Anticipating the return of large capital flows.

Although foreign investment in Vietnam continues to grow positively, the trend of closing deals on large-scale projects seems to be slowing down. Once the US tax policy is officially implemented, large projects may become more active again.

Recent experience has shown that Vietnam remains a safe and attractive investment destination. Photo: Duc Thanh

Many billion-dollar proposals

A number of large corporations are continuing to come to Vietnam to propose large-scale investment projects. Most recently, perhaps, is the Adani Group of Indian billionaire Gautam Adani.

During a recent meeting with General Secretary To Lam , Mr. Gautam Adani, Chairman of Adani Group of India, stated that the Group wishes to commit to strategic, long-term investment in Vietnam with a capital of approximately 10 billion USD. According to Mr. Gautam Adani, the areas Adani intends to invest in Vietnam include strategic infrastructure projects, energy, renewable energy, and new technologies such as AI.

In fact, this wasn't Adani mentioning this "mega" project in Vietnam. At the end of 2023, when meeting with Prime Minister Pham Minh Chinh, Gautam Adani also shared his plan to invest $10 billion in Vietnam over the next 10 years. At that time, the Lien Chieu Port project ( Da Nang ) was mentioned as one of the most concrete plans Adani was targeting.

Not only Adani, but also two other South Korean corporations, Hana and Dunamu, have recently visited Vietnam to explore investment opportunities. Notably, Dunamu manages Upbit, the largest centralized cryptocurrency exchange in South Korea and the third largest globally, managing over $80 billion in digital assets. Therefore, Dunamu hopes to invest in Vietnam's cryptocurrency sector, which is considered to have significant growth potential. Recently, the Prime Minister assigned the Ministry of Finance to lead the development of a resolution on piloting a cryptocurrency market in Vietnam. Once the sandbox mechanism for this sector is established, the "door" will open for corporations like Dunamu and Hana to invest in Vietnam.

“We are committed to sharing our experience and actively cooperating with Vietnam in the field of cryptocurrencies and crypto assets, while providing the best solutions and services, ensuring safety and transparency, thereby attracting Vietnamese and international investors,” said Kim Hyoung-nyon, Vice President of Dunamu Group, during a recent meeting with Prime Minister Pham Minh Chinh.

Meanwhile, in early July 2025, the Pacific Construction Group (China) visited Quang Ninh to study and propose investment in a road tunnel project across Cua Luc Bay, with a capital scale of approximately 10,000 billion VND (equivalent to nearly 400 million USD). Cooler Master Group (China) also recently visited Bac Ninh to plan investment in the Gia Binh Industrial Park.

Cooler Master is currently investing in a $200 million project in Bac Ninh, specializing in the production of cooling modules for artificial intelligence (AI) servers, machine learning systems, and liquid-cooled precision air conditioning cabinets for data centers. The factory is expected to begin operations next year.

To meet market expansion needs, attract more investment from suppliers, and build housing for workers, Cooler Master wants to lease an additional 11 hectares of land in the Gia Binh Industrial Park. According to Mr. Andy Lin, Chairman of Cooler Master Group, if this plan is approved, the Group aims to increase its investment in Vietnam to $800-900 million USD. This is a significant investment given the current slowdown in global investment due to geopolitical fluctuations and US tariff policies.

Is a large influx of capital returning?

Many large corporations have continued to seek investment opportunities in Vietnam in recent times, demonstrating that Vietnam remains a safe and attractive investment destination. However, not many major deals have been closed recently, reportedly because many investors are awaiting the final decision from the Trump administration regarding retaliatory tariffs against other countries. Once everything is finalized, the advantage will become clear.

In his latest announcement on July 31st, US President Donald Trump adjusted reciprocal tariffs on dozens of trading partners, ranging from 10-41%. Specifically, 15% for South Korea, 25% for India... In Southeast Asia, Laos and Myanmar face a 40% tariff on goods exported to the US. Meanwhile, the tariff for Indonesia, Malaysia, and Thailand is all 19%.

According to official announcements from the Ministry of Industry and Trade, the reciprocal tariff for Vietnam has been reduced from 46% to 20%.

These tariffs are expected to affect not only trade flows, but also global investment flows. For example, to finalize a 15% tariff with the US, whereas the figure had been 25% in early July, South Korea agreed to invest $350 billion in the US, in projects selected by President Donald Trump, and also spent $100 billion on liquefied natural gas (LNG) and other energy products.

It is unclear which projects and sectors South Korean investments will focus on, but it is clear that as capital flows into the US, South Korean investment flows to other countries will be affected.

The question is, how will Vietnam be affected?

As Investment Newspaper has reported numerous times, VinaCapital, in a report released in early July 2025, affirmed that as long as the tax on Vietnamese goods does not exceed 10% compared to other countries, Vietnam will still strongly attract foreign investment.

Recent moves by foreign investors show that Vietnam still has many advantages, thanks to its open and favorable institutions and policies. Recent information indicates that the Ministry of Finance is leading the drafting of a plan related to attracting a new generation of foreign investment, to align with current trends and meet the development needs of the economy. Certainly, factors related to US tariff policies will be addressed, allowing for timely policy responses to ensure the attractiveness of the investment and business environment and to attract even more high-quality investment into Vietnam.

A few days ago, while attending the inauguration of Coherent Group's semiconductor component manufacturing plant, a $127 million investment in Dong Nai, Deputy Prime Minister Nguyen Chi Dung once again emphasized that Coherent will make a practical contribution, helping Vietnam become an important link and a semiconductor hub in the future.

"Vietnam is becoming a 'strategic hub' for leading global technology corporations such as NVIDIA, Apple, Google, Meta… and today, Coherent," said Deputy Prime Minister Nguyen Chi Dung.

More large investors like these will continue to come to Vietnam. Large investment projects will become active again in the near future.

Source: https://baodautu.vn/cho-don-su-tro-lai-cua-dong-von-lon-d345639.html