Job Discussion Forums

[haller_79]

Vietnam-America Education Group (VMG) was established following the license number 0308243975 by Department of Planning and Investment, Ho Chi Minh City on Dec. 07th 2009. Although it had just been established, but it can be said that this is one of the first groups in Vietnam participating in education activities. Currently, VMG manages and owns Viet My English education system in Dongnai, Ho Chi Minh City and Danang. In the following years, VMG will continue to expand its scale and improve Viet My Education system, the first priority is for English school system in all provinces of the country.

http://www.vietmygroup.edu.vn/Default.aspx

[Mattingly]

This organization has seen enrollments drop significantly in recent years. The pay is low, and remember the scheme to illegally back tax teachers a few years ago.

It's a sinking ship. I don't even know anybody who works there anymore.

[snollygoster]

You are talking about VATC. Vietnamese American Training College.
I looked at this posters web site, and I didnt see any names or faces I recognized.
I have doubts this is the same organization, just another start up trying to cash in on a variation of a well-known name.
No evidence- just feels that way. If it was really VATC why dont they mention their other branches also? Makes me think its NOT VATC.

[haller_79]

Only reason I mentioned it was becaue of the 'Viet My' part which is what VATC have on their signs. Also I recognised one of the names as a former VATC manager. It's all probably totally unrelated but what would life be without gossip and conspiracy theories.

[deadlift]

[snollygoster]

The number of cafes or shops I see getting built only to never open, or close within a few weeks, is huge.

Typical Vietnamese lack of forward planning. Tomorrow will look after itself. A nation of "Mr Macawbers"- "Something will turn up".

I recall doing (so called) business classes and when I wanted to introduce the idea of writing business plans, I was shouted down because that was "irrelevent" to the reality in business.

Crisis management-stumbling from one crisis to the next.

[bludevil96]

[tonyjones01]

Re: Are this mob taking over VATC?

I think they is

[spycatcher reincarnated]

Agree with bluedevil on this one. Going through a business plan can flush out issues that wouldn't have otherwise been thought about, but people who make business plans are more likely the people who work for large corporations and are generally not very entrepreneurial by nature.

Many a good business venture has been halted because of the contents of a business plan.

In the West business plans are primarily made to seek investment. In Vietnam it is difficult to find finance for a start up (if it can be found from a reputable organization it is usually at a cost of capital around 45% p.a. ) so people just ask their family and friends, hence no business plan needed.

In fact most start ups in the West actually finance their businesses with their credit cards. For people like this the real reason they should have a business plan is to get key staff on board. Here key staff are less sophisticated/less risk adverse, partly because it is so easy to get another job, so this is not usually an issue for them.

Yes, a huge amount of new ventures fail everywhere and in countries like Vietnam, where there are a lot of uncertainties and a lot of opportunities, it is very hard to forecast anything for a new venture and a business plan largely becomes an exercise of garbage in and garbage out.

I believe the Vietnamese people are very eager to learn and are becoming sophisticated investors much quicker than most other nations with a similar GDP per capita.

Some IFC numbers: http://www.doingbusiness.org/data/exploreeconomies/vietnam#starting-a-business

Back to subject. VATC......