So you’ve decided to work in Vietnam and are now in the planning stages of your big move. Congratulations! Working and living in Vietnam is always an enriching experience. You have a lot of things to look forward to. But, before you book your plane ticket and pack your luggage, there are quite a few things you’ll need to know about the Vietnam work environment, how this change affects your career, and much more…
1. The basic thing you need to know about Vietnam
With a population of 95 million people and long rich history, Vietnam is located on the Indochina peninsula, bordered by China, Laos, Cambodia, and the South China Sea with a beautiful coastline that stretches up to 3,444 km long.
On the banks of the Red River lies the ancient capital Hanoi, It’s the second-largest city in Vietnam and has years since become popular for its century-old architecture, traditional neighborhoods, and scenic parks with influences from China, Russia, and old France…
And in the south of Vietnam, Ho Chi Minh city is truly a mix of old and new. In recent years, the city has become a popular destination for both tourists and foreigners who want to start a new career, or just want to change their work environment.
2. How about business culture and social customs in Vietnam?
To prepare the right mindset before working in Vietnam is it so important to understand the local business culture as it is often a way of showing respect to others. Vietnam has a strictly hierarchical structure in both business and social settings, important decisions are always made from the top and mostly by the oldest person.
Usually, you can call your co-workers by their title and in the social settings of your friends by their age ranking. But this not only the case, there are many factors such as your current occupation, education, age, and even family-ties influence your status in business as well as in society.
3. How about Vietnam’s economy?
Vietnam has made a remarkable jump over the past 30 years, from one of the poorest countries to a lower-middle-income country. In just 12 years, Vietnam’s GDP rose from 45 billion USD to 205 billion USD, and the poverty rate declined significantly to 7% in 2015, thanks to the productive ability of the Vietnam workforce.
With a stable macro-economy and increased domestic GDP, the country achieved its economic growth target of 6.7% in 2017, which is the highest rate in 10 years. In the following years, Vietnam will focus more on infrastructure, agriculture, information technology, and some other high-tech industry. Not only that, but Vietnam also is the owner of the 4th largest oil reserve in the Asia Pacific. This made the country one of the largest oil producers in Southeast Asia. Despite being still a lower-middle-income country, future economic prospects remain positive for the country. Which makes Vietnam – together with the low living costs – an attractive place for the foreigner who wants to change their work environment or who is finding a way to become more productive.
4. Living cost in Vietnam is quite cheap
Depending on your budget, but you can spend as low as 250 USD to 700 USD per month for the basics like food, transportation,… In Vietnam, you can eat meals for as cheap as 2 dollars. Those common groceries such as rice, eggs, fruit, and vegetables can be easily found for under 2 dollars as well.
And about the accommodation, you can find a great place for as low as 400 USD to +1000 USD per month. That price depending on your location, your budget, and preference.
Vietnam now becomes a much more attractive place to live than ever, especially when the wave of foreign investors continuing investing in Vietnam because of the US-China trade war. So definitely, you will have a more productive and better career in Vietnam.
TSC – Engineer Software Staffing Agency in Vietnam
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