Not only foreign investment capital but more broadly foreign economy
On the morning of June 30, the Politburo organized a national conference to study, study, thoroughly grasp and implement Resolution No. 10-NQ/TW dated June 8, 2026 of the Politburo on economic development with foreign investment capital.
Speaking to direct at the Conference, General Secretary and President To Lam stated clearly that Resolution No. 10 dated June 8, 2026 on economic development with foreign investment capital was issued by the Politburo on the basis of summarizing 40 years of implementing the Party's policy of opening up to attract foreign investment.
This is a resolution that shows 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.
General Secretary and President To Lam emphasized the spirit, "there is not only foreign investment capital but more broadly foreign economies". Capital is very important, for foreign investors, and also very important for Vietnamese businesses and investors, both directly and indirectly. However, what we need is not only capital but also technology, foreign markets and other development resources.
According to the General Secretary and President, the Foreign Investment Law of 1987, through many revisions, consolidations and improvements, 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 to a highly open economy, deeply integrated with the region and the world.
Vietnam, from a very small proportion of international trade in the late 1980s, has now become an important link in the global production and trade network.
Total import and export turnover currently 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 has a different position. We no longer ask how to have more foreign capital. Instead, we must answer a more difficult question: How to effectively use foreign resources to improve internal strength, improve technological capacity, competitiveness and self-reliance of the economy" - General Secretary, President To Lam emphasized.
Turn resources into the capacity of the Vietnamese economy
According to General Secretary and President To Lam, Resolution No. 10 sets much higher goals and requirements, developing the foreign-invested economy associated with improving strategic autonomy capacity, production capacity, technology and competitiveness of the economy.
By 2030, Vietnam strives to be in the leading group of ASEAN in terms of business investment environment, competitiveness, innovation, quality of public services and access to high-quality foreign investment projects; and sets out many other specific targets.
To achieve these goals, according to the General Secretary and President, we must deeply understand the entire content of the Resolution to act more drastically, quickly and substantively in thinking about foreign investment.
Specifically, it is necessary to proactively approach, select, lead and effectively use international capital flows to build national capacity.
It is necessary to calculate investment attraction efficiency based on the productivity and quality of capital; technological level; using high-quality jobs; training Vietnamese engineers and managers; connecting domestic enterprises with supply chains; creating added value and participating in innovative activities in Vietnam.
We must not only attract investment according to administrative boundaries but also organize it according to regional, sectoral, value chain, industrial ecosystem, innovation and inter-regional space links.
We do not compete by lowering standards or trading in 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" - General Secretary and President stated clearly.
According to the General Secretary and President, one thing to note is that the implementation of Resolution No. 10 must be 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 General Secretary and President requested Vietnam to invest better in infrastructure, clean energy; improve institutional quality; build trust in policies; train labor skills; protect intellectual property rights; develop the capital market; improve the quality of the supplier ecosystem.
