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How to Invest Successfully in Vietnam

Vietnam is a new and emerging market which offers many opportunities to investors. However, being successful in doing business in Vietnam is not easy if you do not understand the market well. Basing on experience and lessons from those successful establishment business in Vietnam, there are some very useful advices for whoever intends to start business in Vietnam.

Promote brand awareness and corporate image worldwide

Vietnamese often prefer famous brands than non-famous ones. Almost all successful foreign investors in Vietnam have already owned strong brand name in other countries. Starbuck; KFC; Canon; Samsung are typical examples. Therefore, the first suggestion for investment in Vietnam is building good business in your country, then let Vietnamese know your brand name before representing it in the market.

 Understand customer needs and respond proactively

Vietnam is famous for being a very potential market with the population of over 90 million. Vietnamese customers are different from other markets, since they have different interests, habits or even different payment methods. In order to attract customers, you have to respond proactively to adapt with local customers and market.

Be different

Difference makes success. If you want to compete and win other competitors, you shall surpass them by creating unique products and services. That is the best way to stand out from the competitions.

Develop and extend network business alliance

Network is the key success factor in the mutual and globalized market. The more networks you build, the more success you get.

In summary, there are some key advice which you need to consider before deciding to penetrate into Vietnam market including: managing in-depth information, reviewing your main goals, and finally, understanding about the social and environmental protecting responsibility .

 

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