Vietnam

Vietnamese business meeting, everyone wearing formal attire

What is "face?"   Imagine that you’re having a business dinner with two clients. The first client tells a story that embarrasses you, but compliments the second client. In this scenario, you end up losing face while the second client builds face.   Face is an individual’s social standing, and is a key part of Vietnamese business culture. You should avoid causing someone to lose face at all costs,...

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vietnam manufacturing plant

You heard that right. Vietnam, not China, is the world's best manufacturer.   A survey by Deloitte predicted Vietnam, Malaysia and Indonesia will be the top manufacturing countries in 15 years.   Here's how Vietnam reigns supreme in supply, and why your business needs to get on board.     Lower Costs Low labor costs have helped Vietnam become a supply-chain giant.   China used to be the king of manufacturing, with much of their...

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Vietnamese People conversing with each other

How Does This Affect My Business?   Vietnam's fight for sovereignty has given its people a deep sense of pride for their nation. This Vietnamese patriotism can affect your business negotiations, especially if you're criticizing Vietnam.   Giving important events the respect they deserve is essential in Vietnamese culture. It shows that you value Vietnam both as a tourist, and as a potential business client.   A great way to show...

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Banner-vietnam

The Manufacturing King of Southeast Asia   Found along the South China Sea, Vietnam borders Cambodia and Laos to the west, and China to the north.   The nation warred through the 20th century, including a civil war that began in 1954 and ended with reunification in 1975.   The 1986 Doi Moi policy was enacted to lead Vietnam from its central-oriented economy to an economy based on the market.   Tran Dai...

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thai people banner size

Vietnam's one of the world's most cash-dependent economies, with more than 90% of transactions done in cash.   This is because many Vietnamese people don't trust the banks due to corruption and fraud. They would rather risk robbery than have their credit card information stolen.     Alibaba Chairman Jack Ma's Thoughts on Economy Jack Ma is invested in helping Vietnam's economy.   At Hanoi's Electronic Payment Forum, he said Vietnam's cash dependency...

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