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Scroll down this page and read why we say: "It's only Monday Morning In Saigon."

Or, skip ahead to see over 150 photos of development in Saigon today.  However...

The photographs will take approximately two minutes to download at 28.8kbs.

Many people interested in Vietnam, both those living here and abroad, enjoy photos of boys on water buffalo, women in conical hats of straw, street vendors hawking almost everything, the polychrome vistas at outdoor markets, and the fast-moving motorized traffic, peppered with ox-drawn carts.

Foreign and Domestic visitors to HCMC rarely lift their heads up to see all the new signs of economic growth. Most are too busy running and dashing about, looking forward. Particularly when driving or crossing the streets of this bustling metropolis, rarely do we lift our eyes to see what has grown around us.

The V V G Staff began taking photos for these pages in December 1997. We are constantly updating them to keep up with developments. The most recent photos were taken only days before this page was last updated. 

Here are photos of vertical construction. We want potential investors to see the City of today and tomorrow, not just yesterday. Every new building pictured has been completed in the past four years. We also show buildings in which construction waits to recommence, and sites where it has not ever begun.  A few older structures recently renovated are also shown simply to retain the flavor of what is still Saigon.

We are in our tenth year since VVG came to Vietnam.  In that time we have seen growth for the betterment of both the people of Vietnam and foreigners, particularly investors and tourists.

With deliberation, Vietnam is moving forward. Others tried to leap, seemed to jump and several have recently stumbled. This has not been a universal stumble. Predictions vary as to its eventual extent.

The Bilateral Trade Agreement with America is now upon us.  It will help spur the economy more. The Vietnamese currency is not freely traded, but nevertheless has fluctuated. As of early January 2005, the Vietnamese Dong is at about 15,800 in both the legal and black markets. GDP ran at or above 9% for the three years through 1997, then it dropped but was still a remarkable 6% for 1998. The year 2004 closed out at 7.0% with projections for 2005 at 7.0 to 7.5 per cent from the State. 

There is a window of opportunity in Vietnam today. Foreign investments in Vietnam took a down turn but not a nose dive.  However, during that time domestic investment has grown to new heights with the implementation of the Enterprise Law in 2000.  With more than 16,000 new domestic enterprises, the domestic auto industry is having its second recovery year, and foreign investors are now looking more closely once more. 

Business is on the rebound.  Hotel and office building occupancy once down are climbing back, particularly in the high- density areas of Hanoi and Ho Chi Minh City. Tourism that once suffered from lower-cost, higher-valued, neighboring competition in Malaysia and Thailand is now swinging back with over 2.6 million visitors in 2002 and more expected in 2003.

As long ago as January 22, 1998, a front-page article in the International Herald Tribune  described a "Go-South" program:

In a major policy move with long term implications for the region, Taiwan businesses are fanning out through the hardest-hit countries of Asia, hoping to take advantage of the current crisis by buying up assets at fire-sale prices.

That trend continues today. Land and Property Development projects will, similar to the HCMC Water Park, HCMC Super bowl, and the Resort Community planned for the beach one hour from Saigon at Cua Lap, initially draw their financial strength from the local, not the foreign invested community of the region.

These and other projects will grow strong over time from the combined abilities of both domestic and foreign communities. The photos shown here were taken in the early morning or late afternoon. They provide a glimpse into what lies ahead for the New Saigon, and for Vietnam.

Go to the photos now and see why we say: "It's only Monday Morning In Saigon."

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