In a draft proposal for the revised Law on Investment, the Ministry of Finance (MoF) has recommended abolishing the official approval procedure for outbound investment projects, a process currently under the authority of the National Assembly, the Prime Minister, and the MoF itself.

Under the draft proposal, investors would instead register their overseas fund transfers directly with the State Bank of Vietnam (SBV).

Explaining the rationale for this change, the MoF stated that the management of outbound investment would become more practical and substantive.

By the time an investor registers with the SBV, they would already possess investment approval documents from the host country (such as an investment license, a certificate of incorporation, or a capital contribution agreement). At this stage, the investment activity is considered more "certain" and "verified."

Furthermore, abolishing the procedure would significantly cut administrative red tape, saving investors time and money. This is expected to boost the competitiveness of Vietnamese enterprises, allowing them to seize overseas investment opportunities more quickly.

The change would help local firms expand markets, develop raw material sources for domestic production, and contribute to the national economy, particularly amid rapid technological advancements.

This new approach would also enhance State management through foreign exchange controls. The SBV could quickly monitor and track the flow of investment capital and the repatriation of profits through the banking system. This would enable timely assessments and adjustments in case of impacts on the national balance of payments or foreign exchange reserves. The banking system would also be equipped to take prompt action against non-compliance, such as suspending fund transfers or freezing investment accounts in emergencies.

According to the Foreign Investment Agency under the Ministry of Finance, as of July 2025, Vietnam has 1,928 active outbound investment projects with a total registered capital of over $23.15 billion. Laos is the largest recipient of Vietnamese investment, with 275 projects totaling over $5.8 billion, followed by countries like Cambodia, with 219 projects valued at $2.94 billion.