Vietnamese Entrepreneurs in Poland

More Than Just 'Sajgonki'

More Than Just ‘Sajgonki’

Is Poland a promised land for Vietnamese immigrants? Years ago many were holed up in small huts selling spring rolls, but now they are buying exclusive Warsaw apartments, limos and are more likely than ever to visit expensive shopping malls. Karol Hoang, owner of Asean, an Asian real estate agency, claims that Warsaw is a perfect place to get rich in. You can complain about the Social Insurance Institution (ZUS) or the Tax Office but what for? After all, red tape can be found all over Europe. Karol Hoang has been working with Chinese and Vietnamese people for over 8 years. He sells land and warehouses on the southern-eastern borders of Warsaw where they are purchased mostly by businessmen working in Asian shopping centres in Wólka Kosowska near Warsaw. The agency offers residences for sale worth PLN 1 to 3 million as well as rented establishments from PLN 3,500 to 4,500 a month. Hoang now wants to attract more Polish customers. “When I started my business, there was little room on the market. Competition was fierce on the restaurant market so I decided to sell real estate,” says Hoang. He managed to set up a rather large business, at least by the standards of Wólka Kosowska. He employs two office workers, four real estate agents, has opened a DHL courier point and an InPost agency. What is more, he owns an Asian models and actors agency.