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Moreover, due to the dramatic progression of Vietnamese food industry, the demand of imported dairy ingredients is higher than ever before. Another factor influencing the demand for imported foods is that more wealthy consumers with disposable income tend to spend more on dairy through expenditure from retail outlets and supermarket or dining out. In general, these consumers concentrate in the large cities like Ho Chi Minh city, Hanoi, Danang, Haiphong and Can tho.
Another advantage for Australia, in particular Dairy Farmer to import dairy products into Vietnam market is the geographical advantages. Compared with competitors from the USA and Europe, there is a shorter shipping time from Australia, thereby reducing transport costs and increasing the opportunities of the fresh chilled products, for instance fresh milk, yogurt or custard. In addition, at the end of 2006, Vietnam became a member of the World Trade Organisation (WTO), thereby reducing investment barriers including investment restriction, tariff, non-tariff barriers and subsidies.
Consequently, there is stronger trade framework not only to protect domestic economy but also encourage overseas countries to trade with Vietnam. Due to the reduction of tariff, the Agribusiness Group in Victoria (2009) find out that the performance of most important areas to Australia in past 5 years have significantly developed. However, in next 5 years, it is predicted that the trade between Australia and Vietnam will even become more noticeable. Additionally, Vietnam is known as a country with a diversified culture.
Majority Vietnamese speak Vietnamese; this can be a challenge for Dairy Farmers due to language barrier. In Vietnamese attitude, family and respect play a core role in every relationship. In order to successful run business in Vietnam, Dairy Farmers must understand and classify all aspects in Vietnamese life style. Nevertheless, supply chain management, import requirements and satisfying customers and/or consumers in delivering the product are key challenges in Vietnam like any other potential market.
Exporters have encountered considerable risks in importing goods into Vietnamese market as they have in other developing countries where a fragmented, non-transparent and often fraudulent supply chain exists. The selection of a reputable importer/agent who involves in the transactions that take place can address much of this risk. [pic] Introduction Recently, coupled with globalisation, a “borderless economy” is being created. This means that many organisations have more opportunities to be able to overcome the geography boundaries, but they also face increasing challenges due to market forces.
Consequently, Balmer (2009) shows that the world economy has witnessed the replacement from the state monopolies to the opening of national economies in association with the introduction of rules which have emerged promote the equal competition in the world market. Therefore, knowledge about international marketing is extremely important to the organisation. According to Czinkota, Ronkainen, Sutton-Brady, Beal (2008), international marketing is defined as the process in which the transactions are planned and conducted across countries’ boundaries to generate exchanges that meet the goals of entities involved.
The wider environment for the products translates into the requirements of an organisation to compensate for alterations in economics, politics and culture. This report’s aim is to analyse the macro environmental factors in Vietnam affecting Dairy Farmers when they want to import dairy products into Vietnamese market. Dairy Farmers Organisation has been known as a leading company in Australian dairy industry since 1900. In this report, there are three crucial environmental elements including the Vietnamese economy, politics and culture, in which Dairy Farmers can take some advantages, but also confront some challenges.
Vietnamese consumer purchasing have been always affected by the economic factors consisting of population, income, infrastructure and trading relationship between Australia and Vietnam. Moreover, laws, regulations and Government policies in the political environment may encourage or limit Dairy Farmers’ business in the Vietnamese market. Finally, Vietnamese customers’ key values and beliefs, which directly influence consumption patterns, belong to culture. Therefore, Dairy Farmers need to understand and identify these principles into consideration if they want to run business in the Vietnamese market.
Background of company and products The Dairy Farmers Co-operative Milk Co. Ltd. , which was established in 1900 by a group of New South Wales dairy farmers, has created the image of Australia’s best tasting milk (Dairy Farmers website, 2010). Over the generations, Dairy Farmers products have become a crucial part in Australian lifestyle have been in ongoing process to create its brand value worldwide. [pic] Dairy Farmers’ objective is the concentration on the quality of products in order to create the Aussie’s best loved dairy brand, which in urn a range of quality dairy products is produced to meet Australia’s demands. [pic] – Milk: Dairy Farmers has been manufacturing quality milk from 1900 (Dairy Farmer website, 2010). Recently, Dairy Farmers is introducing a new improvement which is a freshness seal to assure the quality of its bottled white milks. – Cheese: there are various types of cheese which comprises low level of carbohydrates, natural supply of protein and available from Full Fat to Reduced Fat cheese. Yogurt: Dairy Farmers’ yogurt products include Dairy Farmers Greek Style, Dairy Farmers Traditional, Bornhofften and Dairy Farmers Thick & Creamy, in which Dairy Farmers Thick & Creamy is the newest innovation in its product collection. This yogurt aim to truly thick and creamy but simultaneously contains real fruit flavour. – Creams and Custards: Dairy Farmers’ creams and custard products are considered as perfect ingredients for desserts. – Products for kids: Dairy Farmers takes one step further when it focuses on kid market by details: fun, health and variety of flavours.
Why chose Vietnam to export: Vietnamese market has been becoming a potential destination of Australian dairy exporter due to the boost of the Vietnamese economy and rising trade liberalisation. One consequence of the growing economy is the increase in demand for imported dairy products, which are used not only for consumption but also for dairy industry as ingredients. In January, 2007, Vietnam has become a member of WTO and now is an active participant of market access liberalisation upon its ASEAN Free Trade Area commitments.
As Stanton, Emms and Sia (2007) point out, currently, Vietnam is introducing WTO compliant import regulations and system at the first place as being a member of WTO and is phasing in its WTO bound tariffs from 2007 to 2012. Accordingly, this fact will offer more opportunities for dairy processors and exporters in the next 5 years and into the longer term. As a result, Vietnamese market will become more accessible for imported products such as milk, cheese or yogurt, even than Thailand and is no longer a closed market (Stanton et al, 2007).
Another advantage for Dairy Farmers is the competitive advantage of quality and location over its competitors. Main competitors of Dairy Farmers in Vietnam include low expenses nations from China and India and reputable suppliers such as the EU and the USA. However, as noted by Balmer (2009), majority of the products from China and India ordinarily is on the low-end and low price segment, which are opposite with products from Australian companies like Dairy Farmers. Furthermore, the benefit from geography also considered as crucial for Dairy Farmers.
In term of distance from the EU, the USA and Australia to Vietnam, the closer distance from Australia generates more profits for Dairy Farmers because of low shipping expense. As a consequence, this promotes the production of dairy goods since many Vietnamese food processing operators of all sizes tend to buy small amounts i. e. by the container load. Brief introduction to chosen country Vietnam is known as Indo China in the most eastern of the region, which includes Thailand, Vietnam, Laos, Myanmar and Cambodia.
With a total area of 327,000 sq km, 4,000 km of land borders and 3,000 km of coastline, Vietnam plays one crucial role in the Mekong Region (Balmer, 2009). The two important cities of Vietnam where the river delta flows through are Hanoi and Ho Chi Minh. In the north of the country, the political capital Hanoi is located on the Red River while Ho Chi Minh is on Mekong River in the south. These advantages of location have promoted the development in agriculture for both cities. Along with the long coastline, the fabulous scenery of beaches and islands has become magnificent destination of domestic as well as international tourists.
As the result of the growing tourism, there is a remarkable development of the food service industry in association with an increase in food demand. [pic] Economic analysis [pic] Marketing is essentially an economic activity and Dairy Farmers most understand the economic environment in which they operate. The global economy is very complex and fast changing. Nowhere has economic change been more marked than in east, South-East including Vietnam and south Asia, and this has had a profound impact on the possibilities and practice of marketing from Australia. . Economic development: The dramatic growth in economy has made Vietnam an attraction to countries in the region. In fact, as a report by Balmer (2009) reveals, 2004 has experienced an increase of 30% in exports and 25% in imports. In tourism, a 30% of growth is recorded per year. Moreover, the workforce is abundant, in which skilful and young workforce (one third of population is under 15 years old) and their focuses on entrepreneurship are considered as the country’s strengths. However, the economic development is not distributed equally nationwide.
Typically, HCMC with the population of 7 million has reached the GDP of US$1,500 per person which is higher than the average income of US$540 per person in Vietnam, Balmer (2009) reveals. Nonetheless, most Vietnamese livelihood relies on farming and is self-provision based. 2. Population: According to data collected from research by Balmer (2009), Vietnam’s population reached 85. 6 million in 2007 and Vietnam became the most populous in the South East Asian region. Especially, the population was considerably booming after the Vietnam War.
In order to manage this situation, the two-child-only policy was implemented. Therefore, the growth was stabilised for a decade, but after that, there was an increase in the population at 6% from 2004 to 2005 (Balmer, 2009). Additional, Balmer (2009) also points out that the population is expected to climb to 100 million by 2024. This is a fabulous opportunity for Dairy Farmers to meet the enormous demand of Vietnamese people regarding to milk for infants, youngsters and older citizens. 3. Income:
According to Czinkota et al (2009), income is the most indicative of the market potential for most consumer and industrial dairy products. Australian food companies including Dairy Farmers are increasingly considering Vietnam as potential market. Stanton et al (2007) reveals that the Vietnamese economic growth was recorded as 8. 2% in 2006. One result of growing economy is the boost in household incomes in Hanoi and Ho Chi Minh City and moreover, a considerable number of middle incomes are established in these two big cities.
According to data in the report of IDA – the International Development Association, the World Bank’s fund (2009), over the past 10 years, 7. 2% is the growth of real income in Vietnam. In particular, income per capita increased from US$170 in 1993, when there was the re-engagement between World Bank and Vietnam, to US$1,000 in 2008. Moreover, there was the reduction in the poverty rate from 58% in 1993 to 16% in 2006 (IDA, 2009). Hence, dairy products, which are not luxury products, can be more affordable for Vietnamese customers. 4. Consumption patterns Vietnam is a country in economic transition.
Although it is classified as having one of the lowest levels of dairy product consumption in the world (8 litres/person in 2005, compared with 50-60 litres in Malaysia and China and 100 litres in South Korea), based on a book of Lindgreen, Hingley and Vanhamme (2009), the situation is changing rapidly. The Vietnamese are quickly taking to Western tastes in foods. The consumption of fresh milk, yogurt, condensed milk, ice cream and other dairy products is growing very fast, especially among the younger, well-educated, well-to-do class living in urban environments.
Although the national production of fresh cow’s milk increased from 50 millions litres in 2000 to 190 millions litres in 2005, growth is still too slow to satisfy demand that has sky-rocked to 650 millions litres (Lindgreen et al, 2009). According to Lindgreen et al (2009), Vietnam therefore has to import 70-80% of its milk volume to meet its needs in the context of globalisation and opening market. 5. Infrastructure: Like other developing nations, Vietnam is in ongoing process to develop, therefore, there is still insufficiency in infrastructure.
According to Dong (2005), Vietnam does not have strength in producing dairy products due to poor infrastructure system which are transportation, roads and inadequacy of cold storage. Consequently, there are challenges in delivering products to customers out site producing areas. Additionally, due to the weak infrastructure for distribution, the accessible abilities to fresh dairy products for people, who live in small cities or rural areas, are limited. 6. Trading relationship between Australia and Vietnam association with dairy industry:
The lesson learnt from the collapse of Union of Soviet Socialist Republics (USSR) in 1986 has encouraged the Vietnamese Government to move from a centrally planned economy to open one, the process is known as Doi Moi, economic restructuring or reform and subsequently, Vietnam joined WTO in November, 2006 (Balmer, 2009). Indeed, as research by Balmer (2009) has shown that Vietnam needs to diminish its trade and investment barriers including subsidies, tariffs, non-tariff barriers (NTB’s), intellectual property rights (IPR) and investment restrictions in order to enter WTO.
Even though this fact induced an improvement in trading environment and more demand for imports, the complexity in import procedures still remains and causes trading limitations. As a result of the pressure from it trading partners, Vietnam has signed agreements with countries such as USA, ASEAN countries and Australia declared the country to release trading restrictions, in particular, lifting tariffs and non tariff barriers comprising special product restrictions, licensing and quotas (Balmer, 2009). There are several agreements between Australia and Vietnam that encourage Dairy Farmers to export dairy products into Vietnam.
These agreements are cited in the research of Balmer (2009): – December 2004, the agreement about extending Most Favoured Nation status to Australia, thereby reducing the tariffs on a range of products including cheese. – March 2006, the Bilateral Relationship on Economic Trade in Goods and Services signed. There are dairy products in the agreement about food products. – April 2009, Australia, New Zealand and the ASEAN integrated into one association as named the ASEAN Australia New Zealand FTA (AANZFTA), which decreases or even eliminates tariffs for majority of Australian products exports.
In other word, AANZFTA does not generate direct benefit, but in the long term, trade and access conditions will be improved. 8. Challenges: Vietnam has become a country with significant import quota of food products in the last 10 years that lead to a lack of in-depth understanding from retailers, importers and distributors in Australian products and services available (Agribusiness Group, 2009). As a result, this fact has challenged the ability to promote Australian’s profile in Vietnam in ssociation with the capability for Victorian suppliers to see Vietnam as a feasible, developing market. There are similarities between Vietnam and other emerging markets regarding to a fragmented and non-transparent supply chain in association with noticeable challenges to exporters. In the report in 2009, Balmer found that the domination of a sizeable number of small family business and the time consuming habit of Vietnamese are really risky for overseas companies, this case is Dairy Farmers, to establish a trustworthy associates.
One more disadvantage for Dairy Farmers in Vietnam market is the market liberalization under ASEAN or some special two-sided agreements among Vietnam, China, ASEAN countries and domestic dairy industry, which are main competitors for Dairy Farmers, Agribusiness Group (2009) claims. As the result, these agreements provide lower tariffs than for Australian companies. Finally, since the uncontrolled growth of the Vietnam’s economy in most sectors, inflation, which roughly climbed to 25% in 2008 (The Vietnam education foundation, 2009), raises more concerns for exporters.
Accordingly, importation will be restricted and, in the short-term, will become more expensive. This could be an obstacle for Dairy Farmers to export into Vietnam Political analysis [pic] Managers of Dairy Farmers cannot afford to implement international marketing transactions in Vietnam without the effects of its policies and regulations of the firm’s location. Accordingly, Dairy Farmers should be aware of the structure of Vietnamese Government, regulation as well as potential risk in term of imported dairy products. 1. The structure of Vietnamese Government:
Vietnam is a socialist republic where features such as elected legislature, the national assembly, a president as head of state, and a prime minister as head of Government are included in its Government (The Vietnam education foundation, 2009). The Communist Party is the one holding the most political power of the country that its members occupy the administrative and executive positions in the Government. The decision of indicating who can run in election is made by the party’s Fatherland Front and all Governmental policy initiatives are set up based on the guidelines of its politburo.
The Communist Party general secretary is the most powerful person in the country beside the prime minister, the president, the minister of public security, and the chief of the armed forces. Women and ethnic groups have their own representatives in the Government. How to maintain a balance in regional interests is among the most crucial delicate issues in the Government. 2. Export control Based on information from Australian specialist cheese-maker’s association (2010), all dairy products made from bovine milk are regulated by Federal Law since these products are classified as controlled ones.
With the prescription of current law, existing suppliers find it comparatively easy to meet additional criteria upon the regulations. Furthermore, according to the new legislation issued on 1st July 2005, it will be more feasible for manufacturers to obtain an export license (Australian specialist cheese-maker’s association, 2010). Alternative sources for milk products such as ovine (sheep), bubaline (buffalo) and caprine (goat) are being verified under the new food standards code formulated by FSANZ (Food Standards Australia New Zealand) and finally exported upon these guide lines (Australian specialist cheese-maker’s association, 2010).
These products are free to export since they are beyond the existing legislation, which is advantage of Dairy Farmers to export their products into Vietnamese market. 3. Import control: a. Foreign restrictions: Previously, in the purpose of protecting its domestic companies and traditional sector, Vietnam has restricted Foreign Direct Investment (FDI) in the food retail sector. If foreign firms hold less than 50% of total share, they will be allowed to operate in Vietnam by the Government, Balmer (2009) states.
Furthermore, Balmer (2009) also claims that there is another barrier that overseas companies cannot legally possess a land in Vietnam but can gain the rights to use the land from the authorities. These restrictions have prevented the development of a modern retail food sector generally and dairy sector particularly in Vietnam and local companies from gathering retail experiences and knowledge offered by foreign ones. Conversely, with the purpose to join in the WTO and other economic agreements, for example the Bilateral Trade Agreement with America, deregulation is recently happening.
As noted by Balmer (2009), from 2004, the disappearance of foreign restriction led to the permission of joint ventures between overseas organisations and Vietnam. In recent times, with an opening market, overseas organisations like Dairy Farmers are encouraging to participate into the Vietnamese economy. b. Tariff: The introduction of market-oriented reforms has guided Vietnam to more open trading system that led to a significant growth in both imports and exports.
The Government applies import tariffs depending on type of product such that wheat and dairy products which cannot be produced in Vietnam may take advantages of this. In particular, the import tariffs for these products are low to promote domestic value-added processing (Country report, Vietnam, 2009). As long as import tariffs and VAT are key factors in determining a producer’s cost structure and price plays an important role in deciding food industry sales in Vietnam, a close relationship with importers should be built. 4. Political risk
When Dairy Farmers want to run business in Vietnam, they should analyze all potential risks which can limit their operation. There are some adverse problems in Vietnamese politic. Firstly, there are differences in controlling currency in Vietnam when compared to Australia. The Vietnamese Government efficiently pegs and controls the Vietnamese dong to fluctuate within a small range (Country report, Vietnam, 2009). Nevertheless, Dairy Farmers can use forward contracts, in which buyers will purchase a currency at a fixed price in the future.
Secondly, the alterations of tax and labor law in Vietnam should be carefully considered by Dairy Farmers’ managers. Due to the most complex tax-system in Asia, business turnover tax, exercising tax, licensing tax and so on are required to companies, particularly Dairy Farmers, according to Country report, Vietnam (2009). Moreover, there are reductions in tax, thereby can reducing the profit of Dairy Farmers. However, Dairy Farmers can take advantages in labor law. This is because the flexible labor law and cheap labor force in Vietnam.
Thirdly, in all aspects of business, corruption, which obstructs overseas business activities, has been identified in Vietnam not only by foreign organisations but also by local private sector companies. In 2007, ICON Group International, Inc revealed that 2. 4 out of possible 10 points on Transparency International’s Corruption Perception Index is Vietnam’s score, that is under Thailand and Malaysia but over Indonesia. Generally, although these risks are relatively challenges to overcome, Vietnam still is a great destination to invest for Dairy Farmers in the future.
Culture analysis [pic] Having a thorough understand of what effects customer’s behaviour in different markets is a requirement for marketers to exploit the benefit from global market. Czinkota (2008) defined culture as behaviour values achieved through learning to differentiate characteristics of members of a given society. These values are identified by answering the question of how a group thinks, says, does and makes, i. e. its customs, language, material artefacts, shared system of attitudes and emotions.
In conjunction with dairy product, Vietnamese consumer buying process is consistent across culture, which influences each step of decision making process. The origins of Vietnam can be considered as being formed in the past 5,000 years ago. Originally, Vietnamese society was separated to Annam in Central Vietnam, Cochin China in South Vietnam and Tonkin in North Vietnam (Gordon, Bernadett, Evans, Shapiro and Dang, 2006). Furthermore, there was an influence of Chinese in Vietnam’s culture resulting from the colonization over decades.
In other word, this directly affects Vietnamese customers’ behaviour such as family oriented, concentration on freshness and balance of foods. 1. Language: Vietnamese or Kinh/Viet, which is officially recognised as the national language, is spoken by more than 80% of Vietnam’s population. Quoc Ngu and the Romanized transcription of the Vietnamese language was developed in the 17th by European missionaries (Balmer, 2009). Language plays an important position in marketing communications and Dairy Farmers’ marketers must pay attention to the differences in Vietnamese language.
However, because majority of population speak Vietnamese but not English, the differences in natural languages can be a barrier that Dairy Farmers faces on the path of internationalisation. In order to address this problem, Dairy Farmers may need the assistance of good local advertising agency and a good local market research firm. 2. Religion: Some typical religions in Vietnam are Buddhism, Catholicism and Muslim which account for around 90%, 5-10% and less than 1% of Vietnam’s population, respectively (Balmer, 2009). Traditional religious beliefs remain powerful force in shaping behaviour.
The differences among the main religions as well as within them must be considered by Dairy Farmers’ marketing managers. Furthermore, major holidays are often tied to religion. In Buddhist cultures, New Year celebration for the Vietnamese falls in early February; and Christian cultures observe Christmas. In order to effectively organise events such as market surveys or marketing programs, Dairy Farmers should identify the local holidays’ schedules. 3. Value and attitudes: The essential of family and community is the highlight of Vietnamese cultural values.
Being oriented to family since childhood, Vietnamese people have an in-depth understanding of family values that influences their attitudes in buying. In a typical family in Vietnam, in term of age and contribution to the family, parents are very important characters and gain the most respect, but in regard to the ‘root’, the future of the family, children draw the most expectations. In Vietnam, children play a critical role rather than old parents. Accordingly, in consideration of needs in Vietnam market, ages and kids should be on high priority. This is a crucial point that Dairy Farmers should concentrate on.
Health care products for ages, kid’s products are also recognized as big need. They should develop some particular products like milk for old people which provide extra nutrition, calcium or contribute to prevent diseases related to old age. Moreover, for youngsters, dairy products should contain purpose to stimulate the development of brain or to be a source supplying energies for children. 4. Manners and customs Interpretations to deduce conclusion in negotiations require a broad view of manners and customs rather than one’s own frame of reference only.
Therefore, this is really important requirement for Dairy Farmers when they want to do business in Vietnam, where there is a diversified culture. Vietnamese’s manners are obviously reflected in the methods how they search information. Although, there is a bunch of ways to gain information, such as personal, commercial, public and experiential sources, Vietnamese customers are more willing to accept information from their acquaintance – words of mouth. They like to collect information from their friends, family members or other family people.
Hence, Dairy Farmers’ marketers should exploit this aspect to make their products approachable to their customers. 5. Education / literacy: The literacy rate in Vietnam is 94% of total population, which is considered relatively high in case of a developing nation by Balmer (2009). Education, instead of success and material wealth, is the cornerstone of culture and family based. Indeed, an educated person is appreciated than uneducated one even from a rich family. In a conventional society, the top of the social hierarchy is the scholar, over the farmer, the artisan and the tradesman (Truong and King, 2006).
Education in a family is the responsibility of parents. As mentioned above, education can become a potential sector for Dairy Farmers to exploit. Dairy products can distribute to schools as ingredients in school meals or as essential drinks for students. 7. Social institutions. This influences the methods in which Vietnamese relate to other people. Respect is core principles among every relationship. Vietnamese people respect others depending on age, social status or authoritative position (Parker 2007).
Furthermore, human resource management in Vietnam need to consider family relationships and Vietnamese’s obligations to family, because family plays a key point in all Vietnamese’s relations. Dairy Farmers can avoid unnecessary obstacles in performing business transactions if they understand these principles. Conclusion Globalisation has become a phenomenon and a process, in which not only every single country but also all organisations throughout the world need to be aware of the benefits as well as challenges along with globalisation. In this process, Vietnamese market provides various opportunities for one of he best Australian dairy companies – Dairy Farmers. This is because of the increasing in demand of Vietnamese customers. They are in hungry of quality dairy products not only for consumption but also for the domestic dairy industry as ingredients. Due to the growth in Vietnamese economy, Vietnam is a crucial export market for Dairy Farmers and even continues to develop in essential. Furthermore, after participating in WTO, Vietnamese regulations have been approved and developed to encourage overseas companies, particularly Dairy Farmers, investing into Vietnamese market.
Finally, regarding to the cultural aspect, the particular traits of Vietnamese people, who concentrate on family, have changed in order to be able to adapt with the common trend in the world. However, couple with these advantages, there are some adverse problems which are required an in-depth and widely view from Dairy Farmers. These can be risks for Dairy Farmers in term of distribution, inflation, corruption or language barrier. These three macro environmental factors must be carefully analysed by Dairy Farmers’ marketers and managers. Anyway, Vietnamese market is a promising market for Dairy Farmers’ products ahead.
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Centre for agricultural and rural development. Gordon, S. & Bernadett, M. & Evans, D. & Shapiro, N. & Dang, L. (2006). Vietnamese Culture: Influences and Implications for Health Care. Molina Health Care. Lindgreen, A. & Hingley, M. & Vanhamme, J. (2009). The Crisis of Food Brands (Food and Agricultural Marketing). MPG Books Ltd, Bodmin, Cornwall. Parker, P. (2000). Executive Report on Strategies in Vietnam. Icon Group International, Inc. Stanton & Emms & Sia. (2007). The Vietnam Dairy Market – 2007 to 2012: A Review of Strategic Opportunities and Directions for Dairy Product Exporters.
Asia–Dairy Series. The Dairy Farmers Co-operative Milk Co. Ltd. Retrieved on 23rd August, 2010 from http://www. dairyfarmers. com. au/home The International Development Association (IDA). (2009). Vietnam: Laying the Foundation for Sustainable, Inclusive Growth. The World Bank. Truong, T. & King, B. (2006). Comparing Cross-Cultural Dimensions of the Experiences of International Tourists in Vietnam. Journal of Business Systems, Governance and Ethics. 1(1). 65-75. Vietnam. (2009). Country Report. The PRS Group, Inc. East Syracuse, USA. The Vietnam Education Foundation. (2009). Introduction to Vietnam.