Quang Ninh & Hai Phong Lead Vietnam’s GRDP Growth in 2025: Implications for Industrial and Regional Investment

Vietnam’s regional economic landscape in 2025 saw remarkable momentum, with several provinces recording robust Gross Regional Domestic Product (GRDP) growth rates that outpaced the national average. At the forefront were northern localities Quang Ninh and Hai Phong, which recorded the highest GRDP increases nationwide, reflecting their rising economic clout and investment appeal.

Record-Setting GRDP Performance in 2025

According to data released by the General Statistics Office, Vietnam’s national GDP grew by 8.02% in 2025 compared to 2024 — one of the strongest expansions in recent years. Within this context, Quang Ninh achieved a GRDP growth rate of 11.89%, the highest in the country, while Hai Phong posted 11.81%, narrowly trailing its neighbor. These figures positioned them at the top of the growth rankings among 34 provinces and centrally governed cities nationwide.

Six provinces and cities exceeded double-digit GRDP growth, including Ninh Binh, Phu Tho, Bac Ninh, and Quang Ngai, but none matched the performance of Quang Ninh and Hai Phong. Most other localities recorded growth between 7–10%, while five provinces remained below 7%

Drivers of Northern Growth: FDI, Industry, and Services

The exceptional growth at the regional level was underpinned by several converging factors:

• Industrial Expansion & FDI Utilization:
  Both Quang Ninh and Hai Phong leveraged strong industrial bases and strategic use of foreign direct investment (FDI) to fuel expansion. In Quang Ninh, industrial developments and services — particularly tourism — contributed to broad-based economic performance, supported by new projects within industrial parks and special economic zones.
• Service Sector Momentum:
  The service economy, including tourism, logistics, and trade, played a pivotal role in Quang Ninh’s growth, with the province experiencing substantial gains in visitor numbers and service activity that complemented industrial production.
• Strategic Infrastructure & Port Functions:
  Hai Phong’s economic success is closely linked to its status as a maritime and logistics hub. The Dinh Vu-Cat Hai economic zone and expanding port facilities continue to attract investment and support export-oriented manufacturing, helping sustain growth over the long term.

Regional Contribution to National Growth

Though Quảng Ninh and Hải Phòng led the growth rate rankings, Vietnam’s largest economies — including Hà Nội, Ho Chi Minh City, Đong Nai, and Bac Ninh — continued to make significant contributions to overall GDP growth due to their larger economic scale. Together, these localities accounted for more than half of national GDP expansion.

This dynamic highlights an ongoing trend: high-growth provinces with smaller economic bases, such as Quang Ninh, are emerging as strategic growth poles, even as traditional economic hubs maintain their roles in aggregate contribution. The synergy between scale and growth rate signals evolving regional development patterns.

Investment Implications for Real Estate & Industrial Markets

For stakeholders in industrial real estate and commercial investment, these GRDP figures carry important implications:

• Rising Demand for Industrial Land: As industrial zones expand and FDI inflows strengthen, demand for logistics, distribution facilities, and factory campuses in Quảng Ninh and Hải Phòng is expected to grow.
• Enhanced Infrastructure Attractiveness: Continued infrastructure development, particularly in transport connectivity, port facilities, and free trade zones, will likely amplify these regions’ roles as gateways for global supply chains and export-oriented manufacturing.
• Spillover Effects on Service-Sector Real Estate: Beyond industrial land, service-oriented assets like business parks, warehousing, and mixed-use developments stand to benefit from broad economic growth, particularly as urbanization and workforce mobility increase.

Challenges and Outlook

Despite strong growth figures, analysts caution that maintaining this momentum will require sustained policy support. Challenges such as logistics cost pressures, slower disbursement of public investment, and recovery in domestic consumption may temper short-term growth prospects. Enhanced reforms to support businesses and expedite capital deployment will be crucial in the coming years.

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