The growth is expected to continue as recruitment demand rises.
Salaries in Vietnam are rising faster than in any other Southeast Asian country, according to a recent survey released by employment website Jobstreet.com.
The average annual growth rate of Vietnam’s payroll stands at 20-24 percent, compared to 14-20 percent in Thailand, the Philippines, Indonesia, Myanmar and Singapore.
In Vietnam, management and executive salaries grew fastest, at 26 and 35 percent respectively.
The survey found that 68 percent of companies operating in Vietnam want to expand their businesses in the future, so they have high recruitment demands. Jobstreet forecast that salary growth will continue with this demand.
Vietnam’s minimum wage, however, doesn’t enjoy such a large jump. On Monday, the prime minister signed off on a decree raising the minimum wage for 2018 by 6.5 percent, the lowest nominal bump in 11 years.
The rise brings the minimum wage for Region I to VND3.98 million ($175) a month. Region II to VND3.53 million, Region III to VND3.09 million and Region IV to VND2.76 million.
In Vietnam, there are four different minimum wage regions, which are supposed to reflect the cost of living in each area. Region I, including Hanoi and Ho Chi Minh City, has the highest minimum wage, while region IV, which is for rural areas, has the lowest.
The megacity has reconsidered the proposal after some people called it ‘rigid’ and ‘silly.’
Ho Chi Minh City has announced it will not be banning public servants from wearing jeans and T-shirts in the workplace following backlash at the proposal.
The city’s government said that the idea of a no-jeans office had received divided opinions, local media reported late on Wednesday.
In October, the city’s Department of Home Affairs proposed the ban on jeans and T-shirts as part of an etiquette code for public servants. The proposal was made a month after the same ban took effect in the southern city of Can Tho, the country’s fifth largest after Hanoi, HCMC, Da Nang and Hai Phong.
The code requires public servants to be polite and respectful at work, in their neighborhoods and in public places.
Although some people agreed that public offices should be a place for smart uniforms, others said jeans and T-shirts have become so common that saying they are not smart enough is not a convincing argument.
Some people called the proposed ban “rigid” and “silly”.
They said they support clothes that make workers feel active and comfortable providing they have a good attitude when dealing with the public.
HCMC is set to launch its etiquette code by December 25.
The government’s preferred option would have the 7-day holiday start on February 14.
Vietnam’s Government Office on Thursday announced the government is favoring a proposal that would have the upcoming Lunar New Year (Tet) break start two days before New Year’s Day, which falls on February 16, 2018.
“The holiday would start on [December] 29 and people would go to work from [January] 6,” said Mai Tien Dung, Minister, Chief of Office of the Government Office, referring to the dates in the lunar calendar. The holiday would accordingly be from February 14-20.
“We should not have a short break so public servants can visit their hometown, family, relatives and friends, but the break should not be too long either,” Dung said.
This option is the first of the two 7-day options proposed by the labor ministry in September. Under the second option, the holiday will start on February 15, a day before Tet, and run until February 21, the sixth day of the New Year.
Schools and other businesses across the country usually follow the same break as government offices.
The government approved a seven-day break last year.
Tet is a time for family reunions in Vietnam with droves of migrant workers flocking home before Lunar New Year’s Eve.
The labor ministry has also submitted plans for other public holidays in 2018.
Accordingly, employees will have a total of 18 public holidays in 2018, including three days for New Year (December 30, 2017 to January 1, 2018), one day for the Hung Kings’ Festival (April 25), four days for Reunification Day and Labor Day (April 28 to May 1), and three days for Independence Day (September 1-3).
SINGAPORE — One of Thailand’s richest tycoons is looking to buy a quarter of Vietnam’s largest beer maker in a deal worth at least $2.25 billion, making his company the sole bidder wanting to buy a substantial stake.
If successful, it would be one of the largest foreign investments in the Asian frontier market and could boost foreign investor confidence in the communist government’s reforms planned for its state-owned enterprises.
Vietnam Beverage Co., a unit of Singapore-listed Thai Beverage PCL, has submitted a bid to acquire at least a 25% stake in state-owned Saigon Beer Alcohol Beverage Corp., known as Sabeco, according to a statement from Vietnam’s Ministry of Industry and Trade on Tuesday.
In its statement, the ministry said that, as of Monday, Vietnam Beverage was the “one investor registered” to buy a large volume for Sabeco’s share.
Thai Bev is owned by billionaire Charoen Sirivadhanabhakdi. The tycoon has been on an acquisition spree in recent years, buying stakes in companies from hypermarkets to milk producers.
By P.R. Venkat, http://www.foxbusiness.com/features/2017/12/13/saigon-beer-draws-thai-bidder-wsj.html
Two Sun Group resorts were honored at the 24th World Travel Awards (WTA) 2017 in Phu Quoc Island on December 10.
Two resorts in Vietnam’s popular beach destinations Da Nang and Phu Quoc won top prizes at the 24th World Travel Awards on Sunday as voted for by experts and executives in the resort and hospitality field from more than 140 countries and territories.
In Phu Quoc Island, the JW Marriott Phu Quoc Emerald Bay Resort won the World’s Leading New Resort 2017.
Its Chanterelle – Spa also won the World’s Best New Resort Spa 2017 award.
Up north in Da Nang, the InterContinental Da Nang Sun Peninsula Resort in the namesake central resort town set an unprecedented record in the history of the World Travel Awards (WTA) by being honored as the World’s Leading Luxury Resort for the fourth consecutive time.
The Da Nang resort beat more than 30 outstanding nominees to claim the award, including Four Seasons Resort Dubai at Jumeirah Beach, Ritz Carlton Laguna Niguel and Ayada Maldives. The number of contestants in the category was nearly three times higher than last year, making the victory a resounding success.
Its La Maison 1888 Restaurant also received the World’s Leading Fine Dining Hotel Restaurant award and its Harnn Heritage Spa was crowned Asia’s Best Resort Spa 2017 and Vietnam’s Best Resort Spa 2017.
Graham Cooke, WTA president and founder, said that honoring a resort as the world’s most luxurious for fourth consecutive year is unprecedented event in the history of the WTA’s 24 years.
The InterContinental Da Nang Sun Peninsula Resort has set a record that is unlikely to ever be broken, even in the years to come, he said.
Dang Minh Truong, Vice Chairman of the Board of Directors cum General Director of Sun Group, expressed his pride at winnning the top two awards – considered the “Oscars” of the global travel industry. He added the awards would inspire Sun Group to continue to create high-class buildings that contribute to the development of Vietnam’s tourism industry.
Sitting on Son Tra Peninsula, the InterContinental Da Nang Sun Peninsula Resort was designed by world famous architect Bill Bensley with 200 rooms featuring typical Vietnamese architectural and cultural values. The resort hosted the 2017 APEC Economic Leaders’ Week last November.
The JW Marriott Phu Quoc Emerald Bay Resort, which opened in January 2017 on Vietnam’s biggest island, is another Bensley design, inspired by the legend of a fictional former university for French colonists – Lamarck University, with 240 rooms and villas, as well as interior decorations arranged as a miniature museum of more than 5,000 antiques that Bensley collected from 40 European countries.
The World Travel Awards is held every year and considered the most prestigious, comprehensive and sought after awards program in the global travel and tourism industry.
Stronger domestic demand and robust export-oriented manufacturing are driving Vietnam’s economy.
The World Bank (WB) has increased its growth forecast for Vietnam this year from the 6.3 percent it projected in October to 6.7 percent, matching the government’s annual target following steady progress during the first nine months.
Stronger domestic demand, robust export-oriented manufacturing and a gradual recovery of the agricultural sector are driving Vietnam’s economy, according to Taking Stock, the World Bank’s bi-annual economic report released on Monday.
The manufacturing and services sectors respectively grew by 12.8 percent and 7.3 percent between January and September, the report said.
“Growth momentum picked up across major economies and global trade recovered in 2017,” said Ousmane Dione, World Bank Country Director for Vietnam. “With incomes rising and poverty falling, Vietnam’s economy had another good year of strong growth and broad macroeconomic stability.”
Vietnam expects economic growth of 6.5-6.7 percent next year, and thinks that the target of 6.7 percent set for this year is within reach, Prime Minister Nguyen Xuan Phuc said at a recent session of the legislative National Assembly.
Low inflation and rising wages sustained buoyant domestic demand and private consumption, while the stronger global economy has helped Vietnam’s export-oriented manufacturing and agricultural sectors.
Job growth has continued, with 1.6 million new jobs added in the manufacturing sector over the past three years, and 700,000 additional jobs in the construction, retail, and hospitality sectors, leading to higher aggregate labor productivity.
Despite progress in resolving non-performing loans, risks remain, including the lack of robust capital buffers in some banks, especially amidst rapid credit growth.
Fiscal tightening is underway, according to the report, and has led to a leaner budget deficit and containment of public debt accumulation. However, the decline in public investment – falling to 16 percent of total spending in the first nine months of 2017 compared with an average of 25 percent in recent years – may not be sustainable over time, as Vietnam needs significant investment in infrastructure to support future growth.
A slow-down in structural reforms could also impact the ongoing recovery, especially given the weaker growth in investment. Enhancing macroeconomic resilience and structural reforms could lift Vietnam’s growth potential over the medium term.
“Structural reform remains a central priority in view of tepid productivity growth,” said Sebastian Eckardt, the World Bank Lead Economist for Vietnam.
“Building on progress already made, Vietnam can further lift productivity growth through investments in needed infrastructure and skills as well as deeper reforms of the business environment, state-owned enterprise (SOE) and banking sector.”
Over the medium term, growth is projected to stabilize at around 6.5 percent, while inflation is projected to remain low.
The auction of up to 54 percent of Sabeco worth at least $5 billion is set for December 18.
A unit of Thai Beverage (TBEV.SI) has emerged as the only prospective bidder for state-owned shares in Sabeco (SAB.HM) that has declared that it could lead to it owning 25 percent or more of Vietnam’s biggest brewer, the Trade Ministry said on Monday.
The auction of up to 54 percent of Sabeco worth at least $5 billion, in what is set to be Vietnam’s biggest privatization, offers brewers access to a fast-growing market with a youthful population and beer drinking culture.
Investors who want shares that would lead to an ownership of 25 percent or more in Sabeco have to inform the local authorities and publicize the information a week before the auction date, which is set for December 18, according to the rules of the offer.
Other brewing groups including Anheuser-Busch InBev and Kirin Holdings have been preparing to bid for a stake, people familiar with the matter have said.
But the trade ministry said in a statement on its website that as of 1100 GMT on Monday the one prospective investor which has registered an interest in buying 25 percent or more of Sabeco that has publicized the information is Vietnam Beverage Company Limited.
Vietnam Beverage Company Limited is owned by Vietnam F&B Alliance Investment Company, which is 49-percent owned by BeerCo Limited, an indirect but wholly-owned subsidiary of Thai Beverage, official documents about the companies showed.
Foreign ownership in Sabeco is limited to 49 percent. That means overseas bidders can only bid for a minority stake of as much as 39 percent as foreign entities already own 10 percent.
Lack of control and the unorthodox way in which the Sabeco stake is being sold could put off some possible bidders, bankers, investors and lawyers familiar with the matter said.
The Vietnam trade ministry, which represents state shares in Sabeco, said foreign investors can link up with Vietnamese firms to buy shares in Sabeco, but have to comply with local laws and regulations.
The country has been pushing for the E5 mixture as ethanol can be produced from cassava, making it renewable.
Vietnam’s biggest fuel distributors said they would complete a shift to an ethanol-blended product by Friday as part of a government program to promote a more eco-friendly fuel.
State-owned PetroVietnam Oil Corp (PV Oil), which sells oil and fuels, will replace RON 92 fuel at all of its fuel stations with E5, a mixture of 95 percent of RON 92 and 5 percent of ethanol, by December 15, its parent firm PetroVietnam said on its website on Monday.
Top fuel importer and distributor Petrolimex said on its website last week that its 2,400 stations across the country would have shifted to the ethanol-blended fuel by the end of this week.
Vietnam has been pushing for the E5 mixture as ethanol can be produced from cassava, making it renewable. Several factories have been set up specifically to process cassava into ethanol.
But critics and drivers argue the mixture could cause fire or damage vehicles’ engines and parts. The government has said the mixture is safe, adding that drivers should use vehicles from a certain year of production, depending on the model, to ensure they are safe.
Another type of non-ethanol fuel, RON 95, is still on sale, but in smaller volumes.
Vietnam plans to complete the shift to the E5 mixer across all fuel stations by January 1 next year.
150 duck, chicken and pork samples contained levels of the dangerous bacterium beyond the national safety limits.
Sweeping food hygiene tests in Saigon and four neighboring provinces revealed that all the samples of meat taken contained excessive amounts of the highly dangerous bacterium E. coli.
The research team took 150 duck, chicken and pork samples as well as 147 samples of bivalvia mollusks including clams and oysters from markets in the city and its neighbors Ba Ria-Vung Vau, Binh Duong, Binh Phuoc and Dong Nai between April and August this year.
They found the E. coli levels exceeded the national safety limit in all the meat samples and 64 percent of the clam samples.
The team from the Pasteur Institute in Saigon revealed the results at a recent conference, saying the tests demonstrate a massive threat from fresh and raw food sold at wet markets in the region.
They suggested that the whole supply chain from the slaughterhouses to the processors and vendors has poor hygiene protocols, and that authorities need to enhance surveillance of these practices.
Consumers are advised to cook their food thoroughly to reduce the risk of infection, they said.
E. coli is a rod-shaped, coliform bacterium of the genus Escherichia that is commonly found in the lower intestine of warm-blooded organisms. Most E. coli strains are harmless, but virulent strains can cause serious food poisoning, urinary tract infections, neonatal meningitis or hemorrhagic colitis.
Food safety is a national concern in Vietnam.
Official government data showed food poisoning killed 22 people and hospitalized 3,147 others in the first 11 months this year, almost twice the figure from a year ago.
When the love and passion for music goes wrong, karaoke at max volume can become an instrument of torture.
VnExpress received a letter on Tuesday from a man at his wit’s end over a karaoke dispute with his neighbor that has led to his wife being threatened for asking for the volume to be turned down a notch or two.
“My child has to study while my wife and I need to rest after we finish work,” Le Thanh Tung wrote in his letter, “but our neighbors have been singing on the microphone from 6 to 10 every night for more than a year now.”
“We just can’t stand the noise any longer.”
His wife asked the neighbors to turn the volume down, but that led to threats of violence, with the neighbors arguing that they can sing however they want before 10 p.m.
On Monday, Son Huynh, another reader, related to a similar story of how his neighbors’ karaoke sessions are “torturing” his family.
It turns out that the two men are not the only ones suffering from the problem in Saigon, Vietnam’s biggest city now packed with 6,200 people per square kilometer.
Fair enough, many people love music and singing their favorite songs, and it’s true that listening to a good voice at a reasonable level can be a treat. But when the love and passion for music goes wrong, karaoke at max volume can become an instrument of torture.
Commenting on these stories, many VnExpress readers said they have experienced the same kind of “noise pollution” created by karaoke sessions around their apartments for years, but still have no solutions to the situation because the law says only those making noise in residential areas after 10 p.m. are considered to be violating regulations.
Lots of readers said there is no way the miserable listeners will be able to convince their neighbors to stop the show or turn down the volume, so they suggested the two authors fight back with louder speakers. Some said the method has already worked for them, and their neighbors had given up when the decibels were ramped up.
This solution received applause from many readers, who said it might be the best choice because it’s difficult to get the authorities involved.
Thanh Hung said he realized the local authorities would not help him when they told him to either move or try to endure the noise. Hung said when he tried to report the matter to higher authorities, officials in his commune even disciplined him for damaging their reputation.
They did ask his neighbors to turn the music down, but the peace was short-lived and life returned to normal in the neighborhood after just three weeks, according to Hung.
Just last weekend, a big fight broke out after a man asked a group of workers near his home in the city’s Binh Tan District to turn down their karaoke speakers.
The argument quickly escalated and both men and women attacked one another with weapons, causing serious injuries on both sides.
The bloody aftermath of the fight has set alarm bells ringing among people who love to entertain themselves at the expense of their neighbors.
In Vietnam, noise pollution has become a serious threat.
A study conducted by the Institute of Occupational Health and the Environment in July found that out of the 52 million people working in Vietnam, between 10 million to 15 million have to deal with excessive noise.
Noise levels on 12 major streets and junctions in Hanoi were measured at between 77.8 and 78.1 decibels during the day, way beyond the safe level of 70, according to the study. The average noise level at night also exceeded limits by 20-40 percent, it said.
In HCMC, eight out of 14 spots also violated acceptable levels, according to measurements recorded in June.
The problem is even worse in industrial zones, officials said.
Doan Ngoc Hai, the director of the institute, said that noise pollution can have long-term impacts, such as loss of hearing. It can also lead to sleeping disorders and high blood pressure, while children can suffer cognitive impairment, he said.
Vietnamese Generation Z grew up during an economic boom, does it justify their ‘urge to splurge’?
Young Vietnamese, especially those born from the mid-1990s, or Generation Z, prefer to spend rather than save, unlike their older generations who are known to be thrifty.
A recent poll of 16,000 respondents in Vietnam’s three biggest cities – Hanoi, Da Nang and Ho Chi Minh City – by Decision Lab showed that Vietnam’s Generation Z, which accounts for 15 percent of a population of roughly 93 million, spend on average VND890,000 ($40) a month eating out.
The HCMC-based market research firm said 56 percent of respondents earned no money or made less than VND3 million ($132) per month, and only 35 percent of them made between VND3 million and VND7.5 million a month.
Fast food restaurants were the most frequented diners, making up 25 percent of the venues of choice, followed by roadside restaurants with 18 percent and convenience stores with 17 percent.
Bubble tea is the queen of drinks, compared to coffee and alcoholic drinks that were preferred by older generations.
In a recent interview with VnExpress International, a group of four 19-year olds who meet up everyday in cafés defended their lifestyle, saying in Hanoi where public spaces are scarce, it’s the best way to maintain their friendship, which is “invaluable.”
One member of the group, Trung Hieu, put it bluntly: “I don’t think bubble tea is expensive. I only need to work for two hours to pay for it.”
The older generations see it differently. To them, it’s wasteful because a cup of bubble tea costs VND50,000-60,000, twice that of a typical office lunch.
Such contrast in perspectives could be explained by differences in the economic and social contexts of their upbringing.
Those born from the late 1970s to the early 1990s, grew up in a transitionary period when traditional Confucian values still largely shaped lifestyles and moral standards. These were tough times economically and belt-tightening was part of life, even a worthy “trait”. This generation was also the first to access the internet and western cultures and ideals.
But those born from the mid 1990s onward have welcomed a strong cultural wave that carried the concepts of freedom, individuality and right to indulge along with an economic boom.
The “bubble tea” generation “feel they are part of this booming wealth, more so than in the earlier days of austerity,” said Phan Tuong Yen, a psychologist at Hoa Sen University in Ho Chi Minh City. “Therefore, the notion of freedom between these two generations somewhat differs, and so does the concept of cautious spending.”
Also, psychologist say teenagers and twenty-somethings have always wanted to prove themselves through talent, character or social status.
“A decade ago, hip hop, Converse shoes and smartphones were considered cool,” said Yen. “Today, it’s the experience you get from fancy services.”
But is Generation Z crossing the line of what is acceptable level of spending? Are they taking sufficient responsibility over how they spend their money?
Let us know by casting your vote and leaving a comment.
There are few obvious things to do in Saigon at Christmas, largely because Christmas just isn’t as big a deal here as it is in the Western world. This is hardly surprising given the relatively low population of Christians in Vietnam compared to the population as a whole, and while the West drives itself slightly insane with Christmas shopping frenzies and Christmas pudding cooking, Vietnam tends to be no more crazy than it is all year round.
But this doesn’t mean that Christmas isn’t celebrated at all. The Vietnamese are always ready to have fun, and Christmas is a great chance to get outside and celebrate! Saigon lights up at Christmas time with thousands of string lights and Christmas decorations, and the city fills with hundreds of people who are reveling in the chance to be festive.
So how can you best enjoy this Christmas excitement?
1. Embrace Your Inner Tourist
Christmas Eve and Christmas Day are two days of the year when being a shameless, photo-taking, gawking tourist is not only acceptable but almost mandatory.
Ho Chi Minh City is beautiful at this time of year, bedecked with strings of lights and dazzling banners, and dotted with the occasional gaudy santa or glaring Christmas tree. It can be hard to tell which decorations are for Christmas and which are for Tet, but at the end of the day it doesn’t really matter!
Christmas Day, like Halloween and all other Western celebrations, tends to bring masses of congestion to the already-bustling Saigon, so walking is the best option. Get outside with your camera, or just your eyes, and join the city in being happy.
2. Be Romantic on the River
Ho Chi Minh City is beautiful all year round, with its endlessly buzzing streets and thousands of twinkling lights, but during the festive season the city comes alive with decorations. However, sometimes the streets can be a little overwhelming!
Why not get away from the bustle of the city streets and onto the ancient, lazy Saigon River? The river itself, though definitely not as clear and blue as it once was, is a beautiful reminder of Saigon’s past and present, and a romantic cruise on one of Artisan Cruises luxurious barges is a great standpoint from which to watch the city in all its finery.
3. Sit in the Sky and Watch the Ants
Another way to get into Saigon’s Christmas festivities without getting lost under the feet of revellers is to sit at one of the city’s many rooftop bars and watch the ants. From the famous Chill Skybar and its incredible panoramic views to the homely rooftop at The View on Bui Vien, rooftop bars in general provide a great angle for watching people with a cool drink in hand. Check out for our piece on Saigon’s 11 best rooftop bars for a great selection this December!
4. Take me to Church
Christmas is a time for lights, smiles, family and merriment with communities all round the world, but for Christians it holds a whole other significance. The beautiful Notre Dame Cathedral in District 1 is a well-known historical icon of Ho Chi Minh City, but it is also a functioning Catholic Church and every Christmas it holds truly special services for its Christian congregation. For insight into Christianity in Saigon, or for a glimpse of the peaceful, religious side of this international celebration, visit the Saigon Notre Dame Cathedral this Christmas.
5. Indulge in Glorious Cake
As a previous French colony, Vietnam is known for its delicious French-influenced baked goods, of which the Bûche de Noël is a Christmas favourite. Why not buy yourself something sweet to enjoy with family and friends while you marvel at how two such different cultures could have been brought so very close?
6. Let me Take a Selfie
I saw a motorbike yesterday with two parents and one small child, all wearing matching, bright red and white santa costumes, hooning around District 1. This made me think – what if we all dressed up and took selfies? Selfies are ridiculously popular among the young Saigonese, as I’m sure you are aware, and dressing up is equally as popular! Join the slightly embarrassing Saigonese festivities this Christmas and slap on your red santa hat, or just find someone in a santa suit and ask them for a picture.
7. Escape!
Is Ho Chi Minh City too busy for you at Christmas time? Do you crave the beach, the sea, and nice cool glass of something that screams ‘I-am-classy-and-very-relaxed!’? Well, why not get away to beautiful Nha Trang this Christmas for a long weekend on the soft sand of Nha Trang Beach.
Luxurious Novotel Hotel Nha Trang is holding a range of special offers this December from their delicious Christmas buffet and drinks to a range of discount packages at the hotel. Stay with Novotel at famous Nha Trang Beach this festive season, relax in the shade, eat your fill and watch the sun fall behind the deep East Sea.
8. Take a Dip
Keen for a bit of a getaway but looking for something closer to home? Van Thanh Pool in Binh Thanh District, nestled in the palm of a beautiful quiet park and with an only VND60,000 entry, is a great place to relax this Christmas. A resort style pool, the deckchairs and palm trees are surrounded by green lawns and a random collection of karaoke booths, restaurants, art galleries and other miscellaneous attractions that are seriously wonderful, simply because they highlight how bizarre Saigon really is.
9. Get Local
Finally, why not make some friends this Christmas? Park 23/9 in District 1 is known for its gaggles of students looking to practise their english with native speakers. They roam the park, pouncing on unsuspecting foreigners, and often end up making friends with their victims and taking them for a beer. If you are a native speaker, go to the park this Christmas and wait for a group of festive students to befriend, before wandering off to the backpacker strip for a ridiculous amount of laughter, beers and dried squid.
Registration procedures to set up a company in Vietnam have been simplified by authorities, but still be not easy. If you are not well-prepared, you cannot avoid problems when establishing and running business. Following are some basic steps to set up business in Vietnam that may help you.
Step 1: Information preparation
This step helps you reduce errors and lessen the time you spend on later registration process. There are some issues needed to consider before you set up company in Vietnam.
Choose the type of business entity. According to the Law on Enterprises, there are four common types of business entities at present: private enterprises, joint stock companies, partnerships, limited liability companies (multi-member limited liability companies and single-member limited liability companies). This decision plays an important role in making or breaking your business ideas in practice. Therefore, try consulting experts before you make decision. The number of members (shareholders) varies according to the kind of business. Based on that number, company owners prepare notarized copies of IDs or visas.
Choose the name for your company. The name should be short, easy to remember and pronounce. It is not allowed to resemble other companies’ names which are available. Learn more information about available companies’ names at “National business registration portal”.
In addition to type of business entity and company name, other issues you need to prepare carefully before you set up business in Vietnam are: choosing the office place, determining authorized capital for your business, selecting a title for company’s representative in law and choosing a legal industry to register.
Step 2: Registration process
After having prepared all the information needed to set up company in Vietnam, you can initiate to compile documents in accordance with Article 20 of Government Decree No. 43/2010/ND-CP (15 April 2010) on enterprise registration. Then, submit those documents at local business registration office (Article 25 of Decree 43). Submission can be done by the representative in law or an authorized representative as long as you have a power of attorney. If your application files are approved, you will receive business registration certificate after 5 working days.
Step 3: Make a company seal
Making a company seal is one of important steps when you set up business in Vietnam. Bring a copy of business registration certificate to seal-maker agency to make a stamp for your company. Then, the stamp will be sent to local police to verify and return to your company. Remember to bring along business registration certificate (original) and ID when you come to police station to get the stamp.
Step 4: Post-registration procedures
There are still several procedures needed to complete after having business registration certificate if you want to set up company in Vietnam successfully.
Register tax reports not only at local tax office as the time required but also online through digital signature service in accordance with Law No. 21/2012/QH13 on amending and supplementing a number of articles of the law on tax administration.
“Publish in the network of information on enterprises of the business registration body or a written or electronic newspaper” (Article 28 of Law on Enterprises)
Submit reports and pay business license tax (form 01/MBAI enclosed with Circular No. 156/2013/TT-BTC dated 06 Nov 2013 of the Ministry of Finance).
Lodge notification to apply VAT calculation methods (form 06/MBAI enclosed with Circular No. 156/2013/TT-BTC dated 06 Nov 2013 of the Ministry of Finance)
Buy, create, self-printed invoices in accordance with Circular No. 39/2014/TT-BTC dated 01 June 2014.
Any questions or support need, contact GBS – a Business & Legal Services company for foreign investor in Vietnam at
A common sight along many Saigon roads is that of a tire hanging from a tree branch, pole, or fire hydrant, along with a rustic air compressor prominently displayed on the sidewalk. These street-side repair ‘shops’ have been serving local drivers on their daily rides in the city for years.
Huy, a 33-year-old migrant living in Saigon for the last three years, was riding his ramshackle motorbike to work on a cool morning in December, when suddenly he heard a popping sound, like that of an exploded balloon.
The effect was immediate, and his wheel began to malfunction. However, remaining calm, Huy knew he could just ask around for the nearest roadside repairman.
Statistics from the Ho Chi Minh City Department of Transport reveal that in March 2017, there were 7.3 million motorbikes in the city.
Data from the General Statistics Office of Vietnam shows that the city’s official population in 2016 was 8.3 million, which translates to 87 motorbikes per 100 city residents.
A rustic compressor by the roadside in Ho Chi Minh City, November 30, 2017. Photo: Tien Bui/Tuoi Tre News
Well aware of the potential market, amateur repairmen have taken it upon themselves to ‘set up shop’ on busy sidewalks and at crowded crossroads, with their compact toolkits readily at hand.
Making it a career choice attainable to most is the fact that it does not cost an arm and a leg to invest in the basic equipment, as problems along the roads are relatively minor.
The most common services and replacements are of tires, spark plugs, oil and brakes. Bike parts are generally only purchased on request.
Not all repairmen have their own air compressor though. Prices vary by volume, and may range anywhere from US$140 to $250 for 35-liter to 100-liter versions, according to a search by Tuoi Tre News online.
A flat tire gets pumped for about 10 U.S. cents, meaning it takes 1,500-2,000 flat tires to break even on the investment.
How to qualify?
To become a motorbike repairman or woman, there is formal schooling available in vocational colleges, which offer four-month intensive courses for around $200.
A rustic compressor by the roadside in Ho Chi Minh City, November 30, 2017. Photo: Tien Bui/Tuoi Tre News
Such programs immerse learners deeply in the mechanics of motorbikes, issuing certificates recognized in Vietnam upon graduation.
However, as Tuoi Tre News understands, formal training directs those wishing to work in the industry toward registered premises or opening their own business.
Solving basic bike problems on the street does not call for much education.
Very little mechanics is actually required, as most often knowledge of compressors and the ability to fix a flat tire quickly will suffice.
One serviceman on Nguyen Huu Cau Street in District 1 said: “While I’m busy, it’s DIY for customers if they need a pump. It’s really simple: just take the tip of this hose and press it gently against the valve. A piece of cake!”
Wrong-doers
It has been reported that some repairmen overcharge customers, especially on rainy evenings or along empty streets.
Instead of 22 U.S. cents for a puncture, drivers might be forced to cover 10 times that cost. One way to avoid this trick is to agree on the price beforehand.
A brand-new tire resting on a fire hydrant, with servicemen off duty behind in Ho Chi Minh City, November 30, 2017. Photo: Tien Bui/Tuoi Tre News
Worse still, the unscrupulous have reportedly been damaging tires on the job and demanding payments for extra repairs.
Additionally, as it has been frequently covered in local media, some have even spread nails on roads, knowing all too well that a victim will drop by in no time.
Obviously, bike quality and endurance have improved thanks to state-of-the-art technology, which reduces the need for servicing on a regular basis.
But just as the roadside repairmen appeared 50 years ago when the first Honda hit Saigon, these men and women will continue to enjoy the job as long as the motorbike lives on in the city.
To make their decision on where to eat out, these internet-savvy post-millennials still prefer word of mouth to online tips.
Vietnamese youngsters born between 1995 and 2002, or Generation Z, have emerged as potential consumers for dining brands, according to new market research that found they are willing to spend a big chunk of their budgets on eating out, regardless of how much money they make.
Generation Z, also known as Post-Millennials, the iGeneration, Founders, Plurals, or the Homeland Generation, is the demographic cohort following the Millennials.
A recent poll of 16,000 respondents in Vietnam’s three biggest cities – Hanoi, Da Nang and Ho Chi Minh City – by Decision Lab showed that Vietnam’s Generation Z, which accounts for 15 percent of a population of roughly 93 million, spend on average VND890,000 ($40) a month eating out.
Vietnam’s average annual income was around $2,200 last year.
The HCMC-based market research firm said 56 percent of respondents earned no money or made less than VND3 million ($132) per month, and only 35 percent of them made between VND3 million and VND7.5 million a month.
Unlike the previous generations who had their meals at home and at a fixed time, the new generation uses food services outside their homes at any time, the research found.
Interestingly, this internet-savvy generation say they do not trust advertisements, online feedback or recommendations from celebrities, and are much more interested in advice from their families to make their choice on where to eat out.
In the third quarter alone, the respondents dined out 133 million times.
Fast food restaurants were the most frequented diners, making up 25 percent of the venues of choice, followed by roadside restaurants with 18 percent and convenience stores with 17 percent.
Bubble tea is the queen of drinks, compared to coffee and alcoholic drinks that were preferred by older generations.
On a typical morning, 15.6 percent of respondents said they drank milk tea, 12.5 percent said fresh milk and 12.1 percent said coffee with milk.
Decision Lab predicts that milk tea will continue to be the beverage of choice in the future.
Urban Vietnamese have recently found themselves at the center of online criticism over their “wasteful spending habits” because they are willing to spend VND50,000-60,000 on a cup of bubble tea and do so several times a week.
The cost is claimed to be twice that of a typical office lunch in a country where the average annual income is expected to reach $2,400 this year.
The majority of comments criticizing the “wasteful spending” came from young people who had been working for quite a while, aged from 28-40. Those who defended these habits were mostly aged from 18-25, or young people with high incomes.
The former, born from the late 1970s to the early 1990s, grew up in a transitionary period when traditional Confucian values still largely shaped lifestyles and moral standards. These were tough times economically and belt-tightening was part of life, even a worthy “trait”. This generation was also the first to access the internet and western cultures and ideals.
“What we see here is an interesting generational gap, but not the gap between parents/grandparents and their children,” Phan Tuong Yen, a psychology lecturer at Hoa Sen University in Saigon, told VnExpress International in October. “It’s much closer than that and it’s clearly a conflict of personal values.”
It’s those born from the mid 1990s onward who have welcomed a strong cultural wave that carried the concepts of freedom, individuality and right to indulge along with an economic boom.
The bubble tea generation “feel they are part of this booming wealth, more so than in the earlier days of austerity,” said Yen.
“Therefore, the notion of freedom between these two generations somewhat differs, and so does the concept of cautious spending.”
