While Americans flock to Hanoi and Saigon to invest and conduct business, Vietnam’s central city of Danang is getting attention for its leadership in economic development. American investor Indochina Capital alone has invested $300 million in real estate there.
The investment appears to be well-placed. Danang ranks first among 63 provinces as a place to do business, according to a survey of 7,300 private Vietnamese businesses based on how long it takes to start a business, corruption, bureaucratic compliance, and local leadership. Ho Chi Minh City ranked 23rd and Hanoi 43rd.
Danang has a population of 900,000 in the center of Vietnam and lost political clout on a national scale over the years. Even so, it is in a strong position as the hub of central Vietnam with emphasis on high-tech industry and tourism.
More on leadership in Danang, Vietnam