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Asian Migration and Global Cities

Anne Cong-Huyen, Jonathan Young Banfill, Katherine Herrera, Samantha Ching, Natalie Yip, Thania Lucero, Randy Mai, Candice Lau, Authors
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Ho Chi Minh City/Saigon

Vietnam has seen many changes over the past few decades. Its changes came from a history of colonialism and warfare. Today, the globalized Vietnam creates a space for international investment.

Throughout the recent years, Ho Chi Minh City (HCMC) has really grown in the economic and business sector. More and more companies are interested in the city because of the opportunity for markets, the cheaper labor, and for the opportunity that investing abroad means. Transnational corporations have been heavily settling and investing in HCMC because of these opportunities. Mass migrations from the countryside to the city have occurred within Vietnam for the search of jobs in these companies. Something that has grown in support and popularity have been the electronic industry in HCMC. The growth in Human Capital within the city has allowed for this and now more than ever, HCMC has experienced a very rapid and vast industrialization. Corporations are drawn to the city because of the increase of highly skilled workers like engineers and businessmen. With so many TNCs (Transnational Corporations) now settling in the city urbanization in HCMC has also increased along with economic, and population growth. The city is now regarded as a Global City because of these factors along with the rapid industrialization that still continues and has made the city so competitive in the eyes of the rest of the world.

Currently, it is listed as an emerging global city. While it has been in the lower ranks, it has surely risen as international investment continues to grow in HCMC. It is currently ranked at 61 with a score of .72 out of 10 in the 2012 Global Cities Index. The Global Cities Index is measured by five variables: Business activity (weighting: 30 percent), Human capital (weighting: 30 percent), Information exchange (weighting: 15 percent), Cultural experience (weighting: 15 percent), and Political engagement (weighting: 10 percent).

Although its sister cities are ranked higher, it is an ever emerging and evolving global city. "The Emerging Cities Outlook gauges each city's rate of change by measuring factors that will affect the future of two dimensions in our rankings: business activity and human capital. We focus on these two dimensions because we believe they will drive a city's capacity to attract, retain, and generate the global flow of ideas, capital, and people." Based on these multiple factors, A.T. Kearney has determined Vietnam as a a city that has high potential for global influence.
Source: A.T. Kearney "2012 Global Cities Index"

A.T.Kearney, "2012 Global Cities Index"

Written and Edited by: Randy Mai
Written by: Katherine Herrera
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