Vietnam’s financial markets closed for Lunar New Year holidays

, Vietnam’s financial markets closed for Lunar New Year holidays

If you are an expat working in Vietnam, this is a great time to travel. You may return home for a visit or fly to nearby countries to take advantage of the 9 day break.

Vietnam’s financial markets will be closed from Monday Jan. 31 to Friday Feb. 4 inclusive for its Lunar New Year holidays (Tet holidays). Trading will resume on Monday Feb. 7.

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Tet, the most important holiday of a year for Vietnamese, is approaching fast. Most businesses are busy finishing up the financial year and deciding bonuses for employees, while people in the country and city are already planning on what to wear and how to spend their vacation.

Tet, the most important holiday of a year for Vietnamese, is approaching fast. Most businesses are busy finishing up the financial year and deciding bonuses for employees, while people in the country and city are already planning on what to wear and how to spend their vacation.

, Vietnam’s financial markets closed for Lunar New Year holidays

, Vietnam’s financial markets closed for Lunar New Year holidays

Business, individuals and tourists definitely need to reconsider their plan as a recent proposal made by Ministry of Labour, Invalids and Social Affair (MOLISA) to the government to extend Tet this year to 9 days. Vietnamese working in the government agencies and private companies will have days off from January 21 to January 29th. The following week, working day will be from Monday January 30th to Saturday February 4th to make up for one lost day of the week before.

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If you are travelling to Vietnam in the above mentioned period, you probably should apply for a visa from now. It takes 5-7 business days for a visa to be processed by Vietnamese embassies abroad and 2-3 days in case of visa on arrival. Note that all Vietnamese entity abroad (including embassies and consulates) will observe Tet holiday so no visa can be issued. Without a visa, you will not be allowed to enter Vietnam and may need to cancel your flight and all tours.

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If you are doing business with a Vietnamese partner, keep in mind of the long holiday. Start the new year with smiles and greetings and avoid all the harsh bargaining or negotiation. Most Vietnamese businesses how they start the first few days of the year will dictate the next 365 days so they will avoid all dispute if possible.

If you are an expat working in Vietnam, this is a great time to travel. You may return home for a visit or fly to nearby countries to take advantage of the 9 day break.

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