Starting a Business in Vietnam with Quang Nguyen, Co-founder & Managing Director of VNIS Vietnam
Quang, please introduce yourself …
I am Quang Nguyen, Co-founder and Managing Director of VNIS Vietnam, based in Hanoi, Vietnam. We work to provide students with international education solutions and international institutions with their Vietnamese recruitment.
What’s the story behind creating VNIS?
Recent years have witnessed an increasing number of Vietnamese students studying at international institutions and these numbers are expected to only continue rising.
As more and more students become interested in foreign educational excellence, theres also a growing need for trusted information on application requirements, financial aid etc.
This need has given VNIS Vietnam the opportunity to bring forth our expertise to help.
What are the primary challenges of running a business in Vietnam?
To run a business in Vietnam, the first step you have to take is to go through several start-up procedures, acquiring permits for example, which is rather more troublesome for educational service providers. After that, earning people’s trust is as important to VNIS Vietnam as to any other business.
What advice can you share with entrepreneurs wanting to start or expand their business into Vietnam?
Vietnam is still on its way to a market-oriented economy, which means the door is widely open and opportunities are for entrepreneurs to seize.
For foreign investors, local help should be among the top items of your check list. Legislation and market research can be a burden without local assistance.
What are the strengths and weaknesses of the local work force in Vietnam?
Vietnamese workers are devoted, hard-working, smart, and very adaptive, which will make up for their lack of knowledge and skills, if any, in the long term.
What’s the best way to find and hire exceptionally smart and talented workers in Vietnam?
If employers can’t pay a lot for excellent employees, I suggest they reach out to as many higher education institutions as possible.
Students with potential will have exceptional portfolios even though they have not finished their study.
However, to hire smart and talented workers and to get the best out of them are two different tasks. From my experience, the latter is much more difficult but beneficial.
Beside education, what business opportunities do you see emerging in Vietnam right now?
As I mentioned, there are a lot of opportunities to do business in Vietnam at the moment.
Service businesses, including education, catering, consultancy, etc, appears to be growing rapidly despite global issues stemming from the recent financial crisis.
What’s next for VNIS?
We hope to become one of the most trusted addresses in Vietnam for educators, schools, students and anyone interested in studying overseas.
We hope to expand our business to all three regions of Vietnam in the next three years and we aim to open our very own language school in addition to what we are doing now.
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