According to overseas Vietnamese businesspeople, a healthier investment environment and more transparent policies have built up trust among overseas Vietnamese in their efforts to invest in the homeland.

“Although we are running a business in Russia, we turn our hearts to the homeland,” said Tran Thi Thai, an overseas Vietnamese businesswoman in Russia. “We still maintain regular Party meetings and educate our children so that they will make further contributions to the homeland.”

Overseas Vietnamese are now more aware of their responsibility to contribute to the nation. This stems from the renewal of policies for overseas Vietnamese towards transparency and openness to develop the strength of nearly three million Vietnamese nationals residing abroad. These policies help them do something for the fatherland through practical activities in the hope that the national economy will further develop and Vietnamese goods will be more competitive.

In addition to remitting their investment to the homeland, overseas Vietnamese businesspeople serve as an important information and delivery channel for domestic enterprises to penetrate overseas markets. They help domestic enterprises identify the demands and tastes of overseas markets to grasp business opportunities.

To date, the Party and State have issued many preferential policies to support overseas Vietnamese, especially businesspeople and intellectuals, in investment and co-operation activities. They include the Party Politburo’s resolution on work relating to overseas Vietnamese, the Common Investment Law, and the Unified Enterprise Law. They also include the increase in the investment rate of foreign businesses on the bourse, and a master plan to encourage overseas Vietnamese to return and work in the homeland.

However, more open and transparent policies should be formulated to attract more investment from overseas Vietnamese. Last year, overseas remittances through official channels reached between US$3.8-4 billion, a year-on-year increase of 20-25 percent. The figures heralded a positive signal for Vietnam in attracting more investment from Vietnamese nationals residing and working overseas in the coming years. 

Besides perfecting the legal framework, relevant agencies will continue to provide more information for overseas Vietnamese and boost the role of State agencies in creating close links between overseas Vietnamese businesspeople and intellectuals with domestic organisations and businesses. This will create a new impetus for investment activities by overseas Vietnamese, contributing to national construction and development.