Vietnam’s outbound investment on the rise

In the crisp air of a Hanoi spring morning in April, Ms. Mai Trinh, Managing Director of a mid-sized Vietnamese electronics components firm, reviewed her company’s outbound investment. A long-term supplier to global giants operating at Vietnam’s industrial parks, rising domestic costs, supply chain diversification needs, and new free trade agreements have pushed her company toward the Lao market since last year. 

According to the latest figures from the National Statistics Office (NSO) at the Ministry of Finance (MoF), Vietnam’s outbound investment increased to $619.9 million in the first quarter of 2026, a remarkable 2.6-fold higher than the same period of 2025. This is a clear sign that Vietnamese businesses like Ms. Trinh’s company were no longer just developing the local market but were confidently exporting their own ambitions abroad. 

The NSO reported that Vietnam’s overseas investment in the first quarter included 48 newly-licensed projects with total Vietnamese capital of $597.2 million and four projects with additional capital of $22.8 million. 

Momentum built

Twenty-eight countries and territories received investment from Vietnam in the quarter, including Laos, which led with $176.7 million, accounting for 28.5 per cent of total investment; Kyrgyzstan with $149.9 million, or 24.2 per cent; the UK with $82.8 million, or 13.4 per cent; Angola with $30 million, or 4.8 per cent; the Netherlands with $29.4 million, or 4.7 per cent; and Sweden with $28.5 million, or 4.6 per cent. This geographic spread demonstrates the maturing ability of Vietnamese enterprises to balance familiar markets with promising new frontiers.

The momentum in the first quarter was built in 2025, when Vietnam’s total outbound investment stood at $1.36 billion, an 88.7 per cent increase from 2024. Vietnamese enterprises registered 173 new overseas projects with capital of some $1 billion, while injecting an additional $360 million into existing ventures. Flows reached 36 countries and territories, with manufacturing, electricity production and distribution, warehousing, and wholesale trade leading the charge.

One flagship story was Vingroup, Vietnam’s powerhouse conglomerate. Its automotive arm, VinFast, had already established manufacturing footholds in India and eyed expansion. On December 4, the company and the government of Tamil Nadu state signed an MoU to allocate approximately 200 ha of land at the SIPCOT Industrial Park in Thoothukudi, to support the development of the company’s existing facility. This milestone provides an opportunity for VinFast to broaden its product portfolio from electric cars to electric buses, e-scooters, and charging infrastructure, while reaffirming its long-term commitment to the world’s third-largest automotive market.

As the second phase of its existing $2 billion commitment, VinFast will invest $500 million in Thoothukudi to develop new dedicated workshops and production lines for electric buses and e-scooters, covering manufacturing, assembly, testing, and other related operations. Previously, on August 4, VinFast officially inaugurated its electric vehicle (EV) assembly plant at the SIPCOT Industrial Park. VinFast Tamil Nadu is the company’s third operational plant and the fifth project in its global manufacturing network. 

With the launch of the plant, VinFast moves closer to its 2025 sales target of 200,000 vehicles and its long-term production goal of 1 million vehicles a year by 2030. “We aim to develop it into VinFast’s largest export hub for South Asia, the Middle East, and Africa,” said Mr. Pham Sanh Chau, CEO of VinFast Asia. “In fact, we have already secured initial orders from several countries across these regions. In close collaboration with the Tamil Nadu government, VinFast is working to transform the area into the ‘EV capital of South Asia’ - supporting both the dynamic domestic market and our broader regional ambitions.”

In January, VinFast unveiled its international business strategy for electric scooters, identifying five key initial markets: the Philippines, Indonesia, India, Thailand, and Malaysia. This marks a significant milestone in its global expansion strategy and the continued development of its comprehensive green mobility ecosystem. Under the plan, VinFast will accelerate its global e-scooter expansion, beginning with the five high-potential markets above. These countries are characterized by strong urban mobility demand, favorable demographic dynamics, and an increasingly pronounced shift toward sustainable transportation solutions.

Meanwhile, the Viettel Military Industry and Telecoms Group (Viettel Group) announced in October the launch of Unitel Logistics in Laos, marking its strategic expansion into the logistics and international transportation infrastructure sector as it moves toward becoming a global tech corporation. After that, the Group inaugurated its first representative office in the United Arab Emirates, on November 20, marking an important milestone in the Group’s strategy to expand its international presence in the Gulf Cooperation Council (GCC) region. 

On March 16, the Hoang Anh Gia Lai Group (HAGL), in collaboration with Orient Commercial Bank (OCB) and the OCB Securities JSC, organized a workshop on the strategic development of 20,000 ha of sustainable coffee. The initiative marked a significant expansion of the company’s agricultural footprint across mainland Southeast Asia. The Group also unveiled a regional strategy to establish coffee plantations across Vietnam, Laos, and Cambodia by 2028.

With new projects and rising additional capital, these Vietnamese enterprises have been writing a new chapter for Vietnam - one of ambition and deeper integration into the global economy.

Trend accelerates

On April 3, the government issued Decree No. 103/2026/ND-CP regulating the conditions and procedures for granting registration certificates for overseas investment. The Decree consists of five chapters and 45 articles, detailing several provisions of the Law on Investment and measures to organize and guide the implementation of the Law in regard to overseas investment activities for business purposes, overseas investment procedures, and State management of overseas investment activities.

The Decree stipulates that the MoF will issue, amend, or terminate the validity of registration certificates for overseas investment in projects with overseas investment capital of VND7 billion ($266,000) or more, and projects in sectors subject to conditional overseas investment, as stipulated in Clause 1, Article 41 of the Law on Investment, except for projects specified in Article 18 of the Decree.

For projects with overseas investment capital of $64 million or more, or projects proposing the application of special support policies, the MoF will report to the Prime Minister for approval before issuing or amending the registration certificate for overseas investment. For projects already approved, no further reporting to the Prime Minister for consideration and approval is required when making adjustments to the project.

The Decree also specifies the dossier, procedures, and process for issuing investment registration certificates for projects not requiring the Prime Minister’s approval, and guides the procedures for issuing investment certificates for overseas investment.

The consideration and issuance of investment certificates for overseas investment do not replace the approval of overseas lending activities or guarantees for loans to foreign economic organizations, as stipulated by the Law on Foreign Exchange Management.

In cases where an overseas investment project involves a sector or profession subject to conditional overseas investment, the MoF will seek opinions from relevant agencies. Within seven working days of receiving the request for opinions, the consulted agency shall provide a written response to the Ministry.

According to experts, Decree No. 103 reflects a clear policy shift toward a more facilitative and business-friendly outbound investment environment. By simplifying procedures, reducing unnecessary approvals, and widening the scope for automatic registration mechanisms, the government has demonstrated a commitment to easing administrative burdens and aligning with international best practices. 

“This more open regulatory posture not only supports Vietnamese enterprises in expanding abroad but also strengthens Vietnam’s overall investment climate,” agreed Ms. Tram Pham, Senior Associate, and Mr. Thuan Dao, Associate, at consultants Alitium. “While investors must remain attentive to compliance obligations, the streamlined processes and broadened pathways introduced under the new Decree signal a strong and proactive effort by the State to encourage outward capital flows and foster global growth opportunities for domestic businesses.”