Hey, guys, welcome to this new video..In this video, I have Vinh with.me, so this is from the U.S..and he has been relocating to.Vietnam a few years ago..So I think it would be a good perspective for.you to learn a little bit more from someone.who has been before living in the U.S..and he's now coming to Vietnam.and doing business in Vietnam..So can you maybe introduce you to our audience,.let us know for how long you've been here.and what you are working on..Sure. So my name is Vinh Ho..I'm originally from Minneapolis St..Paul in Minnesota, in the United States..And about three years ago in 2017, I moved.to Asia and the first to Thailand for six.months, and then Danang, Vietnam, which is.the Central Coast for about one year..And then in 2019, I moved to Vietnam..In terms of your business, you are.working as a sourcing agent, right?.Someone who's going to take care.of the manufacturing process in Vietnam..Can you tell us more why from your perspective.of Vietnam will be your main hub to.manufacture a product and export?.So that's a good question..As you know, with the US China trade war.prices have gone up in China for exports and.manufacturing. So it's more difficult to.buy products now in China..So the thinking is the next spot is Vietnam..And there's much more.opportunity now in Vietnam..The labor is cheaper and you know, it's very close.to China and in exports it has lots of.different expertise, such as textiles and.manufacturing, wood and furniture and things.like that. There were also recently in the.beginning of the year, the trade agreements.and tariffs between Europe and Vietnam to.kind of reduce all the custom costs..So in general all the custom fees and tariffs from.importing and exporting between Europe and Vietnam ?.Do you think there will be even more dynamism and.synergies in the future between.Europe and Vietnam.Do you think for the long run it would be also.a good way from Vietnam to have a global position.in the trade and become a leader in manufacturing.manufacturing, and export to Europe?.Yeah, I think so..I think what I've learned about was about two.years, two months ago was when Vietnam, the.EU, Vietnam Free Trade Agreement.was signed and ratified..I think there might be a short phase yet that they.have to sign off, but it seems to be a.lot of potential. It's the the biggest trade.deal that Europe has signed with Asia, with.an Asian country or Southeast Asia and.Vietnam as a part of that..So I think we'll see a.lot of opportunity to come..And I think with the barriers going down,.it'll be more trade, more investment, more.opportunities for travel, manufacturing.and import and export..I heard that Chinese will still be.like the leader for everything regarding to.electronics, but either like some specificities.that Vietnam is quite already mature.about, I don't know, manufacturing was.manufacturing some specific products that of.Vietnam can still kind of take a huge part.in the in the global trade and and.manufacturing. Yeah..So I think what's happening is Vietnam is about.15 years behind China and it's taking a.lot of the lower and manufacturing that.China doesn't want to do anymore..That's labor intensive..Could be from craftsmanship..It could be textiles..Sewing Vietnamese are really good at and of.course, shoes, you know, Nike and all the.biggest brands are in Vietnam and China is.trying to move up the supply chain ladder..They want to specialize..And now digital types of products,.cell phones, high technology, 5G..I think that's a higher profile to, you know,.in terms of more money and more expertise..Whereas in Vietnam, they're letting Vietnam do.more of the polluting types of.manufacturing, which could be machinery or.tools or things like that..Ok, and so from your perspective, being in.Vietnam today and let's talk let's take the.projection of the next three years, do you.think there is still a lot of opportunities.for maybe someone who is having an.entrepreneurship mindset, who want to maybe explore.the different business of.dropshipping and Amazon FBA?.Can you talk a little bit about that,.about this concept of manufacturing goods in in.Vietnam or in general in Asia.and shipping and selling overseas?.Yes, from Amazon FBA perspective, I used to do.that and I was manufacturing in China as.well as Vietnam..And the reason why I moved to.Vietnam is because of that opportunity..I see Vietnam as like China..Fifteen years ago now, China is getting.more expensive, the laborers increased, materials.increased, and now the next spot is Vietnam..So there's much opportunity now, I would.say, in manufacturing and Amazon FBA..However, there are some challenges with that..You know, Vietnamese companies, they're not as.developed or sophisticated like we've seen.in China. You know, in Chinese.companies, you can contact them..They have the customer service..They speak English..They're very good at sales..They're good at follow up..Whereas in Vietnam, it's a.little bit behind the times..You might run into a problem where someone might.not be able to speak a foreign language.such as English so well, or just the.common business practices might be a little bit.different, you know, whereas in China they.focus on like mass scale manufacturing..They've got the Gwangju Canton Fair..That's very popular. Everything.is thought out..They've got experience,.they've got logistics..Their economy is built on exports last 15,.20 years, whereas Vietnam is just starting and.there's lots of growing pains right now..Ok, so can about that..Can you maybe someone want to get.involved into the Vietnamese manufacturing market?.What was, let's say, the three things you.would advise that person to do, that person?.Do you think from your perspective he has to.move to Vietnam at least a few weeks to.investigate the different markets, go to the factory.and really see the product to kind.of make relationship with the factory?.Do you think is it necessary or.or can we do everything online?.What's your perspective about that?.I think it's always better to.be physically here if you can..Now, you don't have to move here.for one or two or five years..But if you can come here one month, two.months or even six months, I think it's more.advanced stages for you, especially if you're you.want to make that kind of investment..If you really want to do business in Vietnam,.you you want to buy product, you want to.cultivate those business relationships..Then the more time you spend here,.it's going to be better for you..So I think it's very crucial for that..Ok, so let's say you come.here, you investigate the market..You you you you try.to foresee some potential products..You do some kind of market analysis and you.see if the product may sell sold overseas,.then how we talk softer.in terms of the agreement..Can you explain a little.bit what flow from you?.You enter into a issue, investigate some.product until the product manufacturer and cheap.overseas. What was the different part in.terms of the quality as well?.Can you digest this for us?.Yes, I think, again, there's.a quality issue in Vietnam..Of course there's opportunity, but they're a little.bit behind the times and it may not.be as sophisticated in their sales,.in their manufacturing and their exports..So right off the bat, you might have.problems from there in terms of getting products,.products exported to either.Europe or North America..Usually from my experience, I worked with the.manufacturer and then they either have a.freight forwarding company or I could.choose my freight forwarding company..And they're the people that come.and pick up my products..Usually it's in a by container..Usually when you're at this level, the.most manufacturers required minimum order of one.container usually. So that's kind of another kind.of hurdle for people to get if they're.just starting off or they're small business..And is it possible to kind of.split a container between different between different.business owner? Is it something the different.companies providing or the minimum wage or.the minimum order is one container?.I think to be fair, the easiest.way to put it is containers..Probably most of the minimum..You might be able to get away.in in China, where they're most sophisticated..They can split your shipment..They can go in with.another company or another importer..But in Vietnam, I think with the language.barrier and just to make things easier, you.probably have to be committed for at least the.container or maybe you can talk to them.and say you want to have a trial, you.might be able to to to negotiate it down..To answer your other.question about the payment..So from my experience working with manufacturers.here, it has been a bank transfer..That's how we've been able to do the payment..I'm not sure you might be able to.do it differently with different manufacturers like in.China. They might be able to take WeChat.payment or some kind of transfer wise payment..But for me, in my past, I've always been.a bank transfer from a US bank account and..To their local Vietnam, that's how.we've been able to do business..So in general, you pay up front, run what,.20 percent usually is 30 percent down, and.then the rest the 70 percent upon the.freight Florida when they come and collect..Ok, so before the Fred come to collect, it's.better to have done like all the quality.check. And to be sure, the product is.like they won't have any default rights..Right. Usually you can hire that out..There are some supply chain and quality control.companies you might want to check out..You can just Google our search for me..I had relationships with these companies and I've.been traveling to Vietnam, so I knew.them and I would check on them..So it was not a big problem..But that's one way you can do it..Or I had my manufacturer just send me photos.of the finished product and maybe of them.putting it on the truck..So then I know that it's everything's OK..Ok, so can you talk?.Maybe now it's a bit more about what we.are working on currently global trade and your.YouTube channel. Sure..So I have a global trade YouTube channel and the.reason why I started it is I wanted to.dip in and expose and study a little.bit about Asia's history, especially Vietnam sets of.I'm based here now and I wanted to.talk about technology, the economy and modern day..And that's kind of what my interest.is all about as well as business..I think you can't really get away.with highlighting Vietnam without talking about the.economy these days because things.are changing so quickly..So that's kind of my interest is Vietnam,.Southeast Asia and Asia in general, and trying.to get that out to the public because a.lot of people don't know what's happening on this.side of the world. And I wanted.to highlight some of that information..Ok, do you plan to provide any service in.the future either for helping get you to.relocate or helping business owner to.set up businesses in Vietnam?.Oh, yeah. So my expertise is.in supply chain and manufacturing..So my day job is I do work.for a Chinese international company sourcing product in.Vietnam. And so I do quality control..I go to factories, I audit them, I.coordinate logistics and and check up on.products and things like that..So if you're out there and you need help.with that or assistance, I could maybe provide.assistance by following up..Or you can hire me short term.or long term on a product project..So it just helps out where you have someone.you can trust on this side of the world.that's part of your team versus you have.to travel back and forth all the time..Yeah, I think there is any way good.opportunities to investigate what Vietnam can provide..It can be just for a young.entrepreneur just starting his business here..As we mentioned, you have a lot.of community, a lot of gathering..So it's very easy to kind of connect.between each other and also in the manufacturing.side, I'm pretty sure in the next I mean,.already now, but over the next five years, we.change a lot. So if you guys are.into this industry, I'm pretty sure foreseeing the.opportunities here..I mean, you show me some of the products..You are you are you are you.are you are providing for the US..I'm pretty sure even for French people,.European people, there is opportunities in at.least coming here sourcing some products and probably.get get starting I mean, gets a.business on track by.producing here and manufacturing..Actually I check some of your video..You you really dig into some of the content..So I invite you guys to check out..We put all the link in the description..I have also some articles on on the blog.about the different kind of products you can.source in Vietnam..It can be either take textile products,.just factory in general, and also coffee..That's the idea. Also to try to show.the product available in Vietnam for you guys..Thanks, Vinh, for for inviting me here in.in your office, which is very good.setup for the video..Do you have a last word.to say to our audience?.I think Vietnam, Southeast Asia.is a great opportunity..I know. Guillaume sees the opportunity..And he made a commitment to move here and.he has great services and he's kind of.doing the same thing. He wants.others to come here, too..And I think if you have an opportunity, at.least come by Saigon, Ho Chi Minh City and.Vietnam, I think you'll be delighted and.excited about Vietnam and Southeast Asia..Great, thank you Vinh. Thank you..And I see you in the next video..Thank you very much..
