Beyond FDI, Vietnam leverages foreign resources to build up domestic capacity
Hanoi, July 9 -- Nearly 40 years after opening its economy to tap international resources for national development, Vietnam is shifting its focus from simply attracting more foreign investment to using it more effectively to strengthen domestic capacity, enhance competitiveness and bolster economic self-reliance, the central message of the Politburo's Resolution No. 10-NQ/TW. The adoption of the Foreign Investment Law in 1987 ushered in a new development vision for Vietnam. Moving away from a largely closed economy, the country embraced integration into the world as part of the Doi Moi (Renewal) process. The immediate priorities were to break the blockade and embargo, and attract capital, technology and management expertise to gradually r...
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