How to be happy and successful in Vietnam?

Estimated reading time: 6 minutes

Most expatriates or corporations settling then quitting Vietnam had a short lived ‘marriage’ due to high expectations and quick Return on Investment.

It reminds me of a best -seller book- Men Are from Mars, Women Are from Venus where both want to be happy but the means and the language leads to continuous misunderstanding and arguments, contrary to the goal of happiness.

We will try to analyze your expectations, your partner’s (Vietnam) expectation and an attempted path-to-go to reach your goals. 

To do so, we approach 4 aspects of the relationship to grow -as suggested by Stephen Covey in his book 7-habits of successful people: 

• physical resources
• intellectual 
• social 
• spiritual

Physical resources needed for living in Vietnam

When it comes to living and being happy in a foreign country, especially in Vietnam, it is important to have realistic expectations and to approach the experience with an open mind and a willingness to learn and adapt. High expectations and quick Return on Investment are common pitfalls that can lead to disappointment and even failure for expatriates or corporations settling in Vietnam. The key to success is to have a good understanding of your own expectations and priorities, as well as those of your host country.

One of the first things to consider is the physical resources available in Vietnam. The country is still developing and may not have the same level of infrastructure, knowledge, and culture as your reference country. This means that it is important to be patient and to allow for a slower pace of growth and development.

Intellectual resources to being happy in Vietnam

In terms of intellectual resources, it is important to be aware of the differences in education and culture in Vietnam. The country has a rich history and strong cultural traditions, but is also open to modern foreign influence. This means that it is possible to find a balance between respecting traditional values and adapting to new ways of thinking and doing things.

Another important aspect of living in Vietnam is social stability. Family is a very important part of Vietnamese culture and this can have a significant impact on the way of life and the priorities of the people. It is important to be mindful of this and to be respectful of the values and traditions of the local people.

Business development and growth

In terms of business development and growth, it is important to understand the priorities of the country and to approach these with a long-term perspective. Vietnam is a country with a lot of potential, but also with some challenges. An average sustainable growth of 7% is possible, but it will take time, patience, and a willingness to learn and adapt to the local culture and way of doing things.

One of the biggest obstacles to doing business in Vietnam is the fact that the business management education system does not place a strong emphasis on ethics and integrity. This means that there is a higher risk of corruption and unethical behavior, which can have negative impacts on the local business community and the economy as a whole.

For expatriates and corporations settling in Vietnam, it is important to be aware of this lack of ethics in the business culture and to take steps to mitigate the risk of unethical behavior. This might involve working with local partners who have a strong commitment to ethical business practices, or taking steps to educate and train employees on the importance of ethical behavior.

At the same time, the lack of ethics in the business management education system also presents an opportunity for expatriates and corporations to make a positive impact on the local business community. By setting a strong example and promoting ethical business practices, it is possible to help to raise the standards of business ethics in the country and to encourage others to follow suit. This can lead to a more stable and sustainable business environment in the long-term, which is good for everyone involved.

The lack of ethics in the business management education system in Vietnam is a challenge that should not be taken lightly. However, with careful planning and a strong commitment to ethical behavior, it is possible to overcome this challenge and to make a positive impact on the local business community. This will help to promote the development of a more ethical business culture in the country, which is good for the economy, the local community, and for expatriates and corporations settling in Vietnam.

Setting up a business in Vietnam

Finally, it is important to remember that settling in a foreign country and setting up a business can be a challenging process, but it can also be a very rewarding experience. The key is to be patient, to have realistic expectations, and to be willing to learn and adapt. By approaching the experience with a positive attitude and a willingness to grow and develop, it is possible to achieve success and to enjoy a better quality of life in Vietnam.

All in all, living in Vietnam with low expectations and a willingness to learn and adapt can be a very fulfilling experience. It is important to be mindful of the physical, intellectual, social, and spiritual aspects of the country and to approach the experience with an open mind and a positive attitude. By doing so, it is possible to achieve success and to enjoy a better quality of life in Vietnam.

Resources

VietnamNet Media Group – This online news source provides up-to-date information on business and economic developments in Vietnam, including reports on corruption and unethical business practices.

The Asia Foundation – This non-profit organization provides research and analysis on economic and political developments in Asia, including in-depth reports on corruption and ethical issues in the Vietnamese business community.

Transparency International – This global anti-corruption organization provides a wealth of information and resources on corruption and unethical business practices, including country-specific information on Vietnam.

The World Bank – The World Bank provides in-depth analysis and reports on the economic and political developments in Vietnam, including information on corruption and ethical issues in the business community.

The Vietnam Chamber of Commerce and Industry – This national business organization provides information and resources on doing business in Vietnam, including information on ethical business practices and corruption.

The US Department of State – The US Department of State provides official reports on the economic and political situation in Vietnam, including information on corruption and unethical business practices in the business community.

The Vietnam Business Forum – This online forum provides a platform for discussion and exchange of information on business and economic developments in Vietnam, including information on ethical business practices and corruption.

The International Centre for Trade and Sustainable Development – This international organization provides information and analysis on trade and sustainable development, including information on corruption and ethical issues in the Vietnamese business community.

By accessing these resources, expatriates and corporations settling in Vietnam can gain a better understanding of the challenges and opportunities related to the lack of ethics in the business management system in the country. This will help them to make informed decisions and to promote the development of a more ethical business culture in the country.