My modest success story

Mr Vo Van Ninh, Vietnamese American and President of Tri Viet Co., Ltd, is a successful investor in the culinary sector. The interview focuses on his investment.

As a member of the Trans-Vietnam market survey group in early 2005, how have you found the trip?

On this trip, we have discovered several investment opportunities in many localities such as tourist services in Nam Dan (Nghe An) and others. With the favourable policy of central government, the local authorities have encouraged our investment. There remain certain complicated formalities but I believe this will change.

As an early investor, what are your business successes and failures?

So far, I am somewhat successful in four restaurants in Ho Chi Minh city and two more in Vung Tau. There was of course some failures in the initial stage. For examples, in 1997, we had to close down four enterprises and workers received only 50 per cent of their salary. Some left and some remain until we overcame the difficulties. As the economy is improving in Vietnam and the region, more tourists are coming to Vietnam and the living conditions of the people are better, we have more clients and the turnover increases 10 per cent a year.

Not many overseas Vietnamese are successful in business, what has been your experience?   

My friends and myself have had some experiences. Those who failed did not take the business seriously. They were hesitant and uncertain in long-term investment. To be successful, you must understand the conditions of the Vietnamese economy and make the right decision. Those without knowledge or expertise and who invested in the wrong place have all ended in failure. The stability and emerging economy of Vietnam offers new opportunities for knowledgeable and potential investors. After the failure of the early years, I now pursue and often advise my colleagues to make every small step, learn hard and work hard.  Finally, I have had a modest success story.

What do you like best about Vietnam?

I like the people best, their sentiments and hard work. I feel really happy in Vietnam. It seems that I have found at last something sacred and extraordinarily charming.

• Reported by Cong Ly - Le Phuong