Vietnam has entered a new phase in its foreign investment strategy.
\nWith the issuance of Politburo Resolution No. 10-NQ\/TW dated 8 June 2026 (\u201cResolution 10\u201d), the Government has made clear that Vietnam\u2019s future economic growth will no longer be driven primarily by low-cost manufacturing, inexpensive land or broad tax incentives. Instead, the country\u2019s ambition is to attract foreign investment that delivers advanced technology, innovation, research and development (R&D), high-quality employment and stronger integration of Vietnamese enterprises into global value chains.
\nAlthough Resolution 10 is a Communist Party policy document rather than legislation, it provides an important indication of Vietnam\u2019s future regulatory direction. Historically, major Party resolutions have served as the policy foundation for subsequent legislation and administrative reforms. Foreign investors should therefore view Resolution 10 as an early roadmap for the next generation of Vietnam\u2019s investment framework.
\n1. Vietnam Changes Its Investment Philosophy
\nFor more than three decades, Vietnam established itself as one of Asia\u2019s leading destinations for foreign direct investment by offering competitive labour costs, political stability, attractive tax incentives and access to international markets through an extensive network of free trade agreements.
\nResolution 10 signals a significant evolution of this strategy.
\nRather than competing primarily on cost, Vietnam now intends to compete on quality. The Government seeks to attract investment that enhances productivity, strengthens technological capabilities and supports the country\u2019s long-term economic transformation.
\nFuture investment projects are expected to demonstrate meaningful contributions in areas such as:
\n\u2022\tresearch and development;
\n\u2022\tadvanced technologies and innovation;
\n\u2022\ttechnology transfer;
\n\u2022\tdevelopment of highly skilled human resources;
\n\u2022\tintegration of Vietnamese enterprises into global supply chains; and
\n\u2022\tsustainable economic development.
\nIn other words, Vietnam is moving from attracting more foreign investment to attracting better foreign investment.
\n2. Priority Sectors for Future Investment
\nResolution 10 identifies several strategic industries that are expected to receive strong policy support and become the focus of future investment promotion.
\nThese include:
\n\u2022\tsemiconductor manufacturing;
\n\u2022\tartificial intelligence (AI);
\n\u2022\tbig data and cloud computing;
\n\u2022\tblockchain technologies;
\n\u2022\tthe Internet of Things (IoT);
\n\u2022\tbiotechnology and biomedicine;
\n\u2022\trenewable energy and green technologies;
\n\u2022\tadvanced and high-value manufacturing;
\n\u2022\tdigital infrastructure and data centres;
\n\u2022\tlogistics and smart infrastructure; and
\n\u2022\tthe development of international financial centres, particularly in Ho Chi Minh City.
\nThese sectors are expected to play a central role in Vietnam\u2019s ambition to become a regional innovation and technology hub over the coming decade.
\n3. A New Incentive Model: From Tax Benefits to Performance-Based Partnership
\nOne of the most significant messages contained in Resolution 10 is the Government\u2019s intention to modernise Vietnam\u2019s investment incentive framework.
\nTraditional incentives based primarily on tax holidays, preferential land rental and investment scale are gradually giving way to a more sophisticated approach.
\nInstead, incentives are expected to become increasingly linked to measurable economic contributions.
\nFuture support is likely to depend upon an investor\u2019s ability to demonstrate tangible achievements, including:
\n\u2022\tactual R&D expenditure;
\n\u2022\tsuccessful technology transfer;
\n\u2022\tdevelopment of Vietnamese suppliers;
\n\u2022\tlocalisation of supply chains;
\n\u2022\tcreation of highly skilled employment; and
\n\u2022\timplementation of sustainable and environmentally responsible business practices.
\nThis reflects a broader policy shift from incentive-based attraction towards performance-based partnership, rewarding investors that contribute to Vietnam\u2019s long-term competitiveness and industrial upgrading.
\n4. Stronger Integration with the Domestic Economy
\nResolution 10 also addresses one of the Government\u2019s long-standing concerns: the limited integration between certain foreign-invested enterprises and domestic businesses.
\nGoing forward, foreign investors are expected to generate greater \u201cspillover effects\u201d for the Vietnamese economy.
\nThis includes:
\n\u2022\tdeveloping local supplier networks;
\n\u2022\tassisting Vietnamese enterprises in meeting international quality standards;
\n\u2022\tsharing technology and management know-how;
\n\u2022\tsupporting workforce development; and
\n\u2022\tstrengthening Vietnam\u2019s participation in global value chains.
\nThe Government\u2019s objective is not simply to increase foreign investment, but to maximise its positive impact across the broader economy.
\n5. What Should Foreign Investors Do Now?
\nAlthough implementing legislation will follow over time, Resolution 10 already provides valuable insight into the Government\u2019s policy priorities.
\nForeign investors considering new projects or expanding existing operations in Vietnam should begin preparing now by:
\n\u2022\tincorporating meaningful R&D and innovation components into investment proposals;
\n\u2022\tdeveloping clear localisation and supplier development strategies;
\n\u2022\tstrengthening ESG and sustainability commitments;
\n\u2022\tdemonstrating technology transfer and workforce development plans;
\n\u2022\tevaluating whether future projects align with Vietnam\u2019s strategic priority sectors; and
\n\u2022\tclosely monitoring forthcoming amendments to the Law on Investment, tax legislation, industrial zone regulations and related implementing measures.
\nInvestors that proactively align their business strategies with these evolving policy priorities are likely to be better positioned to obtain regulatory support and benefit from Vietnam\u2019s next generation of investment incentives.
\nLooking Ahead
\nResolution No. 10 marks one of the most significant strategic shifts in Vietnam\u2019s foreign investment policy in decades.
\nWhile the detailed legal framework will evolve over the coming months and years, the direction is already unmistakable. Vietnam is seeking not simply more foreign investment, but investment that delivers innovation, technology, sustainability, higher productivity and long-term economic value.
\nFor international investors, the message is equally clear: future success in Vietnam will increasingly depend not only on the amount of capital invested, but on the quality of the investment and its contribution to the country\u2019s economic development.
\nCompanies that understand this shift early\u2014and position themselves accordingly\u2014will be best placed to benefit from Vietnam\u2019s next chapter of growth.<\/p>\n
Please do not hesitate to contact Dr. Oliver Massmann at omassmann@duanemorris.com should you have any questions or require further information regarding the implications of Resolution No. 10 or Vietnam\u2019s evolving foreign investment framework.
\nDr. Oliver Massmann is the General Director of Duane Morris Vietnam LLC.<\/p>\n","protected":false},"excerpt":{"rendered":"
Vietnam has entered a new phase in its foreign investment strategy. With the issuance of Politburo Resolution No. 10-NQ\/TW dated 8 June 2026 (\u201cResolution 10\u201d), the Government has made clear that Vietnam\u2019s future economic growth will no longer be driven primarily by low-cost manufacturing, inexpensive land or broad tax incentives. Instead, the country\u2019s ambition is … <\/p>\n
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