Vietnam Report employs a research methodology based on three key criteria: the number of large enterprises (VNR500) from 2021–2025, the investment environment and FDI attraction in 2025, and contributions to national growth.
Data is collected from state management agencies, socio-economic statistics, Vietnam Report’s large enterprise database, and quantitative and qualitative analysis following international standards.
Phú Thọ: Phú Thọ is transforming into a medium-scale industrial hub, logistics center, and cultural tourism destination, directly connecting Hanoi with Tuyên Quang, Lào Cai, Sơn La, and Thanh Hóa. As the western gateway to the capital, Phú Thọ serves as a vital link between the Red River Delta and the Northwest region, facilitating strategic flows of goods, labor, and services.
The province’s economic structure is shifting from agriculture and light industry to processing, electronics, new materials, and logistics. Its well-planned industrial zones, equipped with extensive clean land and international-standard infrastructure, attract major corporations like Japfa Comfeed, Piaggio Vietnam, Việt Đức VG PIPE, AMY GRUPO, and Daesang Vietnam.
Bắc Ninh: In 2025, Bắc Ninh enters the Top 10 Most Attractive Localities for Large Enterprises for the first time. Located in the “production-technology belt” surrounding Hanoi, Bắc Ninh is a prime destination for global electronics and semiconductor companies. It also serves as a critical link between Hanoi (the knowledge and management hub), Hải Phòng (the import-export gateway), and neighboring production centers like Hưng Yên. Its strategic geographic and inter-regional infrastructure position Bắc Ninh as one of ASEAN’s most integrated localities in the global technology supply chain.
According to the General Statistics Office (Ministry of Finance) as of October 2025, Bắc Ninh leads in newly registered and adjusted FDI capital, with a total of $4.94 billion, up 11.3% year-on-year.
Quảng Ninh: Major corporations have chosen Quảng Ninh as a strategic destination, including the Northeast Corporation with energy and construction material projects, Calofic (a Wilmar-Singapore joint venture) expanding its modern cooking oil complex in Cái Lân Industrial Zone, and BIM Group developing luxury resorts, hotels, and large-scale renewable energy projects.
Quảng Ninh’s advantages lie in expanding coastal economic zones, clean industrial parks, and integrated urban-tourism-seaport models. This enables the province to sustain high growth while reshaping its economy toward reduced resource exploitation and increased clean production, high-value services, and tourism.
Hà Nội: According to the General Statistics Office (Ministry of Finance) as of October 2025, Hanoi attracted $3.63 billion in newly registered and adjusted FDI, 1.7 times higher than the same period in 2024.
Hanoi boasts the nation’s largest intellectual ecosystem, encompassing high-quality human resources, universities, research institutes, R&D centers, and technology enterprises. Meanwhile, satellite provinces like Bắc Ninh (electronics), Phú Thọ (automotive-mechanics), and Hưng Yên (supporting industries) focus on production.
Hải Phòng: Hải Phòng serves as the region’s production, logistics, and export hub, creating a vital axis for international trade flows.
Alongside its seaport infrastructure, Hải Phòng hosts modern industrial zones and economic areas like Đình Vũ – Cát Hải, Tràng Duệ, and VSIP, attracting global technology corporations such as LG Electronics (South Korea), Ford Vietnam (USA), LS-VINA (South Korea), and Nhựa Phú Lâm (Taiwan).
In the first 10 months of 2025, Hải Phòng’s newly registered and adjusted FDI reached nearly $2.08 billion, up 45.9% year-on-year.
Hưng Yên: Hưng Yên is repositioning itself as a high-tech industrial center, playing a crucial supporting role in the electronics and mechanics supply chain of the Northern region. Its momentum stems from its strategic location near major production hubs (Bắc Ninh, Hải Phòng, Ninh Bình) and the spillover effects from Hanoi’s expanded connectivity belt, making Hưng Yên a top destination for supporting industries.
Key players shaping Hưng Yên’s industrial landscape include Hòa Phát Group, Stavian Chemicals, and Mavin Austfeed.
Ninh Bình: While many localities rely on a single flagship industry, Ninh Bình thrives on a “three-pillar” model: manufacturing, eco-cultural tourism, and specialized agriculture. Post-merger, its strategic position is strengthened by seamless connectivity with Hanoi and Thanh Hóa, positioning Ninh Bình as a balance point in the region’s production-service-tourism triangle.
Đồng Nai: Đồng Nai is entering a new acceleration phase as administrative reorganization and expanded regional connectivity establish it as a key pillar of the Southern economic structure.
From its role as a central industrial and high-tech agricultural hub, Đồng Nai has developed a diverse enterprise ecosystem featuring major players: state-owned enterprises like Sonadezi and Dofico driving economic-industrial infrastructure; national-scale corporations like Tín Nghĩa and Trường Hải; and prominent FDI investors such as Cargill, Nestlé, and Sunjin Vina.
Post-merger, Đồng Nai benefits significantly from its strategic location adjacent to the “economic metropolis” of Ho Chi Minh City, forming the nation’s largest production-logistics-seaport axis.
Tây Ninh: Tây Ninh is emerging as a unique growth pole in the South, transforming from a traditional border province into a strategic logistics, trade, and renewable energy hub through administrative reorganization and expanded regional connectivity.
Positioned between Ho Chi Minh City and Phnom Penh, Tây Ninh serves as Vietnam’s gateway to Cambodia and the Greater Mekong Subregion.
Its competitive edge in the new phase lies in renewable energy. Additionally, border trade is a strong growth driver for Tây Ninh.
Ho Chi Minh City: Previously, Ho Chi Minh City, Bình Dương, and Bà Rịa – Vũng Tàu operated as independent growth poles—services, industry, and seaports, respectively. Post-merger, these components unite into a cohesive ecosystem, with Ho Chi Minh City as the coordinating nucleus. Here, decisions on capital, products, investment expansion, and innovation originate, while the industrial and seaport poles provide support, forming a complete arc for production and export.
The city has become the nation’s largest financial and service center, a key FDI attraction point, and a leader in business model innovation and strategic human resource supply.
In the first 10 months of 2025, Ho Chi Minh City attracted $2.63 billion in newly registered and adjusted FDI, 2.1 times higher than the same period in 2024.
High-Speed North-South Railway Project: Direct Investment Emerges as the Sole Viable Model
Renowned economist Vu Dinh Anh asserts that the optimal financing model for the North-South high-speed rail project is direct private investment, wherein the state provides 80% of the capital through loans, and private investors contribute the remaining 20%. This approach surpasses both traditional public investment and public-private partnerships (PPPs) in terms of efficiency and feasibility.
Interest Rates Remain Stable to Bolster Year-End Business and Production Growth
With a stable macroeconomic environment, controlled inflation, and robust capital mobilization, financial institutions are poised to optimize costs and maintain competitive lending rates. This strategic approach empowers businesses by fostering growth in production, trade, and services, particularly during the critical year-end period.
Striving for Disbursement to Fuel Growth
This morning, November 27th, Deputy Prime Minister Le Thanh Long chaired a meeting at the Government Office to discuss the disbursement of public investment capital for the Ministry of Health and the Ministry of Education and Training. The meeting also addressed An Giang province’s production and business activities, public investment capital disbursement, import-export, infrastructure development, social housing, national target programs, and the implementation of the two-tier local government system.
Interest Rates Remain Stable to Bolster Year-End Business and Production Growth
A stable macroeconomic environment, controlled inflation, and increased capital mobilization have empowered credit institutions to reduce costs and maintain competitive lending rates. This strategic financial landscape fosters robust growth in production, business, trade, and services, particularly during the year-end period.
Autumn Economic Forum 2025: Driving Dual Transformation in Logistics and Maritime Ports
The parallel session of the 2025 Autumn Economic Forum, themed “Smart Logistics and Seaports Linked to Dual Transformation Goals,” took place on the morning of November 26th.
