HCMC And Ha Noi Secure Second And Fifth Positions Among The World's Fastest-Growing Cities

TABLE OF CONTENT 1. Viet Nam a Rising Force in Global Urban Growth 2. Asia Accelerates as Viet Nam Benefits from Supply Chain Shifts 3. Infrastructure: The New Foundation of Urban Resilience 4. Long-term Growth Depends on Execution

1. Viet Nam a Rising Force in Global Urban Growth  

According to Savills Growth Hubs Index, over the next decade, HCMC and Ha Noi are among the world’s fastest-growing cities. The southern metropolitan placed second, while Ha Noi ranked fifth, highlighting the country’s increasingly important role within regional value chains and Asia’s shifting economic landscape. 

Amid ongoing geopolitical volatility and the continued restructuring of global supply chains, cities remain key drivers of economic growth. Savills analysis of 245 global cities indicates that future growth will increasingly be concentrated in Asia, supported by favourable demographics, rapid urbanisation, and strong manufacturing relocation trends. 

The inclusion of HCMC and Ha Noi among the top-ranked cities not only reflects the country’s strong economic potential but also reinforces its growing position within regional manufacturing and investment networks. 

However, rapid growth alone is not sufficient. A city’s long-term success will be determined by its ability to deliver sustainable development and adapt to change, defining its overall resilience. 

2. Asia Accelerates as Viet Nam Benefits from Supply Chain Shifts  

According to Chris Marriott, CEO of Savills Southeast Asia, the region’s young population is becoming a major driver of economic growth. Expanding labour forces, accelerating urbanisation, and growing consumer spending are creating strong demand across multiple real estate sectors, including industrial, logistics, residential and mixed-use developments. 

Meanwhile, the “China+1” strategy continues to encourage manufacturers to expand into emerging markets, with Viet Nam as one of the key destinations. Increasing FDI inflows are not only strengthening the country’s manufacturing base but also creating spillover effects across the real estate market, especially in HCMC and Ha Noi, where infrastructure, labour and consumer demand are concentrated.  

That said, Savills believes not every fast-growing city will be able to sustain its competitive edge over the long term. The Resilient Cities Index highlights that leading global cities (New York, Tokyo, London and Seoul) share a common ability to balance economic growth with quality of life, while continuing to invest in long-term competitiveness. 

In this context, resilience is becoming an increasingly practical benchmark for evaluating cities. This can be examined through economic fundamentals, technology ecosystems, ESG standards and quality of living environments. More importantly, the ability to effectively execute development strategies is becoming a critical differentiator. 

Neil MacGregor, CEO of Savills Vietnam, comments, “Viet Nam has all the fundamentals needed to sustain strong growth, from infrastructure and foreign investment to domestic demand. However, the key factor will be the pace of execution. Markets that can turn plans into reality faster will be the ones best positioned to capture opportunities.”  

3. Infrastructure: The New Foundation of Urban Resilience  

As resilience becomes a key benchmark for global cities, infrastructure will play a critical role in enabling Viet Nam to translate growth potential into long-term development. 

Large-scale public investment is reshaping the country’s urban and economic landscape. With 234 infrastructure projects underway and total investment reaching VND 3.4 quadrillion, major developments, including Long Thanh International Airport, metro systems in Ha Noi and HCMC, and more than 380 km of newly operational North South expressways, are opening up new economic corridors. 

Beyond improving connectivity, infrastructure is also reshaping urban space and redirecting investment flows. Satellite areas surrounding HCMC and Ha Noi are emerging as new growth clusters, while industrial real estate is benefiting from the expansion of integrated manufacturing and logistics ecosystems. 

Importantly, the role of infrastructure extends beyond physical projects. Factors such as living standards, healthcare, education and overall urban quality, referred to as “soft infrastructure”, are increasingly influencing decisions made by businesses and highly skilled workers. These are also key components of a city’s long-term competitiveness.  

4. Long-term Growth Depends on Execution  

As the global growth centre continues shifting toward Asia, Viet Nam is targeting double-digit economic growth, standing on two key pillars: infrastructure investment and FDI inflows. 

According to experts, the determining factor will not simply be the scale of investment, but the effectiveness of execution, from project delivery and legal frameworks to financial conditions. This pace will directly influence how quickly new growth hubs emerge, as well as the expansion of urban areas and future real estate supply. 

Over the long term, supported by stable macroeconomic fundamentals, sustained FDI inflows, and rapid urbanisation, the country’s outlook remains highly positive. Nevertheless, MacGregor emphasises that the question is no longer whether Viet Nam will grow, but how quickly and effectively it can translate this growth into tangible outcomes.