Although Vietnam boasts two major cities namely; Ho Chi Minh City and Hanoi city, neither of them is yet an established business hub. However, these two cities have new international terminal that signals a soon business hub. The two cities are well served with international airlines that provide international airline services to Vietnam and neighboring countries such as Singapore. Slowly by slowly it is becoming necessary to travel to Vietnam for business in the recent future. In recent past, the Vietnam airline used to enjoy monopoly domestic flights but that has so far changed thus there has been gradual improvement for international flights as well.
Below are some of the reasons that put Vietnam as one of the big upcoming business hub in Southeast Asia and wide.
The cheap land transport in Vietnam also makes it a lucrative business hub in recent future. Taxis and motorbikes charge relatively cheaper transportation costs although most drivers don’t speak English. In spite this worry of language barrier, there are best hotels in Hanoi and Ho Chi Minh that offer roundtrip transportation services and use English language.
The national language in Vietnam is Vietnamese. However, English is rapidly increasingly spoken especially in private sector. However, there are hosts of reliable interpreters and translators to help you in your business meetings and also while dealing with Vietnam’s government entities.
Vietnam’s Business etiquette
If you decide to travel to Vietnam for business, there are certain simple business good manners that you should practice whenever you are in Vietnam streets to explore business opportunities. Vietnamese are very friendly and respectful people and so, they expect the same from you as a visitor. So, if you want to go a long way in business you need to respect anybody you meet along the way.
- Consensus: One of strong business elements of Vietnamese is decision-making with consensus. When you exercise this consensus decision-making, you will surprised at how the result of business decision takes a quick shape towards success.
- Attire: Vietnamese are very decent people when it comes to business attire. Present yourself in a business attire which is generally a suit and a tie for men and a fine dress for women. However, this might change with changes in weather. So, during hotter seasons a formal shirt and a tie will do for men. However, Vietnamese in the Southern part tend to be more casual in suit jackets for formal and business meetings.
Safety is the most fundamental factors anywhere if you want to venture in a business, especially in a foreign country. Before you decide to travel to Vietnam for business, it is important to note that Vietnam is one of the safest country in Southeast Asia. Apart from petty thieves, pickpockets and snatchers in major towns of Hanoi and Ho Chi Minh, Vietnam as whole remains to be safe for business venture.
The two major cities of Hanoi and Ho Chi Minh City have plenty of top class hotels with modern facilities and amenities that are ideal to business. Alternatively, there are plenty apartments and hostels to help you cut the cost of accommodation.
Because business is all about currency and money, it is important to understand more about Vietnam currency. The official currency in Vietnam is the Dong. Currently, 1 US Dollar is equivalent to 19,860 Dong. However, US Dollar is the second currency accepted in Vietnam other than the Dong. Credit cards are also acceptable. Nevertheless, travelers’ cheques are not allowed in Vietnam.