FX Excursions

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Ho Chi Minh City Revs Up For Business Success

Nov 30, 2014
2014 / November 2014

They’re buzzing darting, swerving … they’re everywhere. The streets of Ho Chi Minh City are a moving sea of them, and everyone, but everyone, from babes in arms to crepe paper-skinned grandparents, rides them. These are Vietnam’s ubiquitous motorbikes, and it’s said the city alone has as many as 2 million.

In Ho Chi Minh City (formerly Saigon), the largest city in Vietnam, visitors encounter an absolute hubbub of activity and a veritable feast for the senses. Sidewalks overflow with local women in conical hats cooking up exotically aromatic soups and stews over tiny burners. Shops sell everything from European designer clothes to kitschy souvenirs and knock-off watches. Construction rises everywhere and, of course, there’s the traffic.

As the economic center of Vietnam, Ho Chi Minh City accounts for a large proportion of the country’s economy. Industries include mining, seafood processing, agriculture, construction, tourism, finance, industry and trade. It boasts multiple industrial parks; more than 50 banks with hundreds of branches; and Vietnam’s first stock exchange, which opened in 2001.

Vietnam’s business climate is favorable for Americans. The Vietnamese people are eager to work with Americans and have them invest in their economy. And the potential for economic and financial growth appeals to American businesses as well. However, given the cultural differences between the two countries, you need to keep some things in mind when doing business in Vietnam.

Vietnamese business etiquette tends to be somewhat conservative. Men are usually expected to wear business suits in darker colors with a tie and a white shirt. Women have a little more leeway, but whatever they wear, it should be conservative. Form-fitting or sleeveless clothes are not appropriate.

Expect to be welcomed with a handshake, the most common form of greeting. It’s best to initially address professionals by their title and last name and to hand out business cards, which should be exchanged with both hands.

Punctuality ranks high, so be on time for all appointments. Because the Vietnamese are not always as rapid-fire at meetings as Americans, long pauses are common. It is considered rude to interrupt another colleague, so energy-powered Americans should take a deep breath and quell the urge to fill the silence.

Vietnamese business professionals will be impressed by American counterparts who know something about their country. It never hurts to do a little homework before the first business meeting.

While local businesspeople often ride on motorbikes, most foreigners get to business meetings by taxis, which are both plentiful and reasonably priced.

This brings up one of the first things to address on a first-time visit to Ho Chi Minh City — how to cross the street. Between the masses of motorbikes and the lack of stop lights or stop signs, crossing a street can run the gamut from challenging to terrifying. I know a strapping 6-foot, 2-inch-tall man who says his way of dealing with this problem is to cross with an elderly Vietnamese woman, based on the theory she’s managed to survive until a ripe old age without getting run over. The more traditional method, however, takes a fair amount of nerve and a leap of faith initially, but it does work. Step off the curb and start walking. Look straight ahead, not to the left or right; do not stop, and don’t vary your pace. Hard to believe, but somehow the motorbikes buzz around you without, miraculously, hitting you.

Ho Chi Minh City offers a plethora of hotels to accommodate the business traveler, with more being built at a rapid rate. Most business travelers choose to stay near the city center, the location of the lion’s share of businesses. With the location determined, it’s a matter of budget and amenities.

A fairly recent addition to Ho Chi Minh City’s luxury hotel scene, the Sheraton Saigon Hotel & Towers lies in a prime location between the river and the Opera House. The executive level features a tri-level lounge with stunning city views, workstations, food and drink throughout the day and a private check-in and check-out desk.

Breakfast on the balcony at Hotel Majestic © Nigel Spiers | Dreamstime.com

Breakfast on the balcony at Hotel Majestic © Nigel Spiers | Dreamstime.com

Hotel Majestic reigns as a Ho Chi Minh City institution, with French colonial architecture dating back to 1925. Though modernized, it keeps its former grandeur and glamour with spacious suites, hardwood floors and European-style furnishings. Corporate facilities include a business center, meeting spaces and free WiFi throughout, and there’s no place in town as beguiling for an evening drink as the rooftop bar overlooking the Saigon River.

Caravelle Hotel, built in 1959, fell into disrepair during the war. However, thanks to a full renovation in the late 1990s, today’s guests enjoy a chic, award-winning, 5-star property. Its Saigon Saigon Bar, one of the city’s hottest evening venues, boasts spectacular views, live entertainment and happy-hour prices from 4 p.m. to 8 p.m. Special enticements for the business traveler include WiFi throughout, a business center and meeting rooms.

Ho Chi Minh City’s abundance of restaurants serves all types of cuisine. You’ll find the French influence in the bistros around town, as well as in the fresh baguettes in cafés and bakeries. Vietnamese food choices include everything from street food to elegant restaurants, so the only problem when planning a business lunch or dinner is deciding what kind of food and atmosphere most appeal.

Famous food personality Anthony Bourdain said, “What Bobby doesn’t know about Southeast Asian food is not worth knowing.” Pretty high praise for the celebrity chef whose Restaurant Bobby Chinn offers a relaxed but elegant atmosphere and innovative food from 7 a.m. to 2 a.m.

At the classy Vietnamese restaurant Hoi An, the interior makes a relaxing refuge from the frenetic pace of the city. An excellent place for a quiet business lunch or dinner, dishes include hot and spicy seafood soup served in a coconut, and grilled shrimp in banana leaves. The restaurant features live music in the form of a Vietnamese harp guitar player.

For an upscale business lunch, head to the popular and impressive Square One at the Park Hyatt Saigon. The restaurant boasts five dining rooms, all with different themes, and an outdoor terrace. Square One serves both Vietnamese and Western cuisine. Meat is grilled Western-style, while seafood features in the more traditional Vietnamese dishes.

Read more about Ho Chi Minh City’s motorbikes.

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