Having sold the business I began back in 1992, it seems only appropriate to embark on a tour of at least some, if not all (there are 40) of the offices Dezan Shira & Associates have had in place now for many years. I recall our opening up of our Vietnam practice back in 2009, when foreign manufacturers were all moving to China – we already had multiple China offices at that time and professional firms such as lawyers and consultants like us were all bullish about the country.
But we had spotted a trend – manufacturing costs in Vietnam were about 30% of the costs in China, although the productivity was lower. But we knew that would change, and set up in Hanoi and Ho Chi Minh City anyway – one of the first foreign firms (like we were in China) to do so. Our competitors called us ‘stupid’ – but we knew what we were doing. Vietnamese production rates matched China’s about three years later and still with that lower cost overhead. It was the beginning of the ‘China Plus One’ strategy and we were on the top of that wave.
Hanoi
I have always enjoyed visiting Vietnam – which at first glance seems similar to China but is in fact very different. Amazing food, a highly distinct elegance and the best parts left behind from the old colonial days. In Hanoi, I prefer the historic Metropole Hotel, which still bakes fresh baguettes and croissants early every morning, and love to sit and think about all the famous sights this Grande Dame of an hotel has seen. Graham Greene wrote ‘The Quiet American’ here. Other famous guests have included Somerset Maugham, Charlie Chaplin, and many other Heads of State and famous celebrities.
A walk around nearby West Lake is also always beautiful.
I also took the opportunity to visit the Hanoi Opera House. Years ago I saw a production of ‘Eugene Onegin’ there, which was great, however its about undergo some significant renovations and is only open for tours. Completed by French architects in 1911, it is still Magnificent. I hope to return in two years time when it should be reopened for performances.
Saying farewell to staff is always somewhat bittersweet, and there were tears, however they treated me to a slap up lunch and it was time to express thanks and say farewells. I leave behind a solid legacy and of course – Vietnam Briefing, which will continue to be published.
It’s a fond farewell to my lovely, loyal and dedicated Hanoi staff, who have worked so hard and been such a great team over the past years. But it is not a farewell to Hanoi!
Saigon
Saigon(Ho Chi Minh City) has a very different vibe from Hanoi, partially due to its location much farther south but also due to the lingering differences from the days of North and South Vietnam. My favourite hangout is the Majestic Hotel, on the banks of the Saigon River, which has somewhat erratic service (governments should not be running commercial businesses) but nonetheless possesses slightly faded charm and elegance. However, like Hanoi, the food is excellent, very fresh and I love the use of fresh mint in the spring rolls. Vietnam is also very famous for its coffee.
The Majestic is also close to the Saigon Opera House, another French architectural gem, and still putting on performances. I was lucky enough to catch the ‘AO’ (Bamboo Circus) show, which is highly entertaining and a sort of Vietnamese Cirque Du Soliel.
After this, it was again a fond farewell and more tears, and another splendid lunch. Thankyou very much Dezan Shira & Associates Vietnam, and all best wishes for your future success!
