Rapidly expanding industrial hubs fostering significant progress
In the dynamic landscape of Southeast Asia, two significant developments are taking shape in Vietnam. The formation of a new province, Bắc Ninh Province, and the merger of HCM City, Bình Dương, and Bà Rịa - Vũng Tàu to create Vietnam's biggest megacity, HCM City, are poised to drive economic growth and development across the region.
The new Bắc Ninh Province, with a population of over 3.6 million, is one of Việt Nam's most dynamic growth poles. Strategically positioned as the northeastern gateway to Hà Nội, it connects the growth triangle of Hà Nội, Hải Phòng, and Quảng Ninh. The combined economic output of Bắc Ninh reached VNĐ440 trillion ($16.9 billion) in 2024, placing it fifth nationwide in terms of GRDP.
Bắc Ninh, located along two of the country's most robust economic corridors with good connectivity with surrounding provinces, is undergoing robust infrastructure development. This includes ring roads No 4 and 5, the Lào Cai-Hải Phòng railway, the planned Hà Nội-Quảng Ninh high-speed rail, and the upgraded Gia Bình Airport.
In the first eight months of 2025, the new province registered an economic growth rate of 10%, ranking fifth nationwide, and drew in some $16 billion in new investments. Bắc Ninh aims to achieve an average GRDP growth rate of 11-12% per year from now to 2030, per capita GRDP at $9,500-9,700, and a total trade revenue of $1.12 trillion.
Meanwhile, the new HCM City, Vietnam's largest integrated industrial zone, is a combination of the country's financial hub and a manufacturing powerhouse. With over 60 industrial parks, export processing zones, and clusters, it produces over 30% of Vietnam's total manufacturing output. The new HCM City has cumulative foreign direct investment (FDI) exceeding US$90 billion, nearly half of Vietnam's total.
More than $1 billion of the FDI inflow went into high-tech industries in the new HCM City. Former Bắc Ninh has emerged as Việt Nam's electronics hub and a magnet for FDI with 16 industrial parks and a cumulative FDI surpassing $32 billion. Bắc Giang, once part of Hà Bắc, rose as a new star of supporting industries with 16 industrial parks and major high-tech projects such as Foxconn Shunsin and Luxshare ICT.
In just one month after the merger, FDI inflow surged 45.7% year-on-year, reaching $6.2 billion. The new HCM City is one of Southeast Asia's most robust marine and energy infrastructure systems, producing over Vietnam's largest integrated industrial zone, with over 60 industrial parks, export processing zones, and clusters.
The new HCM City, with a population of around 14 million people, is Vietnam's biggest megacity. It is poised to deliver more balanced and sustainable growth, creating a mega industrial region alongside the renewed union of Bắc Ninh and Bắc Giang. This merged entity, named Bắc Ninh Province, continues under the name Bắc Ninh and has significant economic potential and high growth rates.
