Vietnam: The Epicenter of Development

We started our busy day at the University of Economics and Finance where we attended a lecture focused on the development in Ho Chi Minh City. The lecturer started with the history of Vietnam from the 1900s to present day. He then talked about the restructuring and rebuilding of the country that occurred after the Vietnam war. The economy grew steadily and eventually involved big players on the world stage such as the United States and China. This gave Vietnam the ability to become one of the epicenters of development.

After class, we headed to Tokyo Deli where we were served a delicious meal of various sushi and other traditional Japanese foods. Making the meal even more memorable, we ate with no shoes and sat at a horigotatsu which is a traditional Japanese style table that is low to the ground and has a recessed floor beneath it.

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After lunch we headed to tour the large infrastructure developer Phu My Hung. This corporation is responsible for the development of the planned city also named Phu My Hung. They pride themselves on changing land of low value into land of high value. Additionally, Phu My Hung takes part in all parts of the process of changing the land. The presenter emphasized that the corporation plans, builds, and manages the infrastructure. He also mentioned the key to their success was organization. This organization began nearly 25 years ago when Phu My Hung worked with the most experienced companies around the world to development what they call master plans. In simple words, the master plans are guidelines and restrictions for how the city will be built. This includes environmental regulations such as population density and greenery ratios. Along with those guidelines, Phu My Hung must also follow the laws and guidelines set by the Vietnamese government.

Phu My Hung the city contains nearly all the amenities one would need. It contains housing, food, recreation centers, nature spaces and parks, schools, and shopping centers. Currently, the majority of the people in this all included city are Vietnamese. Specifically, they make up about 62% of the population. However, Phu My Hung also attracts many foreigners. In fact, attracting foreign business and investment to grow the economy was one of the reasons that Phu My Hung was built.

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Today really came full circle because we were able to see the development we had talked about in our morning lecture in real life at Phu My Hung. I can’t wait to learn more and see it in action in the days to come.

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