Over 20 years of development, Thai Son Corporation (Ministry of National Defense) continues to demonstrate the valour of soldiers on the economic front. On the occasion of the 67th anniversary of the founding of the Vietnam People’s Army (22.12.1944-2011), Vietnam Business Forum interviewed Colonel Phung Danh Tham, Chairman & CEO of Thai Son Corporation. Hoang Tham reports.
Thai Son Corporation is well-known for success in domestic and foreign markets, please tell us, Colonel, your business strategy and solutions?
Thai Son Corporation is a State-owned enterprise (Ministry of National Defence) with 25 member units (joint stock, joint venture, linkage and branches inside and outside Vietnam) operating in various industries and sectors (real estate, capital construction, import-export, application and transfer of technology) and those sectors are the driving force of the Corporation. In import-export alone, the Corporation maintains import-export value of US$50 million a year with the Russian Federation, China and SNG countries.
So far, Thai Son has implemented hundreds of waste treatment projects in industrial zones, hospitals and living quarters, built HCMC-Trung Luong highway, Can Tho road network, Duyen Hai thermal power station, and the border control road in Dak Blo (Kontum). Many projects have been awarded Gold Medals.
To ensure high business efficiency, the Corporation focuses investments in big projects such as Southern Army Exhibition and Trade Promotion Centre, Nha Be living quarter, apartment projects in Hanoi and Dong Nai, Mui Ne resort, and Tan Phuoc industrial zone. In particular, Rainbow Trade Centre in Ukraine is regarded as a biggest trade centre of Vietnamese residents in Europe, built in an area of 4.5 hectares with 8 buildings for wholesale and retail, offices, hotels, restaurants, recreation centres, storage and services. The Centre serves as a bridge to promote trade between Vietnamese and Ukraine partners importing and exporting products between the two countries.
Over 20 years of development, Thai Son Corporation continues to upgrade human resources and management, training and building capacity. So far, 98.6 percent of the management board members have attained university and higher degrees.
To ensure sustainable and long-term development, Thai Son Corporation and its member units have prepared a business development strategy until 2020 and 2025.
As an army company, how do you combine soldiers’ value with business culture, especially in the fast process of international economic integration?
Thai Son started with service and trade, and then later developed business strategy in line with the general trend, diversifying its business activities and gaining repeated success. In global economic crisis conditions, while many companies refrain from business activities, Thai Son expanded itself to become a corporation.
It is almost a paradox that Thai Son has developed in the most difficult time. Perhaps the valour of soldiers helped us advance forward. We developed our own brand “avant-garde soldiers”.
As avant-garde soldiers, Thai Son Corporation has overcome all difficulties and challenges, gaining in strength and position to contribute to the building and defence of the homeland, national security and socio-economic development.
How is the orientation in the coming years to develop business activities?
In face of the continued fluctuations of the world economy, Thai Son focuses on the following:
- To strictly implement the policy and guidance of the State, upgrading management and business activities of parent, sister and joint stock companies, learning from the example of Ho Chi Minh’s ethics and building a strong and healthy corporation.
- To expand business network by cooperation, joint venture, linkage in main sectors: application and transfer of technology, import-export of equipment for national defence, real estate, industrial zones, capital construction, building materials, coal mining and other minerals for local and foreign markets and at the same time stand ready for any tasks assigned by the Ministry of National Defence. The corporation will keep to the slogan “Quality, efficiency, safety and sustainability”.
- To develop existing potential in skilled workforce and management, increasing investment in technology and modern equipment, developing efficient labour policy combining harmoniously the interests of the workers and corporation.
The road ahead is favourable but challenges and difficulties remain. Thai Son Corporation will make concerted effort to become a strong army company in 2015.
Vietnamese
