Quality at heart of policy upgrades

Vietnam’s supporting industries are seeing growing opportunities under new industrial policies, but meeting increasingly stringent global standards has become the biggest hurdle to joining multinational supply chains.

- By Nguyen Thu

According to a report released by Mirae Asset Securities Vietnam in June, Resolution No.10-NQ/TW marks a fundamental shift in Vietnam’s foreign direct investment (FDI) strategy. “It is moving from attracting investment by quantity to prioritising quality, technology transfer, and stronger links between foreign investors and domestic enterprises,” the report said.

Under Resolution 10, issued on June 8, and the government’s supporting industry development programme for the 2026-2035 period, Vietnam aims to have around 10,000 domestic enterprises participating in FDI supply chains by 2030, including 500-1,000 first-tier suppliers, while localisation rates in key industries are targeted at up to 50 per cent.

Nguyen Van, permanent vice chairman of the Hanoi Supporting Industries Business Association, said market opportunities remain abundant for qualified suppliers.