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TIPS for dealing with Vietnamese partners
Careful preparation: It is necessary that you prepare as much as possible when you still in your home country. Try to conduct market research, learn about the country, the marketplace and identify local representatives and target companies for contact. It is very important for you to study about the Vietnam's legal framework especially Law on foreign investment. The application process to establish a local brand can be time-consuming. Companies that are not ready to establish a permanent base in Vietnam should consider hiring a local representative to perform support services, open new doors and monitor any ongoing processes. In addition, you should learn a few worlds of the local language especially the world you will have to use regularly such as ''xin chao''= ''Hello'', '' cam on' = '' thank you''.
Introductions: When initiating contact with a Vietnamese entity, it is often best to be introduced by a third party who has close relation with Vietnamese partner. An introduction from a mutual friend, acquaintance or know business associate can raise Vietnamese partner's belief in you and help to push your operation smoothly. If you can not have a third party introduce, self-introductions should start with an explanation of why you want to contact him or her and how she or he relate to you.
Name: Vietnamese names begin with the family name, followed by the middle name and finally the given name. Vietnamese call each other by their given names. You should address your contacts as Mr., Mrs., Ms or Miss followed by their given name.
Correspondences: A formal and brief letter on introducing yourself, your company and objectives in Vietnamese market may be useful for your first contact with a potential Vietnamese partner. Your correspondence should end with pleasantries and invitation to continue relationship. If it is possible you should write a letter in Vietnamese because a letter in foreign language may make Vietnamese readers uncomfortable.
Business Meetings: Establishing operations or making sales in Vietnam entail a large number of meetings because face - to - face discussions are favored over telephone calls or letters.
Seating arrangements: Seating for a meeting is generally 'us versus them' across a conference table with the principal interlocutors in the center and directly across from each other. Other participants are generally arranged in a hierarchy on the right and left. Generally, the farther one is from the center of the table, the less important one is. The common arrangement for business meeting is with the principals seated facing each other at the middle of the table with their advisors and interpreters at their sides. .Sometimes the meeting will take place in a formal meeting room where there are chairs arranged in a 'U' pattern. The principals will take their seats in the two chairs at the base of the 'U' with other participants arranging themselves in rank order along the sides of the 'U'.
Using interpreters: Visitors using interpreters can either rotate their interpreters to protect against the interpreter developing a rapport and gaining commission from the other party, or to maintain the same interpreter for meetings with the same people. This second option demonstrates continuity and loyalty but also gives the interpreter time to become accustomed to the visitors speech and topics, improving the quality of the translation. There are good sources of professional and experienced translators from different consulting firms in Vieynam. It is important to always address the person with whom you are meeting, not the interpreter, and while the Vietnamese party are talking, to nod and smile to show attention. Do not interrupt the Vietnamese party, as this will make life difficult for their interpreter and is also considered to be impolite. Speak in short phrases and pause, so as not to lose the interpreter.
Business hour: Business Hours: During the weekdays, business hours are typically 8:00 a.m. to 5:00 p.m. with a one-hour lunch break.
Business Attire: Normal business attire consists of a suit and tie for men and suit or dress for women. During the hotter months, formal dress for men is a shirt and tie. Open collar shirts and slacks may be worn to more informal meetings depending on the situation. The trend in the South is to be more casual; suit jackets are worn only on very formal occasions and first meetings
Exchange cards: Business meetings often open with an exchange of cards and shaking of hands. It has become quite common for both men and women to shake hands. Usually, the most senior member will be the one who extends his/her hand first. To show respect to high-ranking officials, the investor should lightly grasp the hand of the officials, the investor should shake the hand of the official with both of his or hers. It is not customary to kiss Vietnamese on cheeks or ladies' hands as a form of greeting. Business cards are often exchanged at this point and should be handed to all those attending the meeting as it is often difficult to discern who are the important players and who will play what role in the future. Generally, a business card should be handed to the most senior member first, and should be presented with two hands to important officials. By reading the host's card carefully, a visitor shows respect and clarifies the position of the person to which they are talking, so they are generally treated with respect.
Posture at meeting: A visitor should not be too aggressive, but not compliant either. Investors should clearly state their position, firmly but politely using the correct degree of respect. Be open and honest and explain clearly any foreseeable problems. The visitor should bear in mind that the posture of the Vietnamese may not indicate their level of interest, rather their positive attitude may just be a sign of courtesy. A visitor must be attentive of their body language in Vietnam. A crossing of the legs with a foot pointing towards the other party is considered impolite. Crossing arms or hands on hips also carries negative connotations and indicating to a person with a finger or touching the head of a Vietnamese is seen as being rude. It is very important for the visitor not to rush to a discussion of the issues they came to talk about. It is polite to wait for the Vietnamese party to bring up the matter. While waiting for this, it is best to talk about the economy, how much you are enjoying your trip to Vietnam and how pleased you are to meet them. This time is well spent with the visitor introducing themselves and their company, as the Vietnamese are often reluctant to commit to anything until they know a little about what and who they are dealing with.
The meeting leader: The "meeting leader" should be sure to allow adequate time for discussion and end the meeting at the appropriate time in order to attend the following meeting. It is therefore important not to plan meetings too close to each other as they often run overtime.
Closure of a meeting: As a good host, the Vietnamese party will seldom initiate the closure of a meeting. It is instead, expected that the visitor will respect the time limit for the appointment and signals a close for discussions. Failure to do so can cause embarrassment to the host. It is customary at the end of a meeting for both parties to stand up and shake hands. As with many other Asian countries, understanding the concept of saving face is essential to effective negotiations and management in Vietnam. It is especially important not to make a Vietnamese lose face in front of others. Offering indirect advice or solutions is far more effective than direct criticism as this is considered quite severe. When a problem does arise, it is important to go to the relevant party, to point out the problem and to offer some potential solutions. This allows the relevant party to weigh up the fairness of the solutions and resolve the issue more quickly. When proposing, a visitor might also suggest a variety of ways to structure the deal, so as to reduce the time necessary for the other party to decide on the right approach. The smile in Vietnam can also cause misunderstanding. While the Vietnamese smile at things in the same way as other nations smile, there are also subtleties in the meanings. An example of this may be lack of understanding. When the Vietnamese do not understand, they will not tell the visitor this to save face, they will instead smile. If this occurs, the visitor should apologize for not making themselves clear and attempt to explain in a different way. Another way to interpret a smile is nervousness or irritation. It is unacceptable to show anger in Vietnam so a visitor can interpret this as an "I'm sorry, forgive me'' or a ''take it easy, it's nothing serious''. Once the visitor understands that a smile can be used to convey a variety of meanings other than happiness, it is usual that they become used to recognizing the subtleties behind them.
Negotiation:
The most important quality in negotiations with Vietnamese is patience.
Outward displays of anger are interpreted as a sign of personal weakness, and will invariably be met with a stony response and increased resistance in negotiations.
You should focus on transaction details as well as cultural factors. More often than not, this means price, as the formative Vietnamese market is extremely price-conscious.
Vietnamese buyers have a preference for stable and well-proven products, turnkey solutions, and a strong reliance and expectation on the supplier to provide after-sales service support.
Do not feel compelled to fill silences that may occur during business negotiations. Being silent is particularly useful if the Vietnamese have made an unreasonable demand or proposal.
The pace of negotiations may be slower than expected with informal conversation at the beginning of the meeting.
As business decisions are not usually made during an initial meeting, it is often beneficial to send a written proposal well before the meeting if an immediate response is required.
Negotiations will usually continue after an agreement is executed. Have your lawyer operate behind the scenes rather than taking part in the negotiations as most Vietnamese companies prefer a less legalistic approach to negotiations.
Business entertainment:
Eating and drinking are a major part of doing business in Vietnam. Dinners with local agents and customers help to develop networks and give the local agent 'face'.
Vietnamese men often smoke during the meal.
Toasting at banquets and after-dinner activities such as singing are common practices. When cognac or whisky is served at a meal, the custom is for individuals to drink only after a toast is made. The glass should be held in the right hand supported by the left. Returning a toast is standard practice. Common toasts are 'Tram phan tram ('chum fun chum' = empty your glass - 100 per cent) and 'Chuc Suc Khoe' ('chook sook hue' = good health).
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