Setting up an office in Vietnam need not be a rigorous task, all you need is to plan well and plan ahead. There are many things to consider for your new office space and it starts with a good location. Use this guide as a checklist to get your business up and running in no time.
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The Importance of Choosing Your Office Location
Your choice of office space to rent can be a critical factor for the success of your business. Before you set up an office in Vietnam, it takes some strategy and foresight to plan the essentials.
For instance, your choice of office location can impact the accessibility for your staff and guests, the amenities you have access to, and the reliability of your internet connection. These are factors that can impact productivity.
Vietnam has plenty of resources to help you achieve your business needs, but you stand to gain more by starting with a good location. Here are some benefits:
- It boosts brand visibility and credibility. A known location helps build a positive and professional image for your company and brand.
- It helps you reach your target market. When your company is visible and present, you can expect to garner more attention and expand your customer base.
- It attracts the best talent. You can attract talents with a location that is known and accessible.
- It can contribute to the well-being of your employees. Convenient commuting and good surrounding amenities that adds value to their lifestyle can be a huge factor increasing overall employee satisfaction.
- It provides access to essential business resources. This explains why some companies from similar industries can be located in the same area, and you can expect relevant resources nearby.
The above factors are worth considering as you set up a branch office in Vietnam. There are many options that can have ripe opportunities for business growth, hence you will need to plan and prioritise.
Best Locations to Set Up a Branch Office in Vietnam
If you are planning to set up an office in Vietnam, consider the offerings in Saigon’s office rental market as Ho Chi Minh City is a viable business destination. The city is the country’s main economic hub where major multinationals and corporations are based. The lively and vibrant vibes of Saigon is not only a huge pull for tourism but is also an attraction as a business environment
With a predominantly younger demographic in a city of 9 million, the city’s fast-paced lifestyle and comparatively lower office rental makes it a desirable market entry location with the promise of a good talent pool.
In terms of transportation infrastructure, the city’s first rapid transit network is underway, where 3 lines are currently being implemented. The metro project will bring significant changes to the urban transit system, addressing traffic and commuting issues among others.
With 19 districts in the city’s urban area, where are some of the best business locations to settle in? There are two areas that stand out most in terms of business activity and for those looking for an office space to rent.
District 1
The pulse of Saigon, District 1 gathers most of the major cultural and economic activities of Ho Chi Minh City. Notable for its tree-lined boulevards and leafy parks, the district is also bustling with activities with its plethora of restaurants, entertainment and shopping venues. It is a top choice for companies looking to set up a base, while it is already home to many global businesses and local startups as well as governmental institutions and bureaus. District 1 is not short of office location, but among the many buildings in the area, the Bitexco Financial Tower stands out the most with its iconic design.
Binh Thanh District
The fast-developing district in Ho Chi Minh City, Binh Thanh is the largest of the 19 districts, located in the city east on the banks of the Saigon River. Though there are fewer commercial buzz, Binh Thanh is appealing to both local and international communities with more residential projects on the rise, proximity to other business districts, lower rental prices, as well as good dining and lifestyle options comparable to District 1. Although so, the district is arguably most known for Vincom Landmark 81, the tallest skyscraper in Southeast Asia, and a top residential-office complex in Saigon that is becoming the preferred business address for key industry players.
RELATED: A Comprehensive Guide to Establishing a Branch Office in Vietnam
6 Factors When Choosing Your Office Space
District 1 and Binh Thanh are good places to start when looking for an office space to rent. Next, consider these 6 things for your place of work:
- Accessibility – When you choose your office location, it is important that it is accessible via both public and private transportation for the convenience of your employees, partners, guests and visitors.
- Amenities – The place where you work should be dynamic to fit the business model, space requirement and working style of your team. With a flexible office space, you can easily get a business-ready workspace that comes with complete amenities, including business lounges and café areas, conference and meeting rooms, as well as enterprise-grade IT infrastructure.
- Location Reputation – The perceived image of the office location can have a direct impact on the outlook of your business. Situate your office at a landmark or a promising location and you will have achieved the first step in building a strong brand positioning.
- Cost – A practical consideration for businesses. A good location can come at a higher cost. Think about how much space you need, and if your team is working on a hybrid schedule, your office size can be adjusted. If you are not ready for a physical office space, consider a virtual office as you would not want to miss out on a prime business address.
- Size – The size of an office space can influence the performance and productivity of your team. Choose one that provides the optimum amount of space, and on top of that, opt for locations that provide a third place like lounges and breakout areas for people to unwind and recharge.
6. Scalability – With the evolving business environment, many companies choose to have the flexibility to respond to changes and adjust the size and cost of their space accordingly. Consider a flexible office space if you require the agility or the option to scale when it arises.
Ways You Can Benefit from Flexible Office Spaces
In today’s office environment, flexibility and agility are highly valued. Businesses can scale up and size down as they need, and better manage a hybrid or remote workforce. Flexible office space enables businesses to maximize resources and increase productivity levels.
A shared office space in Ho Chi Minh City is all about flexibility. It supports any work model with a versatile workforce providing space as a business needs it. Startups, as well as growing enterprises, can benefit from this, along with a flexible lease and an open space to create inspiring work.
In addition to the flexibility of space, you can also enjoy the flexibility of design. Create the space you want with the planning, design, and execution taken care of for you. Flexible office space providers like Compass Offices tailors customized workspace solutions that incorporates your business needs and space requirement. You can integrate your preferred service areas such as a private pantry, reception, lounge, meeting rooms, and more.
On top of enterprise-grade IT infrastructure readily available, Compass Offices also offer responsive IT support and bespoke IT solutions, a service popular with tech companies, as well as new ventures that are without a dedicated IT team.
With a fully furnished serviced office, businesses can plug and play, and begin at full speed from day one.
Article written in Collaboration with Compass Offices
Compass Offices operates 2 business centers in Ho Chi Minh City – Bitexco Financial Tower in District 1, and Vincom Landmark 81 in Binh Thanh, with flexible office space and serviced offices for 1 to 50+ people.
A leading flexible office space provider in the Asia Pacific, Compass Offices is present in 9 cities, serving over 20,000 satisfied clients.
For flexible office space inquiry, reach out at +84 28 6287 6199 or email VNsales@compassoffices.com.
