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Dong Nai entrepreneur’s innovating efforts in integration

​The extensive integration trend and the open economy as well as the demand from industrial revolution 4.0 are creating numerous opportunities for enterprises and entrepreneurs to thrive. However, at the same time, there are also many challenge for Vietnamese entrepreneurs.


​In Dong Nai, with the provincial companion policies, local enterprises and entrepreneurs are showing their innovating efforts in developing and integrating.

Changes to survive and develop.

In 1997, Mr. Tran Ba Duong established Truong Hai Auto Join Stock Company (THACO) in Bien Hoa 2 Industrial Zone (IZ) with only a small factory. The original model was to buy used car, refurbish and the re-distribute to the market. With the “Stand on the Giant’s shoulder” strategy, THACO cooperated with the international big corporations, after 20 years, from a small factory, THACO became a big corporation in Vietnam with 1 branch in Dong Nai, 3 offices in HCM City, Hanoi and Chu Lai (Quang Nam). The Chu Lại – Truong Hai Auto Assembling and Manufacturing Complex has the area of nearly 60ha, including 25 companies and factories which manufacture and assemble coaches for KIA (Korean), Mazda (Japanese), Peugeot (European). The distribution system consists of  93 showrooms and 59 agencies nationwide with the total of 16,000 labors.

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 Provincial Permanent Deputy Secretary – Mr. Tran Van Tu (second from the right) visiting provincial enterprises’ booth.
 
In 2016, also in Bien Hoa, a 24-year-old young man named Pham The Linh established The Linh One Member Limited Company with only 5 million VND of initial capital. Starting from a small bedding accessories business with only a few workers, the young boss had to do all the works, from machine controlling to street selling. Today, The Linh is a well-known brand with network of over 1,000 branch nationwide. From the old technology at the beginning, now, The Linh’s products are made with high quality Korean technology and appear in markets in all over the South Eastern area, Highlands, South Western, and Northern areas… with the revenue of 120 billion VND/year. Without stopping there, The Linh is fostering the idea of exporting the products to the nearby countries.
 
Those are only 2 among many stories about Dong Nai entrepreneurs who started their modest business and gained huge success. To reach their currently successful career, those enterprises had to made tons of changes and innovation while maintaining their passions. “Don’t wait until your enterprise get bigger to change and get creative. To survive, the entrepreneur must show his real passion with his career and always try to keep it alive. If you cannot adapt to the market change, you will be out. A lesson learned from Nokia – a global biggest mobile phone corporation for a long time, fell down for not adapting to changes. Things like that can still be seen around”. Said Mr. Tran Ba Duong – THACO Chairman of Board of Director.
 
Sharing the same opinion, Mr. Pham The Linh said that the reason for his enterprise to keep up the developing until now was the creativity of him to follow the niche markets earlier. If THACO was the first of a kind back in the day, The Linh was a late comer at the bedding accessories markets. Therefore, they chose not to open showrooms or level 1 agencies but to sell the product directly to the other agencies. Thanks for the direct sale policy, The Linh could directly handle every problem incurred in every smallest aspect. “The markets change very quickly, especially the consuming products markets. Thus, the enterprise must catch up with the change and change their products accordingly to meet the customer’s demand”. Said Mr. Linh.
 
Accompanies enterprises
 
According to the Provincial Department of Planning and Investment’s data, there are over 28.800 registered private enterprises. Those strong and developed enterprises and entrepreneur are the proofs for the positive changing in the provincial investment environment that is attracting more enterprises to come for more investments. Dong Nai will continue the administrative reform, remove the barriers, difficulties and facilitate the domestic enterprise more and at the same time, encourage any new provincial start-up.
 
According to the commitment between Provincial People’s Committee and Vietnam Chamber of Commerce and Industry (VCCI) to creating a convenient environment for enterprises, with the vision to 2020, Dong Nai shall have about 32,000 registered enterprises. In 2016, Dong Nai also made a plan to propagate the provincial start-up trend term 2016 – 2020 to attract financial support, and ideas in the society, so that new enterprises could be created with effectiveness and develop as targeted.
 
At the meeting to celebrate the Vietnamese Entrepreneurs Day held by Dong Nai Young Entrepreneur Association on Oct 6, Deputy Chairman of Provincial People’s Committee - Mr. Nguyen Quoc Hung stated that the local enterprises made huge contributions to the provincial general development. Dong Nai – a strong industrial developing province with high FDI – attracted tens of thousands of private enterprises to operate and create productive values and provide jobs.
 
Beside those positive results, according to leaders of Provincial People’s Committee, in the scheme of great integration, the provincial enterprises shall be active and dare to change to overcome difficulties and challenges in doing business. Especially, the industrial revolution 4.0 will have a great impact to the development of every enterprise in particular and the whole economy in general. “Dong Nai will do the best to facilitate, share and be along with the enterprises and entrepreneurs; continue the administrative reforms, bring trust, convenient business environment toward the enterprises. Dong Nai consider the development and success of the enterprises are also the province’s success” Said Mr Nguyen Quoc Hung
 
Connecting business with community
 
Beside their business operations, Dong Nai enterprises and entrepreneurs also have many contributions to the society by holding many charities. Highlighting the Dong Nai Young Entrepreneur Association with their “Disables support team”, they’ve given away interest free loans to 650 disables in the province. Many enterprises also create their charity funds to join hand with the authorities in supporting people’s lives. “In 2017, we established the New Future Fund to support the poor, the fund is expected to be up to 10 billion in the next 10 years”. Said Mr. Tran Van Cuong – Director of Thien Phat Dat Co. ltd (Tan Phu district)
 
Vuong The
 

 

 

 

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