Launched in 2021 by Vietnam Economic Times / VnEconomy, under the Vietnam Economic Association, in coordination with the Ministry of Foreign Affairs, the Vietnam Connect Forum was established to mark the 20th anniversary of the Golden Dragon Awards, dedicated to Vietnam’s FDI sector.
From its earliest editions, the Forum was positioned as a platform connecting three key stakeholder groups: the government, local authorities, and the business community alongside international partners. Through dialogue sessions, experience-sharing, and policy discussions, the Forum aims to foster greater mutual understanding, consensus, and collaboration between stakeholders to create a sustainable development environment for the economy.
Following five editions held in Hanoi, Hai Phong, Da Nang, and Ho Chi Minh City, the Vietnam Connect Forum has gradually become a trusted platform, bringing together policymakers, business associations, representatives from the foreign investment community, domestic enterprises, and economic experts.
Under the direction of the Central Commission for Policy and Strategy, the sixth edition of the Forum this year was jointly organized by the Vietnam Economic Association and Vietnam Economic Times / VnEconomy in collaboration with the Institute of Policy and Strategic Studies, and had the theme “Building Integrated Partnerships Between Foreign-Invested and Domestic Economic Sectors for Breakthrough Growth in the New Era.”
The global economy is undergoing profound shifts, strategic competition between major economies is intensifying, geopolitical risks and supply chain disruptions are mounting, and the restructuring of global value chains and international investment flows is accelerating.
Amid these changes, Vietnam continues to emerge as an attractive destination for foreign investment thanks to its stable political environment, dynamic economy, strategic position in regional supply chains, and expanding network of next-generation free trade agreements.
After nearly 40 years of reform and integration, the foreign-invested sector has become an integral part of Vietnam’s economy, contributing around 20 per cent of GDP, more than 70 per cent of exports, and millions of direct jobs. Many of the world’s leading technology and industrial corporations have selected Vietnam as a strategic manufacturing base, accelerating the country’s industrialization, modernization, and international integration.
Notably, a growing number of Vietnamese companies have begun integrating more deeply into global supply chains, becoming Tier 1 and Tier 2 suppliers to multinational corporations. This is viewed as a positive signal that domestic enterprises are gradually strengthening their capabilities as they participate in global production networks.
However, despite these achievements, links between the FDI sector and domestic enterprises remain limited. Localization rates in many industries are still low, relatively few Vietnamese firms have the capacity to participate deeply in global value chains, and the expected spillover effects in technology and management from the FDI sector to domestic firms have yet to materialize fully.
One of the key reasons identified is that domestic enterprises continue to face significant constraints in technological capacity, workforce quality, and their ability to meet international standards. Meanwhile, many FDI companies still operate relatively closed supply chains that remain heavily dependent on external supplier ecosystems.
Against this backdrop, Vietnam is seeking to cultivate a new generation of FDI, one that brings not only investment capital but also knowledge, technology, and modern management capabilities, while fostering deeper integration, cooperation, and stronger links with the domestic economy through local enterprises.
(*) Professor Hoang Van Cuong is a Vice Chairman of the Vietnam Economic Association.
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