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On the Cover: Vietnam on the Verge
International hotel companies are among the business sectors scurrying to join Vietnam’s building boom. But the usual growing pains are exacerbated by the fact that Vietnam is still a communist country whose growth is outpacing its antiquated infrastructure.
By Jeri Clausing

HO CHI MINH CITY - The Caravelle Hotel’s famed Saigon Saigon rooftop bar is a journey back in time. Women in short, tight dresses sing bad covers of old American hits for a clientele that is strictly Western and mostly men.

Across the street is the 100-year-old Saigon Continental Hotel, which, like this bar, was a favorite of war correspondents in the 1960s and ’70s.

The streets below are clogged with cyclists, though in the last few years, many of the bicycles have been replaced by hordes of motor scooters.

And while the overall feel in this city — and throughout the country — remains decidedly 20th century, all of Vietnam is changing, and changing fast, fueled by a nominally communist government that in the last few years has opened its doors to more foreign investment as it gravitates toward a market economy.

“You can do anything you want here if you have money,” one local businesswoman remarked.

International hotel companies are among the business sectors scurrying to join the building boom that is both feeding and tapping into this country’s economic transformation. ...

View Travel Weekly, August 18, 2008

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