Culture and History

Vietnamese Company Bags IATA Award

Jun. 10 – The Vietnam Air Navigation Services Corporation (VANSCORP) was awarded the International Air Transport Association’s (IATA) Eagle Award for the Most Improved Air Navigation Service Providers (ANSP) during the 65th IATA Annual General Meeting held in Kuala Lumpur, Malaysia last Monday.

“VANSCORP has improved greatly in its 15-year history characterized by a strong culture of reliability, efficiency and customer orientation. In addition to maintaining strong relationships with its airline customers, VANSCORP also takes an active role in regional initiatives,” IATA’s Director General Giovanni Bisignani said in a press release.

The firm also upgraded to modern technology in compliance with the ICAO Roadmap for Air Traffic Communication, Navigation and Surveillance.

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New Deal Brings Serious Money to Vietnamese Soccer

Jun. 5 – In signs that commercial sport is increasing in value in Vietnam, Haiphong Cement FC, who play in the country’s 14 club senior V-League, have just signed former World Cup winning Brazilian superstar Denilson, once the world’s most expensive player.

Denilson, who broke the world record transfer fee when Real Betis paid Sao Paulo US$32 million for his services, was a World Cup winner with Brazil in 2002. The 31-year-old’s contract with Haiphong is said to be between US$600,000 to US$750,000 over the year. Continue reading →

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Vietnam Taking Precautionary Measures Against Swine Flu

Apr. 28 – At the recommendation of health experts, Vietnam has established precautionary measures to protect itself from the spreading H1N1 strain of swine flu virus currently affecting people in Mexico and the Unites States.

The country’s disease-control agencies are on high alert and travelers entering the country are required to declare the current status of their health, according to the Deputy Minister of Health Trinh Quang Huan.
Head of Vietnam’s Preventative Health Bureau, Nguyen Huy Nga, has said that the swine flu virus has the potential to spread rapidly and appears to be an amalgamation of the bird flu virus, human influenza, and a virus typically found in North America, Europe, and Asia.

Vietnam’s Preventative Health Bureau met with pandemic health experts on Sunday to discuss emergency measures in an effort to prevent and prepare for a possible spread of the virus; which there is not yet a vaccination for.

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Vietnam’s Stimulus Plan Dips into Emergency Reserves

Apr. 24 – A senior Finance Ministry official said that Vietnam will have to dip into national emergency funds to help pay for the country’s recent US$8 billion stimulus package.

Speaking at the Asia Society’s Asian Corporate Conference event in Ho Chi Minh City yesterday, Vietnam’s Vice Minister of Finance Do Hoang Anh Tuan said that these measures should not jeopardize Vietnam’s forecasted economic growth.

Mr. Tuan listed more assertive collection of backlogged corporate taxes by the government and the fact that the country currently has a small budget deficit as reasons to feel confident in the country’s macroeconomic stability.

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Chinese Workers Head to Vietnam

Mar. 31 – Chinese workers have been flooding Vietnam to work on huge Chinese industrial projects in the electricity, cement, building and chemical sectors.

One construction project located in Quang Ninh province has as much as 2,000 Chinese workers while using cement and electricity coming from Chinese companies.

Tran Ngoc Hung, president of Vietnam Construction Association, told AFP: "Chinese contractors have won numerous key projects in the electricity, cement, building and chemical sectors… and sent thousands of workers and equipment to Vietnam."

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Vietnam Mourns Death of Reformist Leader

June 16- The country held a public funeral Sunday to mourn the death of former Prime Minister Vo Van Kiet. He was the prime minister from 1991 to 1997 who led the nation’s economic reforms and supported normalization of ties with the United States. He was 85.

Kiet died last Wednesday in a hospital in Singapore, where he was taken following a stroke.

The government announced two days of mourning to honor Kiet with flags flying at half-mast.

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In Vietnam’s Las Vegas, Foreign Passports Required

June 12 – Vietnam will soon have its very first casino at the Ho Tram Strip resort in southern Vietnam. To be constructed at a cost of US$4.2 billion, the casino which will only be accessible to foreigners, is one of the largest investments in Vietnam's tourism infrastructure. The builders, Canadian-based Asian Coast Development, say that the casino will be part of a resort which will have two five star hotels.

Vietnam has become the most popular destination for the hospitality industry in south east Asia, as it offers the same climate and low cost conditions as neighboring Thailand or Indonesia, but is not yet saturated. This has spurred an impressive volume of infrastructure development and construction activities to cater to the country's newfound source of income. Continue reading →

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Saying Xin Chào: Business Etiquette in Vietnam

May 23 – It bodes well for those planning to do business in Vietnam to take the time to know how local culture conducts business deals to avoid any miscommunication.

As with most people in the world, the Vietnamese tend to be flattered when a foreigner makes the effort to learn even a simple phrase in their language. So take note to remember -xin chao (pronounced as seen chow)- meaning hello in Vietnamese.

While you may be forgiven for not knowing better in some cases, it’s always in your best interest to avoid offending the locals. Generally, Vietnam is influenced by Confucianism and shares more common business practices with China, Japan and Korea compared to its Southeast Asian neighbors.
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