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. The investors would choose to invest and set up company in Hanoi because of the benefits the city could offer.
First, the skilled labor force for hiring
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. A large workforce will provide adequate resources for industries requiring a large amount of labor force.
Second, the pace of economic development
Over the years, the economy of Hanoi has continued to grow and controlled inflation. In addition, 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.
Third, infrastructure to encourage investors to set up company in Hanoi
With the aim of developing Hanoi based on criteria 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 upgraded. This is considered particularly advantage, because the synchronous development of infrastructure will bring to the development of economy of the city.
Fourth, administrative and tax policies
With attractive policies for investment, Hanoi has implemented policies solving administrative procedures with one door policy. 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.
Fifth, geographic location
Hanoi offers convenient location, with synchronous traffic system, a northern – southern railway, highway 1A, along with the expanded domestic and international routes, it 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.
Sixth, 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.
It can be said that Hanoi is considered to be an attractive destination for investment. It is important that the client also consider other matters including regulatory, political environment before making decision.