Ho Chi Minh City (Source: VNA) HCM City (VNA) - HoChi Minh City will become the second fastest growing economy in Asia by2021, according to a study by the UK-basedOxford Economics, reported Bloomberg.
In the next five years, HCMC's economyis expected to grow by 8 percent each year, according to the study, which rankedAsia's 30 largest cities, Bloomberg cited the study as saying.
The ranking has reflected the city’ssuccess in establishing itself as a manufacturing centre, as well as its strongservices sector, according to Bloomberg.
In January, Chicago-based financial andprofessional services firm JLL ranked HCM City as the world’s second mostdynamic city, after India’s Bangalore.
The city was categorised as a high potentialcity driven by low costs, rapid consumer market expansion and high levels offoreign investment.
In the first half of 2017, the southerneconomic hub attracted 2.15 billion USD in foreign investment, double theamount it received in the same period last year, data from the Ministry ofFinance showed.
According to the report, Delhi will have the fastestgrowth of any city in Asia. Following HCM City, other Indian cities, includingChennai, Mumbai, Hyderabad, Kolkata and Bangalore, are set to expand the mostacross the region.
They are followed by Tienjin city of China, Manila of thePhilippines and China’s Beijing.-VNA
In the next five years, HCMC's economyis expected to grow by 8 percent each year, according to the study, which rankedAsia's 30 largest cities, Bloomberg cited the study as saying.
The ranking has reflected the city’ssuccess in establishing itself as a manufacturing centre, as well as its strongservices sector, according to Bloomberg.
In January, Chicago-based financial andprofessional services firm JLL ranked HCM City as the world’s second mostdynamic city, after India’s Bangalore.
The city was categorised as a high potentialcity driven by low costs, rapid consumer market expansion and high levels offoreign investment.
In the first half of 2017, the southerneconomic hub attracted 2.15 billion USD in foreign investment, double theamount it received in the same period last year, data from the Ministry ofFinance showed.
According to the report, Delhi will have the fastestgrowth of any city in Asia. Following HCM City, other Indian cities, includingChennai, Mumbai, Hyderabad, Kolkata and Bangalore, are set to expand the mostacross the region.
They are followed by Tienjin city of China, Manila of thePhilippines and China’s Beijing.-VNA
VNA
