Vietnam is rewriting its foreign investment playbook. With Politburo Resolution No. 10-NQ/TW enacted in June 2026 and first-half FDI inflows surging 61% year-on-year, the country is pivoting from a "quantity-first" model to one that prioritizes high technology, green standards, and deep integration with the domestic economy.
Vietnam's National Statistics Office reports that total registered foreign direct investment (FDI) reached US$34.65 billion by June 30, 2026—a 61% increase compared to the same period last year. Realized (disbursed) FDI hit US$13.03 billion, up 11.2% and the highest first-half figure in five years.
Newly licensed projects numbered 2,013, with registered capital of US$17.39 billion (up 87.2%). Expansion capital from 541 existing projects added US$11.04 billion (up 23.5%), while capital contributions and share purchases surged 89.5% to US$6.22 billion, indicating that mergers and acquisitions are becoming an increasingly attractive entry route.
Manufacturing and processing remained the dominant sector, attracting US$10.76 billion. Geographically, Thai Nguyen province led the country with over US$5.7 billion in newly registered capital, reflecting its emergence as an electronics and semiconductor hub. Singapore was the largest source country, followed by South Korea, Japan, China, and Hong Kong.
On June 8, 2026, Vietnam's Politburo issued Resolution No. 10-NQ/TW, which represents a fundamental reorientation of the country's FDI strategy. The resolution sets an ambitious target: US$200–300 billion in registered FDI and US$150–200 billion in disbursed capital for the 2026–2030 period, with approximately 75% coming from developed countries and high-tech economies.
Priority sectors include semiconductors, artificial intelligence, big data, biotechnology, new materials, and renewable energy. Ho Chi Minh City—which attracted over US$68 billion in H1 2026 alone (up 114.2%)—exemplifies this shift. Chairman Nguyen Van Duoc outlined three pillars: building complete investment ecosystems rather than chasing individual projects, using the planned Vietnam International Financial Center as a strategic magnet, and replacing simple tax holidays with institutional transparency and policy predictability.
A concrete manifestation of the new policy is Phu My 3 Industrial Park near Ho Chi Minh City. Spanning nearly 1,000 hectares with 51 projects and nearly US$60 billion in committed investment, it is on track to become Vietnam's first certified eco-industrial park. The certification covers energy efficiency, resource recycling, carbon management, and inter-enterprise symbiotic collaboration—far beyond mere landscaping.
For Chinese and other international companies, the message is clear: the era of low-cost, low-tech manufacturing investment in Vietnam is winding down. The new policy rewards investors who bring technology transfer, local supply chain development, and environmental compliance. Early movers in green manufacturing, digital upgrading, and supply chain localization stand to benefit from preferential treatment under the new framework.
At the same time, Vietnam's H1 GDP growth of 8.18% (the highest since 2011) and its graduation to upper-middle-income status (GNI per capita of US$4,970) underscore the country's structural transformation. As global supply chains continue diversifying, Vietnam is positioning itself not merely as an alternative factory floor but as a strategic production base within global value chains.
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*Sources: Vietnam National Statistics Office, D'Andrea & Partners Legal Counsel, Vietnamnet, Fujian Provincial Department of Commerce*
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