HCMC – High-tech manufacturing, rather than real estate, was the main focus of foreign investors in the first nine months of 2024, showed data from the General Statistics Office of Vietnam.
Foreign direct investment (FDI) into Vietnam in January-September rose by 11.6% year-on-year to US$24.78 billion, especially in those provinces having sufficient infrastructure.
In September alone, FDI inflows hit a peak of US$4.26 billion, the highest monthly figure so far this year.
Troy Griffiths, deputy managing director at Savills Vietnam, said FDI growth had decelerated compared to previous years, but foreign investment remains steady with a shift toward technology-driven projects, particularly in electronics and components manufacturing.
FDI into 10 provinces and centrally run cities, including Bac Ninh, Quang Ninh, Ba Ria-Vung Tau, Binh Duong, Dong Nai, Bac Giang, Ninh Thuan, HCMC, Haiphong, and Hanoi, accounted for 80.1% of new projects and 72.9% of the nation’s foreign capital pledges in the first nine months. Vietnam is increasingly positioning itself as a high-tech manufacturing hub.
Investments from China, including Hong Kong, have grown significantly. This trend has also fueled demand for office space in major cities, particularly in HCMC, where 63% of upcoming supply is focused on meeting green certification standards to align with environmental, social, and governance (ESG) requirements.
