ARTICLE 3: ASIA’S BEST BUSINESS SPOTS.
Vietnam is found to be the safest place for expatriate business leaders to reside and work, even as it is among the region’s most stressful and the most risky nations for developing and growing an investment project. That is the conclusion from reading three recent surveys about doing business in Asia. We know Vietnam well and have good reason to support its potential. We also know how difficult it is for others to see.
Reading the tea leaves has not ever been more difficult for investors. When assessing Vietnam, our almost 9 year experience shows that few outsiders fully appreciate the opportunities present.
Sadly, few people within Vietnam have clear vision either. The Expatriate community is geared towards their own employer’s or their own personal bottom line. The result is a view that is often more harsh or Pollyannaish as their corporate empires and careers are built upon and either swell or retract to their own success or failures, and not the nation’s.
Private, domestic investors are burdened with Vietnam’s 2,000-year history of invasion, flight, and loss to the point where few are able to see any tomorrow. This fuels their “living for today” syndrome. Few attempt to forge tight business ties to foreign communities, thinking it is best to take as much as they can “today” as any tomorrow remains questionable or problematic.
State owned companies are little better, mouthing the new buzz words that free enterprise is good, but yet unable to move from the Party line that demands all profits to the State. In shrinking but yet prevalent quarters remains the notion that foreign investors are invaders, or at best interlopers. To these few but powerful, the future of the nation’s foreign investor community be dammed, as they suffer from the same “live for today” syndrome, want only to retain their own power base, and hold Vietnam back from being closer to being a good, much more a best, business spot in region.
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