With synchronised steps and plans in its business strategy, Foreign Trade Development and Investment Corporation of Ho Chi Minh City (FIDECO) is proud to become a strong and prestigious brand name on the market powered by its orientation towards a powerful conglomerate. At present, FIDECO is making significant breakthroughs on the way to reach its goals.
Success from internal forces
Founded in 1989, after more than 22 years of construction and development, FIDECO is now known as a trusted and prestigious address for demanding customers and investors. The robust change came after FIDECO transformed into a joint stock company in 1993. General Director Tran Bao Toan said: "Correctly capturing market trends and economic development orientations plays a vital role in translating development strategies of a company. FIDECO always proactively snatches up every opportunity to realise preset targets.
With its sound development strategies, FIDECO has grown up from a small business entity into a powerful multi-business corporation. During early years, FIDECO mainly engaged in aquaculture and seafood export. Today, the firm has expanded its business operations to various fields, including finance, real estate, insurance, corporate governance consultancy, ISO consulting. During its history, FIDECO has taken many enterprising but successful plans. The company knows where to put its money in to take the margin, particularly profitable fields.
With its sound development strategies, FIDECO has grown up from a small business entity into a powerful multi-business corporation. During early years, FIDECO mainly engaged in aquaculture and seafood export. Today, the firm has expanded its business operations to various fields, including finance, real estate, insurance, corporate governance consultancy, ISO consulting. During its history, FIDECO has taken many enterprising but successful plans. The company knows where to put its money in to take the margin, particularly profitable fields.
Remarkably, FIDECO now has dozens of ongoing and completed real estate projects. FIDECO is now the owner of prime-located FIDECO TOWER at 81-85 Ham Nghi Street, District 1 - an ideal office space for rent at the heart of Vietnam’s largest financial centre of Ho Chi Minh City. The corporation still decided to build FIDECO TOWER although the real estate market was slumping then. Completed in May 2008, FIDECO TOWER has been leased out at very good prices. The building presently brings in US$4.2 million of revenues and US$3.2 million of net profit a year.
Besides, the company has also kicked off other property projects in Ho Chi Minh City, Binh Duong and other localities to snatch up opportunities when the economy rebounds next year. With innovative and effective methods, FIDECO’s business results are better and better year after year. The corporation’s value is estimated to increase more than 4,600 times at its inception to VND1,650 billion now. Thus far, apart from the headquarters at 28 Phung Khac Khoan, District 1, HCM City, FIDECO also founded or invested in 12 companies operating in southern Vietnam.
Mr Toan affirmed that "The key to FIDECO’s today success is human factor. Individual wisdom and dynamism have crystallized into collective strengths, which are translated into safe and sound investment decisions and development strategies to bring FIDECO to the peak of success.”
Japan - demanding but potential partner
While talking about FIDECO’s efforts to overcome difficulties and build up its brand name on the market, Mr Toan shared with us his experience in doing business with Japanese partners. In his experience, Japan is a very demanding but faithful partner. Japanese people work methodologically and treasure credit in all works. Japanese companies are very careful; thus, it usually takes time to persuade them to become business partners. Once they trust, the work with them is very simple. That's why Vietnamese businesses must be persistent and have long-term vision if they want to do business with Japan.
Mr Toan stressed: "Japan can be compared to a hard-to-please girl but when you win her heart, she will be very faithful to you. Although Japanese partners seek perfection in all works, they are very easy to be pleased if you know the way. Therefore, Vietnamese businesses must be careful enough at communication and transaction with them. Once they are dissatisfied, they will turn away and will never turn back. With its knowledge of Japanese, FIDECO has won the absolute trust of Japanese customers. We will continue promoting this achievement in the coming years, thus helping deepen Vietnam - Japan traditional friendship relations.”
Song Thanh – Thuy Mi
Vietnamese
