Current practical challenges of businesses in Saigon

Updated: Nov 25, 2021

Ho Chi Minh City (HCMC or Saigon) partly opened from Oct.1st, 2021. However, it may take a long way for its businesses to fully get back to normal.

Thousands of workers and employees were fleeing out of HCMC on mid-night of Sep.30th. (photo from social networks)

Contrary to most experts' & authorities' analysis that people will be happy for new normal life since Oct.1st, from the mid-night of Sep.30th until now, social media was fully occupied by pictures and live-stream videos of thousands of workers, employees together with their families fleeing out of HCMC., Binh Duong, Dong Nai. This is the 3rd wave of leaving.

Shops, restaurants, factories, trading / service / food / logistic / banking / distribution / real estate / health-care businesses / etc... or even barber shops may find it a long way to get back to normal because of the current following challenges:

  1. People still can not travel from other provinces / cities to HCMC and vice versa.

  2. Employees can not come back HCMC for works.

  3. Parents and employees are too afraid and too scared of strict lockdowns with hard barriers in HCMC so it may take some time for them to be ready to come back town. They have mental fatalities.

  4. Foods & most other necessary commodities prices are now almost doubled, compared to end of 2020 due to increased logistic, transporation, overheads costs by lockdown & social distancing regulations, while incomes are reduced.

  5. Many businesses, especially real estate businesses have been rated with bad credit status on the national banking & financing system as they haven't got enough cash-flows for many months to pay their debts and interests. Those businesses may find it very hard to get back to normal as their access to extra loans is very much limited.

  6. Demands are much lower than end of 2019 because of heavily personal incomes reduced.

  7. Government officials still have the mindsets of covid control over business development.

Photos of fleeing people on local news:

Thanh Bon


--------------------- - The Exclusive & Largest Patform to Connect Investments!