Hanoi and Ho Chi Minh city among the global top 10 most dynamic cities
In the JLL’s City Momentum Index which just released for the annual World Economic Forum (WEF) in 2018, Hanoi and Ho Chi Minh City are listed in the world’s top 20 most dynamic cities with the ranking 3rd and 8th respectively.
According to JLL, the rankings are tracked by studying socioeconomic and commercial real-estate indicators of 131 major emerging business hubs across the world to identify the urban economies and real-estate markets that are currently undergoing the most rapid expansion in the short term. As a sign of the emerging economies in Asia, 19 of the top 20 most dynamic cities located in the Asia Pacific region.
JLL City Momentum Index 2018:
The world’s top 20 most dynamic cities
Source: JLL, 2019
Hanoi’s dynamic economic growth, fast-growing populations, and incomes have driven its performance to reach rank 3rd and are promising to continuously increase over the next five years. As a city of legislation and government, huge investment for improving infrastructure and connectivity with nearby industrial zones such as Bac Ninh, Hai Phong has boosted Hanoi’s property market up to a higher level in various sectors. Considered as the second economical-developed city in Vietnam, Hanoi has its own strengths to attract foreign investors like lower labor and living cost in comparison with Ho Chi Minh City.
Considered as the economic center of Vietnam, Ho Chi Minh City has made a rapid progress to rank at the 8th in the global top 20 most dynamic cities because of their concrete steps to stand out their business environment. This city of over 8 million inhabitants is viewed as one of the fastest growing markets for technology and manufacturing in the region. Following the success over recent years in attracting foreign direct investment, favorable structural reforms, low costs, fast consumer market expansion and transition towards higher-value activities are the most attractive points to catch investors’ attention. However, traffic congestion remains a big problem there and affects seriously to quality life and productivity.
In sum, it takes long-term foreign direct investments to nurture a sustainable momentum and a maturing economy. Therefore, the transparency of governance is really vital for investors’ decision, especially in real estate market.
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