U.S. companies preparing to enter the Vietnamese market must plan strategically, and be persistent and consistent with face-to-face follow-ups. It can take up to one or two years to make a successful sale into this market.
For the most part, U.S. companies entering the Vietnamese market will need to consider two marketing efforts; One for targeting the northern part of the country, which has a higher concentration of government ministries and regulatory agencies, and one for the south, which is the dominant industry hub.
To enter or expand in Vietnam, U.S. businesses may do so indirectly through the appointment of an agent or distributor. U.S. companies new to Vietnam should conduct sufficient due diligence on potential local agents/distributors to ensure they possess the requisite permits, facilities, manpower and capital. Firms seeking a direct presence in Vietnam should establish a commercial operation utilizing the following options: First, a representative office license; second, a branch license; And lastly, a foreign investment project license under Vietnam's revised Foreign Investment Law.
Vietnam expects to disburse about $3 billion in untied ODA (Official Development Assistance) funding annually from 2011-2015. Sectors prioritized for ODA funding are primarily in infrastructure construction and modernization and human resource development. U.S. companies doing business in transportation, telecommunications, energy, environmental water, civil aviation, financial services and other infrastructure sectors are advised to develop core strategies and capabilities for bidding on ODA (World Bank, Asian Development Bank, USAID) projects.
Source: U.S. & Foreign Commercial Service And U.S. Department Of State, 2014.