Binh Tay market, also known as Cho Lon Moi (The New Market), has played an essential role in Ho Chi Minh City’s residents’ daily lives. Sitting on Thap Muoi Street, the heart of Chinatown, Binh Tay Market is the central market in District 6 and one of the biggest local markets in Ho Chi Minh City. In the 1920s, a Chinese businessman built Binh Tay Market to replace the Cho Lon Cu (The Old Market).
The History of Binh Tay Market and Binh Tay Market’s Founder
About the Founder – Quach Dam
When asked about the founder of Binh Tay Market, most people in Ho Chi Minh City would tell stories about a man named Quach Dam. He was the founder of the market, who gave significant financial support to construct this old local market.
Born in 1863 in Chaozhou City, Guangdong Province, China, his original name was Quach Diem. He then moved and made his fortune in Saigon (former Ho Chi Minh City) in the mid-1880s. Quach Dam started from nearly nothing and made his living by collecting and recycling garbage or called “ve chai” in Vietnamese.
He then tried buying and selling buffalo hides and fish bladders all around Saigon and even to many countries nearby. After saving up a small amount of capital and experience, he rented a house on Hai Thuong Lan Ong Street called Thong Hiep to start his small business. He later moved to another housing block to extend the business. Quach Dam quickly changed his strategy to invest in the trading of rice.
He became one of the most successful merchants in Saigon by the 1900s. After Quach Dam died in 1927, his sons succeeded in the family business, but the economic crisis happened and caused the Quach business to collapse.
The Establishment
Right after “The Old Cho Lon Market” was out of business, Quach Dam decided to buy a piece of land on modern Thap Muoi Street, District 6 to build “The New Market” – the biggest market in the South of Vietnam.
Binh Tay Market has a typical Eastern design that you can easily recognize on the roof, and modern building techniques were applied to the West at that time. Quach Dam then divided the market into small and equal blocks for merchants in the Cho Lon area to continue their business.
The construction of Binh Tay Market began in February 1926 and finished in 1930. However, Quach Dam never saw his biggest ambition because he died on May 14th, 1927, at 65.
At the center of Binh Tay Market is the statue of Quach Dam, surrounded by 4 bronze statues of lions and 4 bronze statues of dragons. After the statue has been moved to the Fine Arts Museum of Ho Chi Minh City on Pho Duc Chinh Street, District 1 to preserve and renovate the market, and other statues have been replaced, the only thing left at this place is the altar that people still come here to pray for their business.
What to Buy at Binh Tay Market
About 100 years old in establishment and development, Binh Tay Market still plays the leading role as a significant business hub. You can find many things, such as fresh produce and foods, as well as fabrics and cosmetics, offered at wholesale prices—the ground floor and upper floor areas house over a thousand shops.
Binh Tay Market is undergoing a big renovation (from September 2017), so there are many changes for tourists visiting. Many shops, including wholesalers and retailers, have to operate their business in a temporary area covered by aluminum plates outside the construction area. The reconstruction is now completed, and you can freely explore the area.
Binh Tay Temporary Market Map
The middle area of Binh Tay Market was the first part to be repaired. Visitors could still walk around both sides of the market, which sells primarily dried fruit and processed food. The food sector had many traditional foods, but it was usually crowded at lunch.
Check out other local markets in Ho Chi Minh City
Conclusion on Binh Tay Market in Cho Lon (Ho Chi Minh City)
Binh Tay local market is a great place in Ho Chi Minh City where you can find how Chinese people operate their businesses. By observing the design of this market and its location at the heart of Chinatown, you also have a chance to discover the deep-rooted tradition of Chinese people living in Vietnam.