Doing Business in Vietnam
The economic boom in Vietnam is good news for international vendors. Overseas designers are working on new projects, while existing players are sourcing rides and equipment from vendors in China and Europe.
Among the international companies that have found success here is Texas-headquartered Extreme Engineering. Its 122-meter-long Cloud Coaster at Vinpearl’s VinWonders Phú Quốc will be the company’s largest outdoor project in Asia. California-based Legacy Entertainment designed the Sea Shell Aquarium, which is scheduled to debut this summer nearby, while Orlando-centered ITEC Entertainment designed a castle with dark rides and a coaster at Ba Na Hills. Water slides from Canada-based ProSlide and WhiteWater can be found in Vietnam’s water parks.
Vietnamese operators are “still quite conscious of capital budget, though” warns Chris Yoshii, global director for AECOM. “Tried-and-true, proven products,” he says, have a better chance of success than newer technologies. International companies will also face steep competition for facade, rock work, and scenery contracts from domestic suppliers.
“The key thing is being prepared to back up a product with after-sales service and training support,” adds Brad Loxley, chief operating officer of Sun World, who says suppliers need to cultivate ongoing relationships with attractions companies in Vietnam, and not just pursue one-off sales. “Don’t just sell the product and move on to the next sale. Make sure that the equipment being provided is operated and maintained in the right way,” Loxley concludes.