‘Northern lights’: Vietnam’s industrial hubs shine up north amid surge in foreign investments

[HO CHI MINH CITY] Northern Vietnam is all abuzz, drawing a majority of foreign direct investment (FDI) in the manufacturing sector this year, thanks to its proximity to the capital Hanoi and the North Asian markets, improving infrastructure and industrial land availability.

The northern area is outshining the traditional hot spot of southern Vietnam; the north drew nearly 60 per cent and 40 per cent more foreign capital inflows and new projects in manufacturing, respectively, over the first nine months of the year, said a recent report.

The November report by Savills pointed out that the northern region registered US$5.3 billion of newly pledged manufacturing FDI in the year-to-September period.