Vietnam Set to Become Regional Manufacturing Tech Hub This Year

Written By Lavinia Abirami Selva Kumaran

The Star | 2 January 2025

A camera component production line at a MCNEX VINA Company factory in Ninh Bình Province, fully invested by the South Korean company MCNEX Co., Ltd. - Photo: VNA/VNS

HANOI: Vietnam has the potential to become a manufacturing hub in the region this year, especially in fields involving technology, as global companies have expressed interest in expanding operations in the country.

Foreign direct investment (FDI) into Vietnam reached nearly US$31.4 billion in the first 11 months of 2024, with disbursed FDI estimated at about $21.7 billion, an increase of 7.1 per cent compared to the same period in 2023.

The year 2024 was the third consecutive year that the country disbursed over $20 billion in FDI.

Vietnam is among the top 15 developing countries attracting the most FDI globally.

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