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Business & Investment

"With all its favorable natural conditions, an abundant working force, and available material bases, Khánh Hòa has been creating new opportunities and working out new and open policies for domestic and foreign investors to enter joint cooperation." Department of Planning & Investment of Khanh Hoa province

Most foreign and domestic investment in Nha Trang, the capital of Khanh Hoa province, is done in resorts, hotels and restaurants. It is also a competitive location for investment in light industries (e.g. garment and fish processing etc). We will give here information on opportunities as well as the business and investment environment and the experience of foreign investors.

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We now start featuring foreign-invested businesses here:

Orange Sailing Holding BV is based in The Netherlands, with its head office in The Hague.The companies’ main objectives are the development of charter concepts for yachts, as well as construction, sales and exploitations of charter yachts. Orange Sailing’s representative office in Vietnam, where the yachts are built, is based in Nha Trang. The Financial Times has published an interesting article about this company. Excerpts:

Yachts for Vietnam?
June 13, 2011 10:07 am by Ben Bland, The Financial Times

Vietnam’s ambition to develop a strong maritime industry, exploiting its extensive coastline and strategic location, has taken a hit because of the near collapse of Vinashin, the heavily indebted state-owned shipbuilder that was meant to be a national champion.

But while industrial shipbuilding may be passé, some investors believe that Vietnam has the potential to develop a yacht industry, capitalising on the emergence of a new class of wealthy business owners.

There are currently only two “serious” luxury yachts in Vietnam, according to Ruurd van Putten, a Dutchman who is trying to develop the industry from his base in the resort city of Nha Trang, south-west Vietnam.

He hopes that, as people get richer and more marinas are built, Vietnam will start to follow China, South Korea and Thailand, where the market for yachts is expanding rapidly.

“People in Ho Chi Minh City and Hanoi are buying holiday villas in places like Nha Trang and Danang and they are potential yacht owners,” he said. “After they’ve bought a big house and a big car, what’s next? We hope it’s a big yacht.”

In addition to setting up his own boat charter company in Nha Trang, van Putten is an agent for Northrop and Johnson, a super-yacht broker, and is working as a consultant on the construction of Vietnam’s first marina, which is part of Diamond Island, a high-end residential development in Ho Chi Minh City.

Van Putten said that construction of the Diamond Island marina will start by the end of this year and other marinas are planned at Halong Bay, in north Vietnam, in Danang, in central Vietnam, in Nha Trang and Mui Ne, another resort town in southern Vietnam.

With only two luxury yachts permanently based in the country, cynics might wonder why Vietnam needs all these marinas and whether they will ever, in fact, be built.
Van Putten believes it is a “chicken and egg” question. “Without the appropriate facilities, you aren’t going to have the yachts,” he said.

Many wealthy Vietnamese like to show off and sellers of designer handbags, luxury cars and the jewel-encrusted Vertu phones produced by a Nokia subsidiary have found Vietnam to be a thriving market.


Calls
For contact by phone click here. Apart from hotels, calls can also be made from a post office or you can skype through internet at a hotel or at an internet café. Vietnam's dialing code ...


Contact
When using the telephone at a hotel be sure to check what service provider they use. A Skype phone will cost a few dollars US for a lengthy phone call whereas a land line charges US$1 per minute, be ...


Customs
Visitors to Vietnam are allowed to import and export an unlimited amount of foreign currency. But upon arrival at the airport they are required to declare currencies and amounts on an official form ...


Dangers & annoyances
Stay safe and cool! Crime rate is still low in Nha Trang, but on the rise. Though not rampant, there is pickpocketing and, for example, jewellery disappearing during an embrace. During massage ...


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