Vietnam

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Vietnam

Introduction. Vietnam is a unique civilization with highly cultured people. It is a country filled with natural beauty, tranquil rural settings, and bustling urban centers. In this period of renovation, Vietnam is emerging as an economic powerhouse in South East Asia. From the bustling commercial center of Ho Chi Minh City to the gracious capital of Ha Noi, local business is flourishing and international companies are lining up to invest in new projects. The nation, strangled by years of war, is now flexing its muscles. To succeed in international business is to understand the uniqueness of the culture you will encounter. The purpose of this report is to inform you of some of the business customs you could encounter in Vietnam.

Climate. The climate of Vietnam is subtropical. The average temperature for the country is 84 degrees. The country receives most of their annual rainfall in the summer. The southern moisture air currents move across the land during the summer. When traveling to Vietnam on business during the summer be prepared for unexpected rainfall.

Currency Exchange. The unit of currency in Vietnam is the Dong. The United States dollar is approximately worth 15000 dong. The dong has constantly fallen in value for the last decade. In Vietnam you are not allowed to export the Dong, however, you are allowed to import other forms of currency. You should pay your bills with Dong instead of low denominations of American currency.

Passports and Visas. A valid passport and visa are required for all foreigners visiting Vietnam. Visas are issued by Vietnamese embassies and consulates. Business visas are good for six months and provide for multiple entries. Sponsorship by a licensed Vietnamese enterprise is required. Your Vietnamese trade partner will provide you with the necessary details.

Setting Up an Appointment. Communications with Vietnam may present a problem. Try to have someone in Vietnam set up your meetings ahead of time. A representative could be an official United States office, like the US-ASEAN Council, or it could be a private entity, like a bank. But you should have someone in the country to set appointments for you. Some Western visitors may be confused by a double standard. It would be fairly common for your Vietnamese host to be late for a meeting. Being 30 to 40 minutes late is not unusu...

... middle of paper ...

...until your hosts do. The Vietnamese seem to be influenced by the French custom; that if you are going to talk business over a meal, it happens towards the end of the meal, when the cheese, dessert, or coffee is served.

It would be a good idea to bring along some gifts. A good time to present gifts would be at the end of the first meeting. Souvenirs from your part of the United States always work well. And don't be surprised if your partners help you with suggestions of what gifts to bring on your next trip.

Language and Religion. Though Vietnamese is the official language of Vietnam there are several other languages spoken, such as, Chinese, English, French, Khmer, and tribal languages (Mon-Khmer and Malayo-Polynesian).

There are also several different religions in Vietnam. The religious groups include Buddhist, Taoist, Roman Catholic, indigenous beliefs, Islam, Protestant, Cao Dai, and Hoa Hao. Religion is a very important aspect in Vietnam.

Conclusion. In conclusion, before you visit Vietnam, or any other country, research must be done to find out their business ethics. This will keep you from making mistakes that could cause you or someone else to lose face.

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