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Friday, December 29, 2006

Exchange expands to 3x daily

Vietnam’s burgeoning stock market plans to raise order matching from twice a day to thrice daily to meet increasing demand from investors, the exchange’s watchdog body has said.




The Vietnam Stock Exchange is changing with the times.

“Investors have now placed so many orders that brokers can hardly handle them in two sessions, so an increase in order matching is inevitable,” Tran Dac Sinh, director of the Ho Chi Minh City Securities Trading Centre (HSTC), said when he unveiled the plan last week.
“The change will possibly start from mid-June this year,” he told Vietnam Investment Review, but declined to give an exact date for the change. He said other share trading rules will remained unchanged.
The change is also a preparatory step to develop the trading centre, which was launched in July 2000 and now has 35 listed companies with a market capitalisation of more than $1.5 billion, into a national stock exchange by early 2007, the director said.
Under the project, which is to be sent to the Ministry of Finance for consideration by June, the exchange will adopt an automatic order matching approach, which will enable investors to place both market and limit orders.
The exchange will operate under the form of a limited liability company in the first three years and then sell shares to the public to transform itself into a shareholding concern.
The exchange will be subject to both the Unified Enterprise Law, which will come into force in July, and the Law on Securities, which is expected to be passed next month.
It can issue listing conditions and licences as well as supervise stock transactions and the activities of its members. It will also allow investors to trade not only bonds, fund units and corporate shares but also their derivatives like forwards, futures and options, he said.
The trading centre now acts both as a regulator and a service provider, which Sinh said was no longer suitable.
“The State Securities Commission should serve as a regulatory body while the exchange will be tasked with creating more commodities and supporting transactions to go smoothly,” he said.
He said to develop the centre into an exchange was inevitable as many more investors and companies had been joining the market.
In preparation for the development, in the first quarter of this year, the trading floor was moved to a larger hall at 45-47 Ben Chuong Duong Street, District 1, which also has better technical facilities.
Sinh said a project, in cooperation with domestic and foreign partners, to provide a new, modern trading system is under development.
“The new project will enable securities companies to send in more trading orders and the centre to carry out automatic order matching,” said the director.
Vietnam’s stock market has seen strong development in recent months, with the benchmark VN-Index rising more than 100 per cent over last year-end period. It broke the old all-time high of 571.04 point set five years ago to close at 591.39 last Friday and experts predict it will breach the 600 level soon.
Market capitalisation has increased from a level of $144 million two years ago to more than $1.5bn and is expected to rise by nearly 30 per cent to $2.3bn in June with the expected listing of the Ho Chi Minh City-based Sacombank.



No. 758/April 24-30, 2006
By
Duong Nguyen - Vietnam Investment Review

Stock Market Crash




1929 - The stock market crash ushered in the Great Depression.

What made the stock market crash? Here's a brief summary.

Capital is the tools needed to produce things of value out of raw materials. Buildings and machines are common examples of capital. A factory is a building with machines for making valued goods. Throughout the twentieth century, most of the capital in the United States was represented by stocks. A corporation owned capital. Ownership of the corporation in turn took the form of shares of stock. Each share of stock represented a proportionate share of the corporation. The stocks were bought and sold on stock exchanges, of which the most important was the New York Stock Exchange located on Wall Street in Manhattan.

Throughout the 1920s a long boom took stock prices to peaks never before seen. From 1920 to 1929 stocks more than quadrupled in value. Many investors became convinced that stocks were a sure thing and borrowed heavily to invest more money in the market.

But in 1929, the bubble burst and stocks started down an even more precipitous cliff. In 1932 and 1933, they hit bottom, down about 80% from their highs in the late 1920s. This had sharp effects on the economy. Demand for goods declined because people felt poor because of their losses in the stock market. New investment could not be financed through the sale of stock, because no one would buy the new stock.

But perhaps the most important effect was chaos in the banking system as banks tried to collect on loans made to stockmarket investors whose holdings were now worth little or nothing at all. Worse, many banks had themselves invested depositors' money in the stockmarket. When word spread that banks' assets contained huge uncollectable loans and almost worthless stock certificates, depositors rushed to withdraw their savings. Unable to raise fresh funds from the Federal Reserve System, banks began failing by the hundreds in 1932 and 1933.

By the inauguration of Franklin D. Roosevelt as president in March 1933, the banking system of the United States had largely ceased to function. Depositors had seen $140 billion disappear when their banks failed. Businesses could not get credit for inventory. Checks could not be used for payments because no one knew which checks were worthless and which were sound.

Roosevelt closed all the banks in the United States for three days - a "bank holiday." Some banks were then cautiously re-opened with strict limits on withdrawals. Eventually, confidence returned to the system and banks were able to perform their economic function again. To prevent similar disasters, the federal government set up the Federal Deposit Insurance Corporation, which eliminated the rationale for bank "runs" - to get one's money before the bank "runs out." Backed by the FDIC, the bank could fail and go out of business, but then the government would reimburse depositors. Another crucial mechanism insulated commercial banks from stock market panics by banning banks from investing depositors' money in stocks.

HCM City stock exchange ups ante



HCM CITY — Onlycompanies with at least VND80 billion (US$5 million) in authorised capital will
be allowed to list in HCM City.

State Securities Commission Chairman Vu Bang told reporters on the sidelines of a Listed Company Club and investors’ meeting last Saturday in HCM City that a draft decree to guide the Securities Law had been submitted to the Government.

Under the decree, expected to be approved early next year, companies already listed but with less than
VND80 billion equity would have two years to increase their capital failing which they would be moved to the Ha Noi exchange.

Bang said the HCM City bourse would target major institutions in industries like banking, insurance,
and telecom.

FPT lists this week

The Vietnamese markets moved erratically during the past week but with more ups than downs, propelled
by the impending listing of several blue chips.

The VN Index closed almost 65 points higher at 696.12 even though two out of the three trading sessions
last Friday were cancelled due to technical problems at the HCM City Securities Trading Centre.

The Corporation for Financing and Promoting Technology (FPT) will list in HCM City on Wednesday.

FPT is a market leader in systems integration, mobile phone distribution, software production, and telecom
and internet services. It recently opened a software engineering university.

Big names like Intel Capital and Texas Pacific Group have invested US$36.5 million in FPT, whose
equity capital now stands at over VND608 billion ($38 million). Its shares were traded unofficially at 20 times their face value.

It will be followed the next day by Thu Duc Housing Development Corporation (TDH). With capital of
VND170 billion ($10.6 million) it will be the first property company to list. It is owned by various institutional and individual investors including major companies like the HCM City Securities Company, Saigon Securities Inc, Amersham Industries Ltd, and Vietnam Dragon Fund Ltd.

The Hong Kong and Shanghai Banking Corp rates TDH as one of Viet Nam’s top 15 blue chip companies.

The 16-year-old joint-stock company has invested in more than 30 housing projects including An Phu and Binh An, and has eight others under construction, including Cantavil and Hiep Phu.

It is also a major financial investor with VND250 billion ($15.6 million) in Phuoc Long Textile Joint Stock Co., HCM City Housing Development Bank, and Prudential Balanced Investment Fund 1. Its chairman, Le Chi Hieu, said the company would begin to offer new services like property management and brokerage.

It made a profit of VND38 billion ($2.7 million) last year and VND40 billion in the first three quarters
this year.

Securities firm to debut

Saigon Securities (SSI), among Viet Nam’s first securities companies, will this Friday become the first
company from the industry to list on the Ha Noi Securities Trading Centre.

SSI has an equity of VND500 billion ($31.25 million) and total assets of over VND2.5 trillion ($156.25 million).

It services over two-thirds of all foreign stock market investors and consulted for 17 major companies listed in HCM City.

It expects net profits this year of VND148 billion ($9.25 million) and VND302 billion next year, and to
pay annual dividends of 30 per cent until 2009. — VNS

see details: VietNam News

VN joins world diabetes group

HA NOI — Viet Nam was admitted to membership in the World Diabetes Association earlier this month, according to Prof Ta Van Binh, director of the National Hospital of Endocrinology.

Type 2 diabetes, which accounts for 95 per cent of total diabetic cases, was on the rise, said Binh.

According to statistics of the National Diabetes Prevention Project, the diabetes rate was about 2.7 per cent nationwide in 2002. The rate was higher in major urban centres like Ha Noi, HCM City and Da Nang.

At the 19th Congress of the World Diabetes Association in Capetown, South Africa, on December 4, the association announced that using Avandia at the onset of diabetes brings positive results in Type 2 diabetes patients, said Binh.

However, the cost of Avandia treatments is high, at US$ 60 per month, placing it beyond the reach of the poor in Viet Nam. — VNS

Viet Nam News

Japan to donate $90,000 to buy equipment for hospital

BINH PHUOC — The Japanese government has agreed to provide aid worth nearly US$90,000 to Chon Thanh Hospital in the southern province of Binh Phuoc to buy medical equipment.

An agreement was signed between the Japanese consulate in HCM City and the Chon Thanh District People’s Committee on Monday under which the money will be used to buy equipment including an X-ray and blood testing machines.

The new equipment will serve some 62,000 residents living in the district.

Chon Thanh Hospital has a staff of 40, including eight doctors, but lacks necessary equipment.

Japan has also provided nearly $48,000 for the province’s Bu Dang District Hospital and $83,300 for a new school in Dong Xoai District. — VNS

See details: VietNam News

MoH urges lower pharma imports

HCM CITY — The Ministry of Health is encouraging joint-venture companies in pharmaceuticals, vaccines and high-tech medical equipment to reduce their dependence on imports, according to a report released last week by the ministry.

The ministry said by 2010 the country should be able to make enough medical equipment to meet 60 per cent of the needs of hospitals in the country.

The report was discussed at a meeting in Ha Noi last week to review the last four years of a national programme on medical equipment supply.

The ministry said the government would continue to fund the programme to study the design and production of medical equipment through 2010.

According to the report, 56 manufacturers including private, joint-stock and joint-ventures have produced 621 items of medical equipment, of which only 5 per cent was considered to be of a modern standard.

Most of these were for use in physical therapy and functional rehabilitation, and only a minority are for high-tech electronic equipment like X-ray, Doppler and steriliser machines and are not for use in hospitals or clinics.

The report said that locally made products have fewer technical functions than imported products while their appearance is not as appealing as foreign-made products.

In August, the ministry reported after a countrywide inspection that the 289 hospitals in the country, with a total of 64,000 beds, did not meet equipment requirements. Much of the equipment that did exist was outdated, the ministry said.

The inspection found that many hospitals lacked sufficient equipment for surgery and intensive care units.

"We found that even a 500-bed hospital had only two respirators that are operational, and the surgery lights and surgery beds were out of date," said Nguyen Huy Thin, deputy director of the health ministry’s treatment department.

More seriously, the oxygen supply system for surgical units failed to meet professional technical standards, he said.

More than 70 per cent of the hospitals did not have a CT scanner.

Duong Huy Lieu, director of the ministry’s finance department, said that 35 per cent of the equipment had been used for more than 20 years, and nearly 40 per cent of the equipment had been used from 10 to 20 years.

The items of equipment that are old should no longer be used, Lieu said. — VNS

Copyright by Viet Nam News, Vietnam News Agency

Hanoi Securities Trading Center



Hanoi Securities Trading Center (Hanoi STC) located in Hanoi, Vietnam was launched in March 2005 and handles auctions and trading of stocks and bonds. It was the second securities trading center to open in Vietnam after to Ho Chi Minh City Securities Trading Center.


Ho Chi Minh City Securities Trading Center


Ho Chi Minh City Securities Trading Center (HSTC) in Ho Chi Minh City, Vietnam was established in July 2000. It is an administrative agency of the Vietnam State Securities Commission, and manages Vietnam's securities trading systems.



The Stock Trading Center of Vietnam (‘STC’), located in Ho Chi Minh City, was officially inaugurated on July 20, 2000, and trading commenced on July 28, 2000. Initially, two equity issues were listed, Refrigeration Electrical Engineering Joint Stock Corporation (‘REE’) and Saigon Cable and Telecommunication Material Joint Stock Company (‘SACOM’). As of this date, an additional 20 issues are also listed with a current market capitalization of US$239m.


The Stock Trading Center of Vietnam is also the official mechanism through which new government bonds are issued, and it functions as the secondary market for a number of existing bond issues. As of this date there are 120 listed bonds with a total market capitalization of US$866m. All securities traded on the Stock Trading Center of Vietnam are denominated in Vietnamese Dong. Par valued is standardized at VND10,000 for equities and VND100,000 for bonds. Trading is conducted daily with two matchings in a morning session, from 9A.M. to 11A.M.


The State Securities Commission (‘SSC’), a body established formally in 1996, is responsible for capital markets development, licensing of participants, and the issue and enforcement of regulations. A wide range of regulations, with significant input from multilateral bodies such as the International Finance Corporation, have been promulgated, including those dealing with such issues as insider trading, take-over trigger points and margin lending. In order to be listed, a company must have been profitable for at least 2 years, have a minimum capitalization of VND5b (approximately US$318,000), and have at least 50 shareholders who are not employees of the company, holding at least 20% of stake. Foreign invested joint venture companies are technically qualified to list, but in order to do so, they must be reorganized into joint stock company status. Companies intending to list must also submit to audit by an approved, independent auditing company.


In the beginning, an overall foreign ownership limit of 20% for equities and 40% for bonds were implemented. In July 2003, in a bid to improve liquidity, the government raised the foreign ownership limit for equities to 30% and totally removed foreign ownership limit of a particular issuer’s bonds. Foreign participants on the Stock Trading Center of Vietnam must register through a custodian licensed to hold securities on behalf of foreigners. Once registered, a securities transaction code is issued to the foreign investor that will permit securities trading.


The mechanism of trading on the Stock Trading Center of Vietnam is via an automated order-matching system. The capacity of the system is 300,000 orders per day. Currently, trading limits of 5% (for bonds and equities) either side of the previous close apply. No price restrictions have been set for newly listed securities but price caps were applied in the case of the very first day of the market’s operations.


Settlement is centralized through the Stock Trading Center of Vietnam using the Bank of Investment and Development of Vietnam (BIDV), a state-owned commercial bank. Several other domestic banks and securities companies have been authorized to accept custody of securities, with HSBC’s and Deutsche bank’s Ho Chi Minh City branches currently the only banks providing custody services for foreign investors. Custody is based on a central depository, central registry book entry system.


Presently, there are thirteen licensed securities companies. Of these, nine have been licensed to conduct a full range of securities services including underwriting, brokerage, custody, research, portfolio management and trading. The minimum capital required to operate effectively as an investment bank is VND43b (c. US$2.7m).


The current market capitalization is now US$239m for equities and US$866m for government bonds.




Official Website


http://www.vse.org.vn



See also


List of Vietnamese companies - Stock Exchange



Stock Exchange



This is a list of companies that are listed on the Ho Chi Minh City Securities Trading Center and Hanoi Securities Trading Center.

A

  • ACB: Asia Commercial Bank (aka ‘ACB’)


  • AGF: An Giang Fisheries Import & Export Joint Stock Company (aka ‘Agifish Co.’)

  • ALT: ALTA Company

  • Advertising Company-


XPR CAMPAIGNS_ Marketing and Communication

B




  • BBC: Bien Hoa Confectionery Corporation (aka ‘Bibica’)

  • BBS: But Son Cement Packing Joint Stock Company

  • BBT: Bach Tuyet Cotton Corporation

  • BMP: Binh Minh Plastic Joint Stock Company

  • BPC: Bim Son Packaging Joint Stock Company

  • BT6: Chau Thoi Concrete Corporation No.620 (aka 620 – CCC)

  • BTC: Binh Trieu Construction And Engineering Joint Stock Company

C

  • CAN: Halong Canned Food Corporation (aka ‘Canfoco’)

  • CID: Construction & Infrastructure Development Joint Stock Company

  • CII: Hochiminh City Infrastructure Investment Joint Stock Company

  • COM: Comeco Joint Stock Company


  • CTB: Hai Duong Pump Manufacturing Joint Stock Company

  • CYC: Chang Yih Ceramic Joint Stock Company

  • CLC: Cat Loi Joint Stock Company

D

  • DAC: Dong Anh Ceramic Joint Stock Company


  • DCT: Dong Nai Roofsheets and Construction Materials Joint Stock Company (aka ‘Donac’)

  • DHA: Hoa An Joint Stock Company

  • DPC: Da Nang Plastic Joint Stock Company

  • DXP: Doan Xa Port Joint Stock Company

F

  • FMC: Sao Ta Foods Joint Stock Company (aka ‘Fimex VN’)

  • FPC: Full Power Joint Stock Company

G




  • GHA: Hai Au Paper Joint Stock Company

  • GIL: Binh Thanh Import Export, Production And Trade Joint Stock Company (aka ‘Gilimex’)

  • GMD: General Forwarding & Agency Corporation (aka ‘Gemadept’)

  • G7 Mart: G7 Trading & Service Company Limited.,

H

  • HAP: Hai Phong Paper Joint Stock Company (aka ‘Hapaco’)

  • HAS: Hanoi P&T Construction & Installation Joint Stock Company (aka ‘Hacisco’)

  • HSC: Hacinco Joint Stock Company

  • HTV: Hatien Transport Joint Stock Company (aka ‘Hatien Transco’)

I

  • IFS: Interfood Shareholding Company

  • ILC: International Labour & Services Joint Stock Company (aka ‘Inlaco Hai Phong’)

  • ITA: Tan Tao Industrial Park Corporation (aka ‘Itaco’)

K



  • KDC: Kinh Do Corporation

  • KHA: Khanh Hoi Import Export Joint Stock Company (aka ‘Khahomex’)

  • KHP: Khanh Hoa Electric Power Joint Stock Company

L

  • LAF: Long An Food Processing Export Joint Stock Company (aka ‘Lafooco’)

M

  • MHC: Hanoi Maritime Holding Company (aka ‘Marina Hanoi’)

N

  • NHC: Nhi Hiep Brick-Tile Joint Stock Company (aka ‘Brico’)

  • NKD: North Kinh Do Food Joint Stock Company

P

  • PMS: Petroleum Mechanical Stock Company

  • PNC: Phuong Nam Cultural Joint Stock Corporation

  • PPC: Pha Lai Thermal Power Joint Stock Company

  • Petrolimex Gas Joint Stock Company

R



  • REE: Refrigeration Electrical Engineering Corporation (REE Corp.)

  • RHC: Ry Ninh II Hydroelectric Joint Stock Company

S

  • SAM: Cables And Telecom Materials Joint Stock Company (aka ‘Sacom’)

  • SAV: Import Export & Economic Cooperation Joint Stock Company (aka ‘Savimex’)

  • SFC: Saigon Fuel Company

  • SGC: SaGiang Import Export Corporation (aka ‘Sagimexco Đồng Tháp’)

  • SGH: Saigon Hotel Corporation

  • SHC: Saigon Maritime Joint Stock Company

  • SJS: Song Da Urban & Industrial Zone Investment and Development Joint Stock Company (aka ‘Sudico’)


  • SMC: SMC Trading-Investment Joint Stock Company

  • SSC: Southern Seed Joint Stock Company

  • STB: Sai Gon Thuong Tin Commercial Joint Stock Bank (aka ‘Sacombank’)

  • STP: Song Da Packaging Joint Stock Company

T


  • TBC: Thac Ba Hydroelectric Joint Stock Company

  • TKU: Tung Kuang Industry Joint Stock Company

  • TMS: Trans-Forwarding And Warehousing Corporation (aka ‘Transimex’)

  • TNA: Thien Nam Trading Import Export Corporation (aka ‘Tenimex’)

  • TRI: Sai Gon Beverages Joint Stock Company (aka ‘Tribeco’)

  • TS4: Sea Food Joint Stock Company No. 4 (aka ‘Seapriexco No. 4’)

  • TTC: Thanh Thanh Ceramic Joint Stock Company

  • TYA: Taya (Vietnam) Electric Wire and Cable Joint Stock Company

  • TNC: Trung Nguyen Corporation

U

  • UNI: Vien Lien Joint Stock Company (aka ‘Unico’)

V

  • VFC: VINAFCO Corporation

  • VFMVF1: Vietnam Securities Investment Fund

  • VNM: Vietnam Dairy Products Joint Stock Company (aka ‘Vinamilk’)

  • VNR: Vietnam National Reinsurance Corporation (aka ‘Vinare’)

  • VSH: Vinh Son - Song Hinh Hydroelectric Joint Stock Company

  • VTC: VTC Telecommunications Joint Stock Company

  • VTL: Thang Long Joint Stock Company


  • VTS: Tu Son Viglacera Ceramic Joint Stock Company

  • VGG: Vietnam Global Gateway

List of African stock exchanges

This is a list of stock exchanges in Africa.


Members of the African Stock Exchanges Association (ASEA) are marked with an asterisk *.


Africa has at least one regional stock exchange, the Bourse Régionale des Valeurs Mobilières, or BRVM, in Abidjan, Cote d'Ivoire. The BRVM serves:




















































































































































































































































































































































































































































ExchangeLocationFoundedListingsLink
West African regional stock exchange


based in Côte d'Ivoire Cote d'Ivoire




Bourse Régionale des Valeurs Mobilières*Abidjan199839BRVM
Algeria Algeria



Angola Angola



Angola Stock Exchange
proposed
BVA article
Botswana Botswana



Botswana Stock Exchange*Gaborone199544BSE
Cameroon Cameroon



Douala Stock ExchangeDouala20011DSX
Cape Verde Cape Verde



Bolsa de Valores de Cabo VerdeMindelo

BVC
Egypt Egypt



Cairo & Alexandria Stock Exchange*Cairo, Alexandria1888840CASE
Ethiopia Ethiopia



Equatorial Guinea Equatorial Guinea



Gabon Gabon



The Gambia the Gambia



Ghana Ghana



Ghana Stock Exchange*Accra199028GSE
Kenya Kenya



Nairobi Stock Exchange*Nairobi195448NSE
Lesotho Lesotho



Malawi Malawi



Malawi Stock Exchange*Blantyre19958MSE
Mauritania Mauritania



Mauritius Mauritius



The Stock Exchange of Mauritius*Port Louis1988~ 40SEM
Morocco Morocco



Casablanca Stock Exchange*Casablanca192914Central Market
Mozambique Mozambique



Bolsa de Valores de Mozambique/


Maputo Stock Exchange*
Maputo

BVM
Namibia Namibia



Namibia Stock Exchange*Windhoek1992
NSX
Nigeria Nigeria



Abuja Commodities ExchangeAbuja2001
ASE
Nigerian Stock Exchange*Lagos1960282NSE
South Africa South Africa



Alternative ExchangeJohannesburg200351ALTX
Bond Exchange of South AfricaJohannesburg1989~400BESA
Johannesburg Securities Exchange*Johannesburg1887472JSE
The South African Futures ExchangeJohannesburg1990
SAFEX
Sudan Sudan



Khartoum Stock ExchangeKhartoum

KSE
Swaziland Swaziland



Swaziland Stock Exchange*Mbabane199010SSX
Tanzania Tanzania



Dar es Salaam Stock Exchange*Dar es Salaam19984DSE
Tunisia Tunisia



Bourse de TunisTunis196920BVMT
Uganda Uganda



Uganda Securities Exchange*Kampala19979USE
Zambia Zambia



Agricultural Commodities Exchange of ZambiaLusaka
ACE (ZACA#)
Lusaka Stock Exchange*Lusaka199412LuSE
Zimbabwe Zimbabwe



Zimbabwe Stock Exchange*Harare1896
ZSE

List of stock exchanges

This is a list of stock exchanges. Those futures exchanges that also offer trading in securities besides trading in futures contracts are listed both here and the List of futures exchanges.

Ten Largest Stock Exchanges by Market Capitalization (in trillions of US dollars)




  1. New York Stock Exchange (soon to be combined with Euronext) - $22.6 [1]

  2. Tokyo Stock Exchange - $4.5 [2]

  3. NASDAQ - $3.6

  4. London Stock Exchange - $3.5


  5. Euronext (soon to be combined with NYSE) - $3.3

  6. Toronto Stock Exchange - $1.83 [3]

  7. Hong Kong Stock Exchange - $1.71

  8. Frankfurt Stock Exchange (Deutsche Börse) - $1.4


  9. Madrid Stock Exchange (BME Spanish Exchanges) - $1.1

  10. SWX Swiss Exchange - $1.1




Other Large Regional Stock Exchanges by Market Capitalization (in trillions of US dollars)



Sources: Wikipedia article for each entry

Vietnam Passport & Visa Requirements

Entry requirements for Americans: US passport holders must have a valid passport and a visa is required.
Entry requirements for UK nationals: UK passport holders must have a valid passport and a visa is required.
Entry requirements for Canadians: Canadian passport holders must have a valid passport and a visa is required.
Entry requirements for Australians: Australian passport holders must have a valid passport and a visa is required.
Entry requirements for South Africans: South Africans require a valid passport and a visa.
Entry requirements for New Zealanders: New Zealand nationals require a visa and a valid passport.
Entry requirements for Irish nationals: Irish nationals require a valid passport and a visa.
Passport/Visa Note: Entry may be refused to anyone travelling on a passport of less than one month after the expiry date of a visa, if a visa is required. Otherwise passports should have six months validity. All visitors must have sufficient funds for the duration of their stay. Visitors should hold a spare passport photograph on arrival in Vietnam for use on the immigration form that must be filled out. You should retain the yellow portion of your immigration Arrival-Departure card on entry to Vietnam, as this is required for exit.

Note: Passport and visa requirements are liable to change at short notice. Travellers are advised to check their entry requirements with their embassy or consulate.

Vietnam Country Map

Vietnam Country Map:



This map of Vietnam is sourced from the CIA World Factbook. We plan to add more maps of Vietnam to our travel guide shortly.

Vietnam Health Overview

An outbreak of bird flu in 2004 claimed numerous human lives; recent outbreaks have also resulted in human fatalities. Avian flu in poultry has now spread to numerous provinces and cities across Vietnam. All care should be taken to avoid contact with live poultry and visitors are advised to exercise caution when eating poultry dishes, particularly raw or undercooked poultry products. Other health risks in the country include Hepatitis A and E, typhoid, Japanese encephalitis, dengue fever, bilharzia, diarrhoea, meningitis, rubella and HIV/AIDS. Malaria prophylaxis is recommended for travel outside the main cities and towns, the Red River delta and north of Nha Trang. There has been an increase in the amount of deaths relating to dengue fever in recent months, and visitors should take care to protect themselves from mosquito bites during the day, especially just after dawn and just before dusk, particularly in the southern Mekong Delta region. Travellers should seek medical advice about vaccinations at least three weeks before leaving for Vietnam and ensure they have adequate insect protection. Typhoid can be a problem in the Mekong Delta. Those arriving from an infected area require a yellow fever vaccination certificate. Water is potable, but visitors usually prefer to drink bottled water. Decent health care is available in Hanoi and Ho Chi Minh City (Saigon) with English-speaking doctors, and there is a surgical clinic in Da Nang, but more complicated treatment may require medical evacuation. Pharmacies throughout the country are adequate, but check expiry dates of medicines carefully. Health insurance is essential.

View information on diseases: Schistosomiasis (bilharzia), Malaria, Japanese encephalitis, HIV/AIDS and Sexually Transmitted Diseases, Hepatitis E, Hepatitis A, Dengue Fever, Typhoid fever

Schistosomiasis (bilharzia)

Cause: Several species of parasitic blood flukes (trematodes), of which the most important are Schistosoma mansoni, S. japonicum and S. haematobium. Transmission: Infection with bilharzia occurs in fresh water containing larval forms (cercariae) of schistosomes, which develop in snails. The free-swimming larvae penetrate the skin of individuals swimming or wading in water. Snails become infected as a result of excretion of eggs in human urine or faeces. Nature of the disease: Chronic conditions in which adult flukes live for many years in the veins (mesenteric or vesical) of the host where they produce eggs, which cause damage to the organs in which they are deposited. The symptoms of bilharzias depend on the main target organs affected by the different species, with S. mansoni and S. japonicum causing hepatic and intestinal signs and S. haematobium causing urinary dysfunction. The larvae of some schistosomes of birds and other animals may penetrate human skin and cause a self-limiting dermatitis, "swimmers itch". These larvae are unable to develop in humans. Geographical distribution: S. mansoni occurs in many countries of sub-Saharan Africa, in the Arabian peninsula, and in Brazil, Suriname and Venezuela. S. japonicum is found in China, in parts of Indonesia, and in the Philippines (but no longer in Japan). S. haematobium is present in sub-Saharan Africa and in eastern Mediterranean areas. Risk for travellers: In endemic areas, travellers are at risk to bilharzias while swimming or wading in fresh water. Prophylaxis (protective treatment): None. Precautions: Avoid direct contact (swimming or wading) with potentially contaminated fresh water in endemic areas. In case of accidental exposure, dry the skin vigorously to reduce penetration by cercariae. Avoid drinking, washing, or washing clothing in water that may contain cercariae. Water can be treated to remove or inactivate cercariae by paper filtering or use of iodine or chlorine. Source: WHO.

Malaria

General considerations: Malaria is a common and life-threatening disease in many tropical and subtropical areas. It is currently endemic in over 100 countries, which are visited by more than 125 million international travellers every year. Each year many international travellers fall ill with malaria while visiting countries where the disease is endemic, and well over 10,000 fall ill after returning home. Fever occurring in a traveller within three months of leaving a malaria-endemic area is a medical emergency and should be investigated urgently. Cause: Human malaria is caused by four different species of the protozoan parasite Plasmodium: Plasmodium falciparum, P. vivax, P. ovale and P. malariae. Transmission: The malaria parasite is transmitted by various species of Anopheles mosquitoes, which bite mainly between sunset and sunrise. Nature of the disease: Malaria is an acute febrile illness with an incubation period of 7 days or longer. Thus, a febrile illness developing less than one week after the first possible exposure is not malaria. The most severe form is caused by P. falciparum, in which variable clinical features include fever, chills, headache, muscular aching and weakness, vomiting, cough, diarrhoea and abdominal pain; other symptoms related to organ failure may supervene, such as: acute renal failure, generalized convulsions, circulatory collapse, followed by coma and death. It is estimated that about 1% of patients with P. falciparum infection die of the disease. The initial symptoms, which may be mild, may not be easy to recognize as being due to malaria. It is important that the possibility of falciparum malaria is considered in all cases of unexplained fever starting at any time between the seventh day of first possible exposure to malaria and three months (or, rarely, later) after the last possible exposure, and any individual who experiences a fever in this interval should immediately seek diagnosis and effective treatment. Early diagnosis and appropriate treatment can be life-saving. Falciparum malaria may be fatal if treatment is delayed beyond 24 hours. A blood sample should be examined for malaria parasites. If no parasites are found in the first blood film but symptoms persist, a series of blood samples should be taken and examined at 6-12-hour intervals. Pregnant women, young children and elderly travellers are particularly at risk. Malaria in pregnant travellers increases the risk of maternal death, miscarriage, stillbirth and neonatal death. The forms of malaria caused by other Plasmodium species are less severe and rarely life-threatening. Prevention and treatment of falciparum malaria are becoming more difficult because P. falciparum is increasingly resistant to various antimalarial drugs. Of the other malaria species, drug resistance has to date been reported for P. vivax, mainly from Indonesia (Irian Jaya) and Papua New Guinea, with more sporadic cases reported from Guyana. P. vivax with declining sensitivity has been reported for Brazil, Colombia, Guatemala, India, Myanmar, the Republic of Korea, and Thailand. P. malariae resistant to chloroquine has been reported from Indonesia. Geographical distribution: The risk for travellers of contracting malaria is highly variable from country to country and even between areas in a country. In many endemic countries of Latin America and the Caribbean, Asia and the Mediterranean region, the main urban areas, but not necessarily the outskirts of towns, are free of malaria transmission. However, malaria can occur in main urban areas in Africa and India. There is usually less risk of the disease at altitudes above 1,500 metres, but in favourable climatic conditions it can occur at altitudes up to almost 3,000 metres. The risk of infection may also vary according to the season, being highest at the end of the rainy season. There is no risk of malaria in many tourist destinations in South-East Asia, Latin America and the Caribbean. Source: WHO.

Japanese encephalitis

Cause: Japanese encephalitis (JE) virus, which is a flavivirus. Transmission: The Japanese encephalitis virus is transmitted by various mosquitoes of the genus Culex. It infects pigs and various wild birds as well as humans. Mosquitoes become infective after feeding on viraemic pigs or birds. Nature of the disease: Most infections are asymptomatic (e.g. cause no symptoms). In symptomatic cases, severity varies; mild infections are characterized by febrile headache or aseptic meningitis. Severe cases have a rapid onset and progression, with headache, high fever and meningeal signs. Permanent neurological sequelae are common among survivors. Approximately 50% of severe clinical cases have a fatal outcome. Geographical distribution: Japanese encephalitis occurs in a number of countries in Asia and occasionally in northern Queensland, Australia. Risk for travellers: Low for most travellers. Visitors to rural and agricultural areas in endemic countries may be at risk, particularly during epidemics of JE. Prophylaxis (protective treatment): Vaccination, if justified by likelihood of exposure. Precautions: Avoid mosquito bites.

Source: WHO.

HIV/AIDS and Sexually Transmitted Diseases

The most important sexually transmitted diseases and infectious agents are HIV/AIDS, hepatitis B, syphilis, gonorrhoea, chlamydia infections, trichomoniasis, chancroid, genital herpes and genital warts. Transmission: Infection occurs during unprotected sexual intercourse. Hepatitis B, HIV and syphilis may also be transmitted in contaminated blood and blood products, by contaminated syringes and needles used for injection, and potentially by unsterilized instruments used for acupuncture, piercing and tattooing. Nature of the diseases: Most of the clinical manifestations are included in the following syndromes: genital ulcer, pelvic inflammatory disease, urethral discharge and vaginal discharge. However, many infections are asymptomatic. Sexually transmitted infections are a major cause of acute illness, infertility, long-term disability and death, with severe medical and psychological consequences for millions of men, women and children. Apart from being serious diseases in their own right, sexually transmitted infections increase the risk of HIV infection. The presence of an untreated disease (ulcerative or non-ulcerative) can increase by a factor of up to 10 the risk of becoming infected with HIV and transmitting the infection. On the other hand, early diagnosis and improved management of other sexually transmitted infections can reduce the incidence of HIV infection by up to 40%. Prevention and treatment of all sexually transmitted infections are therefore important for the prevention of HIV infection. Geographical distribution: Worldwide. Sexually transmitted infections have been known since ancient times; they remain a major public health problem, which was compounded by the appearance of HIV/AIDS around 1980. An estimated 340 million episodes of curable sexually transmitted infections (chlamydial infections, gonorrhoea, syphilis, trichomoniasis) occur throughout the world every year. Viral infections, which are more difficult to treat, are also very common in many populations. Genital herpes is becoming a major cause of genital ulcer, and subtypes of the human papillomavirus are associated with cervical cancer. Risk for travellers: For some travellers there may be an increased risk of infection. Lack of information about risk and preventive measures and the fact that travel and tourism enhance the probability of having sex with casual partners increase the risk of exposure to sexually transmitted infections. In some developed countries, a large proportion of sexually transmitted infections now occur as a result of unprotected sexual intercourse during international travel. In addition to transmission through sexual intercourse (both heterosexual and homosexual-anal, vaginal or oral), most of these infections can be passed on from an infected mother to her unborn or newborn baby. Hepatitis B, HIV and syphilis are also transmitted through transfusion of contaminated blood or blood products and the use of contaminated needles. There is no risk of acquiring any sexually transmitted infection from casual day-to-day contact at home, at work or socially. People run no risk of infection when sharing any means of communal transport (e.g. aircraft, boat, bus, car, train) with infected individuals. There is no evidence that HIV or other sexually transmitted infections can be acquired from insect bites. Prophylaxis: There is a vaccination against hepatitis B. No prophylaxis is available for any of the other sexually transmitted diseases. Precautions: Male or female condoms, when properly used, have proved to be effective in preventing the transmission of HIV and other sexually transmitted infections, and for reducing the risk of unwanted pregnancy. Latex rubber condoms are relatively inexpensive, are highly reliable and have virtually no side-effects. The transmission of HIV and other infections during sexual intercourse can be effectively prevented when high-quality condoms are used correctly and consistently. Studies on serodiscordant couples (only one of whom is HIV-positive) have shown that, with regular sexual intercourse over a period of two years, partners who consistently use condoms have a near-zero risk of HIV infection. A man should always use a condom during sexual intercourse, each time, from start to finish, and a woman should make sure that her partner uses one. A woman can also protect herself from sexually transmitted infections by using a female condom - essentially, a vaginal pouch, which is now commercially available in some countries. It is essential to avoid injecting drugs for non-medical purposes, and particularly to avoid any type of needle-sharing to reduce the risk of acquiring hepatitis, HIV, syphilis and other infections from contaminated needles and blood. Medical injections using unsterilized equipment are also a possible source of infection. If an injection is essential, the traveller should try to ensure that the needles and syringes come from a sterile package or have been sterilized properly by steam or boiling water for 20 minutes. Patients under medical care who require frequent injections, e.g. diabetics, should carry sufficient sterile needles and syringes for the duration of their trip and a doctor's authorization for their use. Unsterile dental and surgical instruments, needles used in acupuncture and tattooing, ear-piercing devices, and other skin-piercing instruments can likewise transmit infection and should be avoided. Treatment: Travellers with signs or symptoms of a sexually transmitted disease should cease all sexual activity and seek medical care immediately. The absence of symptoms does not guarantee absence of infection, and travellers exposed to unprotected sex should be tested for infection on returning home. HIV testing should always be voluntary and with counselling. The sexually transmitted infections caused by bacteria, e.g. chancroid, chlamydia, gonorrhoea and syphilis, can be treated successfully, but there is no single antimicrobial that is effective against more than one or two of them. Moreover, throughout the world, many of these bacteria are showing increased resistance to penicillin and other antimicrobials. Treatment for sexually transmitted viral infections, e.g. hepatitis B, genital herpes and genital warts, is unsatisfactory due to lack of specific medication, and cure is difficult to achieve. The same is true of HIV infection, which in its late stage causes AIDS and is thought to be invariably fatal. Antiretroviral drugs cannot completely eradicate the HIV virus; treatment is expensive and complex and most countries have only a few centres that are able to provide it. Source: WHO.

Hepatitis E

Cause: Hepatitis E virus, which has not yet been definitively classified (formerly classified as Caliciviridae). Transmission: Hepatitis E is a waterborne disease usually acquired from contaminated drinking water. Direct faecal-oral transmission from person to person is also possible. There is no insect vector. It is suspected, but not proved, that hepatitis E may have a domestic animal reservoir host, such as pigs. Nature of the disease: The clinical features and course of the disease are generally similar to those of hepatitis A. As with hepatitis A, there is no chronic phase. Young adults are most commonly affected. In pregnant women there is an important difference between hepatitis E and hepatitis A: during the third trimester of pregnancy, hepatitis E takes a much more severe form with a case-fatality rate reaching 20%. Geographical distribution: Worldwide. Most cases, both sporadic and epidemic, occur in countries with poor standards of hygiene and sanitation. Risk for travellers: Travellers to developing countries may be at risk of hepatitis E when exposed to poor conditions of sanitation and drinking water control. Prophylaxis (protective treatment): None. Precautions: Travellers should follow the general conditions for avoiding potentially contaminated food and drinking-water. Source: WHO.

Hepatitis A

Cause: Hepatitis A virus, a member of the picornavirus family. Transmission: The virus is acquired directly from infected persons by the faecal-oral route or by close contact, or by consumption of contaminated food or drinking water. There is no insect vector or animal reservoir (although some non-human primates are sometimes infected). Nature of the disease: An acute viral hepatitis with abrupt onset of fever, malaise, nausea and abdominal discomfort, followed by the development of jaundice a few days later. Infection in very young children is usually mild or asymptomatic (e.g. causes no symptoms); older children are at risk of symptomatic disease. The disease is more severe in adults, with illness lasting several weeks and recovery taking several months; case-fatality is greater than 2% for those over 40 years of age and 4% for those over 60. Geographical distribution: Worldwide, but most common where sanitary conditions are poor and the safety of drinking water is not well controlled. Risk for travellers: Non-immune travellers to developing countries are at significant risk of infection. The risk is particularly high for travellers exposed to poor conditions of hygiene, sanitation and drinking water control. Prophylaxis (protective treatment): Vaccination. Precautions: Travellers who are non-immune to hepatitis A (i.e. have never had the disease and have not been vaccinated) should take particular care to avoid potentially contaminated food and water. Source: WHO.

Dengue Fever

Cause: The dengue virus - a flavivirus of which there are four serotypes. Transmission: Dengue fever is transmitted by the Aedes aegypti mosquito, which bites during daylight hours. There is no direct person-to-person transmission. Monkeys act as a reservoir host in south-east Asia and west Africa. Nature of the disease: Dengue occurs in three main clinical forms: Dengue fever is an acute febrile illness with sudden onset of fever, followed by development of generalized symptoms and sometimes a macular skin rash. It is known as "breakbone fever" because of severe muscular pains. The fever may be biphasic (i.e. two separate episodes or waves of fever). Most patients recover after a few days; Dengue haemorrhagic fever has an acute onset of fever followed by other symptoms resulting from thrombocytopenia, increased vascular permeability and haemorrhagic manifestations; Dengue shock syndrome supervenes in a small proportion of cases. Severe hypotension develops, requiring urgent medical treatment to correct hypovolaemia. Without appropriate treatment, 40-50% of cases are fatal; with timely therapy, the mortality rate is 1% or less. Geographical distribution: Dengue fever is widespread in tropical and subtropical regions of central and south America and south and south-east Asia and also occurs in Africa; in these regions, dengue is limited to altitudes below 600 metres (2,000 feet). Risk for travellers: There is a significant risk for travellers in areas where dengue fever is endemic and in areas affected by epidemics of dengue. Prophylaxis (protective treatment): None. Precautions: Travellers should take precautions to avoid mosquito bites both during the day and at night in areas where dengue occurs. Source: WHO.

Typhoid fever

Cause: Salmonella typhi, the typhoid bacillus, which infects only humans. Similar paratyphoid and enteric fevers are caused by other species of Salmonella, which infect domestic animals as well as humans. Transmission: Infection with typhoid fever is transmitted by consumption of contaminated food or water. Occasionally direct faecal-oral transmission may occur. Shellfish taken from sewage-polluted beds are an important source of infection. Infection occurs through eating fruit and vegetables fertilized by night soil and eaten raw, and milk and milk products that have been contaminated by those in contact with them. Flies may transfer infection to foods, resulting in contamination that may be sufficient to cause human infection. Pollution of water sources may produce epidemics of typhoid fever, when large numbers of people use the same source of drinking water. Nature of the disease: Typhoid fever is a systemic disease of varying severity. Severe cases are characterized by gradual onset of fever, headache, malaise, anorexia and insomnia. Constipation is more common than diarrhoea in adults and older children. Without treatment, the disease progresses with sustained fever, bradycardia, hepatosplenomegaly, abdominal symptoms and, in some cases, pneumonia. In white-skinned patients, pink spots (papules), which fade on pressure, appear on the skin of the trunk in up to 50% of cases. In the third week, untreated cases develop additional gastrointestinal and other complications, which may prove fatal. Around 2-5% of those who contract typhoid fever become chronic carriers, as bacteria persist in the biliary tract after symptoms have resolved. Geographical distribution: Worldwide. The disease occurs most commonly in association with poor standards of hygiene in food preparation and handling and where sanitary disposal of sewage is lacking. Risk for travellers: Generally low risk for travellers, except in parts of north and west Africa, in south Asia and in Peru. Elsewhere, travellers are usually at risk only when exposed to low standards of hygiene with respect to food handling, control of drinking water quality, and sewage disposal. Prophylaxis (protective treatment): Vaccination. Precautions: Observe all precautions against exposure to foodborne and waterborne infections.

Source: WHO.

Promulgated by the Governor of the State Bank of the Socialist

DECISION OF THE GOVERNOR OF THE STATE BANK Of VIETNAM ON THE PROMULGATION OF THE REGULATION ON SHORT TERM CREDITS FOR ECONOMIC ORGANIZATIONS No. 198/QD-NH.1

(Promulgated by the Governor of the State Bank of the Socialist Republic of Vietnam on September 16, 1994)




SUBJECT: BANKING AND FINANCE


ISSUING-DEPT: GOVERNOR OF THE STATE BANK OF VIETNAM


ISSUE-DATE: 09/16/1994


IMPLEMENT-DATE: 09/16/1994


LENGTH: 428 words


TEXT:


The Governor of the State Bank of Vietnam


Pursuant to the Ordinance on State Bank of Vietnam issued in connection
with Order No.37/HDNN8, the ordinance on Banks, Credit Cooperatives
and financial Corporations issued in connection with the Order No.38/HDNN8
dated May 24th, 1990 of the President of the State Council of the Socialist Republic of Vietnam.

Pursuant to the Decree No. 15/CP dated March 2nd, 1993 of the Government stipulating the task, powers and responsibilities for the State management of the Ministries and Ministerial-ranking bodies.

On the proposal of the Director of the Credit Department for conomic studies.

DECIDED

Article 1 :

To promulgate in connection with this Decision The Regulation on
Short - term credits for economic organizations.

Article 2 :

The Regulation on short - term credits issued in connection with
this Decision are generally applied to State Commercial Banks, Investment
and Development Banks. Commercial Stock Banks, Joint - venture Banks.
Branches of foreign Banks in Vietnam, Credit Cooperatives, financial
Corporations operating in accordance with the ordinance on banks,
credit cooperatives and financial corporations.

Article 3 :

This Decision shall come into effect from the signing date and replace:
the Regulation on short term credit for economic organizations issued
in connection with Decision No.04/QD-NH dated January 8th, 1991 and
other documents relating to this Regulation.

Article 4 :

The Chief of Governor's Office, the General Inspector of the State
Bank, Heads of the sections belonging to the Central State Bank, the
Directors of the provincial and city State Banks, the General Directors
(Directors) of State Commercial Banks, Investm ent and Development
Banks, Commercial Stocks Banks, financial Corporations, joint venture
Banks, the branches of foreign banks in Vietnam and managers of credit
cooperatives shall be responsible for the implementation of this decision.

for The State Bank of Vietnam Governor CAO SY KIEM (Signed)

Vietnam Basics

Time: GMT +7.
Electricity: 220 volts, 50Hz. Plugs are either the two flat-pin or the two round-pin type. Three rectangular blade plugs can be found in some of the newer hotels.
Language: The official language is Vietnamese. Some Chinese, English and French are spoken. Tour guides can also speak Russian and Japanese. Numerous ethnic languages are also spoken in parts.
Health: An outbreak of bird flu in 2004 claimed numerous human lives; recent outbreaks have also resulted in human fatalities. Avian flu in poultry has now spread to numerous provinces and cities across Vietnam. All care should be taken to avoid contact with live poultry and visitors are advised to exercise caution when eating poultry dishes, particularly raw or undercooked poultry products. Other health risks in the country include Hepatitis A and E, typhoid, Japanese encephalitis, dengue fever, bilharzia, diarrhoea, meningitis, rubella and HIV/AIDS. Malaria prophylaxis is recommended for travel outside the main cities and towns, the Red River delta and north of Nha Trang. There has been an increase in the amount of deaths relating to dengue fever in recent months, and visitors should take care to protect themselves from mosquito bites during the day, especially just after dawn and just before dusk, particularly in the southern Mekong Delta region. Travellers should seek medical advice about vaccinations at least three weeks before leaving for Vietnam and ensure they have adequate insect protection. Typhoid can be a problem in the Mekong Delta. Those arriving from an infected area require a yellow fever vaccination certificate. Water is potable, but visitors usually prefer to drink bottled water. Decent health care is available in Hanoi and Ho Chi Minh City (Saigon) with English-speaking doctors, and there is a surgical clinic in Da Nang, but more complicated treatment may require medical evacuation. Pharmacies throughout the country are adequate, but check expiry dates of medicines carefully. Health insurance is essential.
Tipping: Most restaurants and hotels now add a 5 to 10% service charge to their bills, but a further 5% for good service is greatly appreciated in more upmarket places. In top hotels porters expect a small tip. Hired drivers and guides are usually tipped, and it is customary to round up the bill for taxi drivers in the cities. Tipping is not generally expected, but some small change for most services is appreciated.
Safety: Travel in Vietnam is generally safe and violent crime is uncommon. Pick-pocketing is rife, and in Ho Chi Minh City (Saigon) drive-by purse snatching is a common trick. When transferring from airports only use pre-arranged hotel pickups or licensed taxis to avoid theft from opportunists. It is best to leave valuables in a secure hotel safe and avoid obvious displays of wealth. During the monsoon season (usually between June and October) the country is prone to serious flooding and typhoons (until December), particularly the Mekong Delta and Central Region, and has resulted in isolation of areas and damage to infrastructure.
Customs: Shorts should be avoided away from the beaches if possible. Shoes must be removed on entering religious sites and a donation is expected when visiting a temple or pagoda. Photography is restricted at ports, harbours and airports, and it is polite to ask permission before taking photographs of people, especially of ethnic minorities. Never leave chopsticks sticking upright in a bowl of rice as it has strong death connotations.
Business: Business practices in Vietnam are conducted in a similar fashion to those of China, Japan and Korea rather than their Southeast Asian counterparts. Pride and tact are important to bear in mind, as practices tend to be formalised more so than in Western countries. Often it is best to be introduced rather than approach the person with whom business is intended for fear of suspicion. Negotiations and settlements may take longer as the Vietnamese like to examine contracts thoroughly. Formal dress is common but in summer months the dress tends to be more casual. It is important to be on time for business appointments as the Vietnamese consider lateness rude. The person is always addressed as Mr., Mrs., and Ms., followed by their personal name (not family name), unless otherwise referred. It is worth finding out in advance. Shaking hands with both hands is the most respectful greeting although bowing is still popular among the older population, and meetings always begin with the exchange of business cards, which should be given and received with both hands; each person expects to receive one, so be sure to bring a vast supply. Business hours are typically 8am to 5pm Monday to Friday with an hour taken at lunch, and 8am to 11.30am on Saturdays.
Communications: The international country code is +84. The outgoing code is 00, followed by the relevant country code (e.g. 001 for the United States or Canada). City/area codes are in use, e.g. Hanoi is (0)4 and Ho Chi Minh City is (0)8. GSM 900 mobile networks cover the major urban areas. Internet cafes are available in Hanoi, Ho Chi Minh City and Internet access is often available at post offices in rural areas.
Duty Free: Travellers to Vietnam over 18 years do not have to pay duty on the following items: 400 cigarettes, 100 cigars or 500g tobacco; 1.5 litres alcohol with alcohol content higher than 22% and 2 litres below 22%; up to 5kg tea and 3kg coffee; perfume and items for personal consumption within reasonable amounts; other goods to the value of 5 million Vietnamese dong.