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Vietnam Business Guide: Getting Started in Tomorrow's Market Today
John Wiley and Sons Ltd, Jan 2010, Pages: 224
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.
The book draws on the first hand experience of the authors as well as a number of other professionals from the business community in Vietnam. Interviews and first hand accounts of experiences within the country are used to supplement the descriptions and outlines of the business landscape. Foreword: Vietnam: The War is Over? The battle still rages on in Vietnam, although the theatre of operations is different this time. It's a true fight to succeed in the Vietnamese market. The opportunities suck many a naïve investor into what inevitably proves too grueling an experience to overcome. The big multinationals have the resources (read lawyers and accountants), to make a legitimate go of it and truly capitalize on the opportunities, but even they suffer casualties. The project may not fail, but many an expensive expat, brought in as the country manager and paid top dollar, does. Introduction: Opening and Closing and Opening and Doi Moi, or 'renovation', was launched by the Sixth Party Congress in 1986. Early movers rushed in to enjoy the low wage labor and to be first to hawk their wares to the brand conscious Saigonese. Many of these early movers realized that intent out shown any actual reforms in these primitive doi moi days. They decided that low wages weren't enough to keep their investments in-country. With recent accession into the WTO, most of these companies are back again for a second try, along with a slew of new, 'me too', companies. What this means to any organization now entering the market is fierce competition against players that are already entrenched in this still reforming Vietnam. Vietnam's critics claim that the doi moi door that slammed shut in some investor's faces in the early 90's will most likely swing shut again. Vietnam's enthusiasts are betting, on the other hand, that the WTO will be able to wedge the door open permanently.
About the Author
Kimberly Vierra is a Senior Consultant in the Asia Pacific regional office of ORC Worldwide, an international consulting firm offering professional assistance to management in dealing with the human resources of organizations. From 2001-2006, Kimberly and her husband, Brian, started, grew and sold an experiential learning and team building company headquartered in Ho Chi Minh City, Vietnam. During that time, Kimberly delivered experiential programs to various multinational corporations, NGOs and foreign government institutions, and Brian ran the day to day operations of the business. Previously, Kimberly was a consultant in ORC's New York headquarters where her responsibilities included consulting with Fortune 500 companies on their international assignment policies and practices. Prior to employment with ORC, Kimberly was a consultant in the International Assignment Solutions Group of PricewaterhouseCoopers and for five years, Kimberly worked in the International Human Resources department at Nike, Inc.'s world headquarters.
Brian Vierra is the founder of two successful businesses in Vietnam, Embers Asia Ltd., with offices in Ho Chi Minh City and Singapore, and Phat Tire Ventures, with offices in Dalat and the World Heritage site of Hoi An.
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