Today, we learned about the history of Vietnam – including the origins of Ho Chi Minh City. In this lecture, we also learned about present-day Vietnam and its current strive for development. We visited Phu My Hung as a prime example of development in Vietnam. This corporation has taken a literal swamp and turned it into a luxurious resort town with schools and businesses alike. This corporation is inspiring for its impressive designs and execution, but the development shown in this particular area is not representative of all of Vietnam, or even all of Ho Chi Minh City. This development is only relevant to those who can afford luxury apartments and amenities- typically upper class Vienamese or Korean citizens. This company attracts a significant amount of foreigners to live in their apartment complexes – around 38% of their residents are out of country. Instead of focusing on improving other aspects of Vietnam that need help, this corporation makes its living off of increasing the rate of urbanization in Vietnam and creating new urban areas that draw in a greater population. In general, Phu My Hung has to follow their master plan exactly when constructing any buildings. This master plan includes relatively loose environmental regulations, such as construction and population density restrictions and required greenery ratios.
Overall, Phu My Hung is beneficial to the development of Ho Chi Minh City, but it is almost entirely separate from development of the rest of Ho Chi Minh City which affects all people, not just those rich enough to live in Phu My Hung apartments.