As billings continue to decline in the US, the nation of Vietnam is quickly emerging as a hot spot for Western architecture firms seeking new work. About two dozen North American and European firms now have projects in the Southeast Asian country, including Foster + Partners, HOK, and Skidmore, Owings & Merrill (SOM). Some are even reportedly opening permanent offices there.
Vietnam is currently undergoing a remarkable economic transition, spurring much new development. The normalization of trade relations with the US in 2001 and relatively cheap labor costs–half that of manufacturing in China, according to the World Bank–has fueled massive foreign investment in the industrial sector. The newly wealthy communist government is redeveloping much of its now-expendable state-owned farmland, creating a construction boom.
