Expat entrepreneurs discovering Vietnam as the perfect startup incubator

Expat entrepreneurs are discovering Vietnam for its cost-effectiveness and efficiency.

Given the difficulties of getting settled and building a business in the vast majority of expatriate hubs, it’s no surprise that Vietnam has burst onto the 21st century expat entrepreneurial scene and is now attracting increasing numbers looking to tech startups to make their fortunes. Low overheads are a pleasant surprise, and Vietnam’s highly-skilled, ambitious young workforce is putting Western workforces to shame.

For those looking to create the next online sensation, Vietnam is an employers’ marketplace as graduate unemployment is high. Wages are low compared with the West and skills match and often exceed those in developed countries, giving entrepreneurs the chance to get going without breaking the bank. Another advantage is the camaraderie which exists in the already established startup communities in Hanoi and Hoh Chi Minh City. Inspiration flourishes and networking is easy, with friendships developing amongst expatriates from across the world.
Culturally speaking, adjusting to Vietnam is surprisingly easy as the two major cities have Western amenities such as gyms and a plethora of eateries serving dishes from across the world as well as healthy Vietnamese favourites.

The slight differences between the north and south of the country give a choice to incoming expats, with the north rather more careful and conservative in business matters than the more free-wheeling south. New arrivals will be overjoyed to find a good number of Vietnamese speak English with a high degree of comfort, usually due to an international education. These same people have an understanding of Western business norms and practices linked with their personal insights into local culture, a perfect recipe for building a global business. Ambitious targets are being set for startups by the Vietnamese government, but they’ve intentionally or even unintentionally created the perfect environment for startup success.