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Business opportunities in Vietnam Cultural training Vietnam


"Tell me and I forget, teach me and I may remember, involve me and I learn."
~ Benjamin Franklin


 

Companies from around the world are setting up in Vietnam and the government is trying to keep up by improving the ease of doing business. Office buildings and manufacturing centers are sprouting across the country as more foreign companies are catching onto Vietnam's potential.

Vietnam has become an increasingly popular choice for many global companies and the "China Plus" strategy, trying to get away from confining business exclusively in China. For some time, companies have desired to expand Asian operations with emerging markets offering real opportunities. The benefits are not just cost-related, but can reduce the vulnerability associated with various risks, e.g. supply chain, inflation.

Global companies have been setting up operations in Vietnam. The government is trying to keep pace with the increased interest as evidenced by office and manufacturing centers spring up. It appears to be worth taking a look at various options for including Vietnam in a company's global strategy.

Some areas that Vietnam offers include low-cost manufacturing such as plastic, shoes, textiles. Fashion brands with sourcing operations include Adidas and Nike. Big buyers such as Walmart have established operations that employ workers at considerable cost reduction compared to China. Companies such as McDonalds and Starbucks enjoy both a low-cost workforce and a growing consumer market with more and more buying power.

While Vietnam is not yet on par with the more sophisticated manufacturing markets, many tech companies are investing in Vietnam's grown tech capacity, including Samsung, Intel, Microsoft. In the late 1980s, Vietnam was officially open to direct foreign investment.

From 1887 until the Geneva Accord of 1954, Vietnam was a colony of French Indochina and even today it is possible to find French influences through the country. Yet, the influence of Chinese culture over hundreds of years is most significant. Confucianism has shaped the culture and Vietnamese place great emphasis on this system of behaviors and ethics.

Cultural Savvy experts provide a cultural guide to assist companies understand Vietnamese culture in order to succeed in Vietnam. Key cultural concepts include: building trust and strong relationship, face, hierarchy, communication style, leadership and management.

 

Our Vietnam cross-cultural training and coaching will help your organization develop mission critical cultural competence and effective communication skills. Our specialist is a native of Taiwan and a highly respected trainer and coach.

 

 

 

CONTACT US to discuss how our training, consulting, and coaching services can help your company become culturally savvy. 


 

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