Le Van Khanh: Bold, Responsible Businessman

4:01:35 PM | 9/10/2019

In the context of market volatility and fiercer competition, Mr. Le Van Khanh, Director of Soc Trang Lottery Co., Ltd has endeavored to develop what was a small, vulnerable company with poor facilities, thin workforce, narrow agent network and weak marketing into a powerful entity named among the Top 500 fastest-growing companies in Vietnam. The company is also among Top 1,000 largest income taxpayers in Vietnam and a top enterprise in Soc Trang province today.

“National interests - personal interests”

Soc Trang Lottery Company was established on April 29, 1992 under Decision 47/QD.UBT.92 of the Chairman of Soc Trang Provincial People's Committee. The company was transformed into Soc Trang Lottery One-member Co., Ltd on January 1, 2010 under Decision 556/QDTC-CTUBND dated December 17, 2009 by the Chairman of Soc Trang Provincial People’s Committee. At the beginning, its business operations faced a lot of hardships. In addition, economic fluctuations, natural disasters, complicated epidemics, stiff competition, and particularly the emergence of new lottery types and games, caused significant impacts on its business performance.

With ongoing efforts of all the staff, the active support of the Provincial Party Committee, the Provincial People’s Council, the Provincial People’s Committee and provincial agencies, and particularly the dynamic, creative and sensitive leadership of Director Le Van Khanh, who has adopted effective solutions on business performance and agency network, the company’s market has steadily expanded. State capital has been maintained and increased. The life of employees has been improved. Specifically, the company’s revenue reached VND2,523 billion in 2017 (6.65% higher than the full-year plan and 9.12% higher than that in 2016), VND3,063 billion in 2018 (16.56% higher than the plan and 21.4% higher than in 2017) and VND1,840 billion in the first six months of 2019 (equal to 54.62% of the full-year plan and 20.09% higher than the same period of 2018). The profit amounted at VND299 billion in 2017 (6.63% higher than the plan and 6.72% higher than in 2016), VND350 billion in 2018 (16.72% higher than the plan and 16.86% higher than in 2017), and VND297 billion in the first six months of 2019 (fulfilling 79.62% of the yearly plan and rising 10% from a year earlier. Its tax payment valued VND805 billion in 2017 (108.88% of the plan), VND930 billion in 2018 (115.12% of the plan), and VND746 billion in the first six months of 2019 (78.52% of the plan and 28% higher than a year ago). From lottery revenue, Soc Trang province has invested in building social welfare works to improve livelihoods, education and medical service demands of local people. In 2017, its investment totaled VND740 billion, including VND234 billion for education, VND463 billion for medical service, VND11 billion for social and cultural activities and VND32 billion for other welfare projects. In 2018, the investment totaled VND826 billion, including VND332 billion for education, VND419 billion for medical service, VND45 billion for social and cultural activities and VND30 billion for other welfare projects. In addition, the firm funded charitable house construction and supported policy-beneficiary people, with VND15.2 billion in 2017 and VND15 billion in 2018.

In three years (2016-2018), the company paid over VND2,900 billion to the provincial budget to invest in public works, education development, healthcare, social culture in the province. The company donated more than VND50 billion for study promotion funds, trade unions, charity house construction, student scholarships, and victims of natural disasters.

Leader fortitude

Running Soc Trang Lottery Co., Ltd since 1995, Mr. Le Van Khanh has always shown his dynamism, creativity, boldness and responsibility and his responsiveness to business opportunities. These are prerequisite factors behind the success of the company.

Amidst fierce competition in the lottery market, Mr. Le Van Khanh has requested relevant departments to keep an open eye on market developments and introduced appropriate solutions to meet requirements of each market and each agent for a certain period of time. He has also adopted solutions to build and implement close and effective relationships with partners, commercial banks and lottery agents; timely and reasonably responded to inquiries raised by agents to develop and sell more Soc Trang lottery tickets. As a result, in recent years, its agents have well developed business operations, improved their management capacity and well complied with State and Company's regulations.

He particularly pays attention to reorganizing and perfecting working stages and processes of developing lottery business under the law. Lucky drawing is guaranteed objectivity, honesty, publicity and transparency. He especially focuses on improving business administration and corporate governance; strengthening and encouraging responsiveness, creativity, flexibility and acumen to find ideas and turn them into business opportunities. At the same time, the company creates favorable conditions for its employees to work their best for the company. The firm regularly cares about educating its employees; upholds their sense of responsibility and working capacity to devotedly serve agents and customers, constantly enhance the company reputation to agents and customers.

He also sees to annual training plans to improve professional qualifications and working capabilities of employees to meet the company’s requirements in the new situation.

Achievements in 2016-2018:
Soc Trang Lottery Co., Ltd
- 2016: First-class Labor Order, Excellent Emulation Flag from the Soc Trang People's Committee, Certificate of Merits from the Ministry of Finance, and the Company of Mekong Delta.
- 2017: Excellent Emulation Flag from the Soc Trang Provincial People’s Committee, Certificate of Merit from the Ministry of Finance, “the Company of Mekong Delta” title.
- 2018: Certificate of Merit from the Ministry of Finance, “the Company of Mekong Delta” title.
Mr. Le Van Khanh:
- 2016: Grassroots Emulation Soldier; Certificate of Merit from the Ministry of Finance; Certificate of Merit from the Vietnam Chamber of Commerce and Industry
- 2017: Grassroots Emulation Soldier; Certificate of Merit from the Soc Trang Provincial People’s Committee, Certificate of Merit from the Vietnam Chamber of Commerce and Industry
- 2018: Grassroots Emulation Soldier; Certificate of Merit from the Ministry of Finance, Certificate of Merit from the Vietnam Chamber of Commerce and Industry

For nearly 25 years as a director, Mr. Khanh has always abided by State and Party policies and laws as well as the company’s internal regulations. He is a reputable influencer of the company, a symbol of solidarity in the Executive Board, and a good example for employees to follow. With his effective business management and active participation in social charity activities, he is also a prestigious figure in the business community in Soc Trang province. As Vice Chairman of the Soc Trang Business Association, he has significantly contributed to improving the local business investment climate and boost socioeconomic development.

To uphold its achievements, Soc Trang Lottery Co., Ltd will continue to seek appropriate investment, Mr. Khanh said. The company will continue to promote development, constantly improve competitiveness and business performance; strengthen market research, maintain traditional markets, increase market share, expand new markets; closely monitor and timely market developments, lottery agents and performance of new lottery types and other prize-winning games to have appropriate business solutions and strategies. To meet integration and development requirements amidst the Fourth Industrial Revolution, Director Khanh has actively developed human resource management applications and accounting software, enhanced connectivity between the company with its agents via the internet and websites to boost the company’s business performance.

With that foundation and strategy, plus the dynamism, creativity, courage, enterprise and responsibility of Director Le Van Khanh, Soc Trang Lottery Co., Ltd will surely develop further in the coming time, thus playing a part in local social and economic construction and development of the province in particular and of the country in general.

Quoc Hung