General Information Ho Chi Minh City is located in an ideal geographical location, with many favorable conditions for economic development. For centuries, the City has been the most strategic area in the South, a dense and prosperous trade center, a major port, and a nexus for foreign relations. Ho Chi Minh City (formerly known as Saigon) is vibrant and charming, filled with friendly people, an alluring culture, and all the conveniences of a modern city. Dynamic and ambitious, it is the safest, fastest-growing city in Southeast Asia. With a rising economy, a well-educated populace, and modern facilities, Ho Chi Minh City is considered the economic, cultural, scientific, and technological hub of the country. The total area of Ho Chi Minh City is 2,056 square kilometers. The urban area is 140 square kilometers and includes 19 districts and counties. The rural area is large, 1,916 square kilometers, comprising 5 sub-districts with 98 communes. The distance between the City center and the sea-shore is 50 km and the distance from the City center to the capital of Hanoi is 1,730 km in the Southeast. The East Sea borders the South. Tay Ninh province borders the North. Long An province borders The West. Song Be and Dong Nai provinces border the East. The Ho Chi Minh City is 6 m above the sea water level. The topography is high in the North - Northeast and becomes gradually low in the South-Southwest. The City has a network of rivers and canals intermingling the surface of over 2,900 ha; this is very convenient for navigation and irrigation. The temperature is mild, an average of 27¡Æ C - 29¡Æ C. The difference in temperature between the hottest month and the coldest month does not surpass 5¡Æ C. The annual rainfall is about 2,000 mm. The average humidity is 75-80%. There are two seasons in a year. The rainy season lasts from May to November. The sunny season lasts from December to April of the next year. Two main wind directions are West - Southwest and North - Northeast. There have been virtually no storms or floods in many years. With respect to tertiary education, there are about 262,000 university students and 41,600 college and vocational school students in a given year. A Favorable Investment Climate in Ho Chi Minh City Booming Economy -  HCMC¡¯s increasing prosperity can be attributed to its exceptional economic growth and development. -  It has an average growth rate of 10.2% per year. -  It is experiencing an industrial growth rate of 13.2%. -  CPI was up 1.54% in 2003 compared with 2000. -  Achieved the highest GDP per capita: $1,682 USD within Vietnam. Booming Private sector -  An entrepreneurial and industrious spirit pervades the Vietnamese business world. In recent years, HCMC has seen the emergence of a new class of successful entrepreneurs. -  HCMC witnessed the emergence of 8,648 newly established enterprises in 2002, a 111% increase from the year before. -  New local brands have successfully emerged and been established such as Dong Tam, Thien Long, Trung Nguyen, Thai Tuan, Kinh Do, etc. -  Well-educated business people with modern concepts make good potential partners . -  The emerging stock market creates opportunity for alternative financing and indirect investment . People are thriving as opportunities abound -  Education is highly valued in Vietnamese society, which benefits from a 94% literacy rate. Furthermore, 30% of the public has proficient communication skills in English. Education continues to increase in quality and quantity. -  HCMC boasts 30 universities and 27 vocational schools, including numerous business schools and programs. Courses in business management and marketing are also very prevalent. -  English language schools can be found throughout the city, with popular schools such as Apollo and AV Hoi Viet My. It is not uncommon to see business employees enrolled in night classes. -  Education abroad is also popular, with an increasing amount of students studying in Australia , the US, England, Canada, and Singapore every year. Rapidly developing infrastructure -  Ho Chi Minh City boasts the best infrastructure in the nation, including modern transportation and telecommunication systems. -  HCMC's Tan Son Nhat Internatioanl Airport is the largest and busiest airport in the country, connecting to 20 countries and territories and transporting over 5.5 million passengers in 2002. -  The Saigon River port is the largest in the country, able to berth vessels with a loading capacity of over 30,000 tons. -  HCMC possesses a well-developed telecom industry that displays annual growth of 20 percent. Booming local market -  Vietnam, especially HCMC, has enormous market potential for lucrative investment. -  The population is young and growing, with over 50% under the age of 35. They are increasingly perceptive and trendy due to 21st century communication and susceptibility to foreign influence. -  Income is growing, as is disposable income and spending. -  The mall culture is now prevalent. Shopping is now about pleasure and no longer just to satisfy basic needs. -  Vietnamese spending patterns are ripe for foreign prospects. -  Consumers are quality conscious. They want the newest and the latest products, but they do not yet exhibit brand loyalty so there is a lot of opportunity to build brands and businesses. Booming international trade -  HCMC also serves as a valuable base for international trade. -  In December 2001, the US and Vietnam strengthened economic and commercial ties through the Bilateral Trade agreement (BTA), which stimulates trade and investment between the two nations. While both countries reduced export tariffs considerably, Vietnam also undertook various market liberalization measures. As a result, bilateral trade in goods more than doubled in 2002 from the year before. -  In HCMC, you¡¯ll find the opportunity to export or to use the city as a hub to expand your business throughout Southeast Asia. -  Vietnam is aggressively negotiating to become a WTO member in 2005. -  No barriers here, only level playing fields. Life is booming in Ho Chi Minh City -  No one could visit Ho Chi Minh City without being intoxicated by its unique blend of Eastern charm and Western comfort. -  The foreigners that live here get to enjoy an enviable and somewhat addictive lifestyle. There are international standard hotels, nightclubs, golf courses, hospitals, restaurants and much more. -  Not only will you get to sample the finest Vietnamese cuisine, the city also caters for every other kind of food you can think of, from burgers to bouillabaisse. -  Much of the French architecture that gives the city its old-world charm and character still exists: at the same time, there are many modern buildings to cater to the tastes of a burgeoning middle class. -  Best of all, the local people in Ho Chi Minh City have a surprisingly good command of English, and they often employ it to make foreigners feel very welcome.