest in research, design, innovation, data centers, regional headquarters, operational centers, treasury centers, commercial centers and shared service centers. Specifically, at least three of the world’s largest technology companies will establish their headquarters, offices and research and development centers in Vietnam.
By 2045, the Politburo has set a goal that the foreign-invested economic sector represents around 25% of total social investment, contributing around 30% to the country’s GDP; thus contributing to making Vietnam a developed, high-income country.
A series of measures and solutions have been proposed to achieve these objectives. First, the Politburo demands a renewal of thinking and a unified understanding of the place and role of the foreign-invested economy; a radical transition from an administrative management logic towards modern governance focused on development and results-based management; and the end of the situation where territories compete to attract investments by focusing solely on quantity.
“We are determined not to sacrifice the environment, resources, social well-being and economic security in the name of mere economic growth,†the Politburo said.
The Politburo favors projects that commit to using cutting-edge, environmentally friendly technologies and that contribute significantly to innovation, research and development, training and development of Vietnamese human resources. Photo: Hoang Ha
With the aim of perfecting institutions and improving the investment and business environment, the Politburo favors projects that are committed to using cutting-edge environmentally friendly technologies and that contribute significantly to innovation, research and development, training and utilization of Vietnamese human resources.
The Politburo also authorized the pilot implementation of superior institutional models in several areas such as: international financial centers, free zones, economic zones, high-tech zones, innovation models and new development spaces in order to attract high-quality and new capital flows generation while ensuring risk control.
Other important tasks mentioned by the Politburo include the development of high-quality human resources, including attracting and developing talent. The Politburo particularly stressed the need to improve talent attraction policies, valuing highly qualified experts, scientists, entrepreneurs, business founders, overseas Vietnamese and foreigners so that they can work, conduct research, innovate, create businesses and manage businesses. operations in Vietnam.
The Politburo called for modernization and improvement of infrastructure in order to attract strategic investments; innovation in the orientation of foreign investment attraction by industry, sector and geographic area; promoting the green economy, the digital economy, technology transfer and increasing spin-offs and links with the national economic sector.
Source : https://vietnamnet.vn/bo-chinh-tri-thu-hut-200-300-ty-usd-von-dau-tu-nuoc-ngoai-trong-5-nam-2525626.html
