Ha Noi outlines new policy to attract strategic investors

This policy forms a key part of the capital city’s strategy to attract major investors and generate breakthroughs in key sectors identified as driving forces for Ha Noi’s future economic growth.

Strategic investment is considered vital to Ha Noi’s economic development, particularly as the city has committed to focusing on sectors requiring strong financial capacity, technological expertise and innovation. Attracting major investors will create a pull effect, helping domestic enterprises to integrate into global value chains.

According to Nguyen Xuan Luu, Director of Ha Noi’s Department of Finance, the city aims to become a “civilised, cultured and modern capital,” leading in economic, social and scientific-technological development. Achieving this goal requires substantial resources, especially from investors with financial strength, technological capacity and advanced management experience.

Ha Noi is seen as having considerable potential and advantages in attracting strategic investors. Clause 1 of Article 42 of the 2024 Capital Law clearly outlines the list of priority sectors for strategic investment, aligning with the city’s development orientation and ensuring effective and targeted resource utilisation.

Clause 2 sets out specific conditions for strategic investors, including criteria related to financial capacity, technological capabilities, experience, and commitments to training, localisation, and project implementation. This framework enables Ha Noi to select genuinely capable and high-quality investors, avoiding ineffective or speculative investment.

The priority investment sectors approved by the municipal People’s Council highlight the city’s strategic direction for the coming period. These include: Development of satellite urban areas; Construction of urban and inter-regional mass transit systems, including metro lines; High-tech zones with investment capital from 25 trillion VND and above; Environmental pollution treatment projects requiring at least 12 trillion VND in capital.

Particularly noteworthy is the inclusion of key digital economy sectors such as semiconductor manufacturing, integrated circuit (IC) production, flexible electronics (PE), and new-generation battery technologies. With its favourable location, available infrastructure, and preferential policies, Ha Noi is well-positioned to become a hub for Viet Nam’s semiconductor industry.

Associate Professor Dr Tran Dinh Thien, former Director of the Vietnam Institute of Economics, praised Ha Noi’s potential but also emphasised the need for strong and globally competitive policy implementation. According to him, investment competition today goes beyond local comparisons and must be viewed through a global lens.

The city also prioritises sectors aligned with green and sustainable growth, including: New materials, clean and renewable energy (minimum 15 trillion VND investment); Manufacturing of locomotives, carriages, signalling and control systems for railways and smart cities (from 10 trillion VND); Innovation hubs and research and development (R&D) centres (from 3 trillion VND).

Across all sectors, strategic investors are required to demonstrate technological expertise and relevant experience with similarly scaled projects. Clearly defined conditions will enable the city to set stringent selection criteria, allowing for transparent evaluation and oversight of investment projects.

The Ha Noi People’s Committee is currently drafting detailed regulations on how information on strategic investment projects will be published, including investor qualification requirements and application dossiers.

Experts have noted that alongside investor incentives, the city must ensure it has adequate institutional capacity and enforcement mechanisms in place to monitor and evaluate investment performance. Only by doing so can Ha Noi realise its ambitious goals and ensure the quality and progress of key development projects.

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