Places to Retire in Vietnam

According to several reports published in magazines and newspapers, Vietnam is one of the best places to retire not only in Asia but in the world! Vietnam, along with Thailand and Malaysia is often counted as the most amazing place to spend the retirement years in. The criteria which is used to select the best places to retire include the reasonable cost of living, opportunities for growth and available physical and social activities etc.

Reasons for Retiring in Vietnam

The fact that a person can lead a comfortable life for $500 per month in this country makes it an affordable place to retire. In this price, you can get a nice house, decent food and enough entertainment. Another factor that adds to the suitability of Vietnam as a retiring destination is its climate. The climate of Vietnam is such that you do not need to add layers to your clothing.

One can suffice in a tee and shorts all year round. The hotter temperatures can be dealt with easily and there is no humidity in the air. The social life in this country is amazing and even for expats. If you want to find company, you will be able to do so very easily as the locals are friendly and helpful.

Best Places in Vietnam from the Retirement Points of View

The following is a list of the best places in Vietnam where one can retire comfortably:

Nha Trang

Kiplinger recently put Nha Trang at the 6^th position of the list of the best places to retire in Vietnam. Nha Trang is a beautiful city which offers a wonderful landscape, awesome climate and friendly locals. The fact that the cost of healthcare is low and there is a new and modern hospital opened up in this city recently makes it a good choice for many people looking to retire.

Additionally, the low food cost and a variety of food options like fresh fish, vegetables herbs and fruits adds to the suitability of Nha Trang as a retirement destination. Food here is cheap and therefore dining out too doesn’t cost heavily. Some other factors include cheap accommodation, cheap tours and beautiful beaches.

Hoi An

Hoi An is another beautiful place where one can retire and lead a peaceful and comfortable life. It has stunning architecture and a vibrant culture which attracts many people from across the world.

It is easy to live in Hoi An as it has a lovely climate all year round and consists of pristine beaches where you can enjoy the rest of your life at. The local people are friendly and the cost of living here is definitely under $1000. Moreover, Hoi An is a food paradise where sea food and vegetables are cheap and in abundance. Due to this reason, eating out doesn’t cost heavily and adds to its retirement possibilities for foreigners.

PhuQuoc

PhuQuoc is an island which lies in the very south of Vietnam and is an ideal destination to retire in Vietnam.

This place consists of wonderful beaches and one example of this is the Bao Sao. The cost of living at this island is quite affordable and this is one of the greatest reasons why one must consider this place of Vietnam as a retirement option. Seafood here is cheap and so is buying vegetables and fruits. So if you wish to retire at a place close to the beach and enjoy a relaxed lifestyle then PhuQuoc is surely a good choice.

Apart from these three places, there are several others in Vietnam which can be looked out for retirement. If you are not too tight on the budget then you can also consider the larger cities such as Hanoi, Ho Chi Minh City which are rich in terms of culture, entertaining places, restaurants, cinemas etc.

 Further information   

Risk Prevention in Vietnam

 Trade promotion in Vietnam

Fraud Management in Vietnam

Due diligence corporate investigations

Vietnam entry strategy

Vietnam market intelligence

 Business consultants in Vietnam

Read More

“Bun cha” of Hanoi

“Bun cha” is a signature dish of Hanoi people with special and delicious taste; it is certainly an indispensable dish for Hanoi cuisine lovers.

“Bun cha” is made with familiar ingredients such as noodles, pork, vegetables, fish sauce.

“Bun cha” with slices of grilled pork, grilled chopped pork, add a few pieces of green papaya, enjoy with raw vegetables and fish sauce. In some places, we can also enjoy “bun cha” with traditional spring rolls.

“Bun cha” of Hanoi is voted by CNN into the list of the world’s most delicious summer dish. Earlier, “bun cha” is also included in the list of 10 best street foods in Asia by CNN.

“Bun cha” is not only preferred by foreigners but also many generations of Vietnamese people enjoy it. “Bun cha” is the traditional dish of Vietnam.

Further information   

Risk Prevention in Vietnam

 Trade promotion in Vietnam

Fraud Management in Vietnam

Due diligence corporate investigations

Vietnam entry strategy

Vietnam market intelligence

 Business consultants in Vietnam

Read More

CONTRACTS SIGNED WHEN PRESIDENT OBAMA VISITS VIETNAM

There have been series of cooperation contracts that are signed between the AmCham (American Chamber of Commerce in Vietnam) members and Vietnam businessesafter the first day that President Barack Obama visits Vietnam.

On the trip to Vietnam of President Obama, AmCham and VCCI jointly organized the corporate event in Hanoi. At the event, the signing of agreements between member companies of AmCham and Vietnamese partners are took place.

In particular, the signing of treaties on climate change and clean energy includes 7 records:

– Memorandum of GE on the development of 1000MW of wind power: Estimated that in 2025, there will be 1,000 megawatts from wind power projects. With that capacity, wind power will be enough to supply for 1.8 million households in Vietnam over the next 10 years.

– Agreement on nuclear safety training: US will help Vietnam to train the human resources, equipped with the knowledge of nuclear procurement, design and build factories, licensing and safety checks of nuclear reactors in the future. At the same time, US experts will also advise about the effectiveness of this technology as well as economic benefits when developing.

– Memorandum of Understanding between the Vietnam Oil and Gas Group and Murph Oil Company: Murphy has participated in oil and gas exploration in Vietnam since 2012 and currently is cooperating to exploit gas in Nam Con Son. This memorandum will open up many opportunities for cooperation between the two sides in oil and gas, energy joint venture, accelerating the negotiation of the project in Tho Chu Island and many other contracts.

– Cooperation agreement of the solar energy projects between First Solar and Thien Tan: Thien Tan Investment and Construction Company have signed two major contracts to purchase solar panels worth 35 million USD to serve the solar photovoltaic plant, which has started construction since mid 2015. The plant has a capacity of 19.2 MW with total investment of 800 billion VND and is built on an area of 24 ha in Quang Ngai.

– Memorandum of Biomass Minnesota Plant: Tin Thanh Electricity Company cooperates with US businesses, negotiating the terms related to design and build of boiler biomass power. That helps saving of 10 – 20% electricity, reducing 200,000 tons of carbon each year.

Along with other agreements such as joint researching on lower Mekong, Memorandum of Understanding on climate change in the Mekong Delta…

The signing ceremony of the future investment projects includes the Memorandum of Understanding that The Grand Ho Tram Strip develops its 2nd hotel tower; Memorandum of Traffic Safety Program.

Accordingly, The Grand Ho Tram Strip has signed a Memorandum of Understanding with the Cotec Construction Joint Stock Company (CotecCons) on the expansion of The Grand Ho Tram Strip worth 75 million USD.

The construction of the 2^nd hotel tower with 559 rooms of The Grand Ho Tram Strip will be undertaken by CotecCons, bringing the total number of room of The Grand Ho Tram Strip to 1,100 rooms when completed.

After the completion of the hotel building, the actual total investment for the whole project has reached 1 billion USD.

In addition, in a memorandum on traffic safety program, the US will pour about 1 million USD to help Vietnam solving the challenges of traffic safety problems such as accidents, give helmets for citizens…

In the aviator industry, Vietjet Air (Vietnam) and Boeing (US) have signed contract worth 11.3 billion USD in the presence of President Tran Dai Quang and President Obama. With this contract, Vietjet Air will buy 100 Boeing 737 MAX 200 from Boeing.

Besides the contract signed with Boeing, Vietjet Air also signed contract with United Technologies Corp to buy engines for the aircrafts that Vietjet has signed and ordered with aircraft suppliers. The signed contracts worth up to 3.04 billion USD.

According to the executive director of the US Trade Association (AmCham), the visit of President Obama will further promote cooperation relations between the two countries in many fields; including economy, friendship between the two countries, security, human right, global and area issues of mutual interest.

The timing of the trip to Vietnam of President Obama has very important meaning because this is the time Parliament is preparing to consider ratification of the Trans-Pacific Partnership (TPP) at the end of this year.

AmCham believes that the TPP will bring many benefits and opportunities for companies, investors, workers, farmers and consumers in both the US and Vietnam. When fully deployed, the TPP will pave the way for the digital economy, strengthen the creative industries; contributing to a fair play ground for businesses and investors.

In addition, TPP will bring many important changes to the business environment in Vietnam and opens up many new opportunities, helping Vietnam to speed up in the industrialization, modernization and globalization process. This Agreement will help the private sector to have more opportunities to reach important markets, stimulating competition, attracting foreign investment and contributing to the construction of supply chain infrastructure; from that creates great opportunities for Vietnam enterprises, creating jobs and raise incomes for Vietnamese employees.

Further information   

Risk Prevention in Vietnam

 Trade promotion in Vietnam

Fraud Management in Vietnam

Due diligence corporate investigations

Vietnam entry strategy

Vietnam market intelligence

Read More

RISK MANAGEMENT: A VITAL ELEMENT WHEN DOING BUSINESS

Risk management is a vital element when doing business but so far, not many enterprises concern about it.

According to a recent survey with 522 companies, there are only 43 comanies, accounting for about 8%, have the independent risk management department in their business. More noteworthy, the majority of these 43 companies operating in the banking and financial sector, which has nothing new to risk management. In fact, not all banks have independent and effective risk management departments. The negative problems related to the banking system in recent times somewhat showed the picture about the risk management of this sector.

Risk is understood as any events and situations that could harmful to the ability to achieve the business objectives of the enterprise. Risk management is organized in a formal way and is conducted continuously to identify, control and report the risks that may affect the achievement of the business objectives of the enterprise.

So why businesses are not interested in risk management? Part of this problem stems from the awareness of the leaders. In order to build and operate the risk management system in the enterprise, it needs the commitment of the senior leaders. If senior leaders do not aware of this problem, the administration process will be difficult to achieve the desired effectiveness.

Recently, there are many theories and systems of risk management but small and medium enterprises should be cautious when apply because system and theory are just general and they should be adjusted when applying to each business.

In order to form the culture of risk management, the leaders must along with the employees to implement it regularly and for each project. In theory, the risk management process is carried out in 5 steps: identify risk; evaluate its impact; determine the likelihood; action and measures; monitoring and evaluation.

Further information   

RiskPrevention in Vietnam

 Trade promotion in Vietnam

Fraud Management in Vietnam

Due diligence corporate investigations

Vietnam entry strategy

Vietnam market intelligence

Read More

CORRECT UNDERSTANDING OF RISK MANAGEMENT

The concept of risk is not strange to businesses in particular and those who do business in general. “Doing businesses is taking the risk” became a popular saying of the business people, whether they are owners of large or small businesses.

Although business has to face with risk every day and every hour but risk management is relatively new concept, not many businesses have understanding about it. Therefore, the risk management activities of the business are often being conducted in a half-hearted way. Not many businesses, including large enterprises, have proper risk management departments in their organizational structure. Hence, the uncertainties and crises are usually occurs, causing negative effects and sometimes become disaster for the business.

There are always potential risks in any business environment, whether that environment is developed with clear and transparency rules, or that environment is primitive environment with many confusing and complicated. If the business environment is primitive with inexperienced entrepreneurs, there will be more risks. Risk can be derived from many factors in which the subjective factors may cause risk to occur more with more severe consequences, or vice versa, enterprise can stop the risk or significantly reduce its impact. This depends on the risk management capacity of organizations and businesses.

Risk management is the process of analyzing the environment (inside, outside) to identify, analyze, evaluate, classify, ranking and implementing appropriate solutions to respond to risks to eliminate or minimize the negative impacts that may have. In many cases, risk management includes identifying opportunities within the risk, in order to exploit, take advantage of them and bring benefits to compensate for the damages caused by the risk.

Risk management is different from risk control and risk handling. Risk control is the response activities for the risks that have been identified. Risk handling is dealing with risks and crisis after it has actually occurred. Risk management is the systematic activities, maintaining at every level and assigning to a specialized department.

Properly understand the nature and importance of risk management, business will definitely not hesitate in setting up a professional risk management system. An effective risk management system helps businesses to identify risks early (which are very diverse, extensive and constantly changing), evaluate the possibility to occur and the degree of harm to have effective response measures. Unfortunately, the subjectivity is still the characteristic of many businesses in the risky business environment.

ANT Consulting is here to assist you from the outset; providing corporate intelligence, risk advisory, management consulting services that assist market entrance, and ensure efficient business start-up operation.  Our services are as following:

• Market Entry
• Tax Advice
• Legal Advice
• Outsourcing Services

We strive to save your cost by guiding you towards economical solutions that comply with local legislation and procedures. We support you through early logistic solutions and carry you through as your business grows.  We aim to bridge the gap between international best practices and local cultures and assist foreign companies and organizations entering Vietnam market to overcome commercial and regulatory issues.

We could be reached at email: ant@antconsult.vn or tel: +848 3520 2779 .  To learn more about us, please visit www.antconsult.vn

Further information   

Risk Prevention in Vietnam

 Trade promotion in Vietnam

Fraud Management in Vietnam

Due diligence corporate investigations

Read More

BACKGROUND CHECK SERVICE IN VIETNAM

Vietnam is working on improving on the level of transparency. It is advisable that foreign investors take effort to learn about their partners before cooperating with them. In other words, it is important to understand an individual or enterprise before joining venture with them  in Vietnam so that  the investors may reduce the minimum risks that may occur as well as evaluating the possibility of cooperation in the future.

Fraud Management in Vietnam

• Research for records of enterprises or record of individuals in Vietnam;

• Research for the reputation of the company or individual who shall be your business partners in Vietnam;

• Research for the history of public information about the company or individual.

Background Check Service in Vietnam

Despite the high risks of fraud, there are good opportunities in Vietnam. Namely, at the present, Vietnam has been strongly attracting direct investment capital from foreign investors. This leads to the demands of investigation as above – mentioned.

If the investors ignore this step of investigation, they may take heavy consequences because of their subjective. It may be a loss of money, time, effort and reputation.

Normally, most of the investors investing in Vietnam for the first time are using survey results from third parties, that is, the companies specializing in the investigation of market information.

Because, first, when investing in a whole new market, the investors do not understand clearly about the investment environment as well as the operating subjects in this new market. If the investors conduct the investigations themselves, the result may be inaccurate and not objective.

Second, the investors can save time as well as money to focus on other professional activities. With a team of experienced professionals, the companies specializing in this investigation field have full of capacity to meet all requests from the investors. Besides, time for the investigation is quick, and the price shall be much cheaper than the cost that the investors use to do their own investigation.

Therefore, if you are going to invest in Vietnam, we recommend you to conduct a thorough Vietnam background check, which includes the followings:

Before an investor wishes to set-up a business venture in Vietnam, it is advised to learn about the market, the business partner in Vietnam.  Let ANT Consulting help your business. Please contact us via emailant@antconsult.vn or call our office number: +848 35202779 (HCMC) or +844 39388751 (Hanoi).

Further information

 Trade promotion in Vietnam

Fraud Management in Vietnam

Due diligence corporate investigations

Read More