Multinationals signal strong intentions

Multinationals signal strong intentions

The commitments of numerous corporations to expand their investments in Vietnam are the fruitful results of the government’s efforts to broaden investment opportunities while actively supporting investors.

New facilities from big names are demonstrating their belief in Vietnam’s investment environment, Le Toan

Swire Coca-Cola last week inaugurated its manufacturing plant in the southeast province of Tay Ninh.With a total investment of $136 million and a production capacity of one billion litres of beverages per year, this is not only Coca-Cola’s largest facility in Vietnam but also the first food and beverage plant in the country to achieve LEED Gold certification for green building standards.

“Beyond investing in infrastructure, this plant reflects our dedication to sustainable development and our aspiration to make meaningful contributions to the communities we call home across Vietnam,” said Milly Cheng, general director of Coca-Cola Vietnam.

According to Cheng, the inauguration of the Tay Ninh plant marks a significant milestone in Coca-Cola’s journey in Vietnam.

“This state-of-the-art facility, blending innovation and sustainability, demonstrates our strong belief in Vietnam’s immense growth potential and our long-term investment commitment here,” she added.

Coca-Cola is not the only one with confidence in Vietnam’s market potential. Lego Group from Denmark inaugurated its $1.3 billion factory in Binh Duong (now part of Ho Chi Minh City) in early April, while Syre Group from Sweden recently invested $1 billion in a project in Binh Dinh, now incorporated into Gia Lai province.

Likewise, in early June, Jeffrey Perlman, chairman of Warburg Pincus, met with Minister of Industry and Trade Nguyen Hong Dien and reaffirmed his firm’s long-term investment commitment to Vietnam while advocating for stronger Vietnam-US bilateral economic and trade relations.

Such commitments from numerous investors explain why Vietnam’s foreign direct investment (FDI) inflows remain robust. In the first six months of the year, registered FDI reached nearly $21.52 billion, a 32.6 per cent increase compared to the same period last year - the highest since 2009. Disbursed FDI amounted to $11.72 billion, the highest for the first half of any year in the past five years.

“These figures as evidence of Vietnam’s success in attracting foreign investment,” said Deputy Minister of Finance Nguyen Duc Tam at the Coca-Cola plant inauguration. “While concerns about tax policies are real and may cause some foreign investors to be cautious in disbursing funds, particularly for large-scale, long-term projects, Vietnam retains significant advantages in the global race to attract FDI. These include a favourable investment and business environment and, most importantly, the Vietnamese government’s commitment to supporting investors.”

In addition, at Techcombank’s International Investment Conference 2025, Deputy Prime Minister Ho Duc Phoc stated, “The government is committed to accompanying both domestic and foreign investors. We call on investors to actively invest in Vietnam, particularly in high-tech, energy, processing, services, and financial investment sectors.”

To sustain the momentum in attracting major foreign investors, the Ministry of Finance is proactively implementing several solutions within its authority. These include developing tailored policies to promote high-potential economic zones such as Van Don and Van Phong, free trade zones, border economic zones, and regions outlined in various resolutions.

Additionally, the ministry is urgently establishing national and provincial investment one-stop portals to streamline processes. It is also promptly addressing obstacles and recommendations for major foreign-led projects to expedite investment procedures and project progress.

In a significant move to create breakthroughs in attracting FDI, the National Assembly has passed a resolution on establishment of international financial centres in Vietnam, effective from September 1 (see Page 9).

“To implement this, the MoF must issue decrees on the hubs and on capital-related matters. The Foreign Investment Agency (FIA) is requested to promptly prepare and report,” said Deputy Minister of Finance Nguyen Thi Bich Ngoc.

The FIA is likely to establish dedicated task forces to directly negotiate and support major corporations such as Nvidia and SK in investing in Vietnam, Ngoc added.

“It should proactively approach and invite potential investors in key sectors like high-tech, IT, and high-quality services, Deputy Minister Ngoc said. “Efforts should also focus on creating a cohesive and robust system of preferential policies to prioritise investments in high-tech fields such as AI, smart supply chains, renewable energy, and green technology.”

VIR