Paris of the East - Ho Chi Minh City

 Basic Information of Ho Chi Minh City

Once the capital of the Republic of Vietnam, Ho Chi Minh City is the largest city in Vietnam and one of its five centrally administered municipalities.  Ho Chi Minh City's economy, trade and financial center of Vietnam plays an important role in the country's culture and scientific developments.  The city’s current name is to commemorate Ho Chi Minh, the founding leader of the Democratic Republic of Vietnam.

Ho Chi Minh City makes up a quarter of the GDP of Vietnam and contributes the most foreign investment.  According to the JLL City Momentum Index, Ho Chi Minh City ranks third in the most dynamic cities in the world.  In recent years, there have been many infrastructure development projects, including the construction of six MRT lines and the Long Thanh International Airport which expected to be completed in 2025.

Ho Chi Minh City is divided into 19 urban districts, among which districts 1, 2, 4, and 7 are more popular with foreign investors.  District 1 is the heart of the city and the core business district.  Most of the important government agencies and consulates of various countries are located there.  District 2, as a new commercial and financial center, is separated from district 1 by the Saigon River.  With sufficient facilities, international schools, and large shopping malls, residential buildings are popular among foreign countries.  District 7 is a luxury residential and commercial area.  District 4 is a new development area that is close to district 1 but with a relatively low property price.

When the economies of various countries were hit hard by the COVID-19 and recorded negative numbers, Vietnam’s GDP in the first quarter of this year still recorded a 3.8% increase.  The local COVID-19 prevention work in the past few months is outstanding with a far lower number of infections in Southeast Asian countries.  The economy is expected to recover at a faster speed which provides a better investment environment.