Along with the trend of
integration in the world, Vietnam is considered a country with rapid and strong
growth, in which, industrialization and modernization are focused on developing
a uniform set and achieve high performance. Hanoi and Ho Chi Minh City are
considered the two cities and dynamic development in Vietnam.
In particular, Hanoi,
the potential capital for developing and attracting foreign and domestic
investment. Therefore, the investment from businesses to the city is seen as an
advantage and the best. To evaluate how such advantages are, the following
article will analyze in detail as follows:
First, the labor force
Hanoi is considered a
capital with a longstanding historical developed tradition. The population is
heavily crowded, reaching about 7 million after 4 times of adjusting the
administrative boundaries in 2014. Ha Noi has become one of the 17 largest
cities in the world. In addition, with favorable conditions, Hanoi is
considered an attractive city for labor, especially qualified and highly
skilled workforce. This is a particular advantage for businesses to
invest in Hanoi, because the amount of labor leads to a consequence
that cost for labor is cheap and a large workforce will provide for industries
requiring a large amount of labor force.
Second, the pace of
economic development
In 2014, the economy of
Hanoi has continued to grow and controlled inflation. In addtion, GDP in the
province is estimated at 8.8% and revenue is estimated at 130.000 billion, with
103% of the mathematics. Besides, administrative reform, improvement on the
investment environment, business environment, policies to remove difficulties
for enterprises often deploy, which made PAR index of cities rise 2 levels
compared with 2012 and No. 5 of the 63 provinces and cities nationwide. Thus,
with the stable and strong economic development, Hanoi is a city that brings
stability for businesses to invest and develop business in
this city.
Thirdly, facility
With the aim of developing
Hanoi based on critirea of synchronous and modern infrastructure, leadership of
Hanoi has attempted to offer policies to promote infrastructure construction of
the city in order that Hanoi will become more modern, in which, the traffic
system in Hanoi must be built and upgrades more modern. This is considered
particularly advantage, because the synchronous development of infrastructure
will bring to the development of economy of the city.
Fourthly, administrative
and tax policies
With attractive policies
for investment, Hanoi has implemented policies solving administrative
procedures with only a door. This policy is seen as a new step forward the
people of Hanoi in general and businesses having demand to invest in Hanoi in
particular. With this open policy, the procedures for establishing
businesses, dissolution, business transformation become quickly and
easily than ever before, creat favorable conditions for the development of
business and resolve administrative procedures. In addition, in order to
facilitate business development for businesses, Hanoi has many policies to
reduce taxes in order to create favorable conditions for development of new
business with low capital.
Fifthly, geographic
location
Judged to be a
convenient location, with synchronous traffic system, a northern – southern
railway, highway 1A, along with the expanded domestic and international routes,
Hanoi is considered a city with the most convenient trade location in Southeast
Asia and the gateway to the East Sea of Laos and other countries. Thus, Hanoi
is the right choice of businesses that need an exchange between domestic and
international provinces.
Sixthly, broad market
With the population of 7
million, belonging to one of the 17 cities with the largest population in the
world, Hanoi is considered a city which has the largest consumer goods market
in the country. Abundant work force, along with the large number of people from
suburbs, strong demand for consumer products, services lead to favorable
conditions for businesses in production and consumption of consumer products
and services. These come from a reason that if the demand rises, the number of
products will also lead to increase and as a consequence, economic growth of
enterprises will also increase. It can be said that this is a particular
strength of the city that businesses investing here are looking forward. From
the analysis given above, it can be said that Hanoi is considered to be an
attractive destination for small and medium enterprises, especially for
enterprises with foreign investment into the Vietnam market. To better
understand how to establish enterprises and choose the best type of enterprise,
ANT Consulting is honored to be served our customers and provide the best
services for customers. We hope cooperation from you.
ANT Consulting is here
to assist you from the outset; providing corporate intelligence, risk advisory,
management consulting services that assist market entrance, and ensure
efficient business start-up operation. Our services are as following:
We strive to save your
cost by guiding you towards economical solutions that comply with local
legislation and procedures. We support you through early logistic solutions and
carry you through as your business grows.
We aim to bridge the gap between international best practices and local
cultures and assist foreign companies and organizations entering Vietnam market
to overcome commercial and regulatory issues.
We could be reached at email: ant@antconsult.vn or tel: +848
3520 2779 . To learn more about us, please visit www.antconsult.vn
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