Son Hung Trung: Corporate and Community Interests Harmonised

Speaking of what his company has done, Director Nguyen Huy Bay could not conceal his pride in the bold decisions he has made and the social and economic effects his company has contributed to the locality. Previously, he worked for a construction material production company where he was a deputy sales manager. With the desire to run his own business and prove more help to farmers, in 2001, he retired from the building material company and set up his own company. At first, his company mainly produced construction materials and sold TMT vehicles to farmers in remote areas to replace the simple, four-wheel trucks commonly operated in rural areas. Vietnam banned this vehicle for safety and environmental reasons. Understanding the capital difficulties farmers faced, his company provided capital and interest to help them purchase vehicles to serve their production and business activities. They only needed to provide a third of the vehicle value to own the vehicles, and the company warranted for them to borrow the rest from banks. Specifically, in 2010, the company guaranteed 70 percent of interest-free loans with a maturity of at least two years for farmers in remote areas.

 With its sound business direction, Son Hung Trung Private Enterprise rapidly gained the trust of customers near and far, and gradually heightened its position to expand its operations and step into new business spheres to undertake more projects in the province like civil, traffic, industrial and watering construction works.

With its growing prestige in the construction sector, Son Hung Trung Private Enterprise quickly asserted its name in manufacturing, mining, and construction material fields. The company’s brick factory has applied international ISO quality management system to its production activities, improving its quality and design to become top choice among even the most demanding customers. The factory employs 160 local workers and meets the construction material demand of building projects inside and outside the province.

Under the current difficult context, the company has rational spending and investment plans, balances its finances and strengthens staff unity. It always balances corporate interests and farmers’ rights, and considers this a core value for the sustainable development of Son Hung Trung. In 2002, the first year of operation, the company earned only VND3 billion but the value jumped to VND53 billion in the eight years since then.

The success of 10 years of development is a foundation for the company to further grow to become a prominent business in Son La province.