business / investment opportunities in vietnam

[mixmediana]

I'm trying to explore some opportunity, investment,

Thinking about Vietnam, but I didnt decide yet,

any idea about business opportunity, life etc,,

any shared ideas will be highly appreciated,

Thanks in advance.

[catman20]

i know a guy went there a few years back opened a restaurant selling farang food very busy and successful. had restaurants here in Thailand but struggled.

Edited December 14, 2016 by catman20

[mixmediana]

14 minutes ago, catman20 said:

i know a guy went there a few years back opened a restaurant selling farang food very busy and successful. had restaurants here in Thailand but struggled.

Restaurant n catering business generally not that my business area,

but, looking for something like trading stock exchange, export/import raw materials etc,,

 

Other question is possible, how about life style, cost of living: rental, food etc,,? same as Thailand ?

 

[catman20]

6 minutes ago, mixmediana said:

Restaurant n catering business generally not that my business area,

but, looking for something like trading stock exchange, export/import raw materials etc,,

 

Other question is possible, how about life style, cost of living: rental, food etc,,? same as Thailand ?

 

cost of living is cheaper there but no girls so im told

[mixmediana]

1 minute ago, catman20 said:

cost of living is cheaper there but no girls so im told

That's what my quest was about,, the rental, cost of living, availability of facilities, and that's good enough to consider,,

Still not sure about visa and work permit procedures, how easy or complicated in some corners same as here etc or not, 

However, appreciate your interaction,

[Rosco911]

Hi Mixmediana

 

You will find information on this web site helpful http://www.healyconsultants.com/vietnam-company-registration/setup-llc/

The main problem is the amount of funds required to set up in VN if you are looking at opening a Ltd, LCC, Free Zone, Joint venture. A nominee company is the cheaper option but also carries more risk.

Cost of living is cheaper in VN but rental of houses especially if in Hanoi are expensive. Catman20 is correct, the nightlife is very different.

Hope this helps.

[12DrinkMore]

39 minutes ago, mixmediana said:

Restaurant n catering business generally not that my business area,

but, looking for something like trading stock exchange, export/import raw materials etc,,

 

Other question is possible, how about life style, cost of living: rental, food etc,,? same as Thailand ?

 

 

- Rental is more expensive in Hanoi and Saigon than Bangkok.

 

- Food is slightly more expensive, but less variety. Get ready to eat Phoo. Out in the sticks and not so sticks there is not the plethora of decent restaurants you can find in Thailand. They are also way dirtier than Thai restaurants. 

 

- Beer is a lot cheaper.

 

- Coffee is awesome.

 

- General lifestyle is what you make of it and the width of your wallet.

 

- Administrative stuff such as opening a bank account is a pain for foreigners, for example you cannot pay Dong into a bank account (nor can you transfer out of Vietnam), but have to bring forex. Use the goldshops for money exchange. They give the best rates.

 

- Wear ear plugs. The Vietnames are noisy.

 

- Prepare to be ripped off left, right and centre. It becomes a constant and tiring battle. 

 

- I found the language to be more inpenetrable than Thai.

 

Best idea is to go there and try it for a few months. Overall it is harder, IMO, to live there than in Thailand, which is much more "used to" having foreigners around.

 

[mixmediana]

Rosco 911 and 12DrinkMore,  Thanks for the informative replies,

I expected that could be a much less options in everything, something looks like Cambodia or alike,

However, for bank acc. what about Bangkok bank, or Kasikorn? do they have branches there? or how possible to use my Thai acc there, or need some amendment procedure etc?

Thanks,

[catman20]

2 hours ago, mixmediana said:

That's what my quest was about,, the rental, cost of living, availability of facilities, and that's good enough to consider,,

Still not sure about visa and work permit procedures, how easy or complicated in some corners same as here etc or not, 

However, appreciate your interaction,

from what i gather Thailand is about as good as it gets over all.

[amjamj]

And what about Cambodia ? Seems easier...

 

 

[nemrut]

Vietnamese are more cut throat than Thais when it comes to business and shameless about taking advantage of others even if it means blatantly lying.  The country is like an abused child that is still recovering from decades of war/famine resulting in dog-eat-dog up bringing.

 

That being said, it is one of the safest countries in the world, even more so than many western countries.  VNs are still largely influenced by Chinese culture so hookups/dating are not typical vs investing in longer term relationships.

 

Wrt to the infamous Vietnamese coffee, it will shock some that much of the 'awesome' coffee in VN is actually made from soybeans combined w/chemical additives and flavorings...ymmv.

[mixmediana]

1 hour ago, nemrut said:

Vietnamese are more cut throat than Thais when it comes to business and shameless about taking advantage of others even if it means blatantly lying.  The country is like an abused child that is still recovering from decades of war/famine resulting in dog-eat-dog up bringing.

 

That being said, it is one of the safest countries in the world, even more so than many western countries.  VNs are still largely influenced by Chinese culture so hookups/dating are not typical vs investing in longer term relationships.

 

Wrt to the infamous Vietnamese coffee, it will shock some that much of the 'awesome' coffee in VN is actually made from soybeans combined w/chemical additives and flavorings...ymmv.

haha so amazing news really !!

The idea plan is to settle for a 5 years period,

How about Mynmar guys comparing to VN ? in doing biz and living there for the next 5 years or so,,

what are the pros and cons between?

I been to P. Penh,  how dirty roads,, even saw street food vendor cooking on wood,, when I was riding a tuktuk on my to Thai embassy, broken roads, pile of sands, rubbish scattered everywhere etc,, so I can imagine how it looks like or something nearby to that scene..

How about the visa procedures? fees on arrival ?

[amjamj]

7 hours ago, nemrut said:

Vietnamese are more cut throat than Thais when it comes to business and shameless about taking advantage of others even if it means blatantly lying.  The country is like an abused child that is still recovering from decades of war/famine resulting in dog-eat-dog up bringing.

 

That being said, it is one of the safest countries in the world, even more so than many western countries.  VNs are still largely influenced by Chinese culture so hookups/dating are not typical vs investing in longer term relationships.

 

Wrt to the infamous Vietnamese coffee, it will shock some that much of the 'awesome' coffee in VN is actually made from soybeans combined w/chemical additives and flavorings...ymmv.

 

 

Full of cheaters there, I agree, it's a small China !

 

 

[mixmediana]

What a good news,,  their coffee is just soybeans with additives ??

As long as being a little china, is clear enough, no wonder of cheating, robbing or any else ..

 

What about Myanmar guys? anyone had an experience there?

Edited December 15, 2016 by mixmediana

[easton]

On 12/14/2016 at 2:10 AM, catman20 said:

cost of living is cheaper there but no girls so im told

 

Plenty of girls and easy to meet.

[catman20]

17 minutes ago, easton said:

 

Plenty of girls and easy to meet.

where what part and how much?

[easton]

8 hours ago, catman20 said:

where what part and how much?

 

You want a good girl? Go to any restaurant or coffee place in Saigon, they are easy to chat up and like to practice English.

 

You want a bad girl? Many places around Bui Vien St in Saigon have girls available. Bars or girls on the street (parks are good) everywhere. It will cost between  $18 and $90 depending on where you get one from . 

[balo]

I think I would prefer Cambodia for business , just easier and cheaper for living expenses.  

PP is not bad really once you get used to it.  I know people there opened restaurant and doing ok . And lots of digital nomads , same as here.

 

 

 

 

 

[12DrinkMore]

On 12/14/2016 at 4:22 PM, mixmediana said:

Rosco 911 and 12DrinkMore,  Thanks for the informative replies,

I expected that could be a much less options in everything, something looks like Cambodia or alike,

However, for bank acc. what about Bangkok bank, or Kasikorn? do they have branches there? or how possible to use my Thai acc there, or need some amendment procedure etc?

Thanks,

 

Never saw any branches of Thai banks in Vietnam, although they probably have a presence for international commercial stuff.

 

Thai ATM cards function but you get hit with charges and a poor exchange rate. I always take crisp USD 100 bills. They are the world's favourite note..... 

[12DrinkMore]

On 12/14/2016 at 8:25 PM, nemrut said:

Wrt to the infamous Vietnamese coffee, it will shock some that much of the 'awesome' coffee in VN is actually made from soybeans combined w/chemical additives and flavorings...ymmv.

 

Oh dear, I will have to revise my opinion.

 

http://www.thanhniennews.com/society/coffee-makers-use-chemicals-soy-beans-corn-no-real-coffee-5604.html

 

Still, all those chemicals tasted good.

[amjamj]

21 hours ago, balo said:

I think I would prefer Cambodia for business , just easier and cheaper for living expenses.  

PP is not bad really once you get used to it.  I know people there opened restaurant and doing ok . And lots of digital nomads , same as here.

 

 

 

 

 

 

 

So true that Cambodia is easier and better, also closer to Thailand to buy things not available there and carry by road.

 

Vietnamese are often worst than Chinese whom I also don't trust.

 

 

 

 

[mixmediana]

Thanks for the shared info guys,, especially about the so-called Vietnamese coffee famous brand !!!

I bought some of them from cambodia , as well some green tea, they told me it's high quality,, even though I didnt open yet,, still consuming some other brands opened earlier,,

However, will add Vietnamese food items to my ban list same as Chinese,

often I see some fruits or vegetables available at very much cheaper prices, and looks like more fresh etc,, but I ask first, once I knew is from China, I dont buy, this became my rule since the melamine scandal case few years ago, and I read similar other cases too, so the are just alike mindset !!