COUNTRY RESEARCH PAPER
Vietnam forms a 1000-mile long “S” shaped country, from the mountains North and Red River delta a narrow belt leads to the fertile southern Mekong delta. Their deltas are some of the most densely populated parts of the world, which also provide abundant food for the nation. Vietnam is also often described as a country with a bamboo pole and rice basket on each end (Viet Nam, 2007). (In thousands)
According to Vietnams demographic profile 2011, Vietnam has a population of 90,549,390 and a population growth rate of 1.096% estimated as of July 2011. The population growth rate has always been fluctuating and was the highest in 2004 (1.3%). Vietnams estimated life expectancy at birth on the basis of total population is 72.18 years, which is slightly lower compared to China’s life expectancy at birth, which is 74.68 years and higher compared to India’s life expectancy at birth, which is 66.8 years. Vietnams life expectancy rate is higher than the average life expectancy rate in the world, which is 69.2 years making it a favorable place to live in compared to several other countries in the world. The birth rate of Vietnam is 17.07 births per 1000 (2011 est.), the average birth rate for the world is 19.95 per year per 1000 total population. The death rate of Vietnam is 5.96 deaths per thousand (2011 est.). Compared to India’s birth rate of 20.97 births per thousand Vietnams birth rate is lower. India’s death rate is 7.48 deaths per thousand, which is high again if compared to Vietnams birth rate of 5.96 deaths per thousand. Thus Vietnam has a favorable death and birth rate (Vietnam Demographics Profile, 2011). Implications of doing business:
Being strategically and centrally located near China, India, Indonesia and having access to the Pacific ports Vietnam’s location provides it with a great potential to boost exports and help improve its integration with other major countries around the world. Vietnam has demonstrated a strong commitment towards education and human resource development. The literacy rate of Vietnam is an astonishing 93.7 % providing highest quality labor relative to cost of any country in the world. Vietnams has great tourist potential, which can be a valuable source of foreign exchange (Vietnam-Future Trends, 2011). With a high literacy rate Vietnam produces a skilled labor that are capable of performing high skilled jobs helping to provide high quality products that stand well in the global market. CULTURE OF VIETNAM
Vietnamese culture is still unknown in countries around the world. Culture basically indicates the taste of music, food, clothing, festivals and sports of a particular region. Vietnam is different when it comes to clothing as people wear a special garment knows as “Ao Dai” on special occasions such as a wedding. It is white in color and was earlier worn by both the genders but these days’ only females (Robbers, 2007). There are a few elements that are considered to be characteristic to Vietnamese culture such as respect to family and elders, devotion to study and manual labor. The symbols related to Vietnamese culture include dragons, turtles, lotuses and bamboo (Phan, 2005). Implications of conducting business in different cultures:
Cross-cultural differences have an impact on all kinds of business interactions. People in different countries have a different way of presenting themselves. Culture influences thoughts and people belonging to different cultures have different opinions about different things leading to conflicts amongst people working in the same international business. Perceptions of voice, personal physical details, and assumptions based on environment and context differ between different cultures around the world. LEGAL AND POLITICAL ENVIRONMENT OF VIETNAM
Vietnam’s political systems would have to be defined as a totalitarian government. The current Government in command in Vietnam is...
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