Implementing new investment support policies: "Giving wings" to the eagles.
With the introduction of new investment support policies, including the first-ever provision of financial assistance to investors, Vietnam will have more opportunities to attract investment. Eagles will be given wings to fly to Vietnam.
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| LG Display increased its investment by an additional $1 billion in its factory in Trang Due Industrial Park ( Hai Phong ) by the end of 2024. |
Breakthrough mechanism
After much anticipation, on the last day of 2024, the Government officially issued Decree No. 182/2024/ND-CP on the establishment, management, and use of the Investment Support Fund, just in time for application to the 2024 fiscal year, which is usually settled at the beginning of 2025.
"This is something we've been waiting for for a long time," said the leader of a large foreign-invested enterprise in Vietnam, adding that this will make it easier for the company to make decisions about expanding investments in Vietnam in the future.
Similarly, Mr. Bui Ngoc Tuan, Deputy General Director of Tax and Legal Advisory Services at Deloitte Vietnam, expressed his delight that after more than a year of research and learning from the experiences of advanced countries, Vietnam has policies to support investment that are in line with global trends.
Mr. Bui Ngoc Tuan even called the decision to establish the Investment Support Fund a "strategic initiative." According to Mr. Tuan, this strategic initiative underscores the government's commitment to promoting the policy of attracting substantial investment, focusing on large-scale projects, thereby enhancing innovation capacity, making Vietnam a world-leading center of advanced technology, and continuing to place Vietnam on the list of priority development destinations for "big players."
Deloitte Vietnam was one of the units consulted by the Ministry of Planning and Investment on policy during the drafting of the Decree on the Investment Support Fund. From the beginning, Deloitte supported Vietnam's implementation of investment support policies based on costs, rather than income as currently practiced, and proposed the necessity of monetary support policies, similar to those implemented in many economies. Deloitte experts even suggested that monetary support is the "gateway" for Vietnam to attract major investors.
And currently, indeed, many groundbreaking investment support mechanisms have been issued. Specifically, according to Decree 182/2024/ND-CP, the Vietnamese Government is ready to support the costs of training and developing human resources; R&D costs; investment costs for creating fixed assets; costs for producing high-tech products; investment costs for social infrastructure projects; and other cases as decided by the Government. Along with this, the Government also stipulates specific criteria, as well as different levels of support, depending on the ability to meet the established criteria.
One notable point is that businesses can receive support up to 50% of the initial investment cost of a project if they invest in an R&D center in fields such as semiconductor chips and AI. Businesses will also receive support up to 3% of the added value of high-tech products in a fiscal year if they meet certain criteria, such as achieving a minimum revenue of VND 200,000 billion, a minimum workforce of 10,000 people, and a minimum added value ratio of 30% for high-tech products.
"Giving wings" to eagles
Following the issuance of Decree 182/2024/ND-CP, Bac Ninh – one of the "magnets" attracting foreign investment in the northern region – has granted investment registration certificates to a series of projects. Among them, the multi-billion dollar project of Samsung Display is particularly noteworthy.
In fact, this project had already received investment commitments last year and was only officially granted its investment registration certificate at the beginning of this year. Nevertheless, the project has significantly contributed to affirming the attractiveness of Vietnam as an investment destination for international investors.
Recently, not only Samsung, but also many other large investors have been coming to Vietnam. A report from the Foreign Investment Agency (Ministry of Planning and Investment) shows that in 2024 alone, there were several notable projects from major investors, such as the $1.07 billion capital increase by semiconductor manufacturer Amkor, and the $1 billion capital increase by LG Display… Not to mention, there are also projects worth hundreds of millions of dollars from Foxconn, Goertek, Luxshare…
This marks the first time Vietnam has implemented a groundbreaking incentive mechanism, signifying a significant milestone in its efforts to attract more world-class high-tech companies to invest in Vietnam. 
– Mr. Bui Ngoc Tuan, Deputy General Director of Tax and Legal Advisory Services, Deloitte Vietnam
This trend is positive, but the Ministry of Planning and Investment believes that, although foreign investment attraction has continued to grow in recent years, the number of large-scale projects with high technological content remains modest. Currently, Vietnam has 110 active foreign investment projects with capital exceeding $500 million; of which only 27 are in the high-tech sector. Specifically, in the period from 2013 to the present, there have only been 59 large-scale projects exceeding $500 million, averaging less than 5 projects per year.
In this context, the implementation of the global minimum tax rate from 2024 also affects Vietnam's competitiveness. Some businesses have considered new investment plans and expansion in Vietnam. Several large corporations have surveyed and researched investment opportunities, but have not yet chosen Vietnam or are waiting to monitor the government's policy response.
And now, Vietnam's policy response is clearer, with the establishment of the Investment Support Fund and the issuance of policies supporting competition and breakthroughs. This will significantly contribute to increasing the attractiveness of Vietnam's investment environment, thereby attracting more large-scale projects, especially in the semiconductor and AI sectors.
Minister of Planning and Investment Nguyen Chi Dung has consistently emphasized the crucial role of establishing the Investment Support Fund. He often stresses to foreign investors that the upcoming investment support policy will save them the trouble of traveling far and wide.
Not only will there be no need to go anywhere, but many "eagles" will certainly be given wings to fly to Vietnam. NVIDIA's story remains a major achievement for Vietnam in attracting foreign investment in 2024.
"This is a historic milestone for Vietnam, making our country a leading AI research and development center in Asia," Minister Nguyen Chi Dung said, adding that NVIDIA's arrival will create a boost to attract more high-tech businesses to Vietnam.
In this context, new investment support policies will provide a stronger guarantee of the potential and opportunities for investors in the Vietnamese market. Therefore, even more eagles will be drawn to the market!
![[Photo] Prime Minister Pham Minh Chinh holds a phone call with the CEO of Russia's Rosatom Corporation.](/_next/image?url=https%3A%2F%2Fvphoto.vietnam.vn%2Fthumb%2F1200x675%2Fvietnam%2Fresource%2FIMAGE%2F2025%2F12%2F11%2F1765464552365_dsc-5295-jpg.webp&w=3840&q=75)
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