buisness in vietnam

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PRESENTATION ON DOING BUISNESS IN VIETNAM SUBMITTED TO AMAR AUJLA SUBMITTED BY NEHA BAGHEL GAURAV CHAUHAN PRAVEEN YADAV TUSHAR

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COUNTRY AT A GLANGE NAME-SOCIALIST REPUBLIC OF VIETNAM CAPITAL-HANOI LARGEST CITY-HO CHI MINH OFFICIAL LANGUAGE-VIETNAMESE CCURRENCY-NEW DONG AREA-326797SQ KM RELIGION-BUDDHISM NEIGHBOURS-CHINA IN NORTH AND LAOS AND CAMBODIA IN WEST POPULATION-83.6 MILLION ETHNIC GROUPS-VIETNAMESE,CHINESES,HMONG,THAI

Vietnam Background : 

Vietnam Background Location - Southeastern Asia - bordering Gulf of Thailand, Gulf of Tonkin, the South China Sea, and Laos - between China and Cambodia

Vietnam Background : 

Vietnam Background Geographic Characteristics - total land area is 325,360 sq. km (125,621.496 sq. mi.) Terrain - South and North, low flat delta - Center, mostly highlands - Far North and Northwest, hilly and mountainous

Vietnam Background : 

Vietnam Background Climate - tropical in South - monsoonal in North - hot, rainy season - warm, dry season

History of Vietnam : 

History of Vietnam From 207 B.C. to the 10th Century, under the rule of the Chinese dynasties From the 10th Century to the 19th Century, Vietnam experienced a period of independence. In the mid-19th Century, France colonised in Vietnam This continued until World War II--when Japan occupied Vietnam as a base for attacks against India. After World War II, Vietnam was split in to two separate countries, North Vietnam and South Vietnam, separated by a demilitarised zone, or an area where weapons and armed forces were not permitted.

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Vietnamese Culture and Daily Life

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Vietnamese culture Believe in spirituality Tet main festival(to mark new lunar year and advent of spring) Pre-eminent architectural form is the pagoda Language is exceptionally flexible and lyrical Poetry plays an important part in both literature and performing arts Music dance and puppetry mainstay of Vietnamese culture Cooking is highly innovative and makes extensive use of fresh herbs Soup is served at every meal

Vietnamese Food : 

Vietnamese Food Vietnam’s food is a mixture of its occupiers and neighbours--France, China, Thailand. A traditional Vietnamese breakfast is a steaming hot bowl of pho, a thin noodle soup with chicken and mix of vegetables and spices. Food in the North tends to sweeter, while food in the South tends to be spicier.

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Political Structure Socialist state Ruled by single party the Vietnam communist party National assembly is the supreme organ and only body having the constitutional and legislative power President and prime minister of the state is elected by the national assembly President nominates candidates for key positions Prime minister is responsible for for the day to day working Diplomatic relations with 168 countries

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LEGAL STRUCTURE Constitutions supremacy Two tier court system court of first instances and court of appeal Court system consists of- supreme court, provincial court and district courts Alternate dispute resolution mediation and arbitration New laws and regulations to boost foreign investment enterprises governed by enterprise law and investment law salient features equal treatment for foreign and domestic enterprises the foreign investor is allowed to establish branch offices and representative offices establish legal entities invest through contractual forms

Vietnam ECONOMY : 

Vietnam ECONOMY GDP per capita-2800$ agriculture-22% industry-39.1% services- 38.1% MAIN INDUSTRIES mining industry-coal, phosphate, iron, tin, gold ,manganese ,bauxite lead zinc lime petroleum industry Food processing- sea food, tea ,coffee Cement industry Chemical industry- fertilizer being the most important Steel and rubber industry Moving towards economic reforms Doi Moi

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Foreign Direct Investment Source: VIR 7-13/Apr/2003)

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SOCIAL ETIQUETTES -They avoid loud conversations and using too many gestures as it is considered very rude.- Pointing fingers or calling anyone with fingers pointed upward is impolite. - Rather you should use your entire hand with fingers placed downwards.-The Vietnamese are not too fond of any kind of physical contact in public, especially with the opposite sex.- They bow down to show respect specially to an elderly person.- They use both their hands when passing on any object.- According to Vietnamese etiquette standing with arms on the hips is considered ill-mannered.- Crossing ones arms on the chest is also a very rude gesture.

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BUSINESS ETIQUTTE - The Vietnamese are extremely punctual for business meetings and look for the same from others.- They appreciate formal dressing in official programs.- They shake hands at the beginning and end of meetings, but it is not done among the opposite sex.- They exchange business cards on the very first encounter.- The entire dealing should be done very politely, without any sort of hostility because the Vietnamese are peace loving and look down upon any kind of temper flares.

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NEW BUSINESS OPPORTUNITIES IN VIETNAM Two new businesses liquor education Why liquor business ? raw material abundance governments favorable attitude Expected growth rate 12%.projected for 2011-15 at 13% The total production of this type of alcohol is estimated at 242,412 liters per year (1997) Promotion by the government Huge market to tap on the domestic and the foreign front The annual alcohol consumption per capita in Vietnam is 3.52 litres per person per year. APPROACH By way of joint venture with a domestic company

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Why education ? Large market Outdated curriculum world bank approval of 177 million US$ loan for higher education governments positive attitude Vietnamese people inclination towards English language APPROACH GREEN FIELD OPERATION IN THE FIELD OF TECHNOLOGY AND MANAGEMENT SCHOOL EDUCATION

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