Vietnamese brands assert stature in international arena   ‘Wonders of Europe’: Vincom Mega Mall Royal City opened in Hanoi in July Nhan Dan - Despite the present difficult economic climate, many Vietnamese enterprises have weathered the storm and succeeded on the international market armed only with their prestige, influence and competitiveness. Below are several outstanding enterprises that have prospered by relying on their vast experience, innovative ideas and effective strategies. The Vietnam National Textile and Garment Group (Vinatex): An important link in the global supply chain President of the Vietnam Textile and Apparel Association and Chairman of Vinatex Vu Duc Giang said that in recent years, people often talk about business restructuring as a way out of economic crisis. Vinatex has carried out the restructuring over the past 15 years and has integrated into the international market, confirming its position as an important link in the global supply chain. Although textile imports to many key markets have dwindled, Vinatex has managed consistent, even increased exports to such markets. In the first half of 2013, Vietnam’s textile industry brought in US$7.89 billion in export revenue, a year-on-year increase of 15.4%, placing Vietnam in the top five textile exporting countries in the world. Vinatex produced 16% of the national figure, fulfilling its role as the pillar of the Vietnam textile and garment industry. Vinatex has expanded its investment in design, brand development and distribution channels, taking a balanced approach to sustainable development and claiming an enhanced role on the global supply chain. FPT Corporation: Positioned on the world map According to Deputy General Director of FPT Nguyen The Phuong, FPT aspires to become a global supplier of smart services. By 2015, the firm expects profit from foreign business activities to rise from 8% to 30% of its total profit. To achieve the target, FPT plans to develop in three main directions. Firstly, FPT continues to boost business activities in the areas where it has advantages, including information technology and telecommunication. Secondly, it focuses on promoting expansion in foreign markets. Finally, it pours investment into research and development activities to create high-quality FPT products and establish consumer trust. FPT believes that now is the right time for Vietnam to establish itself in the technology field and to compete for lucrative international contracts and technology transfer. Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank): Vietnam’s leading brand VietinBank enjoys a proud place as Vietnam’s largest commercial bank with high-quality assets, a high-value brand and outstanding credit and investment of VND468 trillion (roughly US$22 billion), said VietinBank CEO Nguyen Van Thang. The successful issuance of US$250 million in bonds on the international market and a listing on the Singapore Stock Exchange in 2012 contributed to confirming VietinBank’s brand on the global financial market. VietinBank is the only Vietnamese bank to make the Forbes list of the 2,000 largest global firms for two consecutive years (2012 and 2013). It also made the list of the Top 500 most valuable banking brands in the world. In 2012, VietinBank’s total assets surpassed VND503 trillion (US$23.8 billion). The bank has an average annual growth rate of 34%. It has developed a wide network in Vietnam, and three international branches in Frankfurt, Berlin and Vientiane, Laos. The bank has also successfully shifted its operations into a joint-stock model with a rapid chartered capital growth rate and the most diversified shareholder structure in Vietnam. Vietnam Dairy Products Joint Stock Company (Vinamilk): Vietnam’s milk Vinamilk CEO Mai Kieu Lien said the launching of ‘Vinamilk’s giant plant’ in April has helped raise the company’s profile, putting Vietnam on the map of the world dairy industry. Vinamilk aims to become a key player in the dairy industry in Vietnam and in the region in its strategy for 2010 – 2015, with a vision to 2020. Vinamilk products are present in 26 countries around the world. Half of the company’s milk powder is exported to foreign countries, accounting for 70% of Vinamilk’s total exports. The company has also opened the gates into large potential markets such as America, Asia, Australia, Canada, France, Germany, Russia, Poland, Czech Republic, China, Middle East and others. The company has also received many prestigious domestic and international awards. Remarkably, Vinamilk was selected by Forbes Magazine as one of 200 outstanding Asian companies in 2010. Vinamilk is now working to expand onto the international market. It aims to achieve a revenue of US$3 billion in 2017 and to become one of 50 largest milk producers in the world. Vingroup Joint Stock Company: Real estate pioneers General Director of Vingroup Le Thi Thu Thuy explains that Vingroup is one of the leading private companies in high-class tourism and real estate with its two strategic brands: Vinpearl and Vincom. After ten years of with tireless effort, Vincom has become a prestigious brand name in the field of high-grade real estate. It has developed a series of shopping centres, offices, and superior apartments located on prime real estate in big cities. Meanwhile, Vinpearl has quickly become one of the leading firms in the tourism sector with a chain of world-class hotels, resorts, sea villas, entertainment parks and golf courses. Adding to its two strategic brands, Vingroup is expanding into the health sector with its Vinmec brand, the education sector with its Vinschool brand, and into health care with Vincharm. Vingroup has attracted capital from many foreign investors, demonstrating the prestige, stature and the capacity to integrate into the world market of Vietnam’s leading private economic group. Vietnam Military Telecommunications Group (Viettel): Strength in difference Deputy General Director of Viettel Duong Van Tinh said that the success of Viettel comes down to the differences. Firstly, it has developed an extensive infrastructure network. In any country where Viettel invests, it creates the largest and most stable infrastructure. Secondly, Viettel stimulates the pride of local people in foreign markets and engages in technology transfers. Viettel said that after several years of operating in foreign countries, only 5% of workers are Vietnamese people because business activities are transferred to local people. In this way, local people think of Viettel as their own company and are dedicated to their work. Thirdly, Viettel associates its business activities with social responsibility. Viettel’s strategy in foreign countries has experienced initial success. Mobile networks launched by Viettel, such as Metfone in Cambodia and Unitel in Laos, have become the largest telecom networks in these countries after two years of operation. The Movitel network, which after running in Mozambique for five months was praised by African community, winning the 2012 African Communication Award in the Rural Telecom category for being the best firm that helps improve telecommunication in rural areas. Vissan Limited Company: Continuously enhancing value According to Vissan Managing Director Van Duc Muoi, the development model and brand strategy of Vissan are based on the continuation of inherent value and innovative thinking in the context of rising competition and new business trends. As a 100% State-owned enterprise established in the 1970s, Vissan has always maintained a stable growth rate despite the huge difficulties of economic crises. Facing the challenges of integration and globalisation, many Vietnamese businesses lose direction, go bankrupt or have to merge with multinational groups. But Vissan has retained its prestige, improved its value and developed further. Trung Nguyen Corporation: Overcoming obstacles According to Chairman of Trung Nguyen Group Dang Le Nguyen Vu, Trung Nguyen has set targets to become a global brand, build a coffee sanctuary for coffee lovers of the world and achieve a revenue of US$20 billion per year. Trung Nguyen’s coffee sanctuary is an integrated complex composed of plantations, a research and development centre, the factory, a resort, a spa and a coffee museum. In 2013, Trung Nguyen is determined to go global. At first, it will enter the ASEAN market and consider as the bloc as its domestic market. Then, Trung Nguyen will start its entry into the US market by acquiring US factories and opening Trung Nguyen stores in select cities, like Seattle, New York and Boston. Nhandanonline