Vietnam has accelerated its adoption of all things digital. Prime Minister Nguyen Xuan Phuc yesterday ordered the strengthening of the National Committee on E-Government. The Register lacks a native Vietnamese speaker so we’re working through online translate-o-tronic websites that suggest the revamped Committee wants to make …
Thursday 28th May 2020 10:48 GMT Triggerfish
Just to note, the e-visa hasn't just been restored its been expanded to about 80 countries, before this is was pretty much just the USA that could get a e-visa I believe (may have been Canada also). They also have been seeing manufacturing shift over from China before COVID and ratified a deal with the EU recently for trade.
POS transactions are common in most big shops and chains. It's the little places that they will struggle with, the small coffee houses, street vendors, and house run business and the like, and a fair bit of transactions are done this way. People still will shop down the market, or go to the lady selling veg who turns up with a basket and just hangs out at the side of a road. There is still a lot of shopping done in peoples houses for example a few years ago i bought an e-reader and the only shop that advertised it was actually someones flat in a tower block on a housing estate, this is not unusual. Vietnam is still very much a cash economy outside of big purchases, and also has a strong grey market economy going on for some goods.
Thursday 28th May 2020 14:12 GMT Anonymous Coward
Disclaimer: I'm invested in Vietnam.
@"the e-visa hasn't just been restored its been expanded to about 80 countries... before this is was pretty much just the USA"
That's not true, eVisa has always covered most countries, and AFAIK it no longer permits USA eVisas due to Covid 19. Here's the (old) list of countries it covered, note the disclaimer at the top saying its currently suspended for Covid infected countries:
Vietnam's biggest exports are Samsung handsets. Ikea also makes some furniture there. It's one of these developing economies held back by their leaders fears of losing power. They can see the benefits, but also have their own fears.
@"ratified a deal with the EU recently for trade"
Remember the trans-pacific-partnership? Well the USA pulled out, but the process went on without them. Vietnam is part. Thailand is discussing joining it.
@"POS transactions are common in most big shops and chains."
Chain? Big Shops? We're talking about the same country right?
@"Vietnam is still very much a cash economy outside of big purchases, and also has a strong grey market economy going on for some goods."
Unfulfilled potential is my view of the country.
Thursday 28th May 2020 16:38 GMT Triggerfish
Re: Kind of
Willing to stand corrected but I am a little confused on that. Last visa run i did was in Jan, I could not apply for an e-visa as a British Citizen. I had to apply for a VOA and stand in a queue at immigration, that also stands for many people I know listed on that list from other countries. Been living here 3 years, first visa I applied for was with the Vietnamese Embassy in London, there was no e-visa process in fact getting visa renewed past few months has been real fun and games because there was no e-visa process.
Resolution 79/NQ-CP that extended it to 80 countries is not even effective until July 1st 2020.
Vietnam also exports some textile brands like Eagle Creek, North Face, Salamon, They are definitely gearied to having manufacturers move over, there is a lot of incentives and trade areas were you get a lot of benefits for building factories, mostly concentrated around Tier 2 cities.
Yes Chains and big shops. I know what country I am talking about. Some examples, Vinmart, Lottie Mart, The Gio Di Dong, Cellphone S, Media mart, as well as foreign companies like Decathlon, H&M, Honda, Kawasaki, Burger king, KFC and so on. I mean I could find more but I have made several purchases via a standard chip and pin POS for larger goods there are definetly chains and big shops here - there's some huge malls here also. I buy any supermarket shopping with chip and pin, and a lot of smaller shops that tend to luxury goods are set up for it even if they are not chains. Dentists and so on also are set up at least the better ones.