Thursday, May 26 2011

The day began with a visit to the American Consulate.  It was an informative visit as Brian Rupert, the Economic Officer at the US Consulate told us about the growing economy of Vietnam, how Vietnam opened its doors to foreign investments in 1990 and how the government was planning to take this nation to the next level.  He also discussed about the challenges that are being faced by the people and government of this country and what America thinks about the relationship with Vietnam, especially after the war.  It was interesting to learn about the growing inflation rate in the country and how there is a cash and credit economy running parallel to each other.

For me the most informative presentation today was from Huyhn Buu Quang from HSBC Bank as he touch based on the economic structure of the country from a banker’s perspective.  Since HSBC is the largest foreign bank in Vietnam, it was informative to know how the management at HSBC foresees the growth potential of Vietnam, and what the challenges are that HSBC is facing in this country where there are two parallel economies of credit and cash.  

e-Town outside of Ho Chi Minh City

A visit to Harvey Nash in e-Town was highly productive as I got a chance to see how an American company has established such a big office here in Vietnam and how they have been able to serve their clients worldwide.  I was surprised to note that the majority of the work force there was under thirty years old.