Hanoi is known as the political center of Vietnam, but Ho Chi Minh City is the economic center. This amazing city, formerly known as Saigon, is bustling with steady cash flow and a teeming population. Turn in any direction in the city, and you will see non-stop traffic, an abundance of offices, banks, and shopping centers, and the commingling of people coming from all backgrounds. In just the last decade, Ho Chi Minh City’s economy has developed with rapid pace, overcoming other major cities by a large margin and attracting the attention of wealthy foreign investors. Ho Chi Minh City is the perfect place to make your first investment in Vietnam, as you stand to see the highest returns.
This Southern Vietnam city is home to over eight million residents, and it grosses $36 billion annually. Of those eight million residents, 4.7 million make up the workforce. Unemployment is very low, and there are 24 different rural, suburban, and urban districts in which you can invest. It is a city filled with tourist attractions as well. With so many significant numbers to look at, the popularity of the city with regards to foreign investments has grown tenfold in just two decades.
Perfect Strategic Location
Ho Chi Minh City lies in the heart of the Southeast Asia region, an area featuring the fastest regional growth in the workforce and a market of over 600 million people. Promising markets such as China and India are well within reach for this opulent city. In fact, Ho Chi Minh City is only 1700 km south of Hanoi, 881 km east of Bangkok, Thailand, and 297 km east of Phnom Penh, Cambodia. With so many growing markets within reach, you have the perfect strategic location from which to buy up property for sale in Vietnam. For most businesses, location is the primary key, as there is a lot of money to be saved through appeasing the need for expensive transportation.
Combined with other provinces such as Dong Nai, Binh Duong, and Ba Ria-Vung Tau, Ho Chi Minh City forms the Southern Key Economic Zone which comprises 50-percent of the national economic capacity. Ho Chi Minh City contributes 20-percent of Vietnam’s GDP all on its own. When you invest in this bustling city, you open the door to more riches than you ever could have imagined. You may, in fact, change your life with the right decisions. Hundreds of millions of dollars have been invested in the city by foreign investors already, and its popularity is only growing.
Favors Economic Activities
Ho Chi Minh’s dynamic economy stretches back centuries, back to when a booming trade economy was earning the city glorious bounties and riches. Local residents embraced relationships with foreigners and welcomed the income brought along by open trade. Over time, agriculture grew, and countries such as France brought economic stability through the channel of frequent trade. Today, business investors in Ho Chi Minh City deal with fewer restrictions and regulations than in other Northern Cities. The entire process from start to finish is far more straightforward and less bureaucratic than in other countries. With so many reasons to invest, there should be nothing stopping you from taking the first step today.