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The old and the new: the Vietnamese government is attempting a delicate balancing act as new money pours into the former Communist country |
ON NGUYEN SIEU Street in District 1 of Ho Chi Minh City the foundations of an ambitious 12-storey apartment block are being laid. The Saigon Residences is a joint venture between Tran Phu Printing Co of Vietnam and Frasers Centrepoint of Singapore. The new building is a good illustration of modern Vietnam: ambitious, confident and brimming with cash from overseas investors keen to get a slice of the action in one of Asia’s biggest growth stories.
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