Vietnam Business Guide: Getting Started in Tomorrow's Market TodayISBN: 978-0-470-82452-8
Paperback
224 pages
January 2010
This is a Print-on-Demand title. It will be printed specifically to fill your order. Please allow an additional 10-15 days delivery time. The book is not returnable.
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Preface xiii
Introduction xvii
Structure of the Book xix
Part 1: Considering VietnamGet Ready! xix
Part 2: Starting up in VietnamGet Set! xx
Part 3: The Daily ChallengesGo! xxi
Part 1 Considering VietnamGet Ready! 1
Chapter 1 Why Vietnam? 3
A Snapshot of Vietnam’s Economy 3
Economic Overview 4
Summary 7
Web Resources 8
Endnotes 8
Chapter 2 Living in VietnamIt isn’t for Everyone 9
Part 2 Starting up in VietnamGet Set! 13
Roadmap to Starting your Business in Vietnam 13
Chapter 3 Establishing Your Presence 17
Getting Started: A Vietnamese Perspective 18
Legal Structure 21
Work Permits 23
Work Permit Exemptions 23
Outline for Process of Obtaining a Work Permit 24
Renting Office Space 26
Exit Strategy 28
Summary 30
Endnotes 31
Chapter 4 Navigating the Business Landscape 32
Business Protocol 33
Meetings 33
Business Attire 34
Business Entertaining 34
Time Sensitivity 34
Corruption 35
Negotiating with the Vietnamese 39
Dealing with the Different Government Departments 41
Import and Export Considerations 44
Banking and Money Matters 44
Banking 45
Repatriating Profits 46
Exchange Rate 47
Interest Rates 48
Pricing and Naming Considerations 49
Summary 50
Endnotes 50
Chapter 5 The Labor of Labor 51
Overview of the Labor Landscape 51
What to Expect: Local Candidates 51
Summary 54
Skill Set Gaps 54
What to Expect: The Viet Kieu Candidate 56
What to Expect: Working Regulations 58
Wages 59
Working Hours 61
Overtime 61
Annual Leave 62
Other Leave 62
Sick Leave 63
Child Care Leave 63
Maternity Leave and Special Benefits 64
Marriage and Death Leave 64
Working Age 65
Recruiting Procedure 65
Labor Contracts 65
Compulsory Insurances 67
Employment of Expatriates 68
Summary 69
Endnotes 69
Chapter 6 Working with Local Business Partners 71
Why Do You Need a Partner? 72
Finding a Partner 75
Protecting Yourself 76
How to Approach and Structure a Partnership 79
Managing Your Business from Abroad 80
Summary 81
Endnotes 82
Chapter 7 Legal and Other Administrative Hurdles 83
Permitting 84
Regulation and Overall Ease of Doing Business 86
The Post Office Metaphor 87
Laws You Have Probably Already Broken 88
Endnotes 90
Part 3 The Daily ChallengesGo! 91
Chapter 8 Manufacturing, Outsourcing, and Agricultural Production 93
Manufacturing in Vietnam 94
Quality Concerns 96
Strikes 97
Tax Incentives 99
Outsourcing to Vietnam 99
Quality Concerns 100
Education and Literacy 101
Agricultural Production 103
Summary 106
Endnotes 106
Chapter 9 Selling into the Vietnamese Market 108
What the Vietnamese Want 109
Branding and Name Recognition 112
Local Competition 113
Distribution 118
Managing a Local Sales Force 119
Advertising 122
Pirated Products and Copies: How They are Viewed 124
Summary 125
Endnotes 126
Chapter 10 Intellectual Property Rights 127
IPR Challenges and Realities in Vietnam 127
The Path to Protection 131
Patents 131
Copyrights 133
Trade Secrets 135
Trademarks 135
Intellectual Property Rights Resources 137
Legal Counsel and IPR Advice in Vietnam 138
Endnotes 139
Chapter 11 Tax 140
Taxation Overview 140
Business Taxation 141
Calculating Business Taxable Income 143
Deductions 144
Depreciation 146
Losses 147
Capital Gains Taxation 147
Withholding Tax 147
Dividends 147
Interest 148
Royalties 148
Foreign Income and Tax Treaties 148
Transactions Between Related Parties 148
Transfer Pricing 148
Debt to Equity Proportion Requirements 151
Consolidated Returns 151
Indirect Taxes and Duties 151
Value-added Tax (VAT) 151
Special Consumption Tax (SCT) 153
Accounting Standards 153
Corporate Tax Administration 155
Personal Taxation 156
Determination of Taxable Income Prior to 2009 158
Personal Income Taxes from January 1, 2009 159
Inheritance Tax 160
Gift Tax 161
Tax-related Resources 161
Endnotes 163
EpilogueCan you Handle the Truth? 165
Appendix A Industrial and Economic Sector Overview 167
Export Production 167
Agricultural Sector 168
Power Generation and Related Services/Products 168
Construction 169
Telecommunications Equipment and Services 170
Oil and Gas Services/Machinery 171
Airport Support Services and Equipment 175
Environmental Services 177
Health Care 178
Education and Training 180
Franchising 181
Information Technology 181
Endnotes 182
Appendix B Vietnam Living Conditions 183
Severe Climate 183
Pollution, Sanitation Issues and Disease 184
Vaccination Schedule for Shorter Stays (Less than Four Weeks) 184
Hepatitis A 185
Typhoid 185
Hepatitis B 185
Vaccination Schedule for Longer Stays (More than Four Weeks) 186
Japanese Encephalitis 186
Rabies 186
Tuberculosis (TB) 186
Other Diseases 187
Inadequate Medical Facilities/Questionable Pharmaceutical Products 187
Crime 188
Traffic and Transportation Concerns 189
Social, Cultural and Recreation Outlets 190
Hanoi 190
Ho Chi Minh City 191
Schooling 191
Ho Chi Minh City 192
Hanoi 192
Infrastructure Concerns 192
Religious Matters 193
Housing 194
Ho Chi Minh City 194
Hanoi 194
Goods and Services 195
Air Travel from Vietnam 195
Endnotes 196
Index 197