👉 Discover Hai Phong Iron Market (Cho Sat) and the bewilderment of small business people before the news CLOSED
According to Wikipedia, the open encyclopedia, Cho Sat is ranked as a first-class market in Vietnam and one of the largest markets in Hai Phong. Iron Market is located in Hong Bang district, Hai Phong city. The market is located along the Tam Bac River, which is a trade route from Hai Phong to the provinces. The market was built in the concession area at the end of the 19th century under the French colonial period, then called Cho Lon (Grande Marché). The market was built with mainly iron and steel materials, so it was called Iron Market.
Thanks to the favorable location on the waterway from Hai Phong to the provinces, under the French rule, Iron Market used to be a very busy market, the main trading hub from Nam Dinh up or Quang Yen down, its reputation is comparable to that of other provinces. with Dong Xuan market (Hanoi), Dragon market (Nam Dinh), Dong Ba market (Hue), Ben Thanh market (Saigon).
Until the subsidy period, this was still one of the largest trading centers in the North. At that time, the traders in Iron Market were considered the wealthy and economically successful class of Hai Phong. Hai Phong Iron Market is a prosperous trading place, a wholesale hub so that from here, many items are distributed throughout the country. Anyone who sets foot in Hai Phong also takes advantage of a stroll through the Iron market, without buying anything, they also go to see it. Iron Market has become the pride and pride of the port land.
After the fire incident in 1985 and the impact of the new opening mechanism, the idea of ​​investing in building a new Iron Market quickly attracted investors from China. In 1992, a $15 million project from China was approved. The old market was demolished and rebuilt by a joint venture with 2,000 stalls with a total usable area of ​​nearly 40,000 m² on a campus of 13,000 m².
After 2 years of construction, phase one with the first plaintiff including half of a 6-storey building on an area of ​​5,000m² was put into use. This is an event that used to be the top concern of financially powerful small businesses in Hai Phong. At that time, in order to have a stall in the new Iron market, business households had to spend at least VND 50-60 million to rent a stall. Many people have had to work hard to go up and down, pledge property. But since it was newly built, the market has become less and less crowded, causing the stalls to close due to loss of business, the total number of stalls still operating here is only about 100 households. Many business households in the Iron market before now move to do business in the neighboring streets or through Do market (Tam Bac market). Hai Phong people as well as tourists from all over the world also gradually lost their shopping habits at Iron market....
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