S. Korea Firms Pick Hanoi, HCM City as Top Investor-Friendly Asian Cities

Tuan Minh

16:24 15/02/2016

BizLIVE - Hanoi and Ho Chi Minh City have been chosen as the investor-friendliest cities in Asia for South Korean businesses.

S. Korea Firms Pick Hanoi, HCM City as Top Investor-Friendly Asian Cities

A frontal view of the Hanoi Opera House.(Photo: Tuan Minh)

South Korean corporate officials have picked Hanoi and Ho Chi Minh City the best investor-friendly cities among 10 peers in China, Vietnam and three other Asian countries, according to a poll cited by Yonhap.
According to the survey by the Korea Institute for Industrial Economics and Trade (KIET), Hanoi topped the list with a score of 3.86 points out of five, followed by HCM City with 3.81.
Chengdu came the third with a record of 3.52, followed by Shanghai with 3.36 and Qingdao with 3.22 points.
Other cities polled are India’s Delhi, Mumbai and Chennai, Myanmar’s Yangon and Indonesia’s Jakarta.
Around 22% of the respondents said HCM City has high quality manpower and an ample reserve of workers.
Those who expect improvements in the investment climate in Hanoi and Ho Chi Minh City were 53.7% and 51.6% each. Meanwhile, nearly 80% replied Chengdu’s investment climate will get better while 73.4% picked Mumbai as having potential for improvement.
In contrast, the respondents expect the investment environments in Qingdao and Shanghai will worsen in the future, due to rising costs, including wages, intensifying competition and unstable foreign exchange rates.

TUAN MINH