For years, competitive labour costs and affordable production have helped make Viet Nam an attractive destination for foreign investment. But as digital transformation accelerates, sustainability moves higher up the corporate agenda and global supply chains continue to evolve, investors are increasingly looking beyond cost advantages. Instead, they are seeking industrial ecosystems that offer modern infrastructure, foster innovation, meet sustainability expectations and demonstrate long-term resilience.

For Viet Nam, the focus is shifting from attracting more foreign investment to attracting investment that can generate long-term economic value, promote technology transfer and strengthen national competitiveness.

This topic was the focus of Session 3, “Promoting FDI and Unlocking Capital for Industrial Park Development”, held as part of the Viet Nam Industrial Park Development Forum 2026 in Hai Phong on 10 July.

Opening the session, Mr. Truong Minh, Deputy Director General of the Foreign Investment Agency under the Ministry of Finance, said Viet Nam continues to strengthen its appeal as an investment destination.

As of 31 May 2026, total registered foreign investment had exceeded USD 24.8 billion, up nearly 35 per cent year on year. Disbursed FDI reached almost USD 9.8 billion, rising nearly 10 per cent and marking the highest level for the first five months of the year in recent years.

The figures also reflect a shift in the composition of FDI. A growing number of multinational companies are choosing Viet Nam for investments in semiconductors, electronics, data centres, artificial intelligence, research and development, clean energy and advanced logistics.

The shift is creating new demands on industrial parks. Rather than serving simply as manufacturing sites, they are increasingly expected to function as integrated hubs for production and innovation, combining industrial infrastructure, logistics, energy systems, digital connectivity and a highly skilled workforce.

According to Mr. Truong Minh, Viet Nam’s ability to remain competitive in attracting FDI will increasingly depend on its capacity to develop modern industrial ecosystems, supported by effective institutions, integrated infrastructure and diverse sources of financing. This will require a stronger transition towards green, eco-industrial and smart industrial parks, as well as closer ties between foreign-invested and domestic firms to increase localisation, promote technology transfer and expand the participation of Vietnamese businesses in global value chains.

Speaking from the perspective of sustainable industrial development, Ms. Le Thi Thanh Thao, UNIDO Country Representative, said the green transition should be viewed as a process of creating tangible and measurable value, rather than one centred solely on commitments or messaging.

She noted that as sustainability standards become an increasingly important factor in investment decisions and global supply chains, industrial parks seeking to attract international investors will need to progressively align with the principles and requirements of the International Framework for Eco-Industrial Parks. The transition must also be reflected in measurable outcomes, including stronger economic performance, more efficient use of resources, lower emissions and broader social benefits for both industrial parks and their tenant enterprises.

Moderated by Mr. Do Quang Huy, Senior Programme Officer at the Embassy of Switzerland in Viet Nam (SECO), the panel explored a key question facing Viet Nam: how can the country attract higher-quality investment that creates lasting value for its industrial development?

Speakers from UNIDO, IFC, ACCA, ICham, infrastructure developers and investment promotion agencies broadly agreed that the competitiveness of industrial parks in the years ahead will depend less on costs and investment incentives, and more on the strength of the ecosystems they are able to develop.

The session closed with a question from Mr. Do Quang Huy on the greatest value that FDI could bring to Viet Nam’s industrial parks over the next decade, a theme that resonated throughout the discussion and prompted wider reflections on the future direction of the country’s industrial development.

While perspectives differed, participants shared the view that eco-industrial parks are becoming an increasingly important platform for attracting higher-quality investment. The value of FDI, they argued, should not be judged solely by occupancy rates or the number of projects secured, but also by its ability to support environmental sustainability, strengthen small and medium-sized enterprises, foster innovation and create broader benefits for society.

Above all, participants stressed that high-quality FDI should be guided by a win-win approach, creating shared benefits for investors, Vietnamese businesses and society as a whole through a greener and more sustainable model of growth.

The forum reinforced a message that resonated throughout the discussions: the future of industrial development lies in greener, smarter and more competitive industrial ecosystems. Through the Global Eco-Industrial Parks Programme (GEIPP), UNIDO and the Swiss Government (SECO) will continue supporting Viet Nam in this transition, helping to build a modern and sustainable industrial sector that is more deeply integrated into global value chains.