Ho chi minh city cu chi tunnels

In the last days of April 1975, the morale of the Saigon military in particular and Saigon Government in general was sinking. On April 25, President Nguyen Van Thieu fled Saigon and was soon followed by numerous senior civilian officials, and high-rankingmilitary officers afterward.

Meanwhile, from five directions, the Liberation Army laid a siege around Saigon, with Army Corps 3 from the Northwest, Army Corps 1 from the North, Army Corps 2 from the Southeast, Army Corps 4 from the East, Corps 232 and Division 8 of Military Region 8 from the West and the Southwest.

At 5p.m. on April 26, 1975, the operation started. Troops of the Liberation Army breached the outer defensive line of the enemy and blocked road and waterway transportation routes to the Southwestern region and to the sea.

From the East and Southeast, artillery batteries opened fire on targets in Trang Bom, Ho Nai, Bien Hoa, Nuoc Trong, Long Thanh, Duc Thanh, and Ba Ria. After the calculated barrage, infantry troops of Army Corps 2 and Army Corps 4 charged forward, beginning the offensive.

From the Eastern flank, Division 341 of Army Corps 4, supported by a tank battalion and an anti-aircraft artillery battalion, captured Trang Bom, one of the most important strongholds on the outer defensive line of the enemy. The battles lasted for hours with the engagement of tanks and armored vehicles of the two sides.

From the Southeast, on April 26, Army Corps 2 attacked and took hold of Duc Thanh military sub-district. After two hours of intense fighting, the Liberation Army captured Binh Gia, Ngai Giao, Nui Dat and then liberated Xuyen Moc and Long Le with the support of local forces. At 9 p.m. the same day, Infantry Regiment 141 and a tank company, with artillery fire support from the Army Corps, attacked Vung Tau town. The enemy troops launched a weak counter-attack and then fled the town.

Coming from the Northwest, the main attack direction, Army Corp 3 aimed to seize Tan Son Nhat Airport and the Saigon Joint General Staff. Accordingly, Division 10 was responsible for attacking and taking control of the two targets. Other units, including Infantry Division 316, Infantry Division 320A and Commando Regiment 198, supported the division by suppressing enemy troops in Trang Bang, Dong Du, Bong Bridge, and Sang Bridge on Road 1 and Road 15.

Army Corps 1 was responsible for opening the offensive from the Northern direction. Crossing a distance of 1,700km from the North, on April 14, 1975, Army Corps 1 reached the rendezvous point in Dong Xoai. On April 26, Army Corps 1 captured positions in northern Saigon and were ready to open fire. The Army Corps then exercised diversion tactics, forcing the enemy to order the 8th Regiment of its 5th Division to block Road 14.

From the West and Southwest, Infantry Division 5 of Corps 232 and Infantry Division 8 of Military Region 8 supported by Engineer Brigade 341 and local troops, attacked checkpoints along the two rivers of Vam Co Dong and Vam Co Tay in Long An province.

As a result, Road 4 was blocked and Saigon was completely besieged!

Translated by Huu Duong

The delegation paid tribute to heroic martyrs who have sacrificed their lives for national independence, unification.

They then paid respect to fallen soldiers, veteran revolutionaries and senior Party and State leaders, who are resting in peace at Lac Canh Cemetery in Thu Duc City.

Delegates also offered incense in commemoration of late President Ho Chi Minh at the Ho Chi Minh Museum-HCMC branch, laid wreaths and offered incense to pay respect to late Presidents Ho Chi Minh and Ton Duc Thang at the President Ho Chi Minh Statue Park and Ton Duc Thang Museum.

HCMC’s leaders remembered the revolutionary life and the great contributions made by late Presidents Ho Chi Minh and Ton Duc Thang to the struggle for national liberation and independence.

On the same day, another delegation of representatives from the HCMC Party Committee, People’s Council, People’s Committee and Vietnam Fatherland Front Committee led by Standing Deputy Secretary of the city Party Committee Tran Luu Quang paid tribute to war heroes at Ben Duoc Monument Temple for Martyrs, Martyr Cemetery of Cu Chi and HCMC Policy Cemetery. The delegation then visited the Memorial House of Vietnamese Heroic Mother, Hero of People’s Armed Forces Nguyen Thi Ranh in Hiep Phuoc Commune’s Trai Den Hamlet in the district.

Ben Duoc Monument Temple for Martyrs is built to commemorate martyrs and people who laid down their lives on the battle fields in Saigon – Cho Lon – Gia Dinh and made outstanding contribution to this land during the anti-French and US resistance wars for national independence and freedom. The names of 45,639 fallen soldiers are carved into a granite stone tablet and gilded with gold, including more than 9,300 martyrs from 40 other cities and provinces across the country.

Accordingly, new 171 streets across 17 communes were named after Vietnamese heroic mothers, expressing deep gratitude as well as a commemoration for their great contributions to the revolutionary cause of the Party and the country.

Currently, there are 452 streets, including 370 ones in Cu Chi District named after Vietnamese heroic mothers.

On the occasion, the yearbooks were handed over to Vietnamese heroic mothers and relatives of heroic mothers.

Speaking at the ceremony, Chairwoman Nguyen Thi Le informed that over the past years, Cu Chi District has well performed preferential policies for people with meritorious services to the revolution through practical movements like presenting houses of gratitude to Vietnamese heroic mothers, taking care of the heroic mother, etc.

Some photos at the meeting to mark he 46th Southern Liberation and National Reunification Day (April 30, 1975-2021) and 135 years of the International Labor Day (May 1, 1886- 2021):

The scientific conference to pinpoint development directions for HCMC from 2021-2030, with a vision to 2045. (Photo: SGGP)

Ho Chi Minh City ideal location

Many international financial centers are emerging across economies today, and have become an integral part of special economic zones (SEZs). For instance, the international financial services center (IFSC) is located in a multi-purpose special zone in the Gujarat International Financial Technology City (GIFT City) in India, and based on Articles 18 and 55 of the 2005 SEZ Act of India, similar to other models in China and the United Arab Emirates.

In the 4.0 revolution era, developing countries have to turn more and more towards new generation SEZs providing better high technology, finance, tourism, environment, urban regeneration, and move far beyond just manufacturing activities. The earlier land-rich, labor intensive industries of traditional SEZs were commercial and productive. Based on a new approach, Vietnam needs to focus on developing new generation SEZs following the model of digital free economic zones (DFTZ).

With a population of nearly 100 million people, Vietnam has the potential to become a technology pillar of the region, with an estimated market value of US$ 2.2 bn, along with many other formidable tech startups such as FastGo, Abivin, Logivan, and VNPay. This possible potential market is witnessing a wave of venture capital funds flooding Vietnam. However, shortcomings in tight financial and securities regulations have caused setbacks in technological innovation and venture capital sources.

It is now time that Vietnam finds a breakthrough mechanism to create DFTZs. With favorable conditions, and right human resources, Ho Chi Minh City is well conditioned to meet the many requirements to establish an exclusive Financial District within its territory that will provide full support and adequate facilities for finance, technology, world class innovation, and creativity.

Digital economic sovereignty

Mr. Ruchir Sharma, the chief global strategist at Morgan Stanley Investment Management, and also author of the famous book “The Rise and Fall of Nations”, thinks that only technology can save emerging economies from stagnating in their growth rate. Dubai is a leading international financial center with a 110 hectare of Free Zone, an advanced retail network, infinity pools, and many other modern facilities. However, it is currently reeling under the strong negative impact of the Covid-19 pandemic, and changing patterns of behavior of lucrative investors who are reconsidering the present post-pandemic situations. On the other hand, a country such as Romania, a country once under notice because of frequent electricity outages and near empty retail shops, has now sprung into prominence. In February 2021, UiPath, a technology company based in Bucharest, was shocked when it was able to raise unexpectedly huge capital in New York to the tune of around US$ 35 bn.

With steadfastness, steely determination and strength, Vietnam can certainly create another technology unicorn like UiPath. However, in the current digital age, countries must remain interdependent too, while simultaneous attention must be paid towards national security as well. Malaysia’s DFTZ model with Chinese partners was formed in March 2017, and it has since brought in impressive results, now even contributing to higher economic growth and more jobs. SMEs are now attracting more foreign investors into Malaysia, mainly from China. However, from a defence standpoint, the country is facing many uncertain vulnerabilities. According to South Korean security agencies, about 70% of their technology leaks that took place between 2014 and 2019 came from China.

To counter China, the Council on Foreign Relations of America (CFR) suggested that the government should create a similar DFTZ with many Asian partners. However, ASEAN countries should welcome both Chinese and American technology companies. In late 2020, China announced the establishment of Beijing’s Free Trade Zone (FTZ) as the ideal place for a global startup innovation hub, focusing on digital payment methods. The Central Bank of China has even established a legal digital currency zone and a Digital Financial System at FTZ Beijing.

However, in terms of approach, Cambodia has decided to choose a Japanese fintech company to develop digital Bakong for its Central Bank. National security and digital economic sovereignty are always considered vital factors for the future of DFTZs and international financial centers, a fact that Cambodia is concerned about.

Optimizing talent

It is not enough to just mention the technical aspects when talking about DFTZ. Special attention should be paid to the process of optimizing talent selection, and attracting and retaining outstanding global talent. The UK, while imposing tax exemptions and reductions in the R&D sector, radically changed the rules of stock market listing, creating a technology and innovation finance center, and a privately funded growth fund, sponsored and coordinated by the government. However, the UK planners never forgot to put the primary focus on talent selection to create a big fintech explosion, so as to ensure that UK remains a leading Financial Center.

Japan has already taken first steps in hiring 500 world renowned technology experts to work in the public sector to prepare for the government digital transformation plan. Japan believes that slow digitization is the key in low growth potential for so long, hence the time is right to digitize the economy.

Vietnam too needs to rethink about selecting talent that are computer savvy and fluent in finance and banking. In neighbouring countries, ambitious plans are being drawn to attract talent and ambitious national strategies are being set to move towards digital economy, particularly with all the economies reeling under the ongoing and relentless Covid-19 pandemic. Many startups have already raised unprecedented volumes of capital to around US$ 47 bn in the first quarter of 2021, in the international markets.

Meanwhile, policymakers in Vietnam remain ambitious about making the country a leading technology powerhouse, although there is absolutely no plan to attract world class talent. Therefore, it is imperative for our country’s policymakers to quickly set a process to optimize the selection of international talent from other countries before the development of any future strategies.

Setting up DFTZ

The great division between US-China policies is an opportunity for countries to take advantage of in the current context. In addition to issues related to technology and supply chain, there are gaps in the setting up of DFTZs that Vietnam can make good use of.

The first is to capitalize on financial innovations that are becoming a global craze, as a result of low interest rates, and stock markets consistently at all-time record peaks. Economic optimism and digital transformation happens rapidly in many fields where huge cash flows freely.

All of this has led to an explosion of the Special Purpose Acquisition Company (SPAC), to make it faster and more convenient for private companies to be publicly listed. In Southeast Asia, Grap is preparing a US$ 40 bn listing in the US through SPAC. In March 2021 alone, global capital transactions reached US$ 1,400 bn, the highest increase in two decades due to enthusiasm in SPAC deals. Southeast Asia, with its startup boom, is seen as the ideal destination for SPAC, and South Korea and Malaysia officially allowed SPAC to list on the stock exchange. Hong Kong and Singapore are considering different approaches to making SPAC the engine of economic growth, or loosening of listing rules that facilitate the creation of technology companies.

Taking advantage of the opportunity, GIFT City in India has just added new rules allowing SPAC transactions. The UK is also considering changing the stock listing rules to become the global base of SPAC in order to maintain a lead position as an international financial center.

With special economic financial sectors, DFTZ is now not simply piloting institutional reform as was previously understood, but is rather a flexible tool to make effective use of immediately. The boom has been created from global uncertainties to attract huge circulating capital. In addition, DFTZ is also a global talent gathering institution. The volatility of Hong Kong’s international financial center was the driving force behind the British proposing new rules to attract talent.

Taiwan has many young technological talents but lack the spirit of entrepreneurship. The Covid-19 pandemic suddenly turned it into a place for receiving American technology experts to start businesses. Suddenly they have outstanding international talent coming to support young local startup talents to access and turn the place into an Asian Silicon Valley. Taiwan is loosening immigration regulations to attract more international talent, and supporting young talented people who have dared to drop out of school for two years to pursue startup dreams. By the end of 2020, China established FTZs in Beijing, Hunan, and Anhui, in which priority is on responsibilities in all levels of selection of international talent.

Vietnam has many advantages with which to attract outstanding talent, being among the very few countries in the world that are still well protected from the pandemic. Even though it is uncertain when the pandemic will finally end, Vietnam’s economy is holding steadfast. Now is the time to vigorously establish a long term vision in a short term scenario, by taking advantage of a golden opportunity of establishing superior institutions in the DFTZs. It is vital to move quickly and decisively in attracting global capital and global talent in the current pandemic scenario, when availability is rather high.

Integrate advantages

In wake of the current pandemic, if Van Don also has ambitions to become an international financial center, then there can be three cities in Vietnam willing to establish such plans for the future.

Financial experts and investors liken the European Union (EU) with 27 countries competing and overlapping interests in financial services with 27 lines on a single sheet of paper. This makes it difficult for Paris, Frankfurt, or Brussels to replace London as the leading international financial center. Vietnam, with three international financial centers, will also look cramped, in proportion to the size of a narrow S-shaped strip of land. The departure of the Shenzhen SEZ from other Chinese SEZs is a valuable lesson in the massive development of international financial centers and SEZs.

To avoid hitting bottom, a worthwhile suggestion is for us to study the three FTZs of Beijing, Hunan, and Anhui. There highly internationalized technology and business environment attracts many international and domestic investors. If we follow their model, Vietnam’s future finance, technology, and innovation cities such as Ho Chi Minh City, Da Nang, and Van Don will work well together to avoid risks and instead flourish together to stay on top.

There is no second planet for humans to inhabit, and there is also not much land or sea left for future DFTZs in beautiful locations on our S-shaped strip of land. Ho Chi Minh City ignored the opportunity to turn the special Ba Son Port into a creative urban area, as proposed by the United Nations Industrial Development Organization (UNIDO), which is a mistake that must not be repeated.

Developing technology oriented regions and creating international financial centers is worth pursuing, and is certainly the right direction in moving towards a fast changing digital world that is set to bring about changes across the globe which all developing nations will need to adapt to quickly and surely.

The average monthly cost of living, including rent, food, transportation and other utilities, for a single person in Ho Chi Minh City was US$819.

The cost of living in Ho Chi Minh City, Vietnam’s commercial hub, is the second cheapest among six Southeast Asian cities, according to a research report by iPrice Group.

iPrice has conducted a comparison research on the average monthly cost of living for six famous cities in Southeast Asia using data from Numbeo, one of the world’s largest user-contributed databases.

HCMC is one of the cheapest cities to live in Southeast Asia. Photo: Xuan Trang

Numbeo measures the cost of restaurants, house renting, groceries and the purchasing power to come up with the average index for the cost of living in each country.

The average monthly cost of living, including rent, food, transportation and other utilities, for a single person in Ho Chi Minh City was US$819.

This number is lower than Singapore, Bangkok, Manila, Jakarta by 202%, 30%, 28% and 4% respectively.

Numbeo records Singapore as the city with the highest cost of living in the region, at around US$2,467, followed by Bangkok (Thailand), Manila (the Philippines), Jakarta (Indonesia).

Kuala Lumpur is the cheapest destination with an average monthly cost of US$789, a negligible difference compared to Ho Chi Minh City.

Accordingly, cost of renting a house in Singapore is four times higher than Ho Chi Minh City while home rental in the Vietnamese city is higher than Jakarta and Kuala Lumpur, the two cities in the bottomof the list.

Ho Chi Minh City, home to 13 million people including migrants, has consistently been the most popular tourist destination in Vietnam, with its modern skyscrapers, French colonial buildings and war relics.

Balancing living needs and income will help workers in Ho Chi Minh City enjoy a comfortable life, especially in the period when people have to “tighten their belts” because of the global epidemic.