Why Vietnam Business Support
Do you want to expand your business in Vietnam with the minimum cost? Do you want to reach buyers or potential suppliers in Vietnamese market? Don’t have anyone to follow-up your work or help you maintain your business connection when return to your homeland?
Special Business
Complimentary
Received Business News - a bi-weekly e-newsletter with the business opportunities, investment opportunities or the market information targeted to your need.
Expand Your Business
Tip for succeeding on your Vietnam Business
Vietnam was ruled for 1,128 years by China and occupied for another 85 years by France. Then, it engaged in a war with the United States for 18 years. The country managed to be reunited on April 30, 1975 and began opening itself to investment again in 1986 through the Doi Moi ("renovation") policy. Besides that, Vietnam business environment is very different and uncommon with foreign investors. Doing business in Vietnam can be easy or difficult, depending on the nature of your product, your business skills, and your awareness of its culture, working and consumption habits and laws. Without this knowledge, starting your business in Vietnam can prove to be an uphill task.
Below is some tips may help your business successful when doing in Vietnam:
Business Culture
Try to learn a few words of the local language. It is also to know something of the history and of recent economic developments. This show's to all your interest in the country and its culture and is considered another demonstration of your cultural sensitivity and good breeding.
Connection and introductions are an important part of doing business in Vietnam. A written introduction or a meeting arranged by a go-between will produce the best results.
For any business to be consummated, you must make a long-term commitment to the country and visit it. Vietnamese are still a conservative and relation based society and connection over time and face-to-face meetings are critical in building trust and encouraging support.
Generally, business is most efficiently conducted in Ho Chi Minh City (Saigon). But Hanoi often has lower capital requirements and the officials are more eager to please. As you spread out from these two cities, local officials are often enthusiastic for foreign investment but also infrastructure and communications can often be more problematic.
Do not be surprised if your business counterpart of the same sex tries to hold your hand or touch your elbow as you are walking. This action has no sexual connotations, but is common between same-sex individuals in Vietnam. A Vietnamese will usually not do this unless he or she feels very comfortable with you.
Business Meetings
Business cards are always exchanged at the first meeting. The Vietnamese often use both hands to receive and give cards and also slightly bow their head to indicate respect. Taking a minute to look at the persons card, to pronounce their name and to acknowledge their title are often good ways to show your counterpart that you value the opportunity to meet with them.
Bring a large supply of business cards and advertising material. You may meet many more people than you expect. Vietnamese view the exchange of business cards in particularly as a very necessary opening ritual.
Not presenting your card often can be construed as your company is not genuine or you have something to hide, so please prepare the necessary materials prior to your visit.
The traditional Vietnamese greeting is a bow, with the hands together. Men will shake hands with foreigners; women usually do not. If a Vietnamese does not extend his or her handshake, a slight bow of head will suffice. This is particularly common in the more rural areas and in interaction with women.
The order for a Vietnamese name is family name, middle name, and given name. When referring to someone, use his or her given name with the appropriate title, for example, "Nguyen Van Khai" should be addressed as "Mr.Khai".
Vietnamese men often feel uncomfortable socializing with foreign women. They also often assume that women are more comfortable in talking with other women and will often seat them accordingly at meals or sometimes in social meetings.
Have your written materials translated into Vietnamese. Many Vietnamese today have or are studying English or other foreign languages. Most, however, still feel more comfortable with their own language.
Try to speak more slowly and distinctly but not so slow or distinct as to offend. If utilizing a translator, leave breaks for your ideas to be translated.
Keep in mind that in most of Asia that dates are shown in day/month/year format, ex. 9/12/99 means December 9, 1999. To avoid confusion, you may want to use the full date in correspondence.
When you meet with senior officials, after initial pleasantries, begin discussing business within a few minutes, for there may be few opportunities to meet with the senior person and their time is at a premium. With middle and junior level officials, you should concentrate on relationship building.
Even though private businesses in Vietnam have dramatically increased in recent years, a great part of Vietnamese businesses are still owned and controlled by the government or local authorities.
Many executives and officials do not have private offices. Meetings are consequently held in conference rooms. You will be offered tea, or sometimes, coffee. Accept what ever you are served. Be sure to sample them. Failure to taste or drink a small amount of anything is considered impolite.
For further information, please contact us at clientsupport@vietnambusinesssupport.com
Vietnam was ruled for 1,128 years by China and occupied for another 85 years by France. Then, it engaged in a war with the United States for 18 years. The country managed to be reunited on April 30, 1975 and began opening itself to investment again in 1986 through the Doi Moi ("renovation") policy. Besides that, Vietnam business environment is very different and uncommon with foreign investors. Doing business in Vietnam can be easy or difficult, depending on the nature of your product, your business skills, and your awareness of its culture, working and consumption habits and laws. Without this knowledge, starting your business in Vietnam can prove to be an uphill task.
Below is some tips may help your business successful when doing in Vietnam:
Business Culture
Try to learn a few words of the local language. It is also to know something of the history and of recent economic developments. This show's to all your interest in the country and its culture and is considered another demonstration of your cultural sensitivity and good breeding.
Connection and introductions are an important part of doing business in Vietnam. A written introduction or a meeting arranged by a go-between will produce the best results.
For any business to be consummated, you must make a long-term commitment to the country and visit it. Vietnamese are still a conservative and relation based society and connection over time and face-to-face meetings are critical in building trust and encouraging support.
Generally, business is most efficiently conducted in Ho Chi Minh City (Saigon). But Hanoi often has lower capital requirements and the officials are more eager to please. As you spread out from these two cities, local officials are often enthusiastic for foreign investment but also infrastructure and communications can often be more problematic.
Do not be surprised if your business counterpart of the same sex tries to hold your hand or touch your elbow as you are walking. This action has no sexual connotations, but is common between same-sex individuals in Vietnam. A Vietnamese will usually not do this unless he or she feels very comfortable with you.
Business Meetings
Business cards are always exchanged at the first meeting. The Vietnamese often use both hands to receive and give cards and also slightly bow their head to indicate respect. Taking a minute to look at the persons card, to pronounce their name and to acknowledge their title are often good ways to show your counterpart that you value the opportunity to meet with them.
Bring a large supply of business cards and advertising material. You may meet many more people than you expect. Vietnamese view the exchange of business cards in particularly as a very necessary opening ritual.
Not presenting your card often can be construed as your company is not genuine or you have something to hide, so please prepare the necessary materials prior to your visit.
The traditional Vietnamese greeting is a bow, with the hands together. Men will shake hands with foreigners; women usually do not. If a Vietnamese does not extend his or her handshake, a slight bow of head will suffice. This is particularly common in the more rural areas and in interaction with women.
The order for a Vietnamese name is family name, middle name, and given name. When referring to someone, use his or her given name with the appropriate title, for example, "Nguyen Van Khai" should be addressed as "Mr.Khai".
Vietnamese men often feel uncomfortable socializing with foreign women. They also often assume that women are more comfortable in talking with other women and will often seat them accordingly at meals or sometimes in social meetings.
Have your written materials translated into Vietnamese. Many Vietnamese today have or are studying English or other foreign languages. Most, however, still feel more comfortable with their own language.
Try to speak more slowly and distinctly but not so slow or distinct as to offend. If utilizing a translator, leave breaks for your ideas to be translated.
Keep in mind that in most of Asia that dates are shown in day/month/year format, ex. 9/12/99 means December 9, 1999. To avoid confusion, you may want to use the full date in correspondence.
When you meet with senior officials, after initial pleasantries, begin discussing business within a few minutes, for there may be few opportunities to meet with the senior person and their time is at a premium. With middle and junior level officials, you should concentrate on relationship building.
Even though private businesses in Vietnam have dramatically increased in recent years, a great part of Vietnamese businesses are still owned and controlled by the government or local authorities.
Many executives and officials do not have private offices. Meetings are consequently held in conference rooms. You will be offered tea, or sometimes, coffee. Accept what ever you are served. Be sure to sample them. Failure to taste or drink a small amount of anything is considered impolite.
For further information, please contact us at clientsupport@vietnambusinesssupport.com