Hà Nội is shifting its foreign investment strategy as it seeks to become a major center for technology, innovation, and research in Asia. City leaders are moving away from attracting investment based mainly on volume and are now focusing on high-value projects that can support long-term economic growth.
For more than three decades, Hà Nội has been one of Việt Nam’s top destinations for foreign direct investment (FDI). Since opening its economy to foreign investors in 1989, the city has attracted about $74.6 billion in FDI through more than 9,200 projects.
However, much of that investment has traditionally gone into real estate, trade, services, and labor-intensive industries. Officials say investment in advanced technology, research and development, and technology transfer has remained below expectations.
City leaders now want to create a stronger connection between foreign investors and local businesses. They believe this approach can help boost innovation, increase technology transfer, and strengthen domestic industries.
Under a new development strategy, Hà Nội plans to attract a new generation of FDI focused on technology, sustainability, and innovation. The city aims for 50 percent of newly attracted foreign investment by 2030 to flow into high-tech industries, research, innovation, and green sectors.
Officials also want about 80 percent of new foreign investment to come from developed economies. The goal is to improve the quality of investment while supporting the city’s long-term economic transformation.
Hà Nội plans to increase localization rates in key industries to at least 45 percent by 2030. The city also hopes to connect around 350 domestic companies with the supply chains of foreign-invested enterprises.
Another target is attracting at least 10 multinational corporations to establish headquarters, regional offices, or research and development centers in the capital.
By 2045, city leaders want the foreign-invested sector to be deeply integrated with both private and state-owned businesses. Officials expect the sector to contribute around 15 percent of the city’s gross regional domestic product.
Key investment priorities include semiconductors, chip design, artificial intelligence, biotechnology, cloud computing, big data, advanced materials, quantum technology, green technology, and data centers.
Smart logistics, international finance, and research activities are also expected to play an important role in the city’s future growth model.
Officials say the objective is not simply to attract more money. Instead, the focus is on using foreign investment to strengthen domestic technological capabilities and create new engines of economic growth.
The strategy comes as Hà Nội targets average annual economic growth of more than 11 percent between 2026 and 2035. The city aims to build an economy worth about $200 billion by 2035 and approximately $640 billion by 2045.
Recent investment trends suggest progress toward these goals. During the first six months of 2026, Hà Nội attracted about $3.16 billion in foreign investment. Around 72 percent of that investment went into professional services, science, and technology sectors.
The city plans to attract $25 billion in FDI between 2026 and 2030. This would be more than double the amount recorded during the previous five-year period.
Despite strong ambitions, officials acknowledge several challenges. Competition from neighboring industrial centers remains intense. Cities and provinces such as Hải Phòng, Bắc Ninh, and Quảng Ninh continue to attract large amounts of investment.
Infrastructure is another concern. Reliable electricity, advanced digital networks, and modern facilities are essential for industries such as artificial intelligence and data centers.
Administrative procedures, land costs, and limited connections between foreign companies and local businesses also remain obstacles.
Experts believe that workforce development may be the biggest challenge. High-tech industries require skilled workers who can meet international standards immediately.
As demand grows for specialists in semiconductors, AI, and advanced technology, Hà Nội faces a shortage of highly trained professionals.
To address this issue, the city plans to strengthen cooperation between universities, research institutes, businesses, and government agencies. Training programs will be aligned more closely with future industry needs.
Foreign companies will also be encouraged to help design training programs, offer internships, and support workforce development.
Hà Nội is introducing additional incentives to attract international experts, senior engineers, and overseas Vietnamese professionals. These efforts are expected to help build a stronger technology ecosystem and support the city’s transition toward innovation-led growth.
Officials say success will no longer be measured only by investment totals. Instead, it will be judged by innovation, technology transfer, stronger local businesses, and improved quality of life for residents.
