Vietnam seeks innovation partners, not just investors, PM says

Vietnam is reframing its approach to attracting foreign capital, with national leadership emphasizing collaboration over conventional investment models. Rather than positioning the country solely as a manufacturing destination, policymakers are prioritizing partnerships that bring research, development, and innovation capabilities alongside production activities.

The strategic pivot was highlighted at the Autumn Economic Forum 2026, where officials outlined plans to develop advanced manufacturing sectors and green logistics infrastructure. The new framework aims to create value chains capable of competing at regional and global levels, moving beyond Vietnam's traditional role as a low-cost production hub.

Government messaging emphasizes a fundamental reorientation: international partners should "invest with Vietnam" and "manufacture in Vietnam" while simultaneously engaging in technology transfer and innovation initiatives. This approach addresses concerns that Vietnam risks being outpaced in high-tech sectors without deeper integration into global research and development networks.

The initiative reflects broader economic challenges facing Southeast Asia's second-largest economy. Competition from other regional manufacturing hubs and the need for technological upgrading have prompted policymakers to seek partners willing to establish research facilities and innovation centers alongside traditional factories, positioning Vietnam as a hub for higher-value economic activity.

Photo: Vietnamese Prime Minister Le Minh Hung during his visit to Russia, June 2026. Presidential Administration of Russia (kremlin.ru) via Wikimedia Commons (CC BY 4.0).