The growth of cities is a protean multifaceted process and never more so than now. Below are the top 10 booming cities of Southeast Asia.
1. Kuala Lumpur, Malaysia: Kuala Lumpur has developed its spectrum of spiritual, social, entertainment and recreational facilities as well as improved buildings and infrastructure, monuments and parks and functioning of governmental and non-governmental institutions.
2. Bangkok, Thailand: Bangkok is the country’s regional and financial centre with chief manufacturing of textiles, food processing and the production of building materials. Other industries include cement, electronics, petroleum refining, and tourism.
3. Singapore city, Singapore: By embracing globalization, free market capitalism, education, and strict pragmatic policies, the city has been able to overcome their
geographic disadvantages and become a leader in global commerce. Singapore is an ultra industrialized society with entrepot trade.
4. Bandar Seri Begawan, Brunei: Though a very tiny country, Brunei Darussalam is a small country with great potential. Its innovative and ever-growing industry
development has led it to grow and progress significantly.
5. Hanoi, Vietnam: Ha Noi with a new makeover is embarking on a new development period. Industry plays a more and more vital role of the capital economic structure.
Service activities in Hanoi have been expanded and its quality has been scaled up. Active market in Hanoi is rich in products, satisfying demands on consumption of
6. Jakarta, Indonesia: It is one of the most populous urban city and home to maximum people in Southeast Asia. Capacity utilization rises and new technologies such as cloud computing, solar energy and 3D printing have been gaining a significant importance in the city leading to foster economic development.
7. Ho Chi Minh, Vietnam: Ho Chi Minh has grown by an average of 7.4% a year over the past decade. At first, agricultural reform, which redistributed land from the state to poor farmers, propelled the boom. More recently, export growth, fuelled by cheap, efficient labor and burgeoning foreign investment, has driven the economy.
8. Phnom Penh, Cambodia: Phnom Penh’s economy has expanded at a fast pace, with growth averaging about 8 percent. One of the key drivers of the economy is textiles and
footwear, whose exports amount to a third of nominal GDP. While the residential and hospitality spaces dominate construction, infrastructure is fast gaining ground as the government focuses on power generation, oil and gas, and diversification in manufacturing.
9. Manila, Philippines: The city itself is a tight squeeze: it is one of the most densely populated urban areas in the world, with 43,079 inhabitants per km2. Manila is a key economic centre in the Philippines, with bustling activities in commerce, finance and outsourced services. Also contributing to strengthening the growth rates has been the strong domestic demand for products, the costs in public works and infrastructure desired by the central government and the increase in foreign investment in the country.
10. Myanmar, Thailand: Myanmar’s emergence from economic isolation provides a rare opening for companies to reach a small but rapidly growing and fertile consumer
market. Its wealth of natural resources, youthful and inexpensive workforce and strategic location has led many foreigners to invest and establish a strong economy.