“Nothing is what it seems in Vietnam. Our Chamber is your experienced and trustworthy guide.”

With the Belgian-Luxembourg Chambers of Commerce abroad, the Chambers in Belgium have a strong foreign network that can help their members in their international activities. Time has come to put this network in the spotlight. After previous interviews with the Chambers in London, Japan and Morocco, we would now like to introduce Bart Verheyen, President of the Belgo-Luxembourg Chamber of Commerce (Beluxcham) in Vietnam.

What kind of developments are taking place in Vietnam that could be of interest to Belgian companies?

Bart Verheyen: It is a rapidly growing country with almost 100 million inhabitants and a very young population. A quarter are younger than 14 years old; 69% are between 15 and 64 years old. The middle class is growing and has considerable purchasing power. The core of society revolves around the family.

The country has signed a free trade agreement (FTA) with the EU. It is the most comprehensive free trade agreement that Europe has ever concluded with a middle-income country, setting a global standard for future free trade agreements.

Despite the Covid-19 pandemic, Vietnam still has positive GDP growth of 2.9% for the full year 2021. For the last quarter of 2021, we even record +5.2%.

It is a very resilient economy where everybody has more than one job.

Do’s and dont’s: what should one pay attention to?

BV: There is no such thing as one source of information when you first arrive in Vietnam.  Information is fragmented and you need to connect the different “dots”. At Beluxcham we can certainly help you with that.

Important lessons that I have learned myself over the years are the following:

  • Always scratch the surface of (especially government) data and find out what is really going on underneath.  Here too, the help and experience of the Chamber is fundamental.
  • Vietnam is a country where nothing is what it seems to be, hence the absolutely crucial importance of having an extensive network to get the fullest possible picture. You can look at this negatively: Vietnam is the land of broken dreams.  But viewed through a positive lens: if you are willing to set up a long-term business in Vietnam and accept that a Vietnamese adventure will eventually cost you more than originally estimated, then Vietnam offers incredible opportunities.
  • Also pay attention to the formalities and observe them: without business cards, you are nobody in Vietnam.  If someone offers you their business card, always accept it with both hands.  Always keep the business card visible on the table during negotiations and do NOT write on it during your meeting.
  • During negotiations, ideally the most experienced person should sit in the middle of the table.  More junior staff sit to the left and right of the senior person. Try to match the number of participants from the other party in a meeting with the same number of people from your side. This is interpreted as a sign of respect.

What should we know about Beluxcham?

BV: Beluxcham was founded in 2003, so it will be 20 years next year. In a very short time, we have doubled the number of members to 65, but more importantly, we now have more small and large companies, where in the past, mainly individuals were members. So the Chamber is evolving quickly.
Beluxcham is also a founding member of the inter-Asian chamber network, which currently has 14 Belgian-Luxembourg chambers in Asia, which work well together. We also work closely with our sister organisation in Brussels, the Belgian Vietnamese Alliance (BVA), so that we can offer (potential) members solutions from A to Z, from Belgium, Luxembourg, Europe to Vietnam and vice versa.

Be aware there is also a unique cooperation with the Belgian customs attaché in Jakarta (Indonesia), who is also responsible for Vietnam. This is of golden value, especially with the EVFTA.

The Chamber has 9 dedicated board members and 1 paid office employee. Each board member looks after 5 to 15 members.  The board members serve as the first point of contact and ensure that we get input on what the members really find important

Bart Verheyen

Born in Antwerp, Bart Verheyen moved to Vietnam in 2007.

Until 2013 he was Procurement Director Food METRO Cash&Carry Vietnam cum Vice President METRO Group.
Since 2014, he is Commercial Director of MEDiCARE Vietnam.

In August 2020, he also became Chairman of BELUXCHAM. Since then the chamber has grown into a continuously growing and dynamic BLCCA.

Vietnam is a rapidly growing country with nearly 100 million inhabitants and a very young population.
Despite the Covid-19 pandemic, Vietnam still has a positive GDP growth rate of 2.9% for the full year 2021.
It is a very resilient economy where everyone has more than one job.

How does the Chamber concretely help Belgian companies that are active in Vietnam or want to become active there?

BV: As a relatively small but strongly growing Chamber, our range of benefits and services continues to grow. Especially for newcomers we offer:

  • Free market research through our cooperation with the main international university in Vietnam;
  • An ever-expanding starter package: we help you make initial contacts with potential suppliers, HR companies, accountants, law firms;
  • 24/7 direct access to all members through your designated board account;

Perhaps most importantly: we try to provide tailor-made solutions according to the specific needs of your company: after all, your success in Vietnam is also our success.

The Belgian-Luxembourg Chamber of Commerce in Vietnam is one of the 30 Belgian-Luxembourg Chambers of Commerce (BLCCA) accredited by the Belgian Chambers of Commerce. They contribute to the promotion of bilateral trade between Belgium, Luxembourg and the country where they are located. The Chambers are made up of entrepreneurs who know what it is like to run a business abroad. They offer a voice, support and help entrepreneurs with practical issues when exploring new markets abroad.

Discover the other Chambers abroad!

Belgian-Luxembourg Chamber of Commerce in Vietnam

beluxcham.com | info@beluxcham.com | +84 28 38 2240 29

The Belgian and Luxembourg Chamber of Commerce in Vietnam
5th Floor, the Deutsches Haus,
33 Le Duan Blvd, District 1, Ho Chi Minh-City Vietnam
Working Hours: 09:00 AM – 11:30 AM/ 01:30 – 05:00

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