Overseas Vietnamese – A Strategic Resource in the Mission to Enhance National Competitiveness

In the context of Vietnam entering a new era of development, the Government issued Resolution No. 02/NQ-CP dated January 8, 2026, to promote business environment improvements and elevate the nation's international standing. In this process, the overseas Vietnamese community is identified as an "extended arm" and a precious resource contributing to the country's sustainable development.

Meeting Oversea Vietnamese on the occasion of the New Year

  1. The Role of Overseas Vietnamese in Improving the Investment Environment and Competitiveness

This role is demonstrated through key focal areas:

  • Bridges and Supply Chain Connections: Overseas Vietnamese serve as vital "bridges" connecting Vietnam with major technology corporations and global supply chains and value chains.
  • Intellectual Contributions and Policy Feedback: Resolution 02 encourages active participation from experts and the business community in contributing ideas and providing policy feedback to resolve institutional and implementation "bottlenecks". Overseas Vietnamese, with experience in developed markets, can provide independent and objective assessments of business environment reform results.
  • Promoting Innovation: Overseas Vietnamese are a crucial force in helping Vietnam achieve its goal of increasing rankings in the Global Innovation Index (GII) and the E-Government Development Index (EGDI) through technology transfer and modern management skills.
  1. Investment Attraction Sectors and Key Portfolios

The Government prioritizes attracting overseas Vietnamese investment and dedication to breakthrough fields, specifically in Appendix III of Resolution 02:

  • High-tech and Advanced Technologies: Focus is placed on artificial intelligence (AI), biotechnology, semiconductors, and renewable energy.
  • Future Economy: Development of the digital economy, green economy, circular economy, and building an environment-friendly digital society.
  • Infrastructure and Services: Participation in manufacturing value chains, research and development (R&D), as well as enhancing Logistics Performance Index (LPI) and tourism development (TTDI).
  1. Legal Support Mechanisms for Enterprises

In 2026, there are breakthrough innovations focused on creating a transparent and safe business environment for enterprises in general and overseas Vietnamese enterprises in particular:

  • Mindset Shift from "Management" to "Enabling and Development": The Government is determined to change its approach to law-making, treating businesses as subjects of service. Instead of focusing solely on control, state agencies are required to protect property rights and the lawful business rights of enterprises, while creating the most favorable conditions for Vietnamese enterprises (including overseas Vietnamese ones) to develop.
  • Thoroughly Resolving Legal "Bottlenecks": (1) Ministries and local authorities are tasked with regularly reviewing and synthesizing obstacles in the legal system to propose that the Government or National Assembly amend, supplement, or abolish inappropriate documents that hinder development; (2) Priority is given to resolving practical legal issues, especially overlapping or contradictory regulations in investment and business.
  • Amending Legal Support for Small and Medium Enterprises (SMEs): A notable new point is the Government's task for the Ministry of Justice to research and propose amendments to Decree No. 55/2019/NĐ-CP on legal support for SMEs. This directly supports overseas Vietnamese enterprises, which often start or operate under the SME model when returning.
  • Enhancing Support and Consulting Services: Building a comprehensive and professional business support service ecosystem, including consulting on finance, human resources, markets, and risk management. Legal support is strengthened in new areas like digital transformation, green transformation, and sustainable value chains.
  • Proactively Preventing International Disputes: The Government has innovated methods for receiving information and feedback from businesses to timely grasp obstacles, thereby implementing timely legal support measures to prevent international trade and investment disputes.
  • Implementing "6-Clear" Accountability: All legal support mechanisms must comply with the criteria: clear people, clear tasks, clear time, clear responsibility, clear products, and clear authority. This allows overseas Vietnamese businesses to transparently monitor the processing of their petitions and avoid responsibility shifting.

In localities like Hai Phong, entities such as the Department of Finance and related agencies are urgently advising on specific action plans to realize these legal support commitments starting from 1st quarter 2026.

  1. Preferential Policies and Support for Overseas Vietnamese

To create the most favorable conditions for overseas Vietnamese returning to invest and work, the Government is implementing substantive support solutions:

  • Unlocking Resources: Priority is given to creating favorable conditions for overseas Vietnamese to access resources such as land, capital, and production premises.
  • Comprehensive Administrative Reform: Aiming for the goal that citizens and businesses (including overseas Vietnamese) only provide information once to state agencies through data digitization, achieving a 100% rate of electronic administrative results, and increasing support for cross-boundary online public services.
  • Accountability and Transparency: The "6-Clear" criteria are applied within the government apparatus to ensure all feedback and petitions from overseas Vietnamese investors are handled on time and satisfactorily.

With the goal of placing Vietnam in the top 50 countries for Sustainable Development Goals (SDG), the participation of overseas Vietnamese is not only a financial investment but also a sharing of values and vision to breakthrough with the country in the new era.

 

Vu Thi Nhan