Vietnam: The New Frontier
Thirty years ago, political and economic reforms began opening Vietnam’s economy up to the rest of the world, a process that accelerated when it joined the World Trade Organisation in 2007.
During that time, Vietnam’s economy began shifting its focus from agriculture to industry and services, and its international exports have continued to grow.
This gained traction amongst foreign investors – including Gamuda Land.
Venturing into the unknown can pose many risks, especially when it is a nation with a different language, culture and laws.
Despite the many challenges, we set foot on Vietnam shores in 2007 and were brave enough to be the first foreign company to develop a township – Gamuda City – in the least developed suburb of south Hanoi.
More than that, our rehabilitation of Yen So Park in the township involved wastewater management for the treatment plant and its surrounding lakes.
It is hard to believe that just a decade ago, the park was a deserted wasteland of untreated sewage and abandoned rubbish.
But with a devil-may-care attitude and a forward-looking team, we built a living, breathing lung in the city.
Fast forward to 2019 and our integrated developments continue to prosper; the south Hanoi we see today is thriving with development and investment opportunities, in addition to being a housing and commercial hotspot.
It’s a testament that with perseverance and patience come rewards.
Vietnam’s confident and vibrant economy, people and culture serve as a backdrop to its high level of innovation in the property sector.
We are well-positioned to invest further as there is a lot more we can gain from being a responsible town maker.
I’m really excited about what the future holds for us in Vietnam.