Early Looks Into Development

Today, May 8th 2018, we went back to the UEF building and listened to a lecture on urban development of Vietnam, specifically Ho Chi Minh City. The discussion contained the history behind Ho Chi Minh City and then transitioned into talking about how Vietnam is currently trying to develop and build better infrastructure in the city. Developing this city has helped Vietnam gain record exports, which has lifted their GDP growth to 6.81%. This knowledge lead us to our first corporation visit to Phu My Hung. This company is a construction corporation that helps to plan and develop buildings, parks, roads, sidewalks, and various greenspaces in Ho Chi Minh City to help improve the quality of life. Although the Vietnamese government owns the land, Phu My Hung got their approval of the master plan, giving them permission to develop certain areas and then leasing them out to people. When they develop their areas, they try to build around the city because they don’t want the construction sites to have a negative impact on the quality of life for the people that live and/or work in Ho Chi Minh City. The community that Phu My Hung builds is open to all demographics, but consists mostly of Vietnamese citizens. About 60% of the people they lease out to are Vietnamese and the other 40% are foreigners. Regarding environmental controls, Phu My Hung has certain regulations from the government that they must follow when they are developing areas of land. For example, they have to manage different environmental aspects such as the rain and runoff. They are able to manage this factor by building man-made lakes, but also have help from the Saigon River. As a developing corporation, Phu My Hung continues to expand and they already have plans to work on a global scale. As the day concluded, I couldn’t help noticing the luxurious apartments and housing they have created around the city.

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