Vietnam for Indians?

I recently traveled to Vietnam for a short 7 day business trip, 2 days in Hanoi and 5 days in Ho Chi Minh. While I was busy with many business meetings, I thought It would be good to add one more extra meeting with the Indian Business Chamber of Vietnam. The reason for this meeting with the business chamber was mainly to understand what Vietnam has for Indians.

As a first step, I pulled out the contact number of Incham Vietnam office from Google. Ms.Thanh from the Incham office very politely answered my call, and patiently heard me out. Upon my request to meet someone top level at the Incham Vietnam office, she requested to send an email and assured me she would get back to me within the same day. As promised by Ms.Thanh, she reverted back to me early in the morning the next day, wanting to confirm my meeting with Mr.Alok Bharti from the Incham Vietnam office. This clearly shows how efficiently the Incham Vietnam office operates.

11 November, 10.30am I was at Incham Vietnam office located in a very posh and high end commercial complex in Binh Tanh District .I was very well received and greeted by the Incham Vietnam office team. Ms.Thanh was also present, I first went straight to her and thanked her for being so humble, kind and prompt in arranging my meeting with the top office bearer of Incham Vietnam.

Around 11am, I met Mr.Alok Bharti in the main conference room of the Incham Vietnam office. Mr.Bharti walked in with a big smile and a very graceful personality. Alok Bharti is currently serving as BOG- Industry in incham Vietnam. His professional techno commercial career in Textile Industry is more than 25 Years. Serving as Business Head for Sudima Vietnam, a multi-national company covering a range from Raw material, yarns, and Pre Owned machinery sales in the Textile industry. Alok has vast experience in Production, Marketing and Management with a global network covering Asia , Europe, Central & South American markets.

Alok has served in India, East Africa, Indonesia, Singapore and currently living in Vietnam for the last seven years.

We started our chat discussing various topics related to business, events and living for Indians in Ho Chi Min City (HCMC) and Vietnam.  Here I would like to summarise in a point wise fashion, the key points.

1) There are approx 8000-10,000 Indians living in HCMC and more in Hanoi Vietnam.

2) Mainly the Indian expat community is in the Pharma, Coffee and IT industry.

3) Indian Yoga teachers are in big demand in Ho Chi Minh City, and there are over 800-1000 yoga teachers just in HCMC.

All Yoga teachers easily make nearly 1000-2500 US Dollars per month depending on their skills, network, fame and student profiles.

4) Indian food business with restaurants and take away joints are also in demand and picking up very much.

5) There are about 12-18 flights per week between India and Veitnam.

6) Any foreigner marrying a local Vietnamese by default needs to share 50% of all his/her assets upon legal separation.

7) As a foreigner you can open your own business or own a land in Vietnam, as a foreigner you can also be a shareholder in a Vietnamese company.

8) As a foreigner, you can buy property but land can be brought only if company is opened in Vietnam either can be a foreign company or subsidiary company

9) Agricultural land value is going to be appreciated in Vietnam by 50-60% within a span of 4-8 years. So this is the right time to invest money in real estate or agricultural land in Vietnam.

10) Skilled manpower cost in Vietnam is around 20-30% higher compared to India. Labour work manpower cost is also higher when compared to India.

11) In Vietnam there are many Buddhist maximum, small Christian and ethnic/minority groups.

12) Incham Vietnam organized many Indian events every year and recently they had a big Diwali Gala event where they invited indian singer Aditya Narayan.

13) Since Yoga is a very big thing in Vietnam, every year the Incham will organize a big Yoga event. At this event over 80% attendees are non-Indians.

14) India brings a lot of tourism revenue, culture, Yoga and tourists to Vietnam, so Indians are always looked up with respect and honor in Vietnam.

I was very delighted and happy to get so many inputs and information from Mr.Bharti about Vietnam in general and about Indians living here. We chatted for a good 1 hour. I thanked Mr.Bharti for his valuable time given to me.

If you happen to visit Ho Chi Minh City, and need any information, contacts and networking with the Indian community living in Vietnam, please feel free to get in touch with the Incham Vietnam office as per below :

INCHAM

A few tips in general for a good Ho Chi Minh City business or leisure trip :

1) Dont do Money Exchange at the airport or anywhere near your hotel.  Go straight to Ben Thanh Market and ask anyone where the money exchange shops are, and anyone will give you the directions to reach there. Their exchange rates are the best. You are looking at a difference of about 20-30%.

2) Download the Grab App on your phone before you land in Vietnam. It’s the best for food and travel by bike or car. Uber won’t work there.

3) Grab bikes are really the best and cheapest way to move around in the HCMC.

4) If you are a pure vegetarian don’t forget to visit Chay 365, www.chay365.vn

5) Credit cards are accepted everywhere including small shops, but still carry enough cash. Drinks at good bars and restaurants are pricey, however food, travel and accommodation is very reasonable.