For the first time, Vietnam has implemented a special visa exemption policy for leaders of global corporations and top-tier experts. This move is expected to pave the way for a new wave of high-quality foreign direct investment (FDI), advanced technology transfer, and the arrival of highly skilled professionals.

With Decree No. 221/2025 officially taking effect on August 15, investors, corporate leaders, and executives from the world’s top enterprises are now eligible for visa-free entry into Vietnam. The list of eligible businesses is determined annually by reputable international organizations ranking the world’s 100 largest companies by market capitalization.

In addition to business leaders, the policy also applies to scholars, experts, scientists, professors from universities and research institutes, chief engineers, and top-tier digital industry professionals, as well as invited guests of universities and major enterprises.

The visa exemption period is valid for up to five years. Foreign nationals granted this special visa will receive a 90-day temporary residence certificate per entry, with extensions subject to consideration if needed.

According to Associate Professor Dr. Nguyen Thuong Lang, a senior lecturer at the Institute of International Trade and Economics, National Economics University, this is a pivotal move that directly facilitates the inflow of capital and high-quality human resources into Vietnam.

Lang explained that short-term visas are insufficient for investors, senior executives, and elite experts to feel confident in building long-term operations in Vietnam. He emphasized that extending the visa period (beyond the current 90-day limit) allows them to work, consume, and integrate more deeply with Vietnam.

He noted that each day a wealthy entrepreneur or international expert stays in Vietnam contributes significant economic value through luxury consumption, which boosts overall demand and creates more high-quality jobs. In recent years, numerous billionaires and large-scale investors have visited Vietnam. If they are treated well and experience a seamless visa process, they could become "invisible ambassadors" promoting Vietnam’s global image.

Lang also emphasized that the visa policy is only one element within Vietnam’s broader strategy under Politburo Resolution 50, which aims to attract $150-200 billion in FDI during 2021-2025 - equivalent to $30-40 billion annually. With FDI registrations reaching over $24 billion in just the first seven months of this year, the target is well within reach, despite global uncertainties.

However, Lang warned that regional competition is intensifying. Countries like Indonesia and India are aggressively improving their investment environments, particularly with competitive labor costs. Therefore, Vietnam must develop unique advantages beyond standard incentives - specifically, breakthrough policies targeting large multinational corporations and high-level talent. These groups bring significant capital, cutting-edge technology, global brands, and vast networks.

“If Vietnam can demonstrate true openness and offer practical incentives, it will not only attract investments but also become a desirable destination for these individuals and their families to live long-term,” Lang predicted. He added that if implemented holistically, the policy will not only draw major investors but also satellite companies and partners within their ecosystems - creating a powerful new investment wave.

Improving visa policies has long been a top request from foreign businesses in Vietnam. The Korean Chamber of Commerce and Industry in Vietnam (Kocham) has previously recommended diversifying visa categories, simplifying procedures, and introducing long-term visa options, including permanent residency for large-scale investors to minimize costs and administrative burdens.

Kocham also urged Vietnam to consider creating visa options for retirees as a strategy to attract long-term foreign capital.

Likewise, the European Chamber of Commerce in Vietnam (EuroCham) has proposed a visa exemption for all EU member states, along with special visas for conference, exhibition, and sports event attendees. EuroCham emphasized that streamlining immigration procedures is crucial for making Vietnam a top destination for tourists and investors - an essential factor for global economic integration.

PV