Tocco Report: Vietnam Industrial Stack 2030 Edition

Policies × Manufacturing × Economy + 7 industries · suppliers · 5 playbooks

Vietnam has outgrown its label as a low-cost assembly line. With exports topping US$405.5 billion in 2024, trade flows now more than double the size of its GDP. Global manufacturers from Samsung to Nike, Intel to Pouyuen, anchor supply chains here, while foreign capital stock has surged past US$322 billion, driving more than 70% of the country’s exports. Vietnam is no longer on the margins of globalization, it is embedded in its core.

What makes this moment decisive is the shift from assembly to capability. From robotics and smart factories to biotech and advanced materials, Vietnam is stretching into higher-value terrain, even as weak supplier depth, rising wages, and energy constraints remain. The stakes are clear: execution will determine whether Vietnam cements its role as an industrial powerhouse or stalls at mid-value production. This report by the Tocco team maps that stack, offering a clear-eyed view of Vietnam’s industrial ascent and its limits.