I received a DM asking about doing business in Vietnam. I have my own company here and you need to be a certain type of individual to make it work here. Here is my response to you:
There is an incredible amount of wealth being created and if you can find a way to gain a presence as expert, luxury or unique you can build tremendous success. Competing in the low(lower mid) or mid market will likely be tough. Wish you every success and if you ever want to bounce any ideas or some advice or an ear - I am here. I would advise you to seriously consider having a local business partner (it will end in tears) and being in a market/space that has strong local competition (you'll be undercut and not trusted). VN is yet to achieve Emerging Market status it is still a frontier with hugely complex banking regulations (or lack thereof) and a very immature and complex legal framework that is almost impossible to enforce as you will likely encounter (under the table) situations. Having said that it is these immaturities and complexities that present a huge array opportunities. Not for the faint hearted and be prepared to be 'conned, scammed and ripped' by everyone from immigration officers, police, lawyers, landlords, taxi drivers and everyone in-between. God Bless and wish you the best.
e.vnexpress.net
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