Economy of Vietnam
Until the French colonization in the mid-19th century, Vietnam's economy had been mostly agrarian, subsistence-based and village-oriented. French colonizers, however, deliberately developed the regions differently as the French needed raw materials and a market for French manufactured goods, designating the South for agricultural production as it was better suited for agriculture, and the North for manufacturing as it was naturally wealthy in mineral resources. Though the plan exaggerated regional divisions, the development of exports—coal from the North, rice from the South—and the importation of French manufactured goods stimulated domestic commerce.
Ho Chi Minh City
Colonized by France and Spain in 1859, and ceded to France by the 1862 Treaty of Saigon, the city was influenced by the French during their colonisation of Vietnam, and a number of classical Western-style buildings and French villas in the city reflect this. Saigon had, in 1929, a population of 123,890, including 12,100 French.