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This paper offers local perspectives on how to do business in Vietnam, economic landscape of which has emerged as one of the fastest-growing economies globally following the 1986 Doi Moi reforms. It highlights the recent substantial influx of foreign capital across predominant sectors. It then scrutinizes the cultural aspects for business practices in Vietnam, focusing on interpersonal relationships, communication styles, and social norms. It concludes that a comprehensive understanding of both the economic environment and cultural nuances is essential for global entrepreneurs striving for success in the Vietnamese market. It offers managerial implications for effective business strategies in the region.