The Politburo's Resolution 10-NQ/TW on the foreign-invested economic sector, newly issued by the Politburo, is expected to reshape the country's investment strategy by prioritising high-quality capital, technology transfer and stronger linkages with domestic firms, laying the foundation for a more innovative, self-reliant and sustainable growth model, said insiders.
The resolution targets USD 200-300 billion in registered FDI by 2030, with emphasis on attracting technology-intensive and, high-value projects instead of labour-intensive manufacturing. It also seeks to deepen the participation of Vietnamese enterprises in global value chains by making science, technology and innovation the foundation of future growth.
Resolution No.10 also aims to raise localisation rates in key industries to 40-50 per cent and enable around 10,000 Vietnamese firms to join FDI supply chains. However, weak linkages between foreign-invested and domestic enterprises remain a major obstacle, as many local firms have yet to meet international standards on product quality, technological capability, corporate governance and delivery schedules, among other requirements.
Strategic investors may be willing to accept slightly higher production costs, but they cannot tolerate an unstable logistics chain. Prioritising investment in transport and logistics infrastructure at this stage is therefore a direct investment in strengthening the country's competitiveness and ensuring that Vietnam's development stays on course toward becoming a modern economy with deep international integration, the expert stressed.
The resolution also reflects Vietnam's broader shift from extensive growth to a development model that prioritises advanced technology, environmental sustainability and stronger regional connectivity.
Drawing on years of experience in the FDI sector, Vietnam should further improve investment policies and strengthen the legal framework governing intellectual property rights, copyright protection, competition and import support to encourage closer cooperation between foreign investors and Vietnamese partners.
Source: LuatVietnam