An FDI Expert Bringing Together Viet Nam & Investors
In his nearly 40 years of work, Dr. Phan Huu Thang has witnessed and made contributions to boosting the initial flow of foreign direct investment into the country. For him, behind every project is an investor who needs support and a partnership that must be fostered and cherished.
Paving the way for FDI
Born in Hanoi in 1949, Dr. Thang graduated from university in the Soviet Union in 1973 and got a PhD in maritime transport economics in 1985. He worked for 38 years at state agencies, including the State Planning Commission, the State Committee for Cooperation and Investment, and the Foreign Investment Agency under the Ministry of Planning and Investment (now Ministry of Finance), where he served as General Director.
As Viet Nam began attracting international investment, Thang’s work went beyond appraising and licensing projects. He built trust, while understanding the needs of foreign investors and helping them see opportunities in a new market.
Japan, South Korea and many other countries have gradually become Viet Nam’s important investment partners. Foreign investment brought about industrial parks, factories, supply chains and jobs.
In recognition of his contributions to the Viet NamJapan investment cooperation, Thang received the Order of the Rising Sun from the Japanese government in 2018.
The most meaningful achievement for Thang is when an investor finds the right opportunity in Viet Nam, a business solves its problem, or a partnership built from his connections.
An example is his long-standing friendship with Kim Jung In, a South Korean businessman who has worked in Viet Nam for more than 30 years. They first met in the 1990s when South Korean investors began showing interest in the Vietnamese market. Over the years, they have become not only project partners but good friends, jointly witnessing Viet Nam’s economic growth and integration.
Building Connections Through Research
Upon leaving government service, Dr. Thang founded Vietnam Desk, which provides consultancy for, and connections between, Vietnamese and foreign businesses.
After retiring, he has continued his consultancy work for businesses. His knowledge about FDI and working with foreign investors are valuable records of Viet Nam’s international economic integration.
Thang has documented his expertise in several books, including An Overview of 20 Years of Foreign Investment in Viet Nam; FDI - Two Sides of a Coin; FDI - Aiming for High Technology; and FDI - A Dual Mission in the New Context. The last book won B prize at the 2022 National Book Awards.
This year, Thang is doing his doctoral dissertation on FDI at the University of Tokyo in Japan, which is scheduled to be completed in January 2027.
At his office, filled with charts of the development of FDI in Viet Nam, Thang explained, “These charts remind me of the country’s development and its progress in international cooperation. They are also the motivation for me to keep working.”
For Dr. Thang, FDI figures are not simply economic records. They tell the story of how Viet Nam has opened up to the world, becoming a reliable partner for international investors.
Story: Bich Van Photos: Tran Thanh Giang/VNP & FILES