Thai Thinh Co., Ltd: Overcoming Difficulties Leads to Maturity

Set up in 2001, Thai Thinh Co., Ltd is a member of the Hoa Binh Small and Medium Business Association in Hoa Binh province. Its main business is construction stone production. Overcoming many challenges, the company has to date confirmed its brand, attained a strong market foothold and won many prizes and titles.

Growing from a small co-operative, the company gradually accumulated experience, capital, equipment and personnel. Since its inception, Thai Thinh Co., Ltd has experienced many difficulties like unfavourable production environment and overtime working pressures. Mr Do Nhu Ninh, President and General Director of Thai Thinh, is always a pioneer in adopting new methods in business activities, although innovations encounter numerous difficulties at first.

 

Moreover, the company must have proper business strategies as it has to use industrial explosives to exploit construction materials, while its workers are from farming households and have limited access to training and education.

 

In addition, the instability of domestic and global economies caused considerable adverse impact. Particularly, the limited production scale of the company fails to meet the market demand in the province and neighbouring localities.

Facing such daunting problems, Thai Thinh Co., Ltd has invested more than VND8 billion in new production lines to increase its capacity 2.5 times.

 

Understanding the importance of branding, the company has focused on stabilising production in the midst of external effects like the global financial crisis and unfavourable weather. Additionally, the firm has helped its employees improve incomes, healthcare and working conditions. Simultaneously, it has outlined accurate, detailed production plans to meet all market demands.

 

The company regularly urges its employees to improve the productivity of every working hour and ensure the highest quality products for customers.

With its efforts, Thai Thinh has won the absolute trust of many production firms like Thanh An Company, Long Thanh Company and Duc Manh Company.

 

To date, Thai Thinh has two production workshops, three clerks, three managers and 75 workers, including four bachelors and 4 well-trained workers. The staff is always united and creative to form a strong collective.

 

The company’s products supply not only Hoa Binh province, but also neighbouring provinces.

Each year, the company spends a handsome sum of money for social development activities like building cultural houses and charitable houses.

 

Therefore, the company has been awarded many prizes like certificates of merit from the Hoa Binh People’s Committee in 2001, the Vietnam Co-operative Alliance in 2002, the General Department of Taxation in 2003, the Ministry of Finance in 2004 and the Prime Minister; the Third-class Labour Medal by the State President; and many others. Specifically, in 2009, the company won the Golden Cup for Outstanding Business.

 

Personally, Mr Do Nhu Ninh, General Director, was granted the “outperformer” title from 2001 to 2009, certificates of merits by the Prime Minister, the Vietnam Chamber of Commerce and Industry (VCCI) and the Hoa Binh People’s Committee. Especially, he won the Excellent Leader Gold Cup in 2009 and “High Age - Bright Mirror” Certificate in 2010.

 

At present, Thai Thinh is upgrading to new equipment that will be put into operation soon. Mr Do Nhu Ninh, 75, said: “The company is striving to ensure stable employment and income for its workers, continuing to coordinate with local authorities to ensure order and security at its production facilities. At the same time, the company expects to increase tax payment to the State coffers 5-10 % annually.