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In our efforts to reformat the newsletter and provide actionable and timely perspectives, business trends and insights, we present a special focus this month. Our focus on Vietnam offers an insider's perspective and point of view on the opportunities and barriers to conducting business in this market. It is a think-piece, intended to spark discussion in our pangaea.talk.NEWS(tm) bulletin board.
Please feel free to share your comments, opinions and ideas about Vietnam as a business opportunity for Asia, Europe, the Americas, etc.
"Doing Business in Vietnam-- an insider’s perspective"
Contributed by Sam Pyun,
a multi-cultural PANGAEA consultant who recently returned to the US after working in Hanoi this past year for a leading Korean conglomerate.
Focus on Vietnam
Why should you be considering business in Vietnam?
Vietnam might well end up living up to the name, pearl of the orient.Among the emerging markets of the Asia Pacific region, China is the undisputed heavyweight and recipient of most of the attention -- deservedly so, considering the sheer weight of its size and potential. Vietnam, in comparison, has had both the fortune and misfortune of emerging in the shadows of this giant - unfortunate in that much aid and foreign investment has primarily targeted China; but fortunate in that it has allowed the country to methodically plan out its development -- largely by observing its neighbor.
Another important point is that Vietnam will play a crucial role in balancing the power of an emerging China. What that translates to for businesses interested in overseas markets is a real opportunity to take advantage of this rapidly closing window and to be one of the early established enterprises and brands in Vietnam. Companies that pass up this opportunity will be missing out. The potential of the Vietnamese market is huge.
For more information about investing in Vietnam or other foreign markets, or if you would like an in-depth market study, contact PANGAEA, International Consultants. With an extensive network of marketing consultants, attorneys, logistics experts and more around the world, PANGAEA is uniquely qualified to offer hands-on, local marketing and management consulting services.
- Amongst Southeast Asian countries, Vietnam is well-positioned as a potential force in the coming decade, with a high population/high education combination, which most resembles Japan's --with one critical difference -- It has it’s own supply of key natural resources, especially oil and gas
- It is the hub of the Indochina region, which is just beginning to offer its vast resources
- It’s geographic location, lying between upper East Asia and lower East Asia, makes it an ideal base for transshipment and control activity
- Labor is educated yet relatively inexpensive
- A long period of lacking exposure to foreign quality goods has made the Vietnamese hungry for new products
- The needs in basic infrastructure and for the service sector (telecommunications, financial, etc.) are enormous
Who’s doing what?
What should you be selling?
Consumer profile
More Observations, Suggestions and Recommendations
What problems will you face?
Latest happenings and trends to watch
To keep up on what's new in Vietnam this month, keep checking back here for regular news "snippets," as they occur. And if you have news to contribute, we'll print it.For more information: Vietnam -- Basic Facts
MORE NEWS ON THE HORIZON...
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