Must-know business etiquette in Vietnam – Tips for doing business in Vietnam

Vietnam boasts of anancient culture. Vietnamese people love their country, and they are proud of their cultural norms. Vietnamese society has very distinctive characteristics
and complexities. In the 1980s, a renovation policy was introduced, and since
then, the country has gone through many changes. The transition into a market
economy has improved the standard of living in Vietnam. Foreign investors now
look at Vietnam as a potential hunting ground for investment opportunities.

Vietnamese business environment

The business environment draws heavily from the local culture. People are very conservative.Societal hierarchy is very much at play here. Elders are respected and loved;
the most senior person in an organization is often the oldest. The country
provides businesspeople with ample accommodation. Hotels in Vietnam Ho Chi Minh – the likes of PARKROYAL Saigon, for example – create an apt setting for investors and entrepreneurs. Someone looking to invest in Vietnam has plenty of opportunities, the country is eager to grow and improve its prospects, and therefore, foreign investment is highly valued.

Greetings and language

A lot of people in the corporate sector speaks English, but Vietnamese is the dominant language. While you are under no pressure to learn the local language, an attempt to do so would be appreciated; you are off to a good start if you greet your Vietnamese business partner in the local language. A handshake followed by a slight bow is the standard form of greeting here. After a verbal exchange, it is normal for a Vietnamese person to be silent for a
while. This means that they are deliberating what you’ve said to them.

Meetings

It’s best to hire a translator when conducting a meeting. A
translator can help you avoid confusion. Keep in mind that business meetings
should be arranged in advance. You need to let the other party know that
there’s a meeting; this should be done at least two weeks in advance. Upon
arrival at the meeting venue, you’ll be offered a beverage as a welcome;
accepting it would be the polite thing to do.

Business cards

Like in every other country, exchanging business cards is an
important gesture in Vietnam. When offering your business card, do it with both
hands and follow the same rule when accepting business cards. After receiving
the business card, take a second to look at it; stuffing it away immediately is
rude, and it tells the other party that you are not really interested. While
it’s not a must, it would be better if you could have your cards printed in
both English and Vietnamese.

The concept of face

This is a common concept in Asia. Losing one’s face is
considered extremely embarrassing, and therefore, you shouldn’t cause your
business partner to lose face. Disagreements in public are not encouraged.
Arguing can cause a Vietnamese person to lose face. This doesn’t necessarily
mean that you are supposed to agree with everything they say; it only means that
you have to be subtle when communicating your disagreement. Also, being direct
is not a virtue in Vietnam. You don’t have to say yes at every turn, but use
very polite language when saying no.