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Brunolem

How about Vietnam?

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2 hours ago, onera1961 said:

People (or investors) lend you money when they feel you can pay it. If your GDP is bad, people won't lend you money. Japan has proved that debt is immaterial, it is your ability to pay.

Are you really THAT misinformed? 

 

Do you really don't know that there is only ONE buyer for this crap, overtly or covertly, and it is called the central bank... which conveniently can print the necessary money at will... 

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2 hours ago, Cadbury said:

 

Vietnamese banks are safe. I have had a reasonably large amount of money invested for about 10 years. Interest rate is now about 8% on term deposit.

 

 

How does that compare with Cambodia, which also offers high rates, yet not that high these days? 

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18 minutes ago, Brunolem said:

Are you really THAT misinformed? 

Do you really don't know that there is only ONE buyer for this crap, overtly or covertly, and it is called the central bank... which conveniently can print the necessary money at will... 

I guess all the Conspiracy Theorists are moving to Vietnam as well.

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Just now, SheungWan said:

Re Vietnam, one big elephant in the room is the CP.

I think you're right on with this. It's subjective I guess, but a lot of Viets here are resentful of Hanoi's pro-China moves. Hanoi doesn't seem to really wait around much for Saigon's opinion on things are or how it will all work out. A lot of this is behind close doors and run in the back room of the various CP's led by China. That's why I wouldn't take easy-to-obtain work visas here - visa's that wouldn't even be legit for retirees, as meaning much. Just one example, ie. a general CP agreement to clamp down on work permits for foreigners who are from countries that are in a trade war with China isn't hard to imagine. When I worked on a short contract in China I couldn't get in for several days as the Chinese government was completely scuttling work visas for US citizens due to negative comments about China in the  US Congress......

 

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Having worked and lived there, the Vietnamese are an ambitious and motivated people with a good attitude to work, totally unlike the staff here. 

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34 minutes ago, tideout said:

I think you're right on with this. It's subjective I guess, but a lot of Viets here are resentful of Hanoi's pro-China moves. Hanoi doesn't seem to really wait around much for Saigon's opinion on things are or how it will all work out. A lot of this is behind close doors and run in the back room of the various CP's led by China. That's why I wouldn't take easy-to-obtain work visas here - visa's that wouldn't even be legit for retirees, as meaning much. Just one example, ie. a general CP agreement to clamp down on work permits for foreigners who are from countries that are in a trade war with China isn't hard to imagine. When I worked on a short contract in China I couldn't get in for several days as the Chinese government was completely scuttling work visas for US citizens due to negative comments about China in the  US Congress......

Unlike the Cambodian and the Philippines leadership, Vietnam has a history of a far more prickly relationship with Mainland China and is much greater independently inclined IMHO. Every so often clashes between the two that can really flare up. IMHO it is quite legitimate for individuals to prefer living in Vietnam, but a mistake to think that Vietnam is the answer to all of their sense of problems in Thailand. 

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5 hours ago, Cadbury said:

You are right there is no retirement visa. In recent years they have sporadically issued 12 month visas but for some reason every now and then they go back to 3 month visas. On the credit side work permits are relatively trouble free to get. 

A 5 year Certificates for Visa Exemption for marriage cost US$10 and involve a health check and certificate of no impediment to marriage and that's about it. It has to be stamped every 6 months and that can easily be done at a police station (without forms of any sort) or by passing through immigration when returning from a trip outside the country. For marriage there are no requirements for money in a bank or arduous trips to Immigration or home visits by the local plod such as in Thailand. 

Vietnamese banks are safe. I have had a reasonably large amount of money invested for about 10 years. Interest rate is now about 8% on term deposit.

 

 

Is it easy to open a bank account in Vietnam or is it potentially difficult as it is in Thailand?

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1 minute ago, SiamAndy said:

Is it easy to open a bank account in Vietnam or is it potentially difficult as it is in Thailand?

Reasonably easy but you need a residential address. I had a three month visa at the time and was renting a house and had no trouble. That was ten years ago, not sure what it is like now but I expect it is the same. Some foreign banks might have different rules and might be a bit picky.

Never had any trouble with them, they always pay my interest annually on on time and I just roll the investment over. I opened a normal savings account and had the money transferred in my own currency and that gets converted to Vietnam dong. I then opened a separate Term Deposit account and transferred funds from the Savings account into it. No different to any other bank in the world.

When I first started I was getting 14% 😀 but that's now down to 8% which is still OK; better than Thailand anyway.

The Vietnam government seem to keep the Dong relatively stable vis-a-vis the US dollar.

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3 hours ago, Brunolem said:

Are you really THAT misinformed? 

 

Do you really don't know that there is only ONE buyer for this crap, overtly or covertly, and it is called the central bank... which conveniently can print the necessary money at will... 

The lender decides how much the country is worth and divides that by the amount of currency available.  If the central bank prints more money the value of each bill goes down.  US$1 becoming equivalent to the staggering sum of Z$2,621,984,228. Welcome to Zimbabwe/Vietnam economy 101. 

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6 hours ago, Brunolem said:

I don't know about Canada, but the FACT is that, just days ago, a survey showed Thailand was world number one in wealth inequality... a representative from the government even came out to say that this was not exactly true. 

The whole thing can be seen, or read, on Aljazeera website. 

(Aljazeera is not a Thailand basher) 

You are correct.  I was wrong - looking at figures that were a few years old.  The wealth inequality in the past 5 years has grown immensely. 

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1 hour ago, SheungWan said:

Unlike the Cambodian and the Philippines leadership, Vietnam has a history of a far more prickly relationship with Mainland China and is much greater independently inclined IMHO. Every so often clashes between the two that can really flare up. IMHO it is quite legitimate for individuals to prefer living in Vietnam, but a mistake to think that Vietnam is the answer to all of their sense of problems in Thailand. 

I don't really disagree with you but I think we (in the west) tend to hear a bit more about the tension you mention than the ongoing cooperation between the two countries. As I say, it's a bit subjective because it's not on the table for review. Recently, everything from collecting of old sim cards to requiring everyone (foreigners included) to have their picture on file with their phone company to Viet friends getting warnings from the government (they're being monitored now) to Beijing taking over the management and (eventually) the revenue of the Hanoi subway project has China's prints on it. 

So, I'd agree with your last sentence in particular but add ".....and if you think your'e avoiding the China influence......"

Thanks for responding....complicated subject.

 

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5 minutes ago, tideout said:

Recently, everything from collecting of old sim cards to requiring everyone (foreigners included) to have their picture on file with their phone company to Viet friends getting warnings from the government (they're being monitored now)

 

I bought a SIM at HCMC airport in April, nobody took my photo, no forms, they didn't even ask my name.

It was 200,000dong for one-month unlimited internet, cash and carry.

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Just now, BritManToo said:

I bought a SIM at HCMC airport in April, nobody took my photo, no forms, they didn't even ask my name.

It was 200,000dong for one-month unlimited internet, cash and carry.

Could be tied to your type of visa (?) but trust me, phone service was threatened to be turned off this last year if you didn't show up at your phone carrier to be photographed. As i recall, there was a way to do it online if you read Vietnamese. 

 

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10 hours ago, Cadbury said:

 

The Vietnam government seem to keep the Dong relatively stable vis-a-vis the US dollar.

 

indeed, the VN dong has been steady at about 22 - 23000 against the dollar for about 10 years now...at least since I was working there last in 2010...gold shop rates...

 

and although I like the place (Hanoi) a lot better than Thailand it ain't just the living expenses...yer emotional baggage gets hauled from place to place whether you like it or not...such that ye gotta think carefully before making a move...

 

 

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