Doing Business In Vietnam?

[canadiangirl]

Hi guys,

although Thailand remains my first love in SEA, I'm having a hard time seeing a future for myself there, at least in the next few years.

I'm currently looking at Vietnam as a possibility, and I'm hoping that some of you might have some experiences to share.

How easy is it to do business in Vietnam? In my understanding, it is opening itself more and more to foreign investment, and seems keen to develop a high-tech sector.

If, as a foreigner, I am considering starting a company in Vietnam, what things should I be aware of? It's a broad topic of course, so I am looking in particular for pointers to good sources of information about tax laws for businesses, laws about incorporation, foreign investment, employment law, etc.

Thank you very much for any information.

Edited October 29, 2007 by canadiangirl

[technocracy]

Hi guys,

although Thailand remains my first love in SEA, I'm having a hard time seeing a future for myself there, at least in the next few years.

I'm currently looking at Vietnam as a possibility, and I'm hoping that some of you might have some experiences to share.

How easy is it to do business in Vietnam? In my understanding, it is opening itself more and more to foreign investment, and seems keen to develop a high-tech sector.

If, as a foreigner, I am considering starting a company in Vietnam, what things should I be aware of? It's a broad topic of course, so I am looking in particular for pointers to good sources of information about tax laws for businesses, laws about incorporation, foreign investment, employment law, etc.

Thank you very much for any information.

Hmmm well what do you mean by a 'high-tech sector'? The Viet market is particularly busy due to Microsoft and Intel opening factories there. Also they are way ahead in terms of technology compared to everywhere in SE Asia with Singapore being an exception. For example there have already been Wimax trails in the North of the Country with the idea to roll it out to all remote regions. Vietnam Telecom are implementing a NGN network - with technical help from a german consultancy. The have IP Telephony pretty much everywhere, Internet cafes are 10 and penny and most hotels have free for guest internets.

Most Telecom equipment producers including Cisco have offices in the country - complete with consultants. So it'd be a pretty tough nut to crack - the main thing you need to have is prior experience in the 'bleeding edge' technologies they are trying to roll-out then I think you could have a market for consultancy services. Since in general they are still on the first rungs of learning new technologies

The one thing that isn't nice is the foreigner tax laws where you could end up paying 40% of your wage to the government!

I have considered a consultancy idea myself, having the kind of experience they want, however since I am trying to change away Telecoms (BORED already!) and establish a company here in Laos doing some I actually enjoy, I really don't have the inclination or desire to do so!

The one thing with Vietnam is they are trying very hard to attractive western companies to the country and to be honest they'll succeed since not only do they have a very large and cheap work force they aren't lazy when it comes to hard work unlike Thai and Lao for that matter! Something which I don't think Thailand fully understands when companies are going to Vietnam instead of Thailand - companies want employees who'll actually turn up and do some work!

[Prakanong]

"they aren't lazy when it comes to hard work unlike Thai and Lao for that matter! Something which I don't think Thailand fully understands when companies are going to Vietnam instead of Thailand - companies want employees who'll actually turn up and do some work!""

ROFL - I should not laugh as our thai staff - the ones I deal with are very hard working but i do know what you mean.