In December 2024, Vietnam’s manufacturing and processing industry registered 139 new projects with US$5.38 billion in newly registered capital, according to data from Vietnam’s Ministry of Planning and Investment. This represents a 31.13 percent increase in the number of new projects compared to November, which saw 106 new projects with US$3.13 billion in newly registered capital.
Vietnam’s manufacturing and processing sector is a cornerstone of the country’s economy, accounting for a significant portion of GDP and driving its export-led growth model. The sector spans a wide range of industries, including electronics, textiles, footwear, food processing, machinery, and high-tech manufacturing. Vietnam’s competitive labour costs, strategic location, and integration into global trade agreements, such as the CPTPP and EVFTA, have positioned it as a key destination for manufacturing and export activities.
Foreign direct investment plays a critical role in the sector’s development, with major investors from South Korea, Japan, Taiwan, China, and the United States. Prominent companies like Samsung, LG, Intel, Nike, and Foxconn have established large-scale production facilities in Vietnam, contributing to the country’s integration into global supply chains. Key industrial zones, such as those in Bac Ninh, Binh Duong, Dong Nai, and Hai Phong, have provided modern infrastructure and favourable policies to attract foreign manufacturers.
The government has prioritised upgrading the sector by encouraging investments in high-tech and value-added manufacturing while promoting sustainable practices. Vietnam’s manufacturing and processing sector is expected to continue its growth trajectory, supported by ongoing improvements in infrastructure, workforce skills, and policy reforms, further strengthening its role as a regional and global manufacturing hub.
See also: Manufacturing in Vietnam