When Vietnam is the destination of foreign investors

Many foreign investors continue to view Vietnam as a "destination." But the important thing is how to realize those plans, thereby further boosting Vietnam's economic growth.

Many large corporations have large-scale projects and are committed to continued investment in Vietnam. Photo: Le Toan

Anticipating the "opportunities ahead"

Two consecutive delegations of American businesses, comprising over 60 major companies from Boeing, Apple, Intel, Coca-Cola, Nike, Amazon, Bell Textron, Excelerate Energy, and more, have visited Vietnam in recent days. This is an annual event organized by the US-ASEAN Business Council (USABC), but this time it's the largest delegation ever.

Ted Osius, President and CEO of USABC, happily commented on the figure, stating that it reflects the "strong confidence" of American businesses in Vietnam's future. "Vietnam is the fastest-growing economy in Southeast Asia, attracting record levels of foreign direct investment and expanding its global trade footprint," said Ted Osius.

He also highlighted Vietnam's recent significant reforms, particularly in streamlining the government apparatus and reducing barriers to import and export activities, thereby creating a more attractive environment for investment and business. "The American business community is looking forward to the positive impacts of these changes and seizing the opportunities ahead," said Ted Osius.

This isn't the first time the phrase "opportunities ahead" has been mentioned. Even as the semiconductor race heated up, many investors, not just from the US, considered Vietnam a prime destination. Many large corporations such as Intel, Amkor, Ampere, Marvell, Sysnopsys, etc., have large-scale projects and have committed to continued investment in Vietnam.

In addition to the aforementioned sectors, major investors in aviation, logistics, finance, telecommunications, healthcare, agriculture , and other fields were also present in Vietnam during this period. Meta and Bayer are typical examples.

Many other large American corporations are doing the same. Information indicates that the Trump Organization is looking to expedite the implementation of its $1.5 billion resort and golf course project in Hung Yen .

“We are very keen to accelerate the project's progress to complete it within the next two years, by March 2027, in time for the Asia-Pacific Economic Forum (APEC 2027) Summit. This will be a significant event, not only for Vietnam, but also for the region and internationally, thereby enhancing Vietnam's image on the global tourism and sports map,” said Charles James Boyd Bowman, General Director of the Trump Organization's project in Vietnam, during a meeting with Prime Minister Pham Minh Chinh a few days ago.

And it's not just that project; according to Charles James Boyd Bowman, the Trump Organization is also exploring investment opportunities in other sectors in Vietnam.

Meanwhile, Pacifico Energy (PE) Group aims to develop offshore wind power projects in Vietnam, with the goal of providing clean energy and helping Vietnam achieve double-digit growth in the near future. This was stated by Nate Franklin, Founder and Chairman of Pacifico Energy (PE), during a meeting with General Secretary To Lam in mid-March 2025.

Another noteworthy piece of information is that American businesses are also interested in the plan to develop two regional and international financial centers in Ho Chi Minh City and Da Nang, Vietnam.

There are many concerns, and these present "opportunities ahead" for both American and Vietnamese businesses.

To make Vietnam the destination

This is not the first time that American business delegations, especially those from USABC, have visited Vietnam. And almost every year, the number of delegations increases. Confirmations of investment are also constantly being made. However, what the public is waiting for are the fulfillment of these commitments.

Last year, the total investment by American businesses in Vietnam was just over $287 million. In the first two months of this year, the figure is only close to $10 million.

Vietnam is the fastest-growing economy in Southeast Asia, attracting record levels of foreign direct investment and expanding its global trade footprint.

- Ted Osius, President and CEO of the US-ASEAN Business Council (USABC)

In reality, a significant portion of US investment still goes through third countries. For example, the Amkor Project raised an additional $1.07 billion in capital in the middle of last year, 11 years ahead of schedule, with the investment registered outside of a US legal entity. However, it is clear that the acceleration of investment from the US side has not met expectations. The figures are still not as high as anticipated.

The question is, how can Vietnam become a destination not only for American businesses, but for other foreign investors in general?

In discussions with the Vietnamese government and relevant agencies, American businesses have consistently expressed their desire for Vietnam to continue reforming administrative procedures and shortening decision-making times. In fact, Vietnam has been making efforts to achieve this over the past period.

Receiving the USABC business delegation, Minister of Finance Nguyen Van Thang pledged to always accompany, support, and create all favorable conditions for American businesses and investors to continue investing and doing business in Vietnam. The Minister also clarified investors' concerns regarding excise tax, tax incentives for businesses using recycled materials, as well as investment incentives in high-tech and innovation sectors.

Regarding the mechanisms and policies for building two financial centers in Da Nang and Ho Chi Minh City, Minister Nguyen Van Thang said that Vietnam is studying the development of mechanisms and policies aimed at providing the most favorable and groundbreaking incentives possible to encourage the participation of foreign investors, investment funds, financial funds, and businesses.

Furthermore, after listening to the opinions of the American business delegation, Prime Minister Pham Minh Chinh expressed his desire for investors to continue advising and consulting on policies for the Vietnamese Government. When institutions and policies are perfected, Vietnam will truly become a safe and attractive destination for global investors, including American investors.

When Vietnam is the destination, the Vietnamese economy will receive a boost in growth momentum. Recently, one of the key solutions emphasized by the Government to achieve an economic growth rate of 8% or more this year, aiming for double-digit growth in the future, has always been to promote foreign investment, especially large projects in high-tech, semiconductor, and AI sectors. These are the new growth drivers for Vietnam, which can contribute to accelerating and breaking through the economic growth.