This chapter discusses the challenges faced by Viet Nam in terms of women’s economic inclusion and assesses the potential of FDI to close gender gaps in the labour market. It provides an analysis of the institutions and policies that support the positive impacts of FDI on gender equality and women’s empowerment, focusing on institutional arrangements and policies at the intersection of gender mainstreaming, labour market, entrepreneurship and investment policies.
FDI Qualities Review of Viet Nam
Powering the Next Growth Phase
Abstract
Viet Nam’s economic transformation and rapid industrialisation has led to a surge of foreign direct investment (FDI) since the late 1980s. An abundant and low-cost labour force has positioned Viet Nam as an attractive destination for foreign investors (OECD, 2018[1]). In addition, targeted policy initiatives to ensure equal access to education has helped supply a high-quality labour force of both men and women (IMF, 2018[2]). Viet Nam now boasts one of the highest rates in the world for women’s labour force participation. Against this background, foreign multinational enterprises (MNEs) played an increasingly significant role in generating female employment, with nearly one in two women in formal employment working for an MNE.
FDI has brought positive contributions to female employment, accounting to nearly one in two formal jobs for women. Growing FDI in the manufacturing sector has been a key driver of female employment, particularly in leather- and garment-making, and in the fast-growing electronics sector. Around 90% of female workers at foreign firms are engaged in manufacturing. Although services sectors represent a smaller share of female employment at foreign firms, their contribution is steadily growing. On average, foreign firms have higher shares of female employees than domestic peers in all sectors of the economy except mining and quarrying, electricity generation, and water and waste management.
While foreign firms serve as key employers of women, the quality of job opportunities they provide remains low, with limited career progression, particularly in male-dominated sectors. While women have a significant presence at foreign firms, and particularly in the manufacturing sector, they remain significantly underrepresented in management and ownership roles in comparison to domestic firms. Foreign firms are half as likely to have a female top manager or owner as domestic firms. On average, foreign firms pay higher wages than their domestic peers across all sectors, but such foreign wage premiums are highest in male-dominated sectors and tend to be lower in sectors with higher representation of women. In the manufacturing sector, foreign firms pay on average 20% higher wages than domestic firms, in comparison to around 155% higher in the male-dominated construction sector and 194% in mining and quarrying. The uneven geographical distribution of FDI may also aggravate gender disparities, as FDI enterprises tend to locate themselves in urban centres, leaving women in rural areas with fewer opportunities to benefit from FDI, while at the same time creating social costs to those choosing to migrate and seize those opportunities. There is room to channel FDI to sectors with untapped potential for increasing women’s employment and job quality. This includes certain service sectors such as education and health and social work, financial, banking and insurance activities, information and communication, and accommodation and food services. Strengthening women’s skills will enable them to meet industry needs in key FDI sectors, such as digital and high-tech technologies or green sectors.
Viet Nam is progressively integrating gender considerations into its policy and institutional framework, but challenges remain. Enhancing the impact of FDI on gender equality requires a conducive policy and institutional framework, particularly as Viet Nam seeks to attract investment in knowledge-intensive and higher value-added sectors, where women’s potential remains untapped. Encouragingly, Viet Nam has shown commitment in incorporating women’s economic empowerment in national strategies and plans, but the role of FDI in advancing gender equality could be more clearly defined. Similarly, gender considerations remain absent from certain horizontal strategies and plans, such as strategies documents addressing the digital transformation. In addition, co-ordination between bodies responsible for investment and gender equality, namely the Ministry of Finance (MoF) and the Ministry of Home Affairs (MoHA), could be strengthened to ensure that investment promotion and facilitation efforts seek to address, rather than exacerbate, gender disparities. Tax incentives aimed at increasing women’s participation in certain sectors may disqualify many firms due to complex conditions, within a broader incentive framework that is already intricate for foreign investors to navigate.
Viet Nam has demonstrated strong commitment in creating a conducive legal framework for women’s economic participation. For instance, the Law on Gender Equality of 2006 establishes the principle of gender equality across various domains, such as education, employment and family life. Women’s economic participation is reflected in other key laws and regulations, including the Labour Code of 2019 and its subsequent revisions. While Viet Nam has a conducive legal framework for women’s employment, compliance with domestic laws could be strengthened, including among foreign firms. In addition, social institutions (i.e. informal laws, social norms and practices) perpetuate traditional gender roles and continue to shape women’s education and career decisions.
Viet Nam is a signatory to two international investment and trade agreements that include provisions encouraging a positive contribution of FDI on gender equality. The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) free trade agreement includes provisions to encourage parties to co-operate on the skills development programmes of women and adopt domestic regulations and practices towards the elimination of gender discrimination in employment. The EU-Viet Nam Free Trade Agreement (EVFTA) includes provisions that call on parties to fulfil their obligations under the ILO Declaration, including on the elimination of gender discrimination in employment. While positive, the provisions have little to no binding force. Moving forward, Viet Nam is encouraged to favour provisions that envisage, more clearly, the contribution of FDI in the advancement of gender equality, and allow for some degree of enforceability.
Viet Nam could strengthen the link between investment and gender equality in national strategies and policies. Women’s economic empowerment is reflected in several national strategies of Viet Nam, including the National Strategy on Gender Equality for 2021-2030, but the role of FDI in supporting gender equality could be made more explicit. More broadly, all national strategies and plans, should incorporate a gender perspective to foster women’s economic empowerment in all economic areas, including strategies relevant to the digital transformation, where gender considerations are currently limited.
Improve co-ordination between government institutions responsible for gender and investment policies. Greater co-ordination between MOF and MOHA would help ensure that gender considerations are systemically integrated into investment-related laws, fiscal incentives, and promotion strategies. Viet Nam may also consider expanding financial and technical support to government personnel, including the Department of Youth and Gender, to mainstream gender considerations to programmes, policies and laws.
Expand on skills development programmes to enable women to support Viet Nam’s economic transformation and seize opportunities within foreign companies. Targeted programmes that develop women’s digital and soft skills, including management capacities, will support women’s career advancement prospects and allow them to take advantage of new employment opportunities created by FDI.
Reinforce the legal framework for women’s economic empowerment by strengthening anti-discrimination, expanding paternity leave, reducing barriers to formality, while at the same time improving compliance. Viet Nam could consider adopting targeted measures such as quotas to increase women’s representation in senior positions at both domestic and foreign firms.
Consider easing regulatory FDI restrictions in female-intensive sectors such as financial services. Viet Nam maintains regulatory FDI restrictions in the financial services sector, including banking, where women are strongly represented. Other restrictions are placed on the telecommunications sector which features strong female representation. Easing FDI restrictions on these sectors would help create new employment opportunities for women and offer broader workforce benefits, such as increased skills diffusion.
Ensure co-ordination of investment promotion initiatives and consistent application of policies by provinces. The concentration of FDI in urban centres may compound gender inequalities, in the form of fewer opportunities for women in rural areas, and increased social costs for those who migrate. The Foreign Investment Agency (FIA) could concentrate efforts on aligning investment promotion initiatives between provinces to support a more equitable distribution of FDI and reduce gender disparities.
Reassess current investment tax incentives tied to gender equality objectives. Viet Nam is one of the few countries offering a tax incentive to advance women’s job quality and skills, but current conditions attached to the tax incentives are complex and may disqualify many firms in the targeted sectors. Viet Nam may also re-assess if the tax incentives address current gender-based barriers in the labour market or align with priority sectors for investment. Existing tax incentives for high-tech industries may exacerbate gender disparities if gender targets are not embedded to advance women’s participation in those industries.
Continue to incorporate gender equality provisions in international investment agreements. Viet Nam would benefit from favouring provisions that envisage, more clearly, the contribution of FDI enterprises in supporting gender equality, while ensuring scope for enforceability. Viet Nam may also consider including responsible business conduct in efforts to promote linkages between MNEs and domestic enterprises, and provide industry-specific training programmes for supporting industries.
The labour force participation rate for Vietnamese women is one of the highest in the world. Viet Nam ranked 25th out of 146 countries in terms of women’s economic participation and opportunity in 2025 (WEF, 2025[3]). According to the ILO data based on the 19th ICLS definition, close to two thirds of women or 62.1% in Viet Nam were employed in 2024, compared to 73.7% for men (Figure 5.1, Panel A). Encouragingly, the female labour participation rate surpasses all comparator economies selected for this study and the OECD average of 53.8%. Beyond their strong presence in the labour market, women’s workforce participation is nearly on par with men. The gender gap in labour participation in Viet Nam, which reached 11.6% in 2024, lower than the OECD average of 14.9%. Against the backdrop of women’s strong representation in the labour market is a conducive policy and legal framework for their economic participation, safeguarding equality and non-discrimination in the labour market.
Viet Nam’s labour market is also characterised by high informality rates for both men and women. In 2024, the overall informal employment rate was nearly 65%, and slightly higher for men at 68% than women at 61%, according to ILO data based on the 19th ICLS definition (2026[4]). Viet Nam’s informal employment rates for women remain higher than several comparator countries such as Georgia, Jordan, Türkiye and Portugal, but below Egypt (Figure 5.1, Panel B). This indicates that, while the labour force participation rates are high for both men and women, formal employment remains a small part of total employment (OECD, 2023[5]). Although informality is more prevalent in men’s employment, women in informal employment face more precarious working conditions, given their overrepresentation as contributing family workers in the agricultural sector (UN Women, 2021[6]). Informality in Viet Nam also limits women’s access to comprehensive social protection and reduces their opportunities for training and financial resources (UN Women, 2024[7]).
Note: Panels A and B include data based on the 19th ICLS definition.
Source: OECD calculations based on ILO (2026[4]) ILOSTAT, https://ilostat.ilo.org/data.
Women’s employment is heavily concentrated in certain sectors, and often reflecting gendered patterns (Figure 5.2). In 2024, the manufacturing sector accounted for nearly a quarter of total female employment, making it the single largest employer for women. Within manufacturing, female employment is particularly concentrated in wearing apparel (9% of total female employment) and leather and related products (5%), together accounting for nearly half of all women working in manufacturing. Smaller but still significant shares of women are employed in computer and electronic manufacturing (2%), food manufacturing and textiles (3% each) (ILO, 2026[4]). Beyond manufacturing, women’s employment is also significant in select service sectors. Wholesale and retail trade accounts for around 18% of female employment, while accommodation and food service activities employ a further 9%. Employment in education represents approximately 6% of total female employment, reflecting the strong gender concentration in social services. Other sectors, such as construction and healthcare, account 2% of female employment each. Once the most significant employer for women, the agriculture sector now accounts for 23% of female employment as of 2024. Viet Nam’s transition from central planning to a market-based economy has driven the reduction in female employment in the agriculture sector, and the corresponding shift towards industry and services, which remains a national priority reflected in strategic documents.
Gender imbalances are not only evident across sectors, but also in many occupations. In Viet Nam, women are more likely than men to work in elementary occupations, or as clerks, service and market sale workers, technicians and associate professionals (NSO, 2021[8]). Underlining the occupational segregation is the fact that nearly 80% of women are classified low- or under-skilled (UN Viet Nam, 2023[9]). Opportunities for career advancement are also more limited. In 2023, only 28% of middle- and senior- management positions were filled by women (ILO, 2023[10]). When women do reach middle- or senior-management positions, their employment is disproportionately concentrated in support functions, such as human resources and finance and administration (ILO, 2020[11]). Women’s political representation in Viet Nam remains modest, with women making up 30% of parliamentary seats in 2023. This is higher than the global average of 27% and the Southeast Asian average of 22% (OECD, 2024[12]). Ensuring women’s full and equitable participation in the labour market is an essential condition to Viet Nam’s economic transformation and path to high income status.
Female employment distribution by economic activity, 2024
Source: OECD calculations based on ILO (2026[4]) ILOSTAT, https://ilostat.ilo.org/data.
Viet Nam has shown strong commitment to ensuring equal access to education, but women remain underrepresented in certain disciplines. The adult literacy rate for women reached 95.7% in 2023, compared to 97.5% for adult men (NSO, 2023[13]). Gender gaps in basic education have been nearly eliminated (NSO, 2023[13]), while at the tertiary level, the gender gap in enrolment is 2.7% in favour of women (World Bank, 2022[14]). The enrolment rates of Vietnamese women in tertiary education are nearly equal to the ASEAN regional average. In terms of academic performance, the OECD Programme for International Student Assessment (PISA) results indicate that Vietnamese girls perform close to or slightly higher than boys in reading, mathematical and scientific literacies (Table 5.1). Girls’ scores are higher than their peers in all comparator economies1 except Portugal and Poland and exceed the average for ASEAN economies. However, women are less likely to pursue certain fields, including STEM, where only 36.5% of female tertiary education graduates specialised in STEM fields in 2016 (World Bank, 2025[15]). Assessing more recent gender gaps in STEM education remains challenging due to lack of sex-disaggregated data on women’s enrolment in these fields (UN Women, 2021[6]). Similarly, gender disparities persist in vocational education enrolment, with studies indicating structural barriers hindering women’s participation, and requiring gender-responsive policies in the vocational education system (ADB, 2017[16]).
Performance on PISA tests, mean score by sex (2022)
Note: A higher score corresponds to a better performance. The OECD’s Programme for International Student Assessment (PISA) is a
standardised assessment of reading, mathematics and science skills administered to 15-year-old students. ASEAN economies include Brunei Darussalam, Indonesia, Malaysia, Philippines, Singapore, Thailand, Cambodia, and Viet Nam.
Source: OECD (2023[17]), PISA 2022 Results (Volume I): The State of Learning and Equity in Education, https://doi.org/10.1787/53f23881-en.
Societal norms and expectations continue to play a major role in shaping women’s career choices. While the domestic legal framework in Viet Nam ensures equal rights between men and women in almost all aspects of life, social institutions (i.e. informal laws, social norms and practices) perpetuate traditional gender roles. According to the OECD’s Social Institutions and Gender Index (SIGI), 78% of the population think that children suffer when their mother works for pay, and 52% think that men should be given priority to jobs when those are scarce (OECD, 2024[12]). Gender biases also impact demographic trends. Viet Nam ranks third to last of 146 countries on health and survival due to gender-biased sex selection and a sex ratio at birth of 113.6 boys for every 100 girls (WEF, 2025[3]; UN Women, 2024[7]). Women also shoulder a disproportionate share of unpaid care work, spending on average 2.3 hours per day, or 1.8 times, more than men on unpaid care and domestic work (UN Women, 2024[7]). These societal norms and expectations influence women’s educational and employment decisions, leading them to prioritise career opportunities offering greater flexibility over roles with better career advancement prospects and competitive wages (Coppola et al., 2024[18]). Social perceptions materialise in patterns such as the concentration of women in low-value-added sectors (e.g. labour-intensive manufacturing, education, health, and social services) and part-time employment. As a result, societal barriers can limit women’s ability to fully benefit from job opportunities generated by FDI.
While women enjoy a strong presence in the workforce, they do not benefit from work of equal quality or value, and this includes wages and non-wage working conditions (e.g. job security, occupational health). In 2023, the gender pay gap in average monthly wages in Viet Nam amounted to 13.9%, higher than the OECD average of 11.9%2 (OECD, 2025[19]; NSO, 2023[13]). In nominal terms, women earned an average monthly earning of 6.9 million VND in 2022, in comparison to 7.9 million VND for men. This pay gap remains consistent across all sectors of the economy, and persists even when women’s educational attainment or qualifications are on par to those of men (NSO, 2022[20]). When it comes to gender equality in the workplace, the revised Labour Code of 2019 codified certain rights and guarantees for Vietnamese women, including the right to six months of paid maternity leave, stronger protection against sexual harassment in the workplace, and extended access to childcare facilities. However, only 35% of the population were covered by social insurance as of 2023 (NSO, 2023[21]), and this coverage is effectively lower for women as they are less likely to be in the labour force (UN Women, 2021[6]). The revised Social Insurance Law, effective July 2025, is expected to expand coverage by increasing legal coverage to new groups of workers and by extending maternity benefits to eligible voluntary participants (National Assembly of Viet Nam, 2024[22]). Female employment is also concentrated in sectors and locations that create precarious working conditions for women. In industrial zones, where foreign investors tend to locate themselves, one study found that 80% of women over 35 either lose their jobs due to production restructuring or voluntarily leave due to difficult working conditions (NSO, 2022[23]).
Foreign investment can create distinct gender-based effects in the local labour market, with important outcomes on women’s economic empowerment. The impact of FDI on gender equality occurs through several channels, of which the most direct is the hiring practices of affiliates of foreign multinational enterprises (MNEs), including recruitment, wages, promotion, and training (Box 5.1). Foreign firms can also induce domestic peers to adopt more gender-inclusive employment practices through competition and imitation effects. In Viet Nam, for example, the presence of foreign firms in traditionally male-dominated industries has been found to encourage the hiring of women by local firms (Nguyen, 2021[24]). This section examines the key channels in which FDI contributes to gender equality and women’s economic empowerment in Viet Nam, with a focus the employment practices of MNEs and the quality of job opportunities available for women.
Direct investment by foreign MNEs generates multiple gender-specific effects in the labour market of host countries. FDI influences the relative demand and prices of factors of production, including labour. Since men and women have different preferences and skill sets due to policy and non-policy factors (taxation, social and cultural norms, etc.), and different industries employ different intensities of male and female labour, FDI generates shifts in the relative demand for labour by gender and changes the employment and wages of women and men differently. FDI can also influence other dimensions of gender equality and women's empowerment in the labour market, such as women's non-wage working conditions (e.g. job security, occupational health) and prospects for skills development and career advancement (e.g. training, promotion) The operations of affiliates of foreign MNEs can also have significant implications for local women entrepreneurs (green box in Figure 5.3).
Source: OECD elaboration.
FDI can influence the above gender outcomes through the direct operations of foreign MNEs or indirectly through supply chain linkages and other market interactions with domestic firms. The literature identifies four main transmission channels of FDI impacts on gender outcomes (yellow box). These are:
MNE direct activities. FDI affects women in host countries mainly through the direct employment activities and practices of foreign MNEs (recruitment, remuneration, training, promotion, etc.).
Value chain relationships. FDI can create jobs for local women in domestic companies through business opportunities generated with local suppliers (i.e. vertical linkages) or through global value chains (e.g. through subcontracting or outsourcing). Through value chain relationships, FDI can also generate new business prospects for local women entrepreneurs.
Competition and imitation effects. Foreign MNEs compete with local firms both in product markets (crowding-out) and in labour markets for local talent. Especially in female-dominated sectors, competitive pressures from foreign MNEs can lead to job losses for women if domestic firms downsize or close down. As women-owned firms are generally smaller and less productive than those owned by men, they are also more likely to be negatively affected by foreign competition. Imitation effects occur when domestic firms imitate the business practices of the MNE, including practices in relation to gender.
Labour mobility. This involves movements of women workers from foreign MNEs to domestic enterprises or the start-up of enterprises by women previously employed by foreign MNEs. Women could also use the knowledge gained at the foreign MNE to set up their own company.
The direction and magnitude of gender-specific FDI impacts depend on several factors, including the types of FDI (e.g. efficiency-seeking FDI vs market-seeking FDI), the sector in which the investment takes place (e.g. female-dominated vs male-dominated), and the policy and non-policy framework conditions of the host country (blue box). Non-policy framework conditions refer to the level of socio-economic development of the host country, including prevailing gender norms and values. Policy framework conditions include a broad set of policies at the intersection of gender equality and investment promotion.
Source: OECD (2022[25]), FDI Qualities Policy Toolkit, https://doi.org/10.1787/7ba74100-en.
5.3.1. Foreign firms account for nearly half of women’s formal employment in Viet Nam
In Viet Nam, FDI contributes to nearly one in two jobs created for women in the formal economy. In 2023, foreign firms contribute with nearly 43% of all female employment, a substantial increase since Viet Nam’s transition to a market-based economy. Nearly two decades earlier, FDI-supported employment for women was a third of total female employment (33% in 2006) (Figure 5.4, Panel A). While foreign companies have contributed to expanding employment opportunities for women, this growth has slowed in recent years. In addition, FDI-driven female employment remains heavily concentrated in one sector, manufacturing, which has significant implications for the quality of jobs within the sector. The impact of FDI on gender equality also varies across provinces and regions (Section 5.3.2).
Growing FDI flows in the manufacturing sector have been a key driver of women’s employment. Since Viet Nam’s reform momentum and economic transformation of the 1990s, the manufacturing sector has attracted significant FDI, particularly in the textile and garment industry and in the assembly of electronics (OECD, 2018[1]). Increasing FDI flows to the manufacturing sector have contributed to growth in female employment and an overall labour market shift for women, coinciding with a decline or redistribution of female employment from the agricultural sector (UN Women, 2021[6]). Between 2018 and 2024, the manufacturing sector accounted for just over half of total registered capital in FDI projects (Figure 5.4, Panel A). The sector has also remained the largest employer of women in both domestic and foreign firms. In foreign firms, the manufacturing sector was responsible for 91% of female employment generated by FDI between 2019 and 2023, compared to 37% in domestic firms (Figure 5.4, Panel C). In other words, nearly two thirds of female workers in the manufacturing sector are employed by foreign companies. While the manufacturing sector plays a crucial role in creating job opportunities for women, the job quality of opportunities in the sector is limited in comparison to other industries, including in terms of wages (Section 5.3.3).
Around 26% of FDI has been directed to capital-intensive and male-dominated sectors between 2018 and 2024, most notably real estate, electricity generation, construction, and mining. Real estate and electricity generation are by far the largest recipients within this group, accounting for approximately 14% and 10% of total FDI inflows respectively in 2018-2024. Despite absorbing substantial investment, these sectors collectively generate less than 1% of female employment in foreign firms, reflecting their limited capacity to create direct jobs for women. Nevertheless, for as long as foreign firms adopt more gender-inclusive employment practices compared to domestic peers, there is evidence that the presence of foreign firms in male-dominated sectors encourages domestic peers to implement more inclusive hiring practices (Nguyen, 2021[24]).
Conversely, several service sectors have strong potential to create direct employment opportunities and improve job quality for women, yet they receive minimal FDI. These sectors include financial, banking and insurance activities, information and communication, professional and technical services, and accommodation and food services. In recent years, they have attracted under 5% of total greenfield FDI flows but account for nearly 4% of total female employment at foreign firms, a modest share in absolute terms, but meaningful given that manufacturing alone absorbs more than 90% of female FDI employment. This indicates that even modest levels of FDI in these service activities can have a positive impact on job creation for women, highlighting their potential to support more inclusive FDI‑driven growth (Figure 5.4, Panel D).
Foreign companies tend to create employment opportunities for women, but mostly in low-skill and low-value added activities, due partly to Viet Nam’s comparative advantage in labour intensive and low-technology production (Daniele Coniglio and Hoxhaj, 2022[26]). Data on greenfield FDI (i.e. new establishments of foreign companies) indicates that over a quarter of FDI has been directed towards the electronic components sector between 2022 and 2024 (fDi Markets, 2024[27]), where women constitute a larger share of the workforce than men, particularly in assembly work (ILO, 2023[28]). Similarly, around 3% of greenfield FDI has flowed towards textile and garment activities, where women represent over two thirds of the workforce. However, women in these industries are less represented in management and ownership, particularly in foreign firms, suggesting limited career advancement prospects in these activities.
Note: Values in Panel C refer to the share of total female employment by foreign firms, while Panel D reflect the share in domestic firms. Panel B is based on data of FDI inflows between 2018 and 2024. Panel C and D are based on data on female employment between 2019 and 2023.
Source: OECD based on NSO (2026[29]) Enterprise (data), https://www.nso.gov.vn/en/enterprises/; NSO (2026[30]) Investment and Construction (data), https://www.nso.gov.vn/en/investment-and-construction/.
5.3.2. The uneven regional concentration of FDI risks compounding gender inequalities
FDI to Viet Nam does not benefit all provinces and regions equally. A large share of FDI is directed to two regions, Southeast and Red River Delta (Figure 5.5), which collectively received more than two thirds of total FDI in 2019-2023. Within these regions, Ho Chi Minh City and Ha Noi stand out as the main beneficiaries. This is not surprising, as investors tend to locate themselves in urban areas (i.e. Ho Chi Minh and Ha Noi) to allow for access to better infrastructure, skilled labour, and proximity to key markets.
The decentralisation of investment promotion is likely another contributing factor to the uneven distribution of FDI, as it leads to potentially harmful competition between provinces, and poor co‑ordination between the central government and provincial authorities (OECD, 2018[1]). In their effort to attract domestic and foreign investors, provinces tend to invest in the creation of economic zones, including Industrial Parks and export processing zones, which offer simplified administrative procedures and generous tax incentives to investors (World Bank, 2024[31]; OECD, 2018[1]). This disproportionately benefits provinces with more financial and land resources to attract foreign investors, while less developed provinces are left behind. To facilitate more equitable FDI distribution, MoF could ensure co-ordination of investment promotion initiatives and consistent application of policies by provinces (OECD, 2018[1]). The recent consolidation of provinces from 63 to 34 presents an opportune moment to bolster the role of the FIA in co-ordinating between provinces and supporting their role for investment promotion and facilitation.
When unevenly distributed across regions, FDI can risk aggravating gender disparities, particularly in rural areas where women face more acute structural disadvantages in terms of health, education, and employment in comparison to urban areas. In 2021, the labour participation gap between women and men was 13.3% in rural areas, higher than the equivalent of 11.5% in urban areas (NSO, 2021[8]). Women are also more likely to be engaged in informal or vulnerable employment or achieve lower educational attainment, in part due to social norms and expectations of traditional gender roles that are more entrenched in rural areas (UN Women, 2021[6]; NSO, 2022[23]). Out of all women engaged in vulnerable employment or unpaid family work in 2021, almost three quarters of those lived in rural areas, in comparison to 27% in urban areas (NSO, 2021[8]). Access to Technical and Vocational Education and Training (TVET) programmes, either formal or informal, is also more limited for women in rural areas in comparison to urban (OECD, 2018[32]), which prevents women from taking advantage of on opportunities generated by FDI, or venturing for new employment in other economic sectors.
Source: OECD calculations based on NSO (2026[29]) Enterprise (data), https://www.nso.gov.vn/en/enterprises/; NSO (2026[30]) Investment and Construction (data), https://www.nso.gov.vn/en/investment-and-construction/.
5.3.3. Foreign firms employ more women than men, yet offer fewer career advancement prospects for women
In Viet Nam, foreign firms on average employ higher proportions of women than their domestic peers (Figure 5.6, Panel A), a pattern that is also observed in several comparator economies such as Portugal, Peru, Georgia and Egypt. The foreign firm employment premiums of Viet Nam are also higher than the average for OECD and ASEAN. The positive performance of foreign firms stems from Viet Nam’s sectoral distribution, and follows a broader trend of economies that have higher shares of FDI channelled to female- and labour-intensive sectors, such as light manufacturing or tourism (OECD, 2019[33]). Indeed, manufacturing has one of the highest proportions of female workers in both domestic and foreign firms compared to other sectors of Viet Nam’s economy (Figure 5.6, Panel B). More generally, foreign firms have higher shares of women in their workforce than domestic firms across all sectors except mining and quarrying, electricity generation, and water and waste management. When female employment premiums are positive, research suggests that foreign firms in Viet Nam can generate imitation effects by incentivising domestic firms to adopt more gender-inclusive employment practices, particularly in male-dominated service sectors (Nguyen, 2021[24]).
Source: OECD calculations based on NSO (2026[29]) Enterprises (data), https://www.nso.gov.vn/en/enterprises/; and World Bank (2024[34]) Enterprise Surveys, https://www.enterprisesurveys.org/.
Despite their significant representation, women are less likely to be in management and ownership roles at foreign firms than domestic ones. Foreign firms are half as likely as domestic peers to have a female top manager or principal owner (Figure 5.7). Although foreign firms in Viet Nam have higher shares of female employees than those in several other economies, including Colombia, Portugal, Peru, and Georgia, these same economies have a higher proportion of women in management and ownership roles at foreign firms than Viet Nam. At the regional level, both domestic and foreign firms in Viet Nam are less likely to have a female top manager compared to the ASEAN or OECD average. Domestic firms are nearly half as likely to appoint a female top manager relative to the ASEAN average but perform slightly better than OECD economies. In contrast, foreign firms in Viet Nam are nearly half as likely as those in OECD to place women in management positions.
Aside from firm ownership, the prospects of reaching top management or CEO roles vary by sector and region. Based on the latest data available from 2020, foreign firms are more likely to have a female CEO than domestic ones in only two sectors, real estate and education (Figure 5.7, Panel C). Domestic firms are more likely to have a female CEO in all other sectors of the economy, ranging from 13% of domestic firms in construction, 35% in accommodation and food services and 46% in education. Firms operating in sectors that benefit from a significant female workforce, such as health and social work, education, and manufacturing, are among the least likely to have a female CEO. The prospects for female leadership also vary across regions. Around a quarter of foreign companies located in the Mekong River Delta region have a female CEO, likely linked to the presence of tourism firms in the region, compared to 12% of foreign firms in Red River Delta, where a third of all foreign manufacturing firms are located.
Note: Panels A and B are based on data from 2023 or latest available year for each country.
Source: OECD calculations based on World Bank (2024[34]) Enterprise Surveys, https://www.enterprisesurveys.org/.
5.3.4. Foreign firms in Viet Nam pay higher wages with variations across sectors
Foreign firms pay comparatively higher wages across all sectors of the economy, but less so where women have a stronger workforce presence. The foreign wage premium, which measures the average wage per worker in foreign firms in comparison to domestic ones, is highest in male-dominated sectors such as construction, mining and quarrying. Over the period 2019-2023, wages by foreign firms were on average 194% higher in mining and quarrying and 155% higher in construction, when compared to domestic firms (Figure 5.8, Panel A). Similar to other countries, women remain significantly underrepresented in capital-intensive industries, representing 13% of workers in mining and quarrying and 21% in construction in foreign firms. Current policy initiatives, such as tax incentives, aimed at increasing the share of female employment and improving the job quality for women in these activities, and in particular construction, will face structural challenges due to comparatively low female representation in the workforce (Section 5.4.5).
The manufacturing sector is a major recipient of FDI and employer of female workers, yet the foreign wage premium is lower than in most sectors. Between 2019 and 2023, manufacturing accounted for 91% of total female employment generated by foreign firms. While women have a strong presence in the manufacturing sector, wages in foreign-owned manufacturing firms were, on average, 20% higher than those in domestic firms between 2019 and 2023, one of the lowest premiums compared to other sectors of the economy. This limited wage advantage is likely driven by several factors, including the concentration of FDI in industries that rely on a young, cost-effective labour force, such as textile and garment manufacturing or electronics assembly (OECD, 2018[1]). Foreign firms drawn to Viet Nam for its low-cost labour force may have little incentive to improve the wage conditions of their workers, which disproportionately impacts women given their high representation in the sector.
Foreign wage premiums are also lower in services sectors that employ higher shares of female workers. Women represent more than half of the workforce at foreign firms in certain service sectors, including financial, banking and insurance activities (61%), accommodation and food services (57%), and administrative and support service activities (56%). These sectors have the added advantage of a lower gender wage gap in comparison to other sectors, amounting to 6% in financial activities, while administrative and support service activities was the only industry to achieve gender parity in wages in 2022 (NSO, 2022[20]). Foreign firms have a significant presence in these sectors, collectively accounting for 6% of firms outside of manufacturing. While the foreign wage premiums are positive, they tend to be lower in these activities than in other sectors of the economy, ranging from 21% average higher wages in financial activities, to 37% higher in accommodation and food services.
The potential for FDI is untapped for sectors that boast significant female workforce and much higher wage premiums, such as education, health and social work. In line with global trends, women make up a significant share of the workforce in sectors with traditionally female roles, such as education, health and social work. In foreign firms, female workers accounted for 64% of the workforce in education and 67% in health and social work between 2019 and 2023. Beyond the significant employment gains, foreign firms also offer comparatively higher wages than domestic firms, amounting on average 149% higher in education and 70% in health and social work. However, the two sectors accounted for less than 2% of foreign companies.
Various factors influence the foreign wage premium for female workers, leading to an overall mixed impact of FDI on women's wages. Positively, the gender wage gap is currently narrower in relation to a decade earlier, which translates to potentially better outcomes for women, although this varies across sectors (Figure 5.8, Panel B). The gender wage gap also fluctuates across occupations, reaching its highest level among skilled agricultural workers at 33% in 2023 (NSO, 2023[13]). These variations in the gender wage gap across sectors, occupations, and over time are likely to influence foreign firms’ labour practices, including in relation to wages. Studies focusing on FDI and labour market outcomes for women suggest that the availability of technology also impacts foreign wage premiums in Viet Nam. Specifically, FDI directed to high-technology areas of the country is linked to higher wages for both men and women, though the increase is more pronounced for male workers at the top of the wage distribution, thereby widening the gender wage gap. At the same time, FDI directed to low-technology areas translates to fewer employment opportunities and lower wages, particularly for men, due to the limited absorptive capacity of those areas (Anh Pham/Jennifer P. Poole/Amelia U. Santos-Paulino, 2021[35]).
Note: The bubble plots in Panel B reflect the proportion of female workers at foreign firms out of total female employment generated by FDI
Source: OECD calculations based on NSO (2026[29]) Enterprise (data), https://www.nso.gov.vn/en/enterprises/.
5.4.1. Viet Nam’s national strategies and promote women’s economic participation, but the link with investment could be strengthened
Viet Nam has demonstrated strong commitment to incorporating women’s economic participation in strategic policy documents, chief among them is the National Strategy on Gender Equality for 2021-2030 (Box 5.2). The strategy builds on a previous period of 2011-2020, and sets forth 6 objectives and 20 quantifiable targets for advancing gender equality across political, economic, social, and cultural fields. In the current period, the strategy focuses broadly on increasing women’s labour force participation, supporting their entrepreneurship and leadership. Given the broad scope of these objectives, several ministries are tasked with the implementation of the strategy, including MOHA, MOF and the Ministry of Education. Positively, the strategy delineates to action plans that provide a framework for agencies in implementing the strategy. For example, the Ministry of Education has a dedicated action plan to implement the National Strategy on Gender Equality for 2021-2030, including quantifiable objectives and timelines for advancing gender parity in education.
Other sectoral and horizontal strategies include a gender dimension, such as the National Action Plan to Implement the 2030 Agenda for Sustainable Development, which prioritises improvements in job quality for women, including by instituting equal pay and family-friendly workplace policies. Women’s economic participation is also embedded in Viet Nam’s long-term development vision, including in the Socio-economic Development Plan for 2021-2025, which cross-references the main national strategies on gender equality. The National Financial Inclusion Strategy until 2025, with a vision to 2030, includes targets related to ensuring women’s access to credit (Prime Minister of Viet Nam, 2020[36]). These strategies and plans reflect the priority Viet Nam has placed in facilitating women’s economic empowerment and establish a coherent policy framework towards advancing gender equality.
The role of investment in supporting gender equality could be better defined in Viet Nam’s strategic documents. The current period of the National Strategy on Gender Equality does not include a reference to the role and impact of FDI. Similarly, Viet Nam’s primary strategy on FDI, the Strategy for Foreign Investment Cooperation for the Period 2021-2030, does not explicitly reference women’s empowerment or gender equality. Instead, the strategy emphasises strengthening the skills of workers more broadly to meet the demands of FDI enterprises and attract additional investment. Viet Nam’s policy framework would benefit from greater alignment between national priorities on investment and gender equality. Developing a comprehensive policy framework for investment promotion that explicitly aligns with national priorities on gender equality is crucial for increasing awareness of the impact of FDI on sustainable development and fostering targeted and well-co-ordinated policy actions (OECD, 2022[25]).
National strategies and plans relevant to the digital transformation would benefit from incorporating gender considerations. Key documents that outline Viet Nam’s priorities for the digital transformation include National Strategy on Industry 4.0 to 2030 and the National Digital Transformation Programme to 2025, with a vision to 2030. The strategies emphasise the benefits of the digital economy and delineate priorities to relevant government institutions, but the documents do not include gender-related targets or indicators (UN Viet Nam, 2023[9]). Mainstreaming gender to national policy documents facilitating the digital transformation would contribute to mitigating the risks of digitalisation on women, whom are most at risk by the process, while maximising their overall contribution to the digital economy.
National Strategy on Gender Equality for 2021-2030 builds on a previous strategy (2011-2020) and advocates for narrowing the gender gap in various spheres. Three objectives are outlined in relation to women's political representation, labour market participation, and family life. In terms of the labour market, specific targets relate to increasing share of female workers to 50% in 2025 and 60% in 2030; reducing proportion of female workers in agricultural sector to below 30% by 2025 and 25% by 2030; increasing the rate of female directors or owners of businesses to at least 27 percent by 2025 and 30 percent by 2030. In family life, the strategy advocates for reducing unpaid household work to 1.7 times by 2025 and 1.4 times by 2030; and improving access to vocational training and general education.
National Action Plan to Implement the 2030 Agenda for Sustainable Development prioritises women's economic participation through several objectives, including improving women's access to financial resources, promoting entrepreneurship, ensuring equal pay and employment opportunities, and enhancing women's access to technology and innovation. The plan also focuses on supporting rural women, providing family-friendly workplace policies, and integrating gender equality into national development plans. The plan also includes an emphasis on data collection to ensure women’s economic empowerment is effectively tracked and supported.
Socio-economic Development Plan for 2021-2025 outlines objectives in key areas such as economic growth and structural transformation, skills development and human capital, investment and social development and inclusion. The plan cross-references strategic documents on gender equality, including the National Strategy on Gender Equality for 2021-2030. Key targets include reducing urban unemployment to below 4%, transitioning agricultural workers to 25%, and linking wage growth to productivity and business efficiency. While these goals could impact gender disparities—given women’s overrepresentation in agriculture and informal sectors—the plan does not address the gendered aspects of these transitions. Similarly, its focus on digital skills development and private investment in high-tech industries misses opportunities to promote women’s participation and leadership, highlighting the need for stronger gender integration.
5.4.2. Viet Nam’s institutional framework on investment and gender includes many actors
Viet Nam’s institutional framework involves a complex interplay of actors governing the policy areas of investment and gender, including governmental, non-governmental, and socio-political institutions operating at both national and subnational levels (Figure 5.9). In Viet Nam, investment policy falls under the responsibility of the Ministry of Finance (MOF), having absorbed the functions of the former Ministry of Planning and Investment as of 2025. At the national level, MOF and its implementing agency, FIA, are responsible for formulating policy on investment and ensuring its implementation, including by co‑ordinating with provincial bodies, who have a leading role in promoting investment and facilitating business establishment within the scope of their respective capacity and resources (OECD, 2018[1]). To encourage investment, MOF formulates policy on investment incentives, granting concessions on corporate income tax to channel FDI to priority sectors or activities. MoF is also tasked with overseeing economic zones by designing policies and appraising proposals for their establishment, expansion, or adjustment, alongside provincial authorities.
Gender policy falls under the purview of several institutions, with important implications on investment. As of 2025, the main government agency responsible for gender policy is MOHA and its Department of Youth Affairs and Gender Equality. This office combines the former Department of Gender Equality of the Ministry of Labour, Invalids and Social Affairs (established in 2008) with MOHA’s former Department of Youth Affairs. The Youth-Gender Department now advises MOHA and the National Assembly on the development of laws and policies related to gender equality, as well as monitoring the implementation of key national strategies on gender, along with other key functions (MOLISA, 2023[40]; MOHA, 2025[41]). To ensure horizontal co-ordination on gender, the National Committee for the Advancement of Women in Viet Nam (NCFAW), established in 1995, is an inter-ministerial body that advises the Prime Minister on gender equality and the advancement of women. The chairperson is the Minister of Home Affairs, supported by three vice chairs (the Deputy Ministers of Home Affairs and Foreign Affairs, and the chairperson of the Viet Nam Women's Union). Members include deputy ministers from 11 ministries and representatives from key agencies including the State Bank, the Supreme People's Court, the Supreme People's Procuracy, and the Viet Nam Fatherland Front (Prime Minister of Viet Nam, 2026[42]). Other state agencies are involved in advising or formulating gender and investment policies and these include:
Viet Nam Women’s Union (VWU) is a socio-political organisation responsible for representing women’s views and interests at the national and local levels. VWU acts as the vice chair of NFCAW and co-ordinates several training programmes supported by the government aimed at reskilling or upskilling women. VWU also partners with commercial banks to provide access to preferential credit in support of women’s entrepreneurship (UN Women, 2021[6]; 2024[7]; VWU, 2025[43]).
Ministry of Industry and Trade (MOIT) performs state functions on certain sectors of industry and trade, including high-tech activities (Government of Viet Nam, 2022[44]). MOIT provides guidance to SMEs, including women-led SMEs, on integrating in business clusters and value chains. MOIT also provides technical support to women’s business associations (ADB, 2023[45]).
National Statistics Office (NSO) under MOF collects official statistical information, including sex-disaggregated data on education, labour and employment, leadership and management.
Other ministries have departments with a mandate on gender equality, such as the Department of Family in the Ministry of Culture, Sports and Tourism.
Business associations, non-profit organisations, and international donors also contribute significantly through their programmes and policy advocacy efforts. For example, the EuroCham Women in Business Sector Committee aims to address issues and needs related to gender equality in the workplace and includes stakeholders from the private and public sectors (EuroCham, 2025[46]). The Viet Nam Business Forum and its Working Group on Human Resources include includes a focus on gender equality and provides a fora for enterprises and public sector stakeholders to identify needs related to skills and investment (Viet Nam Business Forum, 2025[47]).
Co-ordination between institutions governing gender and investment policies could be strengthened. Viet Nam’s institutional framework on gender has been increasingly streamlined, particularly with the establishment of the Youth-Gender Department and NFCAW, but it remains unclear to what extent MOF co-ordinates with MOHA or NFCAW on investment-related policies. Given the substantial presence and impact of foreign firms, which account to almost half of all female employment in the private sector, stronger co-ordination between the institutions responsible for investment and gender polices is needed to help align women’s skills with emerging opportunities created by foreign firms. Effective co-ordination could also ensure that FDI is channelled towards activities with higher participation of women and better outcomes in terms of job quality for women. While NFCAW ensures strategic and high-level co-ordination between ministries on gender policy, it is challenging to assess the level of operational co-ordination that occurs between staff at key ministries. In Jordan, for instance, gender units are embedded within ministries to integrate gender considerations into policies and programmes, with direct oversight from an interministerial body (Box 5.6). Such mechanisms allow for effective collaboration at different levels of government.
The capacity of the Youth-Gender Department could be further supported. Co-ordination alone is insufficient to ensure gender considerations are integrated in the design of investment policies. Other persisting challenges hinder effective gender policy implementation, including shortages of staff on gender equality, lack of technical capacity for gender mainstreaming, and inadequate funding (UN Women, 2024[7]; 2021[6]). The government’s restructuring efforts, which merged the youth and gender policy portfolios under a single department, may place further pressure on already constrained capacity. Viet Nam would benefit from ensuring that the Youth-Gender Department is equipped with sufficient staffing and adequate resources to effectively fulfil its mandate and drive forward gender-responsive policymaking.
Institutions with a mandate on gender or investment policy
Source: OECD elaboration.
The governance framework in Jordan for investment and gender policies involves multiple governmental and non-governmental actors, requiring effective horizontal co-ordination. The Ministry of Investment (previously the Jordan Investment Commission) is responsible for promoting and facilitating foreign investment in the country and is part of the Investment Council chaired by the Prime Minister and the Minister of Defence. The Ministry of Investment also hosts the National Contact Point for Responsible Business Conduct, which is tasked with promoting the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct. The OECD Due Diligence Guidance on Responsible Business Conduct and other sector-specific guidance encourage businesses to apply a gender perspective to due diligence. The Jordanian National Commission for Women (JNCW) is the main co‑ordinating for women’s affairs in Jordan. The JNCW is a semi-governmental body that serves as a reference authority for women’s affairs, women’s empowerment and the promotion of gender equality in all spheres of life. The JNCW’s board consists of 22 members from relevant ministries, national councils and institutions and civil society. Its mandate is to integrate gender into the political agenda, revise policies and laws, and eliminate gender-based discrimination. It also advocates for various issues through consensus building and coalitions with civil society and produces studies and guidelines on particular topics. Through its mandate, the JNCW has established gender focal points within relevant ministries to mainstream and integrate gender perspectives in their policies and programmes.
Gender units are an important tool for mainstreaming gender in the activities of key ministries. The gender units are overseen directly by the JNCW and are tasked with advancing gender equality and women’s empowerment within their respective areas of work. The Inter-Ministerial Committee on Women’s Empowerment facilitates the co-ordination in government on gender actions in line with the Jordan Vision 2045. The IMC works at the ministerial level with a rotating chair and includes among its members the Secretary General of the JNCW. Several mechanisms exist to advance a whole-of-government approach on gender equality, ensuring co-ordination not only at the ministerial level, but also between government personnel across departments and institutions.
Source: OECD (2022[48]), FDI Qualities Review of Jordan, https://doi.org/10.1787/736c77d2-en.
5.4.3. Regulatory restrictions to FDI continue to apply on few female-intensive sectors
Regulatory restrictions on FDI can undermine the impact of FDI on gender equality if these measures are applied to female-intensive sectors. While Viet Nam maintains a relatively open and non-discriminatory environment for FDI, restrictions are applied to sectors that are considered major employers of women, including financial services (Figure 5.10). Foreign ownership in Vietnamese banks is capped at 30%, and cases that exceed this threshold require the approval of the Prime Minister, particularly when involving the restructuring of distressed credit institutions (OECD, 2018[1]). Additional barriers arise from the state’s significant ownership stakes in major commercial banks, which limit foreign participation and competition. Easing FDI restrictions in the financial sector could not only strengthen women’s employment opportunities but also generate broader benefits by enhancing competition and supporting financial sector development (OECD, 2025[49]). These gains are especially relevant because financial services rely on a highly skilled workforce, and increased foreign investment could expand professional opportunities in a sector where women are already strongly represented (Chapter 4).
Women’s participation in the telecommunications sector is far from marginal, but regulatory restrictions limit potential FDI inflows. Foreign ownership in non-facilities-based services is capped at 65%, while majority foreign stake is prohibited in facilities-based services. Certain projects are also subject to additional approval from the Prime Minister if investment projects involve network infrastructure services (OECD, 2026[50]). These restrictions can undermine the sector’s attractiveness to investors, despite its critical role in advancing digitalisation and demonstrated capacity to generate opportunities for women, who account for more than one third of the workforce at foreign telecommunication firms.
Note: Data for female employment in foreign firms refer to 2023. The OECD FDI Regulatory Restrictiveness Index measures statutory restrictions on FDI across four policy categories: i) foreign equity limits; ii) screening and approval of foreign investment; iii) restrictions on key foreign personnel; and iv) other operational restrictions. Individual measures are evaluated on a 0 (fully open to FDI) to 1 (fully closed) scale based on a scoring framework that captures the varying degrees of restrictiveness of the covered FDI policies.
Source: OECD elaboration based on NSO (2026[29]) Enterprise (data), https://www.nso.gov.vn/en/enterprises/, and OECD (2026[50]) FDI Regulatory Restrictiveness Index, https://www.oecd.org/en/topics/sub-issues/sustainable-investment/fdi-regulatory-restrictiveness-index.html.
5.4.4. Viet Nam has advanced gender equality in its legal framework, but compliance could be strengthened
Viet Nam has enacted significant legal reforms to advance female employment over the years. These legal reforms have resulted in a more inclusive legal framework for female employment compared to many comparator economies selected for this analysis (Figure 5.11). The Labour Code of 1994 introduced initial safeguards to women’s employment and has since been amended several times to expand protections. In 2012, the Labour Code was amended to improve women’s social protection by increasing maternity leave from four to six months. In 2019, protections against gender discrimination in the workplace were strengthened, including with respect to wages (UNFPA, 2020[51]). Further reforms to the Labour Code in 2021 (“Amended Law”) removed restrictions on women’s ability to work in certain occupations and reduced the retirement age gap between men and women. The Law on Gender Equality of 2006 (“Gender Equality Law”) establishes the principle of gender equality across various domains, such as education, employment and family life. The Gender Equality Law also delineates specific responsibilities to government institutions in order to safeguard and promote gender equality.
Women’s economic participation is supported in various laws and regulations in addition to the Labour Code and Gender Equality Law. The Law on Occupational Safety and Health of 2015 prohibits gender-based discrimination in occupational safety and health (National Assembly of Viet Nam, 2015[52]). The new Law on Social Protection, which came into effect in 2025, expands coverage to household business owners and part-time workers, categories in which women are disproportionately represented (National Assembly of Viet Nam, 2024[22]). The integration of gender considerations in Viet Nam’s legal frameworks contributes, either directly or indirectly, to improved job quality and greater access to benefits for women in both domestic and foreign firms.
WBL index scores (0-100) in five selected areas of women’s economic inclusion, 2024
Note: The ‘workplace’ indicator examines legal constraints on women’s decision to join and remain in the labour force as well as protections against discrimination and sexual harassment in the workplace; the ‘pay’ indicator looks at laws and regulations that influence occupational segregation and the gender wage gap; the ‘parenthood’ indicator assesses laws that influence women’s work after having children; the ‘entrepreneurship’ indicator analyses constraints on women’s ability to start and run businesses; finally the ‘assets’ indicator looks at gender differences in property and inheritance rights. A score below 100 indicates that at least one legal constraint on women’s economic participation into a specific area has been identified.
Source: OECD elaboration based on World Bank (2024[53]), Women, Business and the Law, https://wbl.worldbank.org/en/wbl.
Viet Nam could further improve the gender-responsiveness of the legal framework for employment. Gender equality is supported in various provisions of Viet Nam’s domestic legal framework, but women continue to face challenges in employment such as gender wage gaps, occupational segregation, informality, and disproportionate care work responsibilities that limit women’s engagement with the labour market and require targeted policy interventions. Expanding paternity leave, which is currently limited to 5-7 working days and falls short by international comparison, would help promote a more balanced distribution of care responsibilities (OECD, 2025[49]). Improving the collection and use of sex-disaggregated data on employment would enable Viet Nam to more easily identify gender disparities in the labour market (e.g. wage gaps, occupational segregation). Among Viet Nam’s other policy options for strengthening women’s labour participation are expanding the legal provisions against discrimination, instituting mandatory quotas for women’s representation in senior positions, or strengthening the capacities of employment service organisations to reduce occupational segregation and increase formality (ILO, 2025[54]; OECD, 2025[49]).
Strengthening labour law enforcement remains an important priority, including in sectors with higher presence of women workers. A decentralised labour inspection system, where inspection authorities such as MOHA and Industrial Zone management bodies hold overlapping mandates, can prevent effective enforcement even where regulatory reforms are in place (ILO, 2020[55]).
5.4.5. Viet Nam could support investment promotion and facilitation for investment and gender equality
Tax incentives tied to women’s job quality and skills
Viet Nam is one of the few economies that offer tax incentives in support of women’s job quality and skills. Under the Law on Corporate Income Tax of 2025, enterprises employing female workers can qualify for a tax credit if they meet specific criteria. Enterprises must operate in manufacturing, construction or transport sectors, and employ 10 to 100 female workers and make up more than 50% of the workforce, or more than 100 female workers who constitute at least 30% of total employees. The tax credit equals certain qualifying expenditures, such as spending on vocational training, partial costs of operating on-site childcare facilities, expenditures on the provision of health check-ups in the year, and salaries and overtime allowances for women that forgo maternity leave.
Policymakers should assess the design features of the tax incentive against its intended objectives. The tax incentive regime targets firms in the construction and transportation sectors, where women represented 21% and 28% of the total workforce in 2023, respectively. The design features of the tax incentive, including conditions to meet at least 30% of female workforce representation, are considered complex and may disqualify many firms in those sectors. This may stem from women’s underrepresentation or their high turnover rates that in turn render it difficult for firms to qualify for the above thresholds (UN Women, 2016[56]). Viet Nam should assess whether these conditions contribute to addressing gender disparities in the labour market, particularly as women are overrepresented in low value-added industries, or significantly underrepresented in management roles. For example, Viet Nam may consider expanding the sector conditions of the tax incentive to cover higher value-added industries, thereby encouraging female participation in those activities. In all cases, tax benefits tied to outcome conditions require regular monitoring and evaluation to ensure that the instruments meet their intended objectives. However, it remains unclear whether Viet Nam is collecting sex-disaggregated data on the uptake of tax incentives (UN Women, 2021[6]).
Tax incentives may not compensate for wider market failures, which may require alternative or complementary policy options. Tax incentives can have distorting effects by diverting resources from more efficient to less efficient activities, leading to costs in terms of expenditure and revenue forgone. This, in turn, can reduce the fiscal space for other policies that are potentially more effective in advancing gender equality (OECD, 2022[25]). When considering various policy options, policymakers should evaluate the cost of implementing tax incentives against the potential benefits of alternative government investments in services, infrastructure, or improving the wider investment climate. In this case, Viet Nam may also weigh these costs against the effectiveness of other policy tools that could facilitate private sector solutions to improving women’s welfare and workplace conditions.
Factors with the broader tax system may hinder uptake of incentives in support of women’s employment and skills. Consultations with stakeholders suggest that issues related to the transparency and governance of tax incentives make it challenging for investors to assess the full extent of tax benefits available to them. In the absence of a consolidated tax law, information on the generosity and eligibility criteria of tax incentives is generally spread across a number of laws, decrees, circulars and information notes (OECD, 2018[1]). For instance, firms seeking to benefit from the tax incentive mentioned above must navigate several legal documents, including the Labour Code, where additional eligibility conditions are set out for investors. Understanding how exactly incentives apply and who can benefit might require significant time and resources; a process that could discourage smaller investors or those less familiar with the jurisdiction to apply. For firms that choose to benefit from the tax incentive, complicated and lengthy application processes remain a dissuasive factor (UN Women, 2016[56]). It is recommended that Viet Nam consolidates all tax incentives, including their eligibility criteria, into the main body of the tax law to facilitate transparency (OECD, 2015[57]; 2018[1]; 2023[58]).
Generous tax investment incentives to certain sectors risk aggravating gender inequalities. Viet Nam offers generous tax incentives schemes to investors in select priority activities, such as high-tech industries, in line with broader national priorities to promote technology-intensive FDI (Prime Minister of Viet Nam, 2021[59]). Under the LOI and the Prime Minister’s Decision No. 29/2021/QD-TTg on special investment incentives, concessions on corporate income tax (CIT) are extended to investors in support of advanced technologies and digital products (Prime Minister of Viet Nam, 2021[60]). These incentives include significant reductions or full exemptions on CIT for a period of up to 37 years. Generally, income-based incentives (e.g. CIT exemptions and CIT reduced rates) can involve significant costs in terms of revenue forgone, but they may also risk exacerbating gender inequalities by directing FDI to male-dominated activities. To mitigate these risks, Viet Nam may consider extending the eligibility criteria to include gender targets that encourage female employment in those activities. In addition, efforts to promote FDI in activities with lower proportions of women should be complemented with targeted skills development programmes that enable women to access job opportunities in these growing fields.
Investment promotion
Apart from manufacturing, Viet Nam’s investment promotion strategy currently overlooks sectors where women are strongly represented. Viet Nam’s current efforts are focused on knowledge-intensive, digital and green sectors, where women are less represented. This mismatch risks missing key opportunities of FDI working towards inclusive economic growth. For example, select sectors (i.e. education, health and social work) feature high proportions of women within their workforce but account for less than 1% of FDI inflows between 2018 and 2024. Broadening investment promotion efforts to include the health sector, in particular, could yield multiple benefits: helping the economy adapt to changing demographics and an ageing population, reducing the disproportionate care work shouldered by women in the long run, while at the same time creating opportunities for women to transition from jobs at risk due to digitalisation or other structural transformations of the economy.
Although Viet Nam’s IPAs increasingly align promotion efforts with sustainable development, gender remains a gap. Promotional materials often highlight the government’s commitment to inclusive growth, the green transition, and positioning Viet Nam as a key destination for achieving the SDGs (Investment and Trade Promotion Centre, 2024[61]). While gender equality features in strategic documents like the National Strategy on Gender Equality (2021-2030), a concrete framework to attract gender-focused FDI is still absent.
To bridge this gap, Viet Nam could introduce targeted promotion efforts that encourage investments that link with women-led SMEs or sectors with high female employment. This includes incentivising foreign investors to support women’s empowerment through hiring, training, and enterprise development. Aligning with global trends, where 45% of IPAs have adopted gender-focused initiatives, Viet Nam has an opportunity to position itself as both a competitive and inclusive investment destination (UNCTAD, 2020[62]). Globally, IPAs are advancing gender equality by supporting inclusive foreign investment and promoting equity within their own operations, while also responding to growing demand from multinational enterprises aligning with SDG 5 (UNCTAD, 2020[62]) (Box 5.4).
Gender-sensitive investment promotion involves strategies used by IPAs to actively integrate gender equality into their efforts to attract and retain FDI. These initiatives boost economic empowerment for women and create attractive investment climates aligned with SDG standards.
"Argentinas al Mundo" ("Argentine Women Go Global") - Argentina
Investment promotion agencies with combined trade mandates often support women entrepreneurs to engage in international business. Argentina's national trade and investment agency (AAICI) launched "Argentinas al Mundo" ("Argentine Women Go Global"), a programme helping women-led businesses export and attract investment.
Leveraging FDI for gender equality - Costa Rica
The Costa Rican Foreign Trade and Investment Promotion Agency (PROCOMER) continually works, together with domestic and foreign private companies established in the country, to help close the gender gap in the business sector by implementing a range of targeted initiatives, including a pilot care network developed in collaboration with Free Trade Zones and local governments, capacity-building support for 40 women-led companies to advance their internationalisation through the IMPULSA program, training programmes aimed at improving women's employability under formal conditions through a co-financing incentive, and broader efforts designed to reduce structural gaps and promote productive transformation in women-led enterprises.
"Women in Tech" - Denmark
Copenhagen Capacity, a regional IPA in Denmark, actively integrates a gender lens into promoting its tech sector. It conducts targeted talent attraction campaigns such as "Women in Tech" to increase women's representation in ICT industries. This helps foreign investors in Copenhagen's tech scene recruit more female talent, addressing skill gaps and diversity goals. The campaign has raised the visibility of Denmark's female tech workforce, encouraging global tech companies to invest in the region with confidence they can hire a diverse, skilled team.
SDG scoring system - Türkiye
Türkiye's Investment Office developed an SDG scoring system for inbound projects – investments score higher if the company has strong gender-equality commitments or plans to employ a significant number of women.
Source: OECD based on Bonilla-Feret (2023[63]) Gender defines investment promotion more than IPAs think, https://www.fdiintelligence.com/content/locations/global/gender-defines-investment-promotion-more-than-ipas-think-82177; FDI Centre (2023[64]) How IPAs can contribute to gender equality through investment and trade, https://fdi-center.com/how-ipas-can-contribute-to-gender-equality-through-investment-and-trade/; and UNCTAD (2023[65]), Investment Promotion and its Impact on Gender, https://unctad.org/system/files/official-document/diaepcbinf2023d6_en.pdf.
Investment facilitation
Viet Nam could further facilitate gender-focused investment through dedicated channels such as one-stop-shops explicitly designed for investors focused on gender-sensitive industries. Simplifying administrative processes and advocating reforms to reduce gender-related barriers in investment procedures could attract investors specifically interested in inclusive business models (Box 5.5). Furthermore, aftercare services could include targeted assistance and networking opportunities specifically aimed at linking foreign investors with local women-owned enterprises, thus enhancing women's economic empowerment and participation in global value chains.
Gender-sensitive initiatives in investment facilitation refers to strategies employed by IPAs to actively integrate gender equality into the attraction and retention of FDI. By supporting and encouraging investors to adopt gender-inclusive practices, IPAs can enhance the positive impact of foreign investment on gender equality and inclusive growth.
Chile’s aftercare and facilitation services focused on gender and ESG goals.
InvestChile has developed aftercare and facilitation services focused on gender and ESG (Environmental, Social, Governance) goals. The agency provides training and advice to foreign investors on how to measure and report on gender equality within their operations. This hands-on support has led several multinational companies in Chile to improve their gender balance and be recognised for inclusive practices.
Austria’s “Gender Equality Seal”
Invest Austria supports companies in obtaining a “Gender Equality Seal” and hosts annual awards to celebrate achievements in advancing gender equality. Past recipients have been recognised for initiatives such as challenging traditional hierarchies and offering comprehensive support around family leave.
Source: UNCTAD (2023[65]) Investment Promotion and its Impact on Gender,
https://unctad.org/system/files/official-document/diaepcbinf2023d6_en.pdf.
5.4.6. International agreements could further reinforce the role of investment in supporting gender equality in Viet Nam
Responsible business conduct
International instruments, such as the OECD Guidelines for Multinational Enterprises on Responsible Business Conduct (Guidelines), help set expectations for businesses to address the negative impacts of their operations and contribute to sustainable development (Box 5.6). Viet Nam has taken important steps towards advancing the responsible business conduct (RBC) agenda, including through the adoption of the National Action Plan for Law and Policy Improvement to Promote Responsible Business Practices in Viet Nam 2023-2027 (Prime Minister of Viet Nam, 2023[66]). Moving forward, Viet Nam could consider additional efforts to raise awareness of RBC among businesses and policymakers, review existing access-to-remedy mechanisms for RBC-related matters, integrate RBC principles into public procurement and SOE operations, and provide industry-specific training programmes for supporting industries (OECD, 2018[1]).
The OECD Guidelines for Multinational Enterprises on Responsible Business Conduct (2023) are a key international instrument for promoting RBC practices by foreign MNEs. The Guidelines are recommendations made by governments to MNEs to prevent and address the negative impacts of business operations on the economy, society and the environment. Signatory governments commit to promoting their uptake and implementation by business, in addition to establishing National Contact Points (NCPs) for Responsible Business Conduct which are national agencies tasked with supporting all actors – companies, governments and stakeholders – in implementing RBC.
Gender-related issues cut across various aspects of business activity. Chapter IV on ‘Human Rights’ and Chapter V on ‘Employment and Industrial Relations’ of the Guidelines are of particular interest to companies on this topic. Commentary 45 of Chapter IV on ‘Human Rights’ emphasises that enterprises can have an impact on virtually the entire spectrum of internationally recognised human rights and that in practice, some human rights may be at greater risk of adverse impacts than others in particular industries or contexts and therefore will be the focus of heightened attention. Enterprises should pay special attention to any particular adverse impacts on individuals who may be at heightened risk due to marginalisation, vulnerability or other circumstances, individually or as members of certain groups or populations. Chapter V on "Employment and Industrial Relations" highlights the principle of equality of opportunity and treatment in employment and non-discrimination, including on the basis of sex. Commentary 59 of Chapter V explains further the expectations related to promoting equal opportunities for all with special emphasis on equal criteria for selection, remuneration, training, and promotion, and equal application of those criteria, and prevent discrimination or dismissals on the grounds of marriage, pregnancy or of those workers with family responsibilities.
The OECD Due Diligence Guidance for Responsible Business Conduct provides practical guidance for companies on how to identify and address adverse impacts. The OECD Due Diligence Guidance for Responsible Supply Chains in the Garment and Footwear Sector explains how companies along these value chains can identify and address gender-specific risks, such as sexual harassment and discrimination.
Source: OECD (2023[67]) Guidelines for Multinational Enterprises on Responsible Business Conduct, https://doi.org/10.1787/81f92357-en; OECD (2018[68]) Due Diligence Guidance for Responsible Business Conduct, https://doi.org/10.1787/15f5f4b3-en; OECD (2018[69]) Due Diligence Guidance for Responsible Supply Chains in the Garment and Footwear Sector, https://doi.org/10.1787/9789264290587-en.
International investment and trade agreements
Viet Nam is a signatory to two international investment and trade agreements that include provisions encouraging the positive contribution of investors on sustainable development, including gender equality. Viet Nam is one of 11 signatories to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) free trade agreement, which entered into force on 14 January 2019 for Viet Nam. The agreement includes a dedicated chapter on investment, as well as several specific references to gender equality with a bearing on investment. In Chapter 19 on labour, signatories are encouraged to co-operate in the promotion of gender equality and the elimination of discrimination in the workplace (Article 19.10). Another reference includes a stronger obligation for parties to adopt domestic regulations and practices towards the elimination of discrimination in employment, with reference to the obligations set out in the ILO Declaration (Article 19.3). Chapter 23 on development includes a detailed provision on gender equality, whereby parties “shall consider” collaborating in the implementation of programmes that aim to build women’s skills and improve their job quality.
The EU-Viet Nam Free Trade Agreement (EVFTA), which entered into force on 1 August 2020, also includes two provisions that seek to improve the contribution of investment on gender equality. Along with the EVFTA, the European Union and Viet Nam signed the Investment Protection Agreement, which will come into force once ratified by all EU Member States. Similar to the CPTPP, the EVFTA includes a provision that calls on parties to fulfil their obligations under the ILO Declaration, including on the elimination of discrimination in employment (Article 13.4), as well as gender-related aspects of the ILO Decent Work Agenda (Article 13.14). Apart from EVFTA and CPTPP, Viet Nam’s stock of international investment and trade agreements from the last decade do not include any other gender-related provisions.
International investment agreements increasingly include provisions that seek to strengthen the contribution of FDI on sustainable development areas, including on gender equality. Provisions related to gender equality can reaffirm parties’ existing commitments under the international human rights framework or compel signatories to implement programmes or policies that advance gender equality (OECD, 2022[25]). The scope of the provisions on sustainable development can be narrow or broad, but they may also have varying degrees of enforceability (i.e. binding force), depending on how the provision drafted (OECD, 2024[70]). Viet Nam’s inventory of international investment and trade agreements include provisions related to gender equality that have little to no binding force, regardless of how strong or specific the language may seem. In this regard, Viet Nam should favour agreements that envisage, more clearly, the contribution of FDI in the advancement of gender equality and allow for some degree of enforceability. A recent analysis of international agreements offers insight into how to better integrate gender considerations in the negotiations of IIAs, and provides guidance on how to translate the provisions into domestic practice, including in the form of promoting policy coherence (e.g. national strategies) or implementing specific programmes (e.g. raising awareness activities) (OECD, 2024[70]).
5.4.7. Strengthening women’s skills is key for Viet Nam’s economic restructuring
Viet Nam implements several programmes to reskill and upskill women delivered by a plethora of actors. Viet Nam has a network of vocational training establishments that spans a total of 1 901 institutes as of December 2021 (BIBB, GIZ, 2023[71]). Targets under the NSGE envision women representing 40% of enrolment in the vocational education system by 2030. The Vietnamese government also collaborates with the VWU to implement several training programmes, including projects 9 and 939, which aim to support women-led businesses and co-operatives with capacity building activities and business development services. However, relatively few initiatives aim to advance women’s uptake of basic digital skills. One example is a partnership with the private sector to provide free training courses on digital and soft skills, including exclusively for women (PhunuVietnam, 2020[72]). Positively, the National Innovation Center advances women’s participation in STEM through FDI-linked initiatives including training programmes, corporate partnerships, and workshops. Another initiative, the Empower Her Tech programme, implemented in partnership with UNDP, aims to nurture the digital skills of women entrepreneurs (UNDP, 2024[73]). Training and skills programmes are crucial to enable women to acquire new skillsets, but more efforts are needed to meet growing industry demands, particularly in sectors of priority for FDI, such as digital and green industries.
Expanding targeted programmes can boost women’s participation and career advancement prospects in key sectors, and strengthen their role in the digital and green transitions. As noted in this report, nearly 80% of women in the labour market are classified as low- or under-skilled (UN Viet Nam, 2023[9]). Women’s access to technical training still lags behind that of men, with less than a quarter of women receiving such training in 2022, compared to 29% of men (NSO, 2022[20]). With fewer opportunities for skills upgrading, Vietnamese women are less likely than men to transition to green jobs, or reap the benefits of the digital transformation (ILO, 2024[74]; UN Viet Nam, 2023[9]). To that end, Viet Nam may consider developing tailored training programmes to address the skills disparities of women while meeting industry demands. Such programmes can be designed to nurture women’s basic digital skills to allow them to seize new job opportunities in emerging sectors. As women are less likely to occupy mid- to senior-management roles at foreign firms, tailored programmes can aim to advance soft and managerial skills for women to enable them to increase their representation in leadership roles. The investment community can play a key part in delivering skills development initiatives, or supporting existing initiatives by MNEs to train their workforce (OECD, 2022[25]). Examples of investment bodies that are involved in skills development include Costa Rica’s IPA, PROCOMER (Box 5.7).
The Costa Rican Foreign Trade and Investment Promotion Agency (PROCOMER) has pioneered initiatives to strengthen women’s participation in business and international trade. A flagship example is the IMPULSA programme, which operates under the slogan Business with Equality.
IMPULSA seeks to promote gender equality in business and expand opportunities for women-led companies in Costa Rica. The programme strengthens women’s business capacities in strategic areas such as business management, strategic communication, innovation, sustainability, finance, project management and negotiation. In parallel, it aims to improve the readiness of participating firms for entry into international markets or for integration through productive linkages, while promoting gender equality within Costa Rica’s export offer.
The programme is structured in three sequential phases. The first phase consists of awareness-raising and networking workshops. The second phase comprises six virtual modules focused on developing entrepreneurial and leadership skills. The third phase provides a 360-degree approach to business scaling, including support for access to finance and internationalisation.
Beyond the core training components, participants benefit from intensive business training and mentoring, receive an individualised roadmap for internationalisation or supply-chain integration, and gain access to networking opportunities with other women entrepreneurs.
In 2025, the programme reached 196 women entrepreneurs. Participants received a 90% scholarship from the National Training Institute, with beneficiaries covering the remaining 10% of programme costs.
Source: OECD based on Procomer (2025[75]) IMPULSA programme, https://procomer.com/programa-impulsa/.
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← 1. Comparator economies were selected based on a similarity index that considers various country characteristics, including GDP, FDI and trade as a percentage of GDP, sectoral contributions to GDP, and geographical factors.
← 2. The OECD average wage gap is the difference between the median earnings of men and of women relative to the median earnings of men. Estimates of earnings used in the calculations refer to unadjusted gross earnings of full-time wage and salary workers.