🤣🤣⛔ Hey Ding Duong...the US deep state buy your benz?! how many people did you loot to buy the benz...ITS TRIPLE THE PRICE IN VN! VN IS becoming the philippines...go get a happy ending, stay at a cheap lux hotel for a few days to get your freak on and go home after trashing the country! I would never by a property in VN ...duhhh its a scam. YOU'RE A SCAM!
🤣🤣⛔ Hey Ding Duong...the US deep state buy your benz?! how many people did you loot to buy the benz...ITS TRIPLE THE PRICE IN VN! VN IS becoming the philippines...go get a happy ending, stay at a cheap lux hotel for a few days to get your freak on and go home after trashing the country! I would never by a property in VN, philippines, Thailand, India.. ...duhhh its a scam. YOU'RE A SCAM! Let's hope it doesn't become a vassal of the US..then, the military diseases will totally destroy VN.
Which country isn't ? You sound bitter sounds like you failed hard and expected to be treated special 😢.and all you did was hand people money. Or just another LBH that would never have money to invest.. I'll wait to know which country is pure 😊
@@Chr1s808 i just left japan.. beautiful country. couldnt tell the diff between the robots and people.. japan is doing great, this past summer they passed a law saying foreign worker were now seen as human. but still not allowed in some areas..knock yourself with that buffet of racism
Interesting,,, I'm from the Philippines but have been based in d west for more than 2 decades but planning to move back and set up business, I believe Vietnam n The Philippines have similarities, so this blog has given me informative inputs. Just subscribed.😊
As an American who has been here in Saigon more than 30 years and who is now retired and content to remain here… respectfully suggested… never generalize about anything. Rather take every person and every situation and judge them on their individual merits. With respect to starting a business… again… respectfully suggested that before investing in anything that you work at least two or three years in the business and learn the ropes. Something as simple as a food shop has a million issues to understand from human relations, food preparation and safety, marketing and presenting the product in an appealing way, how to get along with landlords, authorities etc etc etc.
You can very easily compare Vietnam and Thailand as he makes very clear by figures and personal experiences by many tourists. You obviously don't like what he's saying, only. I agree with what people are saying about scams and the bad people there.
Amazing. Absolutely amazing. Thanks for sharing. I fully support and believe in you. One day I will need you support and advise… Greetings from Germany 🇩🇪.
It’s unfortunate some experience that Ken has over the years in VN. I have to say some of his experiences are true. My advices for those interested in investing in VN are as follows: . In selecting partners, do not go for those aspiring business men (they may take you for a ride) , select those that have sustainable businesses n good track records. You’ll be surprised how many good n honest business people you can find Vietnam. Go for those that are selective in business partners. . Dont let appearances deceive you. I know many wealthy Vietnamese ride normal cars/ motorbikes or dressing very ordinary (not flashy). They don’t care. That’s where you may find some valuable connections. . In businesses always check your accountings/ sources, honest business people expect you to do that. If you dont, they’ll not respect you or you maybe asking for trouble.
@@Fakir497what I can tell you is I work for a private owned liquor wholesaler/ distributor . We sell liquor mostly on credit n only get full payment months after. We’ve never lost a dime because we’re very good at selecting partners. One time , a customer who is a bar owner got into trouble with the law. We thought we lost all the money he bought liquor from us on credit (billions Dong) because he was being investigated. 2 years later he came back n returned all in full amount. He didn’t have to because we thought he was bankrupt. We’re still business partners til today. You may be suprised how many similar cases I’ve come across over the years working in wholesale. When you meet serious people, you’ll know.
from one businessman to another businessman. we all made mistakes in the beginning and never gives up and enjoy the journey. hope we can meet this year and chat
Great video. I love Vietnam, been there 5 times now in the past 2 years. I'm glad I followed you now because your videos and input are very valuable. Cảm ơn rất nhiều!
That was excellent free advice that could be applied in any business environment, especially cross cultural. Just change the condiments to suit. Real wealth isn't flaunted. The only people who don't make mistakes are those who don't do anything. Don't trust too much. Family security first.
I started investing in property from 2001 in China because my wife is HK and can buy. I reckon I made around Rmb10M and also started a business that made Rmb2.8M annually for 11 years before we stopped. Overall it was an incredible ride. We sold all before 2020 because I could see a bubble. Everything was quite transparent and according to law.
I don't know much about the social, economic and environmental factors influencing Vietnam. However, you've really enlightened me by sharing your experience. Thanks
It takes a lot of courage to be honest about failures . It is great to finally see a honest review on the difficulties and opportunities when investing in Vietnam.
Another great episode , wise advice and great tips and warnings. I did want to open a small hotel in Vietnam about 5-7 years ago, then I learned more about how business works in Vietnam as all the requirements and how over priced land is in vietnam to own (With a partner) and building or buying a building. and how difficult the Vietnamese Government make it to take your OWN money back out of the vietnam banking system. Then even opening a local business catering to locals has to be right niche , business model. etc. open a club VS a banh mi stand. open a retail store, factory, etc. Partners and friends who want to cheat you with money. Scamming real estate agents. etc.. At this point I'd just invest only what I can afford to lose. Most profitable business type I've narrowed down to is to hire a small staff to do customer service to my online businesses aboard, or for manufacturing, or IT local to overseas client. or just a full brown V.A. service company.
Another great insight! Thanks. Beyond business fundamentals, may I add integrity, perseverance and self-fulfillment in a realistic and everchanging environment, geopolitically, socially, etc... Lastly, you will do best when you enjoy what you are doing.
The problem with small firms investing in Vietnam is getting butchered when getting fatter by a local authority! That's what has happened to overseas Vietnamese businesspeople in many years already. 😞
Hi Ken, Portugal is supposed to be the 5th most honest and safe country worldwide. My experience there is similar to yours here--except I also had an agent break into my apartment and steal about $4000 USD. That was just one issue. So much for honesty in Portugal. That's why I am here in Vietnam. I love Vietnam and would love to invest here but "once burned, twice shy". In addition, I cannot get a long term visa. That makes any serious investment difficult. I never had the issues anywhere that I had in Portugal. BTW, I haven't had anyone break into my apartment and steal yet here in Vietnam :).I trust too much, too.
14:47 I met a former diplomat from a Scandinavian country who was based in Hanoi. He told me all the money his country gives to Viet non-profits goes to the pockets of private individuals. The sick part is that this is an open secret and embassies just do nothing about it. Why? Because the public sector just wants to spend money in order to get a bigger budget the next year. The money these embassies don’t spend is deducted from next year’s aid budget and they get less money. Unlike the private sector that tries to reduce costs the public sector just burns money.
Doing business successfully is always challenging anywhere in the world. However, in Vietnam, an additional challenge (and usually is the main one) is dealing with the VCP. You just can't trust them but yet you have to work with them. In other words, they are always your "partner" who can help you but also can stab you in the back anytime during your journey.
Vietnam had always been corrupt, even before 1975. So I asked a Vietnamese businesswoman if there are still bribery in Vietnam. She said, "If there is no corruption, it is not Vietnam!"
In all countriew, stealing foreigners will be common, specially in poor countries with a high social inequality. This is part of humans nature in order to survive or being greedy taking advantage of other people.
Finally! Someone who actually calls it like is! Real honest truth about what the culture and mentality is. I did my research for 2 years before i was told its a scammers paradise. Its really unfortunate but if the shoe fits....🤣
Your comment near timestamp 36:19 "we have a lot more people to help" is the primary seed that was important for your company's growth. Some individuals in your past were focused on how they could help themselves, which cannot be ignored, but needs to be at the bottom of the goals list.
It does not matter where you invest your money , you should have to research all aspects . Asia countries have very similar corruption and scams in lots of countries. It was very sad to hear that , and it did happen. Asia is not only the country has 13 months' salary, France also does. . Hope things can get better in the futures
Ken... I've been watching your videos for quite sometime now... and to be frank with you... some I like...some I don't... but today I'm going press on the "Subscribe" button, not because of your "com tam" offer :-) but for your great stories and great advices. I wish you the best.
Ken, I have three comments: 1- Thanks for your honest input good/bad experiences. 2- 100,000 VND voucher to subscribe to your channel is called BRIBERY. 3- All these stealing, corruptions and monkey businesses in Vietnam I am surprised you did not blame on CHINA !!!
Hi, Great video. I had a deal to open a liquor shop in D3. Unfortunately the deal fell through, lost $3500 (deposit+1 mnth), website, designer. Not a lot of money but it was a good opportunity that was wasted. The lawyer who brokered the deal was dishonest. I learned a lesson. Vietnam is a difficult place to do business but there is a lot of opportunity. Where is your bar ?? Thanks
My Thoughts: - - - - - I came into a lecture hall for the first class of Business 101. Thoughts on success and failure: - - - - - I think business is similar to sports. A season has many games. Play to win each game. When one is lost, study and learn to avoid another loss to finish the season in good standing. When the time is right, success arrives. It will be denied if we abandon the ride.
brother, all the analytics from ucla etc. fell flat on its face. did you incorporate the global consulting company before or after you learnt how things actually worked?
You are right, stealing is part of the Vietnamese culture….I met a girl in Vietnam and I fell in love with her only to find out she was stealing money from me behind my back!😢
You make me worry, I am in a long distance relationship, fully supporting her. I met her last December, on my last day all of a sudden she was pouring tears, literally pouring that is when it hit me. ANY ADVICE ?
@@VK-tq4il has she asked you for money to pay for English classes or buy her an Apple Watch? Once she starts asking you for money, my advice is to don’t send any….over time she will ask you again and again….the loss will pile up at the end once you eventually break up
@@VK-tq4il big trouble my friend. Even in the state long distance relationship are hard to hold. I’m 99% sure that she just looking for financial support. Hard to find genuine true love there my friend
@@VK-tq4ilstop sending money for 6 months and see how long she will stays with you. If she can do without your money for that time then she is alright.
One video is invest and do business in Vietnam, Vietnam is the new China (never will happen. Vietnam is growing but it has a long way to go to work on legal framework, infrastructure, monetary policy, logistics, control of global supply chains and natural resources), real estate crash, don’t invest in real estate, Vietnamese steal, etc. Consistency? Vietnam is no different than most places. Know who you’re dealing with, don’t rush, do your due diligence, trust no one even yourself. When I hear stories about ppl being ripped off I have to ask what’s the back story? Foreigners often come into a developing country with too much optimism, enthusiasm, arrogance, show off how much money they have as compared to average local, etc. Then on the other hand you have westerners that don’t have much and didn’t make it in their own country and they come to places like Vietnam with $5000 or less and think they are somebody and throw their money around or invest in some “business” thinking it will make them easy money and aligning themselves with untrustworthy ppl. Desperation, greed, theft, and deceit can work both ways. Vietnamese are hard working and industrious ppl. There are good and bad ppl everywhere. You have lived in America and you know it is no different here. Most Americans live paycheck to paycheck, have a mortgage and don’t own their house outright, live on credit cards, are overstretched.
1. No one's doing you a favor ever . Unless you had a close relationship far before business. 2. Charity is always somime pushing their agenda. I always do direct charity.. look at all large charities pennies on the dollar go to help others.. it's to push agenda and clout. 3. people who say they have friends in X position to help them out.. arnt their friends . 4. If people are showing you flash of cash they shouldn't need your cash to invest. Driving around in a merc is no different than flashing a Lambo.. 80 percent of the price of that car is import tax . Never do business with local businesses.. 5. Good friends in banking good friends in gov.. cough cough sounds sketchy
I love how he always ads on extra years. If you have followed his videos from the start, they go from 7 years to 9 years to 12 years and now 15 years.... He ads on extra years to his videos.
Are you bullying our attorney? You can invest in a country and not live there. Investing is different than living. Why is that so difficult to understand?
@@duongglobalbusinessconsulting learn how to comprehend before you respond. He has made videos over the years talking about his knowledge and expertise. It went from 7 years to 9 years to 12 years to 15 years pretty fast. It’s called basic math. The years are impossible to calculate correctly. I’m not discrediting his ability, he could be the best attorney in existence but you can’t go from 7 years to 15 years in less than 8 years. Math 101.
Well, it looks like you have a lot to comprehend. He has been investing in Vietnam for 15 years but he has only lived in Vietnam for 12 years. And next year will be 13 years of living in Vietnam. Duh
McDonalds in Ho Chi Minh City just recently closed down. Starbucks just shuttered a Ho Chi Minh City coffeehouse. I am sure many are just waiting out their lease contracts and lease obligations. I know 4 Viet Kieus that have invested in setting up some form of business in Vietnam with a small nest egg. All of them have left back to the States and much poorer. Just my 2 cents of input. Good to see your UA-cam channel growing. Perhaps that might be the only silver lining success of all your business ventures thus far
So glad to hear McDonalds is leaving HCMC. Suck unhealthy food, I'm from the USA and 50% of the population is obese. Diabetes is like an epidemic there. Eat healthy!
@@ebx100Starbucks is closing down locations too. Point is it is really difficult to succeed. Look at all the Vietnamese local businesses barely making it. Lots of "For Lease" and "For Sale" signs on those storefront buildings!!!
The Xray scammer, I mean scanner lady at Ton That airport said I won’t need to pay tax when I bring in foreign goods if I have a business license. Can you give me more info on that?
Could Vietnamese day-by-day business activities work without blatant briberies and corruptions? What is the impact on the economy and development of VN?
@@vsalasarcr I thought I have been to every single cigar bar in D.1 but never heard been. The only one i can think of is on dong Khoi street inside an alley behind the main street.
J'ai fait trois voyages complets au Vietnam avec mon épouse vietnamienne 2012, 2014,2016 jamais nous n'avons pu retrouver les mêmes gérants des établissements fréquentés, disparus, hôtel de luxe déclaré failli, restaurants détruits, ailleurs l'herbe est plus verte ! pour vivre heureux vivons caché .
1) You talk more natural in this setting, rather than the outside (stop & go style) 2) Never say a country is bad to invest in, because everyone invests in different types of business. i.e. You can build coffee, snack/cafe, online English teaching company, property management... ect..
Nice car. Rented? no all kidding aside. Business was always like that. In USA 80% start up business fail. With this global economy failing , yes its tough. Their may be a shift on the way that will turn the world on its head. Maybe you will be in position for it? I love Vietnam special Da nang. Wow water parks , nice hotels , sunshine, nice honest happy people, Organic food. Beautiful ocean! Then there the beautiful Hue. Yes with the global shift, people want to get out of their gloomy countries, Limited land of Da nang. maybe your ship come in! For me i retired and enjoy the freedom and happiness their in Da nang!
I've been investing in vn for a for many years. I can say the road is not smooth. You have to have a strong stomach. On paper it's a great place to invest. If you are in real estate, the advice is to buy the worst house on the block. In any business you want to get in on the ground floor. Investing in vn is not the ground floor. You are investing in hell. There is a saying. If it's easy everyone would do it. If you want to be part of the 1%, you have to do what the 1% do. 😂 I live in an area where your connections mean more than or just as much as what is in your bank account. Vn and america is not so different. It's just warmer over there.
Would it be possible to put Vietnamese subtitles on all your content. I have Vietnamese family and friends who would like to follow your youtube channel.
In USA u have to increase benefits (health, bonus, etc). More than just salary. Normal business costs. My 2 cents.😂 Oh all business to make $$$ include your own business is to make $$$. Capitalism. 😊 I agreed, no partner bc everyone wants $$$ for self interest. Human narural. 😂money is evil. The larger $$$ then more problems. Trust doesn’t existed when comes to $$$. My 2 more cents. Hihihi. 4 cents now.😂
Investing in Vietnam is the dumbest idea. Do Not invest your time and money in Vietnam. Not even a penny. Travel was good before because of cheap prices, however it's no longer cheap there anymore.
Unless you can start a big factory exploiting, ahem...taking economic advantage of the cheap local labor, then it might be worth it. Might. Of 4 real-life small time folks I personally know that "invested", all have shuttered and left for back home. 'Nuff said.
That’s your personal opinion, but why follow this channel if you don’t have any intention of starting a business in Vietnam, which this channel is catered for.
@@dr1ft3r07 I think some of us watch some of these videos because we know it is just a self-promotion of "legal" services in Vietnam. Of which some of those legal services won't apply because Vietnam does not have a State BAR association. Good luck to you, you will need it.
@@donnguyen8443 There is nothing wrong with having a channel to promote one’s services. For example, if you are wearing a Nike shoes or using an Apple IPhone in public, you’re also promoting Nike and Apples products as well. You also probably come across countless ads on TV and UA-cam as well. My point is that, there is nothing inherently wrong with promoting a service or products. It is, and always has been, the consumer’s choice to decide with their wallet. Similarly, Ken’s channel is not forcing sale agreements and contracts down viewers throat. Starting a business in a foreign country is already challenging enough, which is why it’s important to seek legal advice of a business attorney with expertise in that country. Diving head first into a lake you’ve never swim in is never a good idea. I hope you understand the reference, being the educated person that you are.
@@dr1ft3r07 Correct. Nothing wrong having a UA-cam channel to promote your legal services in Vietnam, of which you are not licensed in Vietnam, only licensed in California (Southern) and started out there as a divorce attorney. I find it a disservice to the unknowing investor who might be misled in forking over investment dollars for a pipe dream, starting with bogus services. I remember early on when this UA-cam channel promoted buying land or a landed dwelling, when many of us know that in Vietnam foreigners CAN NOT own any form of landed property. In fact, as a foreigner, one can only buy a condo unit in an approved building that allows up to 49% foreign ownership. And again, the laws in Vietnam are very vague, at best. Which means, the legal recourse is extremely tricky. To each their own. This self-expatted attorney is now a UA-camr, as Youtubing has proven to generate a small income to live in "good ol CHEAP Vietnam.
No filter, real talk -> REAL RESPECT for speaking up Ken
🤣🤣⛔ Hey Ding Duong...the US deep state buy your benz?! how many people did you loot to buy the benz...ITS TRIPLE THE PRICE IN VN! VN IS becoming the philippines...go get a happy ending, stay at a cheap lux hotel for a few days to get your freak on and go home after trashing the country! I would never by a property in VN ...duhhh its a scam. YOU'RE A SCAM!
Thank you Ken. 👍
40% Family
30% Business
20% Health and wellness.
10% Reflect and Meditate.
Bro, you hit it on the nail. Stealing is a national past time! You don't hold back.
🤣🤣⛔ Hey Ding Duong...the US deep state buy your benz?! how many people did you loot to buy the benz...ITS TRIPLE THE PRICE IN VN! VN IS becoming the philippines...go get a happy ending, stay at a cheap lux hotel for a few days to get your freak on and go home after trashing the country! I would never by a property in VN, philippines, Thailand, India.. ...duhhh its a scam. YOU'RE A SCAM! Let's hope it doesn't become a vassal of the US..then, the military diseases will totally destroy VN.
LoL ... "Stealing is a National pastime in Vietnam." Thanks for the upfront, honest opinion.
Which country isn't ? You sound bitter sounds like you failed hard and expected to be treated special 😢.and all you did was hand people money.
Or just another LBH that would never have money to invest.. I'll wait to know which country is pure 😊
Not only Vietnam. Nearby 'M' country too.
LOL
😂😂
@@Chr1s808 i just left japan.. beautiful country. couldnt tell the diff between the robots and people.. japan is doing great, this past summer they passed a law saying foreign worker were now seen as human. but still not allowed in some areas..knock yourself with that buffet of racism
Many of your warnings apply to the world in general and not just to Vietnam. Thank you for your honesty.
always appreciate your no-BS content
Thank you for your advice, especially the stealing part. It’s best to lay low and not share anything with anyone. Take care
Long time follower. Thank you for sharing your experiences in Viet Nam. Hopefully, I can retired in Viet nam in near future.
Good luck
Interesting,,,
I'm from the Philippines but have been based in d west for more than 2 decades but planning to move back and set up business, I believe Vietnam n The Philippines have similarities, so this blog has given me informative inputs.
Just subscribed.😊
The Philippines and vietnam has very little in common besides hating china
As an American who has been here in Saigon more than 30 years and who is now retired and content to remain here… respectfully suggested… never generalize about anything. Rather take every person and every situation and judge them on their individual merits. With respect to starting a business… again… respectfully suggested that before investing in anything that you work at least two or three years in the business and learn the ropes. Something as simple as a food shop has a million issues to understand from human relations, food preparation and safety, marketing and presenting the product in an appealing way, how to get along with landlords, authorities etc etc etc.
shut up shithead .stealing is in the Vietnamese DNA
You can very easily compare Vietnam and Thailand as he makes very clear by figures and personal experiences by many tourists. You obviously don't like what he's saying, only. I agree with what people are saying about scams and the bad people there.
"Stealing is a National pastime in Vietnam." You are absolutely right. It happens at all levels in Vietnam
Amazing. Absolutely amazing.
Thanks for sharing.
I fully support and believe in you.
One day I will need you support and advise…
Greetings from Germany 🇩🇪.
It’s unfortunate some experience that Ken has over the years in VN. I have to say some of his experiences are true. My advices for those interested in investing in VN are as follows:
. In selecting partners, do not go for those aspiring business men (they may take you for a ride) , select those that have sustainable businesses n good track records. You’ll be surprised how many good n honest business people you can find Vietnam. Go for those that are selective in business partners.
. Dont let appearances deceive you. I know many wealthy Vietnamese ride normal cars/ motorbikes or dressing very ordinary (not flashy). They don’t care. That’s where you may find some valuable connections.
. In businesses always check your accountings/ sources, honest business people expect you to do that. If you dont, they’ll not respect you or you maybe asking for trouble.
@@Fakir497what I can tell you is I work for a private owned liquor wholesaler/ distributor . We sell liquor mostly on credit n only get full payment months after. We’ve never lost a dime because we’re very good at selecting partners. One time , a customer who is a bar owner got into trouble with the law. We thought we lost all the money he bought liquor from us on credit (billions Dong) because he was being investigated. 2 years later he came back n returned all in full amount. He didn’t have to because we thought he was bankrupt. We’re still business partners til today.
You may be suprised how many similar cases I’ve come across over the years working in wholesale. When you meet serious people, you’ll know.
from one businessman to another businessman. we all made mistakes in the beginning and never gives up and enjoy the journey. hope we can meet this year and chat
Great overall insights on investing (or not) in VN as well as with people. Terrific feedback Ken
Great video. I love Vietnam, been there 5 times now in the past 2 years. I'm glad I followed you now because your videos and input are very valuable. Cảm ơn rất nhiều!
Welcome aboard!
That was excellent free advice that could be applied in any business environment, especially cross cultural. Just change the condiments to suit.
Real wealth isn't flaunted.
The only people who don't make mistakes are those who don't do anything.
Don't trust too much.
Family security first.
I started investing in property from 2001 in China because my wife is HK and can buy. I reckon I made around Rmb10M and also started a business that made Rmb2.8M annually for 11 years before we stopped. Overall it was an incredible ride. We sold all before 2020 because I could see a bubble. Everything was quite transparent and according to law.
I don't know much about the social, economic and environmental factors influencing Vietnam. However, you've really enlightened me by sharing your experience. Thanks
It takes a lot of courage to be honest about failures . It is great to finally see a honest review on the difficulties and opportunities when investing in Vietnam.
Thanks for sharing your experience and knowledge Ken.
Thank you for sharing your experience and expertise, i empathizes with your pain.
The world is very volatile now, de-risk.
Another great episode , wise advice and great tips and warnings. I did want to open a small hotel in Vietnam about 5-7 years ago, then I learned more about how business works in Vietnam as all the requirements and how over priced land is in vietnam to own (With a partner) and building or buying a building. and how difficult the Vietnamese Government make it to take your OWN money back out of the vietnam banking system.
Then even opening a local business catering to locals has to be right niche , business model. etc. open a club VS a banh mi stand. open a retail store, factory, etc. Partners and friends who want to cheat you with money. Scamming real estate agents. etc..
At this point I'd just invest only what I can afford to lose. Most profitable business type I've narrowed down to is to hire a small staff to do customer service to my online businesses aboard, or for manufacturing, or IT local to overseas client. or just a full brown V.A. service company.
Another great insight! Thanks. Beyond business fundamentals, may I add integrity, perseverance and self-fulfillment in a realistic and everchanging environment, geopolitically, socially, etc... Lastly, you will do best when you enjoy what you are doing.
Thank you for your valuable life experiences. I hope we can all learn from your experiences and can avoid common mistakes.
A shoestring budget forces you to seek lower prices on everything. You must act as though you have a shoestring budget even if you do not have one.
Fantastic video, thanks for sharing some of your successes and failures, best wishes.
Appreciate the transparency and wisdom
The problem with small firms investing in Vietnam is getting butchered when getting fatter by a local authority! That's what has happened to overseas Vietnamese businesspeople in many years already. 😞
came to look for copper and found gold...You earned yourself a new sub, sir.
Hi Ken, Portugal is supposed to be the 5th most honest and safe country worldwide. My experience there is similar to yours here--except I also had an agent break into my apartment and steal about $4000 USD. That was just one issue. So much for honesty in Portugal. That's why I am here in Vietnam. I love Vietnam and would love to invest here but "once burned, twice shy". In addition, I cannot get a long term visa. That makes any serious investment difficult. I never had the issues anywhere that I had in Portugal. BTW, I haven't had anyone break into my apartment and steal yet here in Vietnam :).I trust too much, too.
14:47
I met a former diplomat from a Scandinavian country who was based in Hanoi.
He told me all the money his country gives to Viet non-profits goes to the pockets of private individuals.
The sick part is that this is an open secret and embassies just do nothing about it.
Why? Because the public sector just wants to spend money in order to get a bigger budget the next year. The money these embassies don’t spend is deducted from next year’s aid budget and they get less money.
Unlike the private sector that tries to reduce costs the public sector just burns money.
Doing business successfully is always challenging anywhere in the world. However, in Vietnam, an additional challenge (and usually is the main one) is dealing with the VCP. You just can't trust them but yet you have to work with them. In other words, they are always your "partner" who can help you but also can stab you in the back anytime during your journey.
House of cards .....absolute TRUTH
Vietnam had always been corrupt, even before 1975.
So I asked a Vietnamese businesswoman if there are still bribery in Vietnam.
She said, "If there is no corruption, it is not Vietnam!"
Great content. When I'm in Vietnam next, let me buy you Com Tam and CFSD bro.
Ken sir listening to you, very much confused thinking it will be good or not to start a business in Vietnam
Due diligence is the key!
In all countriew, stealing foreigners will be common, specially in poor countries with a high social inequality. This is part of humans nature in order to survive or being greedy taking advantage of other people.
Finally! Someone who actually calls it like is! Real honest truth about what the culture and mentality is. I did my research for 2 years before i was told its a scammers paradise. Its really unfortunate but if the shoe fits....🤣
i hear its easy to make money in Vietnam, but it can be lost any time.
Not easy, trust me.
Easy come easy go. 😊😊😊
Your comment near timestamp 36:19
"we have a lot more people to help"
is the primary seed that was important
for your company's growth.
Some individuals in your past were
focused on how they could help
themselves, which cannot be
ignored, but needs to be at the
bottom of the goals list.
Super helpful advices!
Thanks for the wisdom and information.
Thank you Ken!
It does not matter where you invest your money , you should have to research all aspects . Asia countries have very similar corruption and scams in lots of countries. It was very sad to hear that , and it did happen. Asia is not only the country has 13 months' salary, France also does. . Hope things can get better in the futures
Great video, thank you
Ken... I've been watching your videos for quite sometime now... and to be frank with you... some I like...some I don't... but today I'm going press on the "Subscribe" button, not because of your "com tam" offer :-) but for your great stories and great advices. I wish you the best.
Com tam for a simple hit the subscribe button? Take it!
Good work over the years bro ❤
Ken, I have three comments:
1- Thanks for your honest input good/bad experiences.
2- 100,000 VND voucher to subscribe to your channel is called BRIBERY.
3- All these stealing, corruptions and monkey businesses in Vietnam I am surprised you did not blame on CHINA !!!
Why China has anything to do with stealing and bribery that the Vietnamese has ? I do not get it …
Trinh Vinh Binh @ David Duong.People seem to forget these 2 names & what happened to them in VN.
Great Video.
I just subscribed. Am I too late to get the VND?
Trust but not blindly! Use your experience and instincts to help with trust but always verify.
Good advice !
Hi, Great video. I had a deal to open a liquor shop in D3. Unfortunately the deal fell through, lost $3500 (deposit+1 mnth), website, designer. Not a lot of money but it was a good opportunity that was wasted. The lawyer who brokered the deal was dishonest. I learned a lesson. Vietnam is a difficult place to do business but there is a lot of opportunity. Where is your bar ?? Thanks
Great video Ken
In Vietnam even your families scams you so be careful 😂 it happens to me
Ba con ong chu scam too
I got scammed by a girl I met online and by her family …..if you watch Vietnamese short movies, it is all about people scamming each other 😂
your granma over charge you?
This is a great video!
My Thoughts: - - - - - I came into a lecture hall
for the first class of Business 101.
Thoughts on success and failure: - - - - -
I think business is similar to sports.
A season has many games. Play to win each game.
When one is lost, study and learn to avoid another
loss to finish the season in good standing.
When the time is right, success arrives.
It will be denied if we abandon the ride.
Nice video! What area are you driving around in? Looks very nice
Sala, Thư Duc.
brother, all the analytics from ucla etc. fell flat on its face. did you incorporate the global consulting company before or after you learnt how things actually worked?
Good question.
u forgot to mention that one should have lots of $$$$$ for briberies in order to get approvals for all your applications.
You are right, stealing is part of the Vietnamese culture….I met a girl in Vietnam and I fell in love with her only to find out she was stealing money from me behind my back!😢
You make me worry, I am in a long distance relationship, fully supporting her. I met her last December, on my last day all of a sudden she was pouring tears, literally pouring that is when it hit me. ANY ADVICE ?
@@VK-tq4il has she asked you for money to pay for English classes or buy her an Apple Watch? Once she starts asking you for money, my advice is to don’t send any….over time she will ask you again and again….the loss will pile up at the end once you eventually break up
@@VK-tq4il big trouble my friend. Even in the state long distance relationship are hard to hold. I’m 99% sure that she just looking for financial support. Hard to find genuine true love there my friend
@@VK-tq4ilstop sending money for 6 months and see how long she will stays with you. If she can do without your money for that time then she is alright.
@@VK-tq4ilbe careful with the girls in VN. Not all are bad, but majority are👹
your first mistake in opening the speak easy was opening the speak easy 🤣
Remain as a independent salesman hit and move. The world market is your oyster. No HR, employees, partners only yourself.
Good video
Never invest in vietnam. There are 10x opportunities in usa.
One video is invest and do business in Vietnam, Vietnam is the new China (never will happen. Vietnam is growing but it has a long way to go to work on legal framework, infrastructure, monetary policy, logistics, control of global supply chains and natural resources), real estate crash, don’t invest in real estate, Vietnamese steal, etc. Consistency? Vietnam is no different than most places. Know who you’re dealing with, don’t rush, do your due diligence, trust no one even yourself. When I hear stories about ppl being ripped off I have to ask what’s the back story? Foreigners often come into a developing country with too much optimism, enthusiasm, arrogance, show off how much money they have as compared to average local, etc. Then on the other hand you have westerners that don’t have much and didn’t make it in their own country and they come to places like Vietnam with $5000 or less and think they are somebody and throw their money around or invest in some “business” thinking it will make them easy money and aligning themselves with untrustworthy ppl. Desperation, greed, theft, and deceit can work both ways. Vietnamese are hard working and industrious ppl. There are good and bad ppl everywhere. You have lived in America and you know it is no different here. Most Americans live paycheck to paycheck, have a mortgage and don’t own their house outright, live on credit cards, are overstretched.
GREAT INTROI
1. No one's doing you a favor ever . Unless you had a close relationship far before business.
2. Charity is always somime pushing their agenda. I always do direct charity.. look at all large charities pennies on the dollar go to help others.. it's to push agenda and clout.
3. people who say they have friends in X position to help them out.. arnt their friends .
4. If people are showing you flash of cash they shouldn't need your cash to invest.
Driving around in a merc is no different than flashing a Lambo.. 80 percent of the price of that car is import tax
.
Never do business with local businesses..
5. Good friends in banking good friends in gov.. cough cough sounds sketchy
I agree with you, CLINTON FOUNDATION, 15% for charity and 85% expenses !
@@VK-tq4il 15 percent is higher than most..google the big names. 1 or 2 percent
Very good, Ken.
Duong that type of partner who has your back.
And "lying" is a sport.
I love how he always ads on extra years. If you have followed his videos from the start, they go from 7 years to 9 years to 12 years and now 15 years.... He ads on extra years to his videos.
Are you bullying our attorney? You can invest in a country and not live there. Investing is different than living. Why is that so difficult to understand?
@@duongglobalbusinessconsulting learn how to comprehend before you respond. He has made videos over the years talking about his knowledge and expertise. It went from 7 years to 9 years to 12 years to 15 years pretty fast. It’s called basic math. The years are impossible to calculate correctly. I’m not discrediting his ability, he could be the best attorney in existence but you can’t go from 7 years to 15 years in less than 8 years. Math 101.
Well, it looks like you have a lot to comprehend. He has been investing in Vietnam for 15 years but he has only lived in Vietnam for 12 years. And next year will be 13 years of living in Vietnam. Duh
Invest in VN takes a lot of risks and at least 5-10 years to bear fruit. I’ll probably dead by then. S&P 500 for me. Slowly but surely.
N also be more careful with peoples surround you your partners or spouses
McDonalds in Ho Chi Minh City just recently closed down. Starbucks just shuttered a Ho Chi Minh City coffeehouse. I am sure many are just waiting out their lease contracts and lease obligations.
I know 4 Viet Kieus that have invested in setting up some form of business in Vietnam with a small nest egg. All of them have left back to the States and much poorer. Just my 2 cents of input.
Good to see your UA-cam channel growing. Perhaps that might be the only silver lining success of all your business ventures thus far
So glad to hear McDonalds is leaving HCMC. Suck unhealthy food, I'm from the USA and 50% of the population is obese. Diabetes is like an epidemic there. Eat healthy!
@@ebx100Starbucks is closing down locations too. Point is it is really difficult to succeed. Look at all the Vietnamese local businesses barely making it. Lots of "For Lease" and "For Sale" signs on those storefront buildings!!!
@@ebx100stupidity☝️
The Xray scammer, I mean scanner lady at Ton That airport said I won’t need to pay tax when I bring in foreign goods if I have a business license. Can you give me more info on that?
🔥🔥🔥
Be careful, bro! talking to much negatives about VN while living there. Big brother might be watching. Just saying.
You're right. He might be in trouble sooner or later.
Could Vietnamese day-by-day business activities work without blatant briberies and corruptions? What is the impact on the economy and development of VN?
what was the name of that bar?
Greetings, let him tell us the name of the bar and I'll send him a beer. 😉
Kenny's Massage Parlor for passport bros... 🤣😂🤣
@@vsalasarcr I thought I have been to every single cigar bar in D.1 but never heard been. The only one i can think of is on dong Khoi street inside an alley behind the main street.
Social security exist in Vietnam?
J'ai fait trois voyages complets au Vietnam avec mon épouse vietnamienne 2012, 2014,2016 jamais nous n'avons pu retrouver les mêmes gérants des établissements fréquentés, disparus, hôtel de luxe déclaré failli, restaurants détruits, ailleurs l'herbe est plus verte ! pour vivre heureux vivons caché .
Bro you know you can’t trust any lawyer. Especially a Vietnamese lawyer in Vietnam 😂
Hahaha stealing is a national pastime time in vn” so true.
1) You talk more natural in this setting, rather than the outside (stop & go style)
2) Never say a country is bad to invest in, because everyone invests in different types of business. i.e. You can build coffee, snack/cafe, online English teaching company, property management... ect..
Nice car. Rented? no all kidding aside. Business was always like that. In USA 80% start up business fail. With this global economy failing , yes its tough. Their may be a shift on the way that will turn the world on its head. Maybe you will be in position for it? I love Vietnam special Da nang. Wow water parks , nice hotels , sunshine, nice honest happy people, Organic food. Beautiful ocean! Then there the beautiful Hue. Yes with the global shift, people want to get out of their gloomy countries, Limited land of Da nang. maybe your ship come in! For me i retired and enjoy the freedom and happiness their in Da nang!
I wonder what’s the franchise?
I've been investing in vn for a for many years. I can say the road is not smooth. You have to have a strong stomach. On paper it's a great place to invest. If you are in real estate, the advice is to buy the worst house on the block. In any business you want to get in on the ground floor. Investing in vn is not the ground floor. You are investing in hell. There is a saying. If it's easy everyone would do it. If you want to be part of the 1%, you have to do what the 1% do. 😂
I live in an area where your connections mean more than or just as much as what is in your bank account. Vn and america is not so different. It's just warmer over there.
Vietnam does not have National Healthcare?
make video about cuong dola ppls sir =)
Give people 100k to spend at your cafe to increase subscribers is lower one’s value. Dont beg.
😂😂Now, why aren't the Western MSM make more videos about the shenanigans of Vietnamese instead of always riding down on the Chinese 😂😂
Lol i remember you used to love Vietnam man what happened who hurt you lol 😅😂
The thump nail suggests you either got scammed in a beauty pageant or " bị gái dụ" 😊
Would it be possible to put Vietnamese subtitles on all your content. I have Vietnamese family and friends who would like to follow your youtube channel.
Too much work. Please use closed captions.
In USA u have to increase benefits (health, bonus, etc). More than just salary. Normal business costs. My 2 cents.😂
Oh all business to make $$$ include your own business is to make $$$. Capitalism. 😊 I agreed, no partner bc everyone wants $$$ for self interest. Human narural. 😂money is evil. The larger $$$ then more problems. Trust doesn’t existed when comes to $$$. My 2 more cents. Hihihi. 4 cents now.😂
Greetings, I have been subscribed to your channel for several years. Can I buy you a beer? Let me know if my offer is to your liking. 🙏
So you bribing Ken now !!!
Investing in Vietnam is the dumbest idea. Do Not invest your time and money in Vietnam. Not even a penny. Travel was good before because of cheap prices, however it's no longer cheap there anymore.
Unless you can start a big factory exploiting, ahem...taking economic advantage of the cheap local labor, then it might be worth it. Might. Of 4 real-life small time folks I personally know that "invested", all have shuttered and left for back home. 'Nuff said.
That’s your personal opinion, but why follow this channel if you don’t have any intention of starting a business in Vietnam, which this channel is catered for.
@@dr1ft3r07 I think some of us watch some of these videos because we know it is just a self-promotion of "legal" services in Vietnam. Of which some of those legal services won't apply because Vietnam does not have a State BAR association. Good luck to you, you will need it.
@@donnguyen8443 There is nothing wrong with having a channel to promote one’s services. For example, if you are wearing a Nike shoes or using an Apple IPhone in public, you’re also promoting Nike and Apples products as well. You also probably come across countless ads on TV and UA-cam as well. My point is that, there is nothing inherently wrong with promoting a service or products. It is, and always has been, the consumer’s choice to decide with their wallet. Similarly, Ken’s channel is not forcing sale agreements and contracts down viewers throat.
Starting a business in a foreign country is already challenging enough, which is why it’s important to seek legal advice of a business attorney with expertise in that country. Diving head first into a lake you’ve never swim in is never a good idea. I hope you understand the reference, being the educated person that you are.
@@dr1ft3r07 Correct. Nothing wrong having a UA-cam channel to promote your legal services in Vietnam, of which you are not licensed in Vietnam, only licensed in California (Southern) and started out there as a divorce attorney. I find it a disservice to the unknowing investor who might be misled in forking over investment dollars for a pipe dream, starting with bogus services. I remember early on when this UA-cam channel promoted buying land or a landed dwelling, when many of us know that in Vietnam foreigners CAN NOT own any form of landed property. In fact, as a foreigner, one can only buy a condo unit in an approved building that allows up to 49% foreign ownership. And again, the laws in Vietnam are very vague, at best. Which means, the legal recourse is extremely tricky. To each their own. This self-expatted attorney is now a UA-camr, as Youtubing has proven to generate a small income to live in "good ol CHEAP Vietnam.