9780470824528

A practical guide to the realities of doing business in Vietnam. There is a great deal of naivety among companies going into the Vietnam market. People see the amazing growth rates and the fantastic business opportunities. But they don't see the corruption, pollution, poor infrastructure and immature work force that are all byproducts of the war and resulting political situation in the country.

Brian Vierra graduated from Whitman College with a B.A. degree in Economics and went on to complete a Master’s degree in International Management at Portland State University. Prior to founding two successful
businesses in Vietnam, he was the import manager for the New York branch of a global logistics firm. Before this, he served as a Peace Corps Volunteer in Tanzania, East Africa, working as a university economics instructor. Brian is currently the director of Embers Asia Ltd. and the managing director of Phat Tire Ventures. Both companies have operated successfully in Vietnam for more than seven years.

Kimberly Vierra graduated with a Bachelor’s degree in Economics (honors) from Lewis and Clark College, and a Master’s degree in International Management from Portland State University. Kimberly has been a Senior Consultant with ORC Worldwide’s Singapore office since March 2007, after relocating from Dalat, Vietnam where she was the co-founder of Embers Asia. Previously, she was a consultant in ORC’s New York headquarters where she consulted with Fortune 500 companies on their international assignments programs. Prior to ORC, Kimberly worked in the International Assignment Solutions Technology Group of PricewaterhouseCoopers in New York City, and before this worked in the International Human Resources department at Nike, Inc.’s world headquarters.

Preface	p. xiii
Introduction	p. xvii
Structure of the Book	p. xix
Considering Vietnam-Get Ready!	p. xix
Starting up in Vietnam-Get Set!	p. xx
The Daily Challenges-Go!	p. xxi
Considering Vietnam-Get Ready!	p. 1
Why Vietnam?	p. 3
A Snapshot of Vietnam's Economy	p. 3
Economic Overview	p. 4
Summary	p. 7
Web Resources	p. 8
Endnotes	p. 8
Living in Vietnam-It isn't for Everyone	p. 9
Starting up in Vietnam-Get Set!	p. 13
Roadmap to Starting your Business in Vietnam	p. 13
Establishing Your Presence	p. 17
Getting Started: A Vietnamese Perspective	p. 18
Legal Structure	p. 21
Work Permits	p. 23
Work Permit Exemptions	p. 23
Outline for Process of Obtaining a Work Permit	p. 24
Renting Office Space	p. 26
Exit Strategy	p. 28
Summary	p. 30
Endnotes	p. 31
Navigating the Business Landscape	p. 32
Business Protocol	p. 33
Meetings	p. 33
Business Attire	p. 34
Business Entertaining	p. 34
Time Sensitivity	p. 34
Corruption	p. 35
Negotiating with the Vietnamese	p. 39
Dealing with the Different Government Departments	p. 41
Import and Export Considerations	p. 44
Banking and Money Matters	p. 44
Banking	p. 45
Repatriating Profits	p. 46
Exchange Rate	p. 47
Interest Rates	p. 48
Pricing and Naming Considerations	p. 49
Summary	p. 50
Endnotes	p. 50
The Labor of Labor	p. 51
Overview of the Labor Landscape	p. 51
What to Expect: Local Candidates	p. 51
Summary	p. 54
Skill Set Gaps	p. 54
What to Expect: The Viet Kieu Candidate	p. 56
What to Expect: Working Regulations	p. 58
Wages	p. 59
Working Hours	p. 61
Overtime	p. 61
Annual Leave	p. 62
Other Leave	p. 62
Sick Leave	p. 63
Child Care Leave	p. 63
Maternity Leave and Special Benefits	p. 64
Marriage and Death Leave	p. 64
Working Age	p. 65
Recruiting Procedure	p. 65
Labor Contracts	p. 65
Compulsory Insurances	p. 67
Employment of Expatriates	p. 68
Summary	p. 69
Endnotes	p. 69
Working with Local Business Partners	p. 71
Why Do You Need a Partner?	p. 72
Finding a Partner	p. 75
Protecting Yourself	p. 76
How to Approach and Structure a Partnership	p. 79
Managing Your Business from Abroad	p. 80
Summary	p. 81
Endnotes	p. 82
Legal and Other Administrative Hurdles	p. 83
Permitting	p. 84
Regulation and Overall Ease of Doing Business	p. 86
The Post Office Metaphor	p. 87
Laws You Have Probably Already Broken	p. 88
Endnotes	p. 90
The Daily Challenges-Go!	p. 91
Manufacturing, Outsourcing, and Agricultural Production	p. 93
Manufacturing in Vietnam	p. 94
Quality Concerns	p. 96
Strikes	p. 97
Tax Incentives	p. 99
Outsourcing to Vietnam	p. 99
Quality Concerns	p. 100
Education and Literacy	p. 101
Agricultural Production	p. 103
Summary	p. 106
Endnotes	p. 106
Selling into the Vietnamese Market	p. 108
What the Vietnamese Want	p. 109
Branding and Name Recognition	p. 112
Local Competition	p. 113
Distribution	p. 118
Managing a Local Sales Force	p. 119
Advertising	p. 122
Pirated Products and Copies: How They Are Viewed	p. 124
Summary	p. 125
Endnotes	p. 126
Intellectual Property Rights	p. 127
IPR Challenges and Realities in Vietnam	p. 127
The Path to Protection	p. 131
Patents	p. 131
Copyrights	p. 133
Trade Secrets	p. 135
Trademarks	p. 135
Intellectual Property Rights Resources	p. 137
Legal Counsel and IPR Advice in Vietnam	p. 138
Endnotes	p. 139
Tax	p. 140
Taxation Overview	p. 140
Business Taxation	p. 141
Calculating Business Taxable Income	p. 143
Deductions	p. 144
Depreciation	p. 146
Losses	p. 147
Capital Gains Taxation	p. 147
Withholding Tax	p. 147
Dividends	p. 147
Interest	p. 148
Royalties	p. 148
Foreign Income and Tax Treaties	p. 148
Transactions Between Related Parties	p. 148
Transfer Pricing	p. 148
Debt to Equity Proportion Requirements	p. 151
Consolidated Returns	p. 151
Indirect Taxes and Duties	p. 151
Value-added Tax (VAT)	p. 151
Special Consumption Tax (SCT)	p. 153
Accounting Standards	p. 153
Corporate Tax Administration	p. 155
Personal Taxation	p. 156
Determination of Taxable Income Prior to 2009	p. 158
Personal Income Taxes from January 1, 2009	p. 159
Inheritance Tax	p. 160
Gift Tax	p. 161
Tax-related Resources	p. 161
Endnotes	p. 163
Epilogue-Can you Handle the Truth?	p. 165
Industrial and Economic Sector Overview	p. 167
Export Production	p. 167
Agricultural Sector	p. 168
Power Generation and Related Services/Products	p. 168
Construction	p. 169
Telecommunications Equipment and Services	p. 170
Oil and Gas Services/Machinery	p. 171
Airport Support Services and Equipment	p. 175
Environmental Services	p. 177
Health Care	p. 178
Education and Training	p. 180
Franchising	p. 181
Information Technology	p. 181
Endnotes	p. 182
Vietnam Living Conditions	p. 183
Severe Climate	p. 183
Pollution, Sanitation Issues and Disease	p. 184
Vaccination Schedule for Shorter Stays (Less than Four Weeks)	p. 184
Hepatitis A	p. 185
Typhoid	p. 185
Hepatitis B	p. 185
Vaccination Schedule for Longer Stays (More than Four Weeks)	p. 186
Japanese Encephalitis	p. 186
Rabies	p. 186
Tuberculosis (TB)	p. 186
Other Diseases	p. 187
Inadequate Medical Facilities/Questionable Pharmaceutical Productss	p. 187
Crime	p. 188
Traffic and Transportation Concerns	p. 189
Social, Cultural and Recreation Outlets	p. 190
Hanoi	p. 190
Ho Chi Minh City	p. 191
Schooling	p. 191
Ho Chi Minh City	p. 192
Hanoi	p. 192
Infrastructure Concerns	p. 192
Religious Matters	p. 193
Housing	p. 194
Ho Chi Minh City	p. 194
Hanoi	p. 194
Goods and Services	p. 195
Air Travel from Vietnam	p. 195
Endnotes	p. 196
Index	p. 197
Table of Contents provided by Ingram. All Rights Reserved.

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Vietnam Business Guide Getting Started in Tomorrow's Market Today

Vietnam Business Guide Getting Started in Tomorrow's Market Today

0470824522

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