Fifteen years since its establishment, Nam Vang Joint Stock Company has continuously risen from a small business to a top-tier industrial steel producer and distributor in Vietnam.
In the first days of 2010, Vietnam Business Forum had the talk with Mr Le Nam Vang, Chairman and CEO of Nam Vang Joint Stock Company, to provide more information about the way to success of the company. On that way is paved by the strength of unity and determination of a team which is build on the nucleus of General Director Le Nam Vang - a dynamic, creative, enterprising business leader, on highly skilled and enthusiastic staffs, on investments in synchronous equipment and production lines to manufacture internationally recognised high-quality specialised steel products, and on many other factors. All these elements have helped “Nam Vang steel brand” to create a solid reputation in the Vietnamese steel industry and become a reliable companion of big Vietnamese and international companies.
Hallmarks on national key projects
The steel industry is heavily affected by the global economic crisis. However, Nam Vang Joint Stock Company withstood all challenges to boost sales to VND2,300 billion thanks to its good stockpile, popular reputation in the eyes of banks and international suppliers. That impressive figure not only helps the company achieve good profit but also, more importantly, ensures stable employment and income for hundreds of workers.
That success is attributed to the company’s knowledge of market development, production coefficients, and price trends. Thus, the company can introduce highly effective policies from time to time. Especially, Nam Vang has created a major difference in primary products from its peers, mainly focusing on steel for heavy industries and pre-engineered steelworks. Hence, the company has won the trust of big customers, suppliers, banks and distributors across the nation.
Mr Vang said: “Since my company was founded, I thoroughly understand that to be successful and to become a prestigious brand in the market, we must build on three main factors: Product quality - wholehearted service - clear payment”
At present, Nam Vang has already become the most reputed brand in the industrial steel industry. Its typical customers are leading companies in Vietnam like Infrastructure Development and Construction Corporation (Licogi) and Vietnam Shipbuilding Industry Corporation (Vinashin). Proudly, Nam Vang steel has been used in famous national key projects like Bai Chay bridge, Thanh Tri bridge, Phu Dong bridge, Vinh Tuy bridge, Nhat Tan bridge, Son La hydropower plant, Pha Lai thermal power plant and many other famous works.
In the light of its operating philosophy of “Live together - develop together”, Nam Vang Joint Stock Company has continuously expanded its scale by setting up many new units like Nam Vang Hai Phong Branch in Haiphong city, Nam Hong Steel Trading Centre in Thanh Tri district, Hanoi city and Ho Chi Minh City Branch in HCM City and electromechanical workshop in Hanoi.
Expanding market
In the coming time, although the aftermath of global financial crisis continues to drag on business activities and the presence of new big steel projects (joint ventures with South Korea, Taiwan, China, etc.) will create the fiercer competition on the domestic steel market, Nam Vang Joint Stock Company is completely confident to advance as it has invested in modern machinery and equipment to manufacture its own products, not only selling raw materials. At the same time, together with the continued strengthening of its prestige brand, the company is promoting to join hands with potential partners to expand operations into other areas such as construction material production (sand, stone, gravel, cement and bricks) and real estate construction and trading.
As regards international markets, Mr Vang said his company is now interested in markets in Laos and Cambodia as they are close to Vietnam, which will help the company trim transportation costs and where the requirements for product quality and selling prices are not too high and production capacity of peer companies in these markets have not developed. In addition, the two countries have rich natural resources and the company can cooperate with local companies to expand production.
To recognise the maturity and contribution of Nam Vang Joint Stock Company to the national economy, the Ministry of Industry and Trade rated Nam Vang as the “Top 100 Best Vietnam Companies in 2007”. Online newswire VietNamNet and Vietnam Credit Ratings Joint Stock Company ranked Nam Vang 35th in terms of assets and 149th in terms of profit on the “Top 500 Private Companies in Vietnam” list. Nam Vang honourably won the “Integrating and Developing Company” Award in 2008 and “Cultured Company - Unesco Vietnam 2009” title. Mr Le Nam Vang personally won the “Cultured Entrepreneur 2009” title.
D. Son – Ng. San
Vietnamese
