Finance Minister Ngo Van Tuan told lawmakers that Vietnam cannot achieve growth without foreign direct investment. This warning highlights why the country’s future economic strategy depends heavily on attracting overseas capital.

The five‑year financial plan projects that capital needs for 2026‑2030 will be 2.67 times higher than those for 2021‑2025, creating an enormous demand for financial resources, especially FDI. To keep double‑digit growth, Vietnam must lower its incremental capital‑output ratio from 6.4 to between 4.5 and 4.8.

As of August, Vietnam had about 47,796 active foreign direct investment projects. Those projects hold roughly $561.6 billion in registered capital, providing a major source of resources for development.

Vietnam faces intense competition from regional economies such as India, the Philippines, Thailand, Indonesia, Malaysia and Singapore. Finance Minister Ngo Van Tuan said this rivalry makes it essential to improve the investment environment.

Without continued inflows of foreign investment, Vietnam’s ambitious growth targets are unlikely to be met. Strengthening the investment climate and reducing the ICOR remain the key steps for sustaining the country’s economic momentum.