INVESTMENT PHILOSOPHY CONCERNING VIETNAM’S LEGAL AND CONTEXT: CONTRADICTIONS, LIMITATIONS, AND PHILOSOPHICALS TO BE SHAPED

Abstract

As Vietnam’s economy gradually transitions toward a sustainable development model and deepens its integration into the global economy, building an effective, transparent, and practically grounded legal framework for investment becomes an urgent imperative. This study focuses on clarifying the substance and role of investment philosophy, understood as the foundational value system that governs investment decisions and policymaking, in shaping and enhancing Vietnam’s investment legal system. By analyzing classical development philosophies (justice, freedom, sustainability, intergenerational responsibility, etc.) in conjunction with modern legal theories of investment, the study highlights the dialectical relationship between philosophy, institutions, and law. Through an examination of current legislative instruments such as the 2020 Law on Investment, the 2019 Law on Public Investment, the 2020 PPP Law, and key political documents such as the XIIIth National Congress of the Communist Party of Vietnam, the study identifies philosophical expressions, limitations, and voids in Vietnam’s current investment legal system. Based on this, it recommends institutionalizing a coherent investment philosophy that is distinctly Vietnam’s yet aligned with international norms, thereby fostering an investment landscape committed to sustainability, equity, and innovation.