Dear comrades leaders, former leaders of the Party, State, National Assembly, Government, Vietnam Fatherland Front, leaders of Party committees at all levels, leaders of central and local departments, ministries, and branches,
Dear all Party members, veteran officials, people nationwide and the business community attending the Conference,
We have heard the Standing Deputy Prime Minister introduce the core contents of Resolution No. 10 and the presentations. I highly appreciate the elaborate preparation of the agencies in the process of building the Resolution; acknowledge the heartfelt and responsible opinions at today's Conference and the attention and follow-up of the Conference by a large number of officials, party members, the business community, investors and the People.
Resolution No. 10 dated June 8, 2026 on economic development with foreign investment capital was issued by the Politburo on the basis of summarizing nearly 40 years of implementing the Party's policy of opening up and attracting foreign investment. This is a resolution showing a change in development thinking, no longer purely opening up to receive capital flows but proactively selecting and using international resources to build national competitiveness.
I listened to the opinions of localities, sectors and international friends, and realized more clearly that capital is very important, but not only capital but also foreign technology is very necessary, which has also been shown in the content of the Resolution.
From the Foreign Investment Law in 1987, through many revisions, consolidations and completions of the Investment Law, Vietnam has gradually perfected the market economy institution, expanded integration, and built an investment environment that is increasingly open, transparent and stable. That process has turned Vietnam from a closed economy, lacking capital and heavily dependent on international aid into a highly open economy, deeply integrated with the region and the world. From a very small proportion of international trade in the late 1980s, Vietnam has now become an important link in the global production and trade network (total import and export turnover accounts for more than 180% of GDP, of which FDI accounts for about 75%). The foreign-invested economic sector has made positive contributions to growth, exports, industrialization, job creation, technology reception and modern management methods.
Today, Vietnam is in a different position. We no longer ask how to get more foreign capital, instead we must answer a more difficult question: how to effectively use foreign resources to improve internal strength, technological capacity, competitiveness and self-reliance of the economy.
We need to look directly at the limitations in FDI attraction activities:
- The localization rate is still low, linkages with domestic enterprises, technology transfer, research and development, and high-quality human resource training have not reached expectations.
- Many foreign investment projects are still mainly processing, assembling, using a lot of land, unskilled labor, cheap energy, low environmental standards, or relying heavily on incentives, not creating new capacity for the economy.
- Some localities are still competing to attract investment based on the number of projects, based on land incentives, taxes, and fees, but have not paid attention to land use efficiency, energy saving, budget contribution, technology transfer, domestic enterprise development and ensuring environmental and economic security. Many areas are still low-lying areas in attracting foreign investment (such as the Mekong Delta, Central Highlands, and Northern mountainous regions).
To overcome these limitations, Resolution 10 sets much higher goals and requirements: economic development with foreign investment must be linked to improving strategic autonomy capacity, production capacity, technology and competitiveness of the economy.
By 2030: Vietnam is in the leading group of ASEAN in terms of business investment environment, competitiveness, innovation, quality of public services and the ability to receive high-quality foreign investment projects. At the same time, setting out many other specific targets.
Achieving these high goals requires us to deeply understand the entire content of the Resolution to act more drastically, quickly and substantively in thinking about foreign investment. That is:
- Must proactively approach, select, lead and effectively use international capital flows to build national capacity.
- It is necessary to calculate the overall attraction efficiency by the productivity and quality of capital, the level of technology used, the number of high-quality jobs, training Vietnamese engineers and managers, connecting domestic enterprises into the supply chain, creating added value, and participating in innovative activities in Vietnam.
- We must not only attract investment according to administrative boundaries but also organize according to industry cluster linkages, value chains, industrial ecosystems, innovation and inter-regional space.
- We do not compete by lowering standards or trading off the environment, resources, social security and economic security for immediate growth, but must compete by the quality of institutions, modern infrastructure, high-quality human resources, low compliance costs, professional public services and a stable and predictable business environment.
- One thing to note is to implement Resolution 10 closely linked to the Resolution of the 14th Party Congress and strategic resolutions of the Politburo, especially Resolution No. 68 on private economic development and Resolution No. 79 on state economic development. The goal of attracting foreign investment in the current period is to turn those resources into the capacity of the Vietnamese economy. To do so, domestic private enterprises must have conditions to participate, learn and gradually rise up in the value chain. The state economy must invest and lead in foundational and strategic areas, creating infrastructure and development space for other sectors. All 3 economic sectors above must not develop separately but must cooperate and resonate together in a common strategy.
The global minimum tax (GMT) policy no longer allows countries to be generous with tax incentives, especially when we want to attract global multinational corporations. Some countries in the ASEAN region are promoting the attraction of projects in semiconductor, data, artificial intelligence, electronics, clean energy, international finance and are very successful such as Singapore, Indonesia, Malaysia, Thailand.
Vietnam needs to invest really well in infrastructure, clean energy, improve institutional quality, build policy credibility, train labor skills, protect intellectual property rights, develop capital markets, improve the quality of the supplier ecosystem, etc.
In that spirit, I propose that all levels, sectors, and localities focus on thoroughly grasping and organizing the good implementation of 08 key tasks.
First, it is necessary to unify awareness and strongly innovate thinking about foreign investment. The economy with foreign investment capital is an important part of the national economy, cooperating, competing healthily and developing with the state economy, private economy and cooperative economy. We create all favorable conditions for investors with capacity, technology, responsibility and long-term commitment to invest and do business successfully in Vietnam. At the same time, it is necessary to strictly screen and not accept backward technology projects that consume a lot of energy, use land inefficiently, pose a risk of pollution, transfer pricing, tax evasion, origin evasion or cause risks to national defense, security, data and key infrastructure.
Second, improve institutions in the direction of stability, transparency, predictability and compliance with international practices. Ministries and sectors must review and synchronize regulations related to investment, business and markets. Resolutely handle overlapping, contradictions, cumbersome procedures and inconsistent understandings between agencies and localities. Do not let investors have to go through too many doors, waste too much time and costs to implement a legal project. State agencies must strongly shift from management thinking to development creation, modern governance and serving businesses. Not only solve procedures faster, but also help investors forecast policies, clearly see prospects and feel secure in long-term investment.
Third, abolish the mindset of input incentives, replace it with support based on output results, associated with the level of commitment implementation. Projects with advanced technology, investment in research and development, contributing to green transformation, digital transformation, training Vietnamese workers, using domestic suppliers, technology transfer, saving land, energy and reducing emissions must be supported accordingly. Conversely, projects that are slow to implement, use land wastefully, cause pollution, transfer pricing, violate the law or do not properly implement commitments must be strictly handled. Depending on the level of violation, if necessary, incentives must be revoked, land revoked or the project terminated.
Fourth, strongly develop the domestic industrial ecosystem and substantive linkages between FDI enterprises and Vietnamese enterprises. This is the central task of the Resolution. Ministries, branches, and localities not only invite foreign corporations but must also simultaneously improve the capacity of Vietnamese enterprises to become their suppliers. It is necessary to build a database of suppliers, strengthen FDI connections with domestic enterprises, support Vietnamese enterprises to upgrade management, technical standards, financial capacity, traceability, intellectual property and digital transformation. FDI enterprises need to announce procurement needs, technical standards, localization roadmap and cooperation opportunities. Large corporations investing in Vietnam must accompany the development of supporting industries, train suppliers, share standards, transfer knowledge and create conditions for domestic enterprises to participate more deeply in the value chain.
Fifth, developing high-quality human resources is a decisive condition. Without a team of good engineers, experts, technicians and managers, it is impossible to attract and retain high-tech projects, and it is also impossible to switch from processing and assembly to designing, researching, and producing high value-added products and services. Localities with industrial parks, economic zones, and high-tech zones must proactively link with educational institutions, research institutes and businesses to train according to the needs of the industry, linkage clusters and strategic projects. It is necessary to create conditions for Vietnamese people to gradually take on technical, management, research, design and supply chain operation positions in FDI enterprises.
Sixth, invest more heavily in strategic infrastructure and infrastructure serving the new economy. To attract large projects, high technology, data centers, research centers, financial centers, free trade zones or modern factories, there must be stable electricity, clean energy, seaports, airports, highways, railways, digital infrastructure, ecological industrial parks and a good living environment for experts and workers. Infrastructure must be considered the foundation of national competitiveness. Localities cannot continue to develop fragmented and scattered industrial parks, lacking connection, lacking worker housing, social services, vocational training, and linkages with domestic enterprises.
Seventh, fundamentally innovate investment promotion work. Do not approach indiscriminately but meet purposefully, prepare carefully to work with each corporation or group of corporations, investment funds, strategic partners. (Clearly identify the partner to be invited, the industry to be attracted, the project location and the conditions to be prepared regarding land, electricity, infrastructure, human resources, policies and suppliers). Must accompany investors from understanding to deployment, operation and expansion. Support after licensing, remove obstacles for existing projects, create conditions and encourage investors to expand investment, retain reinvestment profits instead of transferring them back to the country.
It is necessary to restructure and improve the capacity of investment promotion agencies at both the central and local levels.
Eighth, develop a modern capital market to attract long-term, stable and responsible indirect investment capital flows. Resolution 10 not only raises the issue of FDI but also requires the development of the capital market, upgrading the stock market, investment funds, international financial centers and free trade zones. Vietnam is not only a place to set up factories but must become a place to mobilize, allocate capital and provide financial, technology, and innovation services to the region. This process must be associated with financial security, system safety, information transparency, investor protection and control of capital flow risks, money laundering, speculation, and market manipulation.
Dear comrades and friends,
Resolution 10 only comes into life when it is organized and implemented drastically and substantively, taking results as a measure. Each ministry and sector must have a specific action program, clear tasks, clear deadlines, and clear responsibilities. Each locality must develop an investment attraction strategy suitable to planning, advantages, development conditions and regional linkage capacity. It is impossible to let any locality chase after the same type of project, anywhere they want to build seaports, airports, data centers or high-tech zones without relying on planning, resources, infrastructure and comparative advantages.
It is necessary to have overall planning, clearly assign and decentralize, associated with effective coordination. The Central Government orients the strategy, perfects institutions, coordinates inter-regionally, screens large projects and supervises implementation. Localities must be proactive and creative, but must not compete by breaking planning, lowering standards or bargaining for long-term benefits. It is necessary to develop a set of criteria for evaluating the efficiency of the foreign-invested economic sector by sector and locality; It is necessary to focus on statistics of foreign investment projects on: technological level, added value, linkages with domestic enterprises, land use status, budget contribution, human resource training, environment, etc. The evaluation of officials, agencies, and localities in attracting investment must also be based on those criteria.
Dear foreign investors in Vietnam,
Thank you for choosing Vietnam as our second homeland, living and working in Vietnam, and investing in Vietnam. You have responded very positively to our Resolution 10 even though this resolution was newly issued on June 8, 2026, it has only been 22 days and officially implemented today. I listened to the speeches and especially there are still many other investors who have not spoken here. But I have felt that this Resolution has also met the needs, as well as resolved some of the recommendations of foreign investors in Vietnam today. Thank you for the very practical proposals for implementation. I propose that the Government, the Ministry of Finance, the Ministry of Industry and Trade, the Ministry of Agriculture and Rural Development, the Ministry of Science and Technology and localities have programs to coordinate and implement research on the proposals and recommendations of foreign investors. We warmly welcome you to continue investing in Vietnam, cooperate for mutual development, and share benefits harmoniously. We ensure the most favorable environment for foreign investors to do business, work and live safely and most successfully in Vietnam.
Dear comrades and friends,
We enter the new generation development stage with a new mindset. Vietnam must not attract investment at all costs but must be a country with strategy, choice, screening capacity and accompanying good investors to jointly create new value. We welcome foreign investors to Vietnam to do long-term business, comply with the law, respect the legitimate interests of workers, the community and the country, share technology, train human resources, develop domestic enterprises and enhance Vietnam's position in the global value chain.
The spirit of Resolution 10 is very clear: attracting foreign investment is not to replace internal strength but to strengthen internal strength, improve self-reliance; not only for rapid growth but for sustainable, inclusive and high-quality development.
I propose that the entire political system, the business community and domestic and foreign investors maximize their sense of responsibility, innovation, creativity, and determination to bring the Resolution into life, turning the right policies into good projects, strong businesses, new value chains, high-quality jobs and new capacity for the country.
That is the most practical way to continue writing a new chapter of the renovation, integration and development; bringing Vietnam to progress quickly and steadily on the path to becoming a developed, high-income country by 2045.
Thank you very much!
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