In recent years, as Vietnam has opened up to globalisation, increasing numbers of people from around the world have come to live and work in the country.
Many foreign communities have been created in Ho Chi Minh City, such as “Western Street” (Pham Ngu Lao in District 1), “Korean Street” (Pham Van Hai market in Tan Binh District), “Japanese Street” (Le Thanh Ton in District 1), and, most notably, Phu My Hung Residence, an international-standard urban residence both in terms of residents and business environment.
Many people are surprised the first time they come to Phu My Hung: it looks just like a foreign city! The impression comes not only from the modern, carefully-planned, and well-executed buildings, the large, tree-lined streets and footpaths, or the lively services and activities on offer, but also from the people living there. Many are foreigners, living and working in Phu My Hung as comfortably as they would in their home countries.
It is no exaggeration to describe Phu My Hung as a multi-national place of residence. Nearly 10,000 foreigners live there (or about 40 per cent of all residents), from all around the world: Japan, South Korea, the US, Singapore, India, Australia, the UK, Chile, Canada, and elsewhere. So why do so many people choose to live in Phu My Hung when they come to work in Vietnam? The following are just a few personal stories.
“I was sent to work in Vietnam by my company two years ago,” said Mr Kazuya Nakaoka from Japan. “We have a branch in Phu My Hung, so I chose to live here. I think it is an ideal area for foreigners like me to live in and to work in. Everything I need is here, such as supermarkets, restaurants, hospitals, entertainment centres and amusement parks. The green space is especially suitable for environmentally-conscious people like us Japanese.”
Ms Manpreet Bansal, from India, who has lived in Phu My Hung for nearly nine years, had her own reasons for choosing Phu My Hung. “My family chose Phu My Hung because of its security and international environment. Here my children’s education is ensured thanks to the many international schools and my family’s health is taken care of by international hospitals. These are not found in other urban residences in Vietnam.”
International investment environment
Phu My Hung Residence’s international focus is also clearly expressed in its investment and business environment. This can be seen at the International Commerce and Finance Complex, which is a landmark in Phu My Hung.
As a complex of multi-purpose office buildings, Phu My Hung International Commerce and Finance Complex has attracted the attention of many domestic and foreign investors. A number of multinational corporations and international companies, as well as large domestic companies, have chosen to open an office at the complex, including Unilever, Manulife, Petroland, Vinamilk, Parkson Paragon, Porche, BMW, Mercedes Benz, Vietcombank, and ANZ. Most notably, Nguyen Luong Bang Street, within the complex, is considered the “Wall Street of Vietnam”, with the presence of domestic and international banks.
“During the last five years Phu My Hung has welcomed many successful investors from various sectors, with investments in the hundreds of millions of dollars,” said Ms Ngo Thuy Anh, Head of the International Marketing Department at the Phu My Hung Development Company. “There are currently 16 banks, 48 commercial and service projects, and hundreds of medium-sized enterprises with offices here. We will continue to welcome them and create the best possible conditions for other companies to invest in Phu My Hung.”
What creates Phu My Hung’s international focus? Mr Nguyen Buu Hoi, Deputy General Director of the Phu My Hung Development Company, explains: “After more than 20 years of development, Phu My Hung has been recognised as the top urban residence in Vietnam, with clear, consistent service provision, complete technological and social infrastructure, a clean, secure living environment, and an attractive business outlook. With so many advantages it’s only natural that foreigners and international companies have come here and created the international focus of Phu My Hung.”
To lease land for commercial purposes at Phu My Hung, contact:
Investment Branch - International Marketing Department
- Phu My Hung