Posts Tagged ‘Business Etiquette’

Vietnam has been joining WTO, and it opens a lot of opportunities to foreign companies who want to do business with Vietnam. With the Vietnamese economy opening up, more and more foreign companies want to invest in Vietnam. However in order to avoid cultural disasters which could make the wrong move in doing business with Vietnam, here are some tips on how you can conduct a more successful business in Vietnam.

The initial approach

Vietnamese business contacts are mostly referrals; essentially a business relationship is struck based on another business associate recommendation. The best prices and deals often comes from a strong recommendation.
However, it is common today for cold calls and direct contacts, given the availability of the internet and the competitive nature of Vietnamese businesses. You may source from the internet, trade fairs, catalogues and brochures, advertisements and approach the Vietnamese companies directly through a call or email.
Alternatively, if you are seeking to invest in a factory in Vietnam, you can approach Vietnam Chamber of commerce and industry (VCCI) or a business advisory directly. They will be able to advise you on your best location based on your industry, raw material and manpower needs.

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