asialife HCMC 1 - AsiaLIFE Magazine

financeBye Bye 2010By Paul McLardieI was talking to a friend whoruns the Saigon office of oneof the major shipping agentsin Vietnam about the lastyear and how our respectivebusinesses have coped during2010. One of the thingswe agreed on was how it hasnot been easy lately for businessesin Vietnam. With thechange in the dollar price,the instability of Foreign DirectInvestment (FDI), and thegeneral conditions of carryingout business, it's been a bitrough.This is not surprising,and it's not just two matestalking over a coffee at hisoffice. The World Bank hascarried out an investigationinto which economies arethe easiest to do business in.Vietnam came in at number78, between the Bahamasand China. Vietnam placedwell above the supposedlymore developed countriessuch as the Russian Federationand Italy, but well behindthe local competition such asThailand (19) and Singapore(1). The good news is thatwhere Vietnam competesfor attention to gain FDI, itsneighbours are lagging wellbehind: Cambodia (147),Laos (171), Indonesia (121),Philippines (148).While Vietnam lags behindin the ease of setting up andstarting a business, it hasrecently made good strides inareas such as getting creditand trading across borders.My friend and I agreed thatthe new year will be easierthan 2010. The fluctuationsin the price differencebetween the dong and dollarshould lessen and with thegovernment looking at thepossibility of opening upthe local gold market toimports, this should lessenthe requirements of the blackmarket.Banks in Vietnam arerequired to hold U.S. dollars.At present, we all know thatthe dong is not a transposablecurrency on the worldmarkets so there is a relianceon U.S. dollars. The morepeople use the banks (andblack market less), even if itis just for exchanging dollars,the less panic and runs ongold the economy will have.Support the Vietnameseeconomy by using banks thatyou feel you can trust. Notonly will it be safer for you,but it will also help alleviatethe crippling inflation that hasbeen a large part of the problemsin 2010. It helps theeconomy and hopefully willleave you with a few moredong left in your pocket afteryour trip to the supermarket.Paul McLardie is a partnerat Total Wealth Management.Contact him at Paul.mclardie@t-wm.comFuture World240 Nguyen Thi Minh Khai, D3Authorized reseller of Apple computersand products, as well as some off-branditems like headphones. Excellent serviceand English-speaking staff. Accepts creditcards.Phong Vu Computer264C Nguyen Thi Minh Khai, D1Tel: 3933 0762www.vitinhphongvu.comThe biggest and busiest of the PC storesin town. Known for good, efficient service,in-house maintenance and after-salesrepair on the second floor.SYS Vi Tinh Saigon96C Nam Ky Khoi Nghia, D1www.vtsaigon.comA superb place with an excellent reputationfor after-sales service with competentEnglish speaking staff and a wide rangeof products and services. Freeware andshareware also available on the storewebsite.CONSULTINGConcetti33 Dinh Tien Hoang, D1 Tel: 3911 1480www.concetti-vn.comConsulting and research company fortechnology transfer and investment.Embers-Asia Ltd.Level 9, Nam Giao Building, 80-8 PhanXich Long, Phu Nhuan Tel: 3995 9163www.embers-asia.comWith a focus on experiential learning,Embers-Asia has been creating anddelivering high-performance training anddevelopment solutions forcorporations, embassies, internationalschools and NGOs throughout SoutheastAsia since 2002.Ernst & YoungSaigon Riverside Office Center, 2A-4ATon Duc Thang, D1 Tel: 3824 5252www.ey.comProfessional service firm specializing inadvisory, assurance, tax, transactions andstrategic growth markets.Flamingo Corporate ServicesTel: 2217 1662Email: info@flamingovn.comwww.flamingovn.comSpecializes in business immigration,providing services like visas, work andresident permits, police clearance, APECcards, authentication and legalization ofwork experience certificates and degreesin Vietnam and abroad.Grant ThorntonSaigon Trade Centre, 37 Ton DucThang, D1 Tel: 3910 9100www.gt.com.vnInternational business advisors specializingin auditing, management consulting,corporate finance, risk management andinformation technology.IF ConsultingIBC Building, 3rd Floor1A Me Linh Square, D14th Floor, 5 Ba TrieuHoan Kiem District, HanoiTel: 3827 7362 Fax: 3827 7361Email: pascal@insuranceinvietnam.comPrivate insurance and finance.Indochine CouncelHan Nam Building, 65 Nguyen Du, D1Tel: 3823 9640www.indochinecounsel.comBusiness law firm specializing in legalservices to corporate clients in relationto their business and investment inVietnam.International Management Initiativefor Vietnam (IMIV)info@imiv.orgwww.imiv.orgThe International Management Initiativefor Vietnam (IMIV), a non-profit initiativewithin VinaCapital Foundation thatpromotes excellence in business leadershipand management by bringing toVietnam proven international executiveeducation and professional developmentprogrammes.Phuong Nguyen ConsultingTPC Business Center, 92-96 NguyenHue, D1 Tel: 3829 2391www.pnp-consulting.comSpecializing in business facilitation,conferences, education counselling,market-entry research and IT/businessconsulting.Prism Information TechnologyServicesLevel 4, YOCO Building, 41 Nguyen ThiMinh Khai, D1 Tel: 3829 6416info@prism.com.vnA foreign-owned information and communicationstechnology company thatoffers value-added IT solutions. Enableslocal businesses to attain and maintaininternational IT standards to be morecompetitive in the marketplace.Rouse & Co. InternationalAbacus Tower, 58 Nguyen Dinh Chieu,D1 Tel: 3823 6770www.iprights.comGlobal intellectual property firm providinga full range of IP services including patentand trade mark agency services.Saigon-Expat Tax Services23 Phung Khac Khoan, D1Tel: 0938 220 255luckyviv8888@yahoo.comAn IRS-enrolled agent specialising in thepreparation of U.S. personal income taxreturns. Also provides Vietnam tax andbusiness legal consulting.Star Management Limited92-96 Nguyen Hue, D1 Tel: 3897 2765www.starlimited.comBusiness advisory services for companiesinvesting in Vietnam, businessproject advancement and a range ofbusiness development services.TMF Vietnam Company LimitedUnit 501, 5th Floor, Saigon TradeCenter37 Ton Duc Thang, D1Tel: 3910 2262 ext. 113Fax: 3910 0590www.tmf-group.comWith headquarters in Amsterdam andRotterdam, TMF Vietnam specializes inaccounting outsourcing and consulting.Total Wealth Management66/11 Pham Ngoc Thach, D3Tel: 3820 0623www.t-wm.comSpecialists in selecting and arrangingtax-efficient savings and pension plansfor expatriates. Offers councel on privatebanking services, wealth protection inoffshore jurisdictions, currency risks andhedging strategies.Towers Watson Vietnam (formerlyWatson Wyatt and SMART HR)Sun Wah Tower, 115 Nguyen Hue, Suite808, D1Tel: 3821 9488Global HR consulting firm specializing inexecutive compensation, talent management,employee rewards and surveys,HR effectiveness and technology, dataservices and total rewards surveys.DECORAntique StreetLe Cong Kieu Street, D1 betweenNguyen Thai Binh and Pho Duc ChinhA variety of antiques and faux antiquesfrom Thailand, China and Vietnamincluding silverware, compasses, lighters,brass knockers, urns, vases, abacuses,religious and pagan statues, candlestickholders, furniture and watches.Asian Fish34 Mac Thi Buoi, D1Boutique-style arts and crafts store sellinglocally made gifts and souvenirs, alldesigned by the Japanese owner. Productsinclude clothing, bags, crockery,sandals, chopsticks and jewellery.Aquarium StreetNguyen Thong Street, D3 between VoThi Sau and Ly Chinh ThangDedicated street has everything oneneeds to display fish: tanks, decor, feed,filters and the fish themselves.Budget Housewares StreetCorner of Pasteur and Nguyen DinhChieuStock up on shower heads, kitchensupplies (juicer, spatula, grater, etc.),coat racks, clothes hangers, pots, pans,champagne flutes, bowls, coolers, trashbins, ironing boards, magazine racksand the like.Chau Loan213 Dong Khoi, D1 Tel: 3825 7991Gallery based in a colonial shophousestocking mainly Vietnamese-themed oilpaintings and images of Buddha. Alsodeals in better-known reproductions.Decosy112 Xuan Thuy, D2 Tel: 6281 9917Producer of a large selection of Europeanstyled furniture and interior fittings,specializing in wrought iron and patine(distressed) wood finishes. Also stocksa wide-range of decorative accessories,crockery and fixtures. Custom designservices available upon request.Dogma175 De Tham, D1 Tel: 3836 0488www.dogmavietnam.comLocated upstairs from Saigon Kitsch, thisart gallery deals in Vietnamese propagandaposters, apparel, accessories andrandom paraphernalia. Large prints aresold at USD $60 each and small printscost $25.Minh Boutique15 Nguyen Thiep, D1Lacquerware pieces, tea boxes, teapotwarmers, ice buckets and sake drinkingsets all handmade in Vietnam. Also sellsa range of silverware, egg holders andice tongs.OUT-2 STUDIOL6 Fafilm annex6 Thai Van Lung, D1 Tel: 3825 6056STUDIO@OUT-2.comwww.out-2.comStudio space for independent designersto showcas their wares, sell their workand meet with clients. Open Monday tSaturday 10 am to 6 pm.Sapa125 Ho Tung Mau, D1Offers a better selection of hill tribehandicrafts than most of its rivals.Concentrates mainly on the hand-wovenclothing of the indigenous tribespeopleof the region. There is also a line inladies’ shoes and the standard range ofsilk wraps and bags.Vietnam-Quilts64 Ngo Duc Ke, D1 Tel: 3914 2119www.mekong-quilts.orgNGO enterprise specializes in quilts andsells a range of appealing handmadeproducts created by underprivilegedwomen in Binh Thuan Province.ELECTRONICSHi End Audio84 Ho Tung Mau, D1A standout that stocks the very latestand greatest in home entertainment.Retails in everything from giant plasmascreenTVs to audio equipment. Mosttop brands are available.iDEAS Shopping Centre133-141AB Cach Mang Thang Tam, D3The largest of the electonics storesalong the street, the three-storey iDEASsells every type of electronic and homeappliance imaginable. Offers proper warranties.Staff speaks some English.Nguyen Kim Shopping Centre63-65 Tran Hung Dao, D1Tel: 3821 1211www.nguyenkim.comStocks DVD/CD players, cameras,TVs, hi-fis and more from Sony, Sanyo,Panasonic, Philips and other majormanufacturers. Also a good place topick up electronic kitchen supplies likecoffee makers and rice cookers, as wellas large and small appliances, from hotwater heaters to regrigerators.Phong Vu125 Cach Mang Thang Tam, D1Tel: 6290 8777www.vitinphongvu.comTwo-storey electronics store retails ininternational products convenientlygrouped by brand. Carries computers,home audio, printers, hard drives andmore, as well as a variety of mobilephones, handheld electronic devicesand accessories.Savico117 Ho Tung Mau, D1 Tel: 3821 7993One-stop electronics and home appliancesuperstore. All products have aone to three-year warranty.Tech StreetHuyen Thuc Khang Street between TonThat Dam and Nguyen Hue, D1Sells compact discs, DVDs, electronicmoney counters, video games andsystems, Discmans, mp3 players andportable DVD players.FURNITUREAppeal41 Ton That Thiep, D1 Tel: 3821 5258A small, upscale shop that offers modernaccents for the sleek dining room.The colours of the over-sized vases andfruit bowls are either glistening red orlacquered black.AustinHome20 Thao Dien, D2 Tel: 3519 0023Outstanding quality and style for yourhome. The shop says its products arehand-picked by an American furnitureexpert from the best factories in Vietnam.Upholstery, accessories, antiquesand more.Catherine Denoual15C Thi Sach, D1 Tel: 3823 9394Beautiful showroom with clean lines anda sumptuous array of bedroom productsincluding bedside lamps, linens, pillowcasesand duvet covers.Decosy112 Xuan Thuy, D2 Tel: 6281 9917Producer of a large selection of Europeanstyled furniture and interior fittings,specializing in wrought iron and patine(distressed) wood finishes. Also stocksa wide-range of decorative accessories,crockery and fixtures. Custom designservices available upon request.El Gallery23 Ly Tu Trong, D1 Tel: 3824 8306Traditional decor with a modern twist.Offers a variety of mid- to high-rangefurniture, rugs, lighting, art and accessoriesfrom around the world, plus interiordesign services. Also imports furnitureto Vietnam for export to Europe and theUnited States.Esthetic11 Nguyen Huu Canh, Binh ThanhTel: 3514 7371/7372Fax: 3514 7370esthetic@vnn.vnwww.estheticfurnishing.com.vnDesign and manufacture as order with amixture of antique and modern furniture.Friendly staff speak excellent English.Furniture Outlet3A Ton Duc Thang, D186 asialife HCMC