Set up in 1994, after nearly 20 years of construction and development, STD & P Co., Ltd has become a leading supplier of industrial parts for oil, gas, steel, cement, railway, construction and other industries. Speaking of successes, Director Trieu Hong Phu said: "STD & P has been able to maintain stable and sustainable development till this day thanks to right orientations from initial days, strict discipline in financial management, professional salesmanship, and guaranteed credibility to partners and customers."
With a management constituted by engineers previously studying in Czechoslovakia and working for Western European companies, STD & P is now supplying industrial parts to more than 200 customers operating in important railway, paper, oil, gas and other industries. In spite of adverse impacts of economic crisis, STD & P, with its sharp vision and solid steps, continued to achieve impressive business results. It adjusted business operations and selected right customers to supply products. In addition, it actively promoted internal strengths to develop business activities without having to rely on exorbitant bank loans. For that reason, its sales growth expanded 30 - 50 percent a year. By only supplying high-quality, clearly originated materials made by world-acclaimed manufacturers like Timken, NSK, Gates, Eriks, OKs and Bega, STD & P has asserted its prestige to customers.
Remarking on elements of STD & P’s successes, Director Trieu Hong Phu said: A close management system and a modern corporate culture are vital to existence and sustainable development of any business. STD & P places great importance to human resource development. In the light of business philosophy “Personnel investment is the best investment,” the company has built a strong team of engineers and salespeople.
Continued market research
Czech Republic and Slovak Republic are the global powerhouses of engineering and industry. However, the two have not made any major success in the Vietnamese market. Although their products have high quality, they do not pay due attention to branding.
Mr Phu always harbours a fervent desire to study this market to introduce best products. Hence, on the visit to Czech Republic and Slovakia led by the Vietnam Chamber of Commerce and Industry (VCCI), STD & P will survey these fields in these markets like small generators (30MW) in Czech Republic, environmental and waste treatment technologies in Slovakia and seek out suitable products for the Vietnamese market.
He hoped that Vietnamese businesses will have closer looks and more specific studies about these markets. Success only comes when both parties work together to build salesmanship and build product trademarks. Then, products will make inroads in the target markets in a quickest and most sustainable manner.
Slovakian firms have huge potentials to do business in Vietnam and while Vietnamese companies also have opportunities in Slovakia. Therefore, Vietnam, Czech Republic and Slovakia need to strengthen friendly relationships, exchange information, and organise business matching events for interested companies.
Tran Trang
Vietnamese
