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Business report on the prospects of international expansion for Windstream Manufacturing into Vietnam

Number of Words : 5138

Number of References : 51

Contents

 Introduction
 Economic
 Political
 Legal
 Finance
 FDI
 Socio-cultural
 Conclusion & Recommendation
 Appendix 1
 Appendix 2
 Appendix 3
 References

Description

Windstream Manufacturing is an international company in the wind turbine industry who is considering entering the market in Vietnam. This report examines several aspects of Vietnam in order to make a final recommendation as to whether or not Windstream should enter Vietnam. The economic factors show us that the economy in Vietnam is growing, and has been for some time, and will continue in that same direction in the years to come. The GDP has been steadily increasing, as has the per capita income. The infrastructure in Vietnam is a source of several problems, including blackouts. The political platform of Vietnam consists of a Communist party government, and it is starting to stabilise itself with tight government policies. Corruption is a very serious problem in Vietnam and effective measures have been taken to stop it. Vietnam maintains a very good relation with Australia which can be advantageous for Windstream to smoothly enter the market. The legal system in Vietnam is quite different than the one in Australia. As it stands, foreign businesses are not allowed to own land, and the labour laws are quite clear as to what is allowed and what is not. On the finance side of things, there are several banks in Vietnam, including foreign ones, but access to finance may prove to be slightly problematic for Windstream. The interest rates are high, but have recently been cut and the currency fluctuates considerably, enough so that locals use the U.S dollar in order to protect against high inflation. Profits can easily be brought back to Australia. The supportive policies taken by the government to increase the amount of FDI into the country is attracting investors worldwide. Vietnam encourages tax free zones and has cut down on import duties for foreign companies. It has very favourable laws and has no complications to start foreign business in Vietnam There is high potential for utilising its wind energy resources. The socio-cultural research shows us that there are many complicated differences between the Australian and the Vietnamese cultures, including the way business is done; however, with the right attitude, these can be overcome. <br />Finally, we forecast that there will be plenty of change in Vietnam in the coming years, in terms of the economy which will likely push change to happen in other sectors. In the end, we recommend that Windstream enter the Vietnamese market due to the high need of new ways to generate electricity in a country that currently does not have enough electricity to go around. <br />

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