Attracting Foreign Investment Linked to Technology Transfer and the Development of Vietnamese Enterprises

The Ministry of Finance is tasked with developing a post-investment inspection mechanism and conducting periodic assessments of the fulfillment of investment commitments; incentives and support will be withdrawn if commitments are not fulfilled.

Deputy Prime Minister Nguyen Van Thang, on behalf of the Government, signed Resolution No. 280/NQ-CP dated September 22, 2026, promulgating the Government's Action Plan to implement Resolution No. 10-NQ/TW dated June 8, 2026, of the Politburo on developing the foreign-invested economic sector.

8 Key Groups of Tasks

Under the Action Plan, in addition to regular tasks, ministries, sectors and local authorities are required to focus on implementing groups of tasks concerning innovation in thinking and unified awareness of the position and role of the foreign-invested economic sector; improving institutions and the investment and business environment; developing high-quality human resources and attracting and utilizing talent.

Other key tasks include upgrading and completing infrastructure to attract strategic investment; renewing orientations for attracting foreign investment by industry, sector and locality; promoting the green economy, digital economy and technology transfer; and enhancing spillover effects and linkages with the domestic economic sector.

The Plan aims to institutionalize and fully, comprehensively and consistently implement the viewpoints, objectives, tasks and solutions set out in Resolution No. 10-NQ/TW; while clearly identifying specific tasks for ministries, sectors and local authorities to formulate action plans, organize implementation, conduct inspections and supervision, and evaluate implementation results.

Accordingly, the Plan aims to develop the foreign-invested economic sector efficiently and sustainably, making Vietnam a competitive destination for high-quality medium- and long-term foreign investment capital for development, thereby creating an important driving force for achieving the country's development objectives by 2030 and 2045.

The Plan also calls for innovation and improvement in the effectiveness of investment promotion activities; enhancement of state management efficiency; and completion of mechanisms and policies related to foreign indirect investment.

Regarding institutional improvement and enhancement of the investment and business environment, the Government requires ministries, sectors and local authorities to review legal normative documents within their respective areas of management, particularly those concerning investment, enterprises, land, planning, construction, taxation, customs, trade, competition, foreign exchange, securities, intellectual property, data, labor, science, technology and innovation.

The review must promptly identify overlapping or inappropriate regulations and unnecessary business conditions. Relevant authorities shall proactively amend, or propose competent authorities to amend, specialized management regulations and expand market access for foreign investors in accordance with an appropriate roadmap.

Policy development must be based on a full and comprehensive impact assessment, ensuring openness, transparency, consistent application and non-discrimination among investors.

A notable requirement is the comprehensive application of digital transformation to minimize the time required for administrative procedures, legal compliance costs and business conditions. Authorities must implement inter-agency connectivity and manage investment through digital platforms, digital data and artificial intelligence; promote decentralization and delegation of authority in conjunction with standardized procedures, transparency and effective post-investment supervision.

The Government requires the integration of programs and action plans for the development of the foreign-invested economic sector into the annual and five-year socio-economic development programs and plans of ministries, agencies and local authorities; and requires them to proactively allocate, integrate or propose the allocation of funding by competent authorities for implementation.

At the same time, policies and laws governing the exploitation and use of national resources must be developed and implemented fairly and transparently in accordance with market mechanisms. Regulations shall not be applied retroactively to the detriment of enterprises, except in cases involving national defense, security, social order and safety, social morality, public health and environmental protection.

Strengthening Post-Investment Supervision and Linking Incentives to Investment Commitments

The Resolution requires stronger coordination among state management agencies in inspection, examination and auditing activities to avoid overlap and duplication, while strengthening supervision of investors' fulfillment of their commitments.

Cases involving failure to properly fulfill commitments, wasteful use of land, natural resources or energy, or adverse impacts on the environment, social order or safety must be promptly addressed, including the withdrawal of incentives or application of other appropriate measures.

The Ministry of Finance is tasked with developing a post-investment supervision mechanism and periodically assessing the fulfillment of investment commitments; incentives and support will be withdrawn if commitments are not fulfilled.

Priority will also be given to projects that commit to using advanced and environmentally friendly technologies, making significant contributions to innovation, research and development, training and employment of Vietnamese workers, development of domestic suppliers, green and digital transformation, efficient use of land, natural resources and energy, and compliance with the law.

The Ministry of Finance is also tasked with reviewing and publishing the list of sectors and industries with restricted market access for foreign investors, with a view to relaxing foreign ownership limits in certain sectors and industries where investment attraction should be prioritized; and studying proposals to retain only those sectors and industries that genuinely need to remain restricted for reasons of national defense, national security, public order and safety.

Regarding the development of high-quality human resources and the attraction and utilization of talent, the Government requires the Ministry of Finance to study and report to competent authorities on the promulgation of mechanisms and policies allowing local authorities to use local budgets to support training costs for employees of foreign-invested enterprises at training institutions operated by such enterprises both domestically and overseas.

Developing Incentive Mechanisms for Core Projects

Regarding the renewal of orientations for attracting foreign investment by industry and sector, the Ministry of Finance is tasked with studying and reporting to competent authorities on the development of mechanisms and policies providing outstanding incentives and support, as well as special and flexible investment procedures, for core projects prioritized for foreign investment attraction.

These policies will be linked to the fulfillment of commitments concerning technology transfer, research and development, workforce training, increased domestic value creation, development of domestic suppliers, green transformation and digital transformation.

The Ministry of Finance will also establish criteria and procedures for selecting strategic investment projects, together with mechanisms for monitoring and supporting such projects in line with each stage of development.

For local authorities, the Government requires the development of lists of priority investment projects that are aligned with local potential and advantages and with regional and local development orientations; and the identification of roadmaps for attracting foreign investment and their integration into annual and five-year socio-economic development plans.

The focus is on prioritizing high-quality projects with strong spillover potential and the capacity to connect with domestic enterprises in the locality, thereby contributing to the development of industry clusters and industrial and service ecosystems.

The Government's Action Plan places emphasis on shifting from quantity-based foreign investment attraction toward greater focus on quality, efficiency and spillover effects. Institutional improvement, enhancement of the investment environment, improvement of human resource quality, infrastructure development, promotion of technology transfer and stronger linkages with domestic enterprises are identified as key tasks for enhancing the contribution of the foreign-invested economic sector to Vietnam's long-term development objectives.