Page 50 - Horizon Han22

Language & Population:
The city-state of Singapore has one of the highest population densities in the world with just under 6 million people inhabiting an area which is only slightly bigger than the Isle of Man.
Within this dense population, numerous languages and cultural backgrounds live and work together.
Our culture expert Maurice explains just how diverse the Singapore population is.
Roughly, the population is made up of 74% Chinese, 13% Malay and 9% Indian and only two-thirds of the population are permanent residents. As such, just stating that there is a range of cultures would be quite an understatement.
With a range in cultures comes a range of languages. English, Mandarin, Chinese, Malay and Tamil are all official languages of Singapore. Thankfully (and probably to the relief of UK businesses), English is the language of both government and business.
In contrast, for businesses who wish to trade with Vietnam, you are going to either require an interpreter or, learn Vietnamese yourself. Though, due to its young population and improving middle-class, the use of English is becoming, and will continue to become, more common.
The importance of trust and respect to the business relationship:
Here is a quick warning for any business, negotiations tend to happen at a much slower pace than they do in western
countries.
This is due to potential business partners
from Singapore looking to build trust and a relationship with their foreign business partners that goes beyond just the workplace.
As such, don't be offended if you are asked questions about your personal life and family. Make time for these conversations and be open (as long as you feel comfortable) with your business partners.
Similarly, relationships are key to life (and therefore business) in Vietnam. As Maurice says “family values and relationships are valued above all” so it is worth taking the time to build that relationship.
Overall, helping them to understand you, as a person, can go a long way to potentially sealing a business relationship. On the flip side, without that trust and personal relationship, business can be very difficult in both Vietnam and Singapore.
Take care with business cards:
In the UK you could argue that business cards are something which we take for granted. For some, business cards only make an appearance at networking events and expeditions. Some would maybe go as far as admitting that the only time their business cards are used is when they see an 'enter your business card to win' prize draw at various stands across an event.
But, as Maurice will verify, you should not underestimate the importance of a business card and the message it portrays in these countries. Your business card tells the
recipient what it is your business does. It is no good simply including your business name and contact details, and there is an etiquette in the use of business cards, that is crucial.
When it comes to distributing business cards in Singapore, the passing of business cards is taken at a level we in England are not used to.
Always ensure that the name and writing on the business card is facing the recipient and, preferably when passing it across, hand the card over with both hands.
It is common for the recipient of a business card to study it, make eye contact with the individual who provided the business card and to carefully place the card in either a business card holder or a suit pocket (not just a trouser pocket).
There is a similar approach in Vietnam also. Take time when you receive a business card to read it carefully and make sure that when
you present your card you use the correct form to address the recipient.
Appreciate the importance of hierarchy:
In Singapore, status and hierarchy are really important with decisions and ideas coming from the top, rather than a general collaborative approach. As such, the most senior members of a business have the greatest influence on decision making to
Horizon - Taking your international trade further.
Horizon issue 2.indd 50 14/12/2022 14:50:22