Urban renewal via adaptive reuse of industrial facilities can present unique opportunities, challenges, and a driving force for new possibilities in the development of Hanoi's urban areas. In developed countries, numerous examples of preserving, restoring, and converting industrial heritage have demonstrated significant development potentials and positive impacts on the respective regional cultural, educational, environmental, social, and economic aspects, including industrial sites. Indeed, Hanoi desires to relocate hundreds of industrial facilities from its inner city. This chapter on the direction of transformation and urban renewal of these industrial facilities becomes necessary. This presentation introduces the research results within the scope of the international project, namely EUNIC “Repurposing Industrial Heritage,” initiated and implemented by the French Institute in Vietnam during 2021–2022. We compiled data from over 100 case studies of industrial heritage reconversion in Europe, and we developed a data input method, data mapping, data analysis, and evaluation to draw the characteristics of industrial heritage and the underlying principles of their design, renovation, and functional transformation. These research findings were then compared with the situation in Hanoi to derive valuable and potentially beneficial lessons for the city.