Foreign investment in Vietnam continues to grow, strongly registered a total of US$21.5 billion in investments in Viet Nam during the first half of 2025, representing a 32.6% year-on-year (YoY)increase. Vietnam FDI 2025 was led by the manufacturing drew in the majority with nearly US$11.97 billion, accounting for 56.5% of total registered capital and marking a 32% YoY increase.  

From manufacturing, US$5.01 billion is due to newly registered manufacturing FDI. Viet Nam recorded a spike in new manufacturing FDI projects during the first half of 2025, with clear momentum from global supply chain realignment. There were 759 new manufacturing projects registered, an increase of 40% YoY. 

FDI by Region: The North Stays Ahead 

The Northern Region remained the top destination, capturing 54% of FDI capital and over 380 projects. Central Viet Nam doubled its share from 3% to 6% compared with H1/2024, with growing interest in low-cost provinces and improving logistics. 

Who’s Investing? Mainland China Leads Again 

China topped the list with 23.4% of all registered capital. Other major players: Singapore (15.6%), Hong Kong (12.3%), Taiwan, and Japan. The U.S. investment remained modest and under 5%. 

In terms of the number of new manufacturing FDI projects, China also dominated with 277 projects. 

Key Provincial Players

Bac Ninh, Ha Nam and Dong Nai stand out as key performers. Bac Ninh accounted for over 13% of new manufacturing FDI in H1/2025, in addition to having the most projects at 115. Ha Nam followed with 10% and 33 projects. In the South, Dong Nai had 8% and 58 projects while BRVT had 8% and 19 projects. 

Value-Added Industries & Diversification Prevails

Viet Nam’s industrial diversification is evident across sectors, with strong momentum in high-tech and value-added segments. Computers, electronics & optical products account for over 19% of new manufacturing FDI and brought 99 projects in H1/2025. 

New Manufacturing FDI Deals by Property Type, H1/2025

Unlike in H1/2024, factory deals took the lead over the land deals in terms of number of projects. With 759 newly registered projects in H1/2025, 410 projects or 54% chose factories over land. This could be a sign of the market’s shift toward speed, flexibility, and scalability, and reflects a growing preference for ready-built facilities, particularly among electronics, light assembly, and packaging manufacturers. These industries are prioritising quick market entry and lower upfront capital expenditure. 

The growing demand for ready-built factories also signals an opportunity for developers focused on standardised, ESG-compliant, and automation-ready stock. As FDI volumes rise, tenant demand is not just about land, but speed to operation. 

By capital investment in land deals still surpasses factories. In the first half of 2025, 76% or US$3.84 billion is due to land deals, and factories account for 24%. This represents a significant increase from 14% in H1/2024. The shortening of the gap indicates the growing interest in the flexibility factory deals can bring, in addition to the lower CAPEX required compared to land deals. 

By number of deals per region, 54% of projects in the North were factories as of H1/2025. In comparison, 57% of the South’s projects were factories. Finally, the Central region recorded 41% towards factory deals in H1/2025 versus 21% in H1/2024. 

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