HANOI: Vietnam’s capital city, Hanoi, was the most expensive place to reside in the country in 2022, Vietnam News Agency (VNA) reported, citing a Spatial Cost of Living Index (SCOLI) report published by the General Statistics Office.
Quang Ninh ranked second on the list of the top five most expensive cities and provinces, followed by Ho Chi Minh City, Da Nang and Ba Ria-Vung Tau.
Meanwhile, Quang Tri was found to be the locality with the lowest SCOLI in 2022, followed by Tra Vinh, Ben Tre, Soc Trang and Nam Dinh.
The Red River Delta retained its position as the most expensive region in the country, with the Northern Midland and Mountainous region and Southeast region following closely behind, according to the same report.
Explaining the living cost difference between the Southeast region and the Red River Delta region, the report said the abundant supply of goods in the former, which is the country’s leading industrial centre with the largest number of industrial and processing zones, helped to bring down the cost of living here compared to the latter.
The southeast region offers cheaper prices for garments, hats, and shoes; education; household equipment and appliances; medicines and medical services; food and catering services; and transport compared to the Red River Delta region.
However, prices for housing, electricity, water, fuel, and construction materials; culture, entertainment, and tourism are higher in the southeast region.
The Mekong Delta region has the lowest cost of living, thanks to low food and catering prices. These prices are low due to the region’s intensive farming methods and favourable soil and climate conditions for agricultural production.
Source: New Straits Times