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Vietnam is strengthening its position in global value chains, as Ho Chi Minh City and Hanoi have been ranked among the five fastest-growing urban centres worldwide in the latest Growth Hubs Index, reports VNA, a partner of TV BRICS.

Experts believe that the ranking highlights the increasing importance of Asia as a driver of global urban expansion, supported by favourable demographics, rapid urbanisation and ongoing shifts in manufacturing. Within this context, Vietnam stands out, with Ho Chi Minh City placed second globally and Hanoi fifth, reflecting strong economic momentum and rising international relevance.

Experts point to structural advantages underpinning this growth, including a young workforce, expanding consumer demand and continued urban development. These factors are fuelling activity across key sectors, particularly industrial production, logistics, housing, and mixed-use infrastructure.

Vietnam’s emergence is also closely linked to the ongoing reconfiguration of global supply chains. This inflow is strengthening industrial capacity while driving demand in major urban hubs, especially Hanoi and Ho Chi Minh City.

Vietnam is actively investing in this transition, with large-scale infrastructure projects reshaping the country’s urban and economic landscape. Around 234 projects are currently under way, with a total estimated investment exceeding US$129 billion.

Key developments include a new airport, expanding metro systems in Hanoi and Ho Chi Minh City, and more than 380 kilometres of newly operational sections of the North–South Expressway. These projects are expected to create new economic corridors and reinforce connectivity across the country.

Analysts suggest that Vietnam’s ability to translate rapid growth into sustainable urban development will be crucial in maintaining its upward trajectory, as global competition among emerging cities continues to intensify.