Thanh Cong Group: The Journey to New Highs

9:45:25 AM | 8/31/2021

After more than 20 years of continuous development, Thanh Cong Group has amassed powerful resources to overcome challenges and uncertainties to build its position in the automobile industry and Vietnam's socioeconomic development in general.

Affirming stature with important imprints

Aiming to become a leader in Vietnamese high-class automobile manufacturing and to meet increasingly diverse demand in the country, in 1999, Thanh Cong Group, formerly known as Thanh Cong Mechanical Engineering Co., Ltd, was officially established, marking the start of the automobile importing and assembling industry in Vietnam. In 2004, the company built an automobile assembly plant in Dong Anh district (Hanoi) to make Thanh Cong-branded trucks and became an official dealer of DongFeng trucks in Vietnam. By 2007, Thanh Cong's dealer network had spread across the country with 30 dealers - a rare growth rate in the Vietnamese auto industry at that time.

The momentous milestone was made in 2008 when Thanh Cong became an official partner of Hyundai heavy trucks and was officially renamed to Thanh Cong Group Joint Stock Company. In 2009, the group was an exclusive distributor of Hyundai passenger cars in Vietnam. The scale and stature of Thanh Cong was really expanded when its automobile manufacturing and assembly factory in Gian Khau Industrial Park, Ninh Binh province, came into operation in 2011. In 2014, on the occasion of its 15th founding anniversary, Thanh Cong was decorated with the Third-class Labor Order in recognition of its contributions to the automobile industry.

In 2016, Thanh Cong started building the most modern bus and passenger car plant in Southeast Asia and constructed a research and development (R&D) center in Ninh Binh province. On the journey to lift its position, in 2019, Thanh Cong Group continued to invest in expanding production and business, with focus on key project projects.

After more than 20 years of construction and development, Thanh Cong Group has become one of leading industrial and commercial investment groups in Vietnam with thousands of employees in 20 member companies. The firm ranked No. 11 on the Top 500 largest private enterprises in Vietnam.

Reaching "new stature, new strength"

The strongest impression and affirmation of its values in the market lies in the automotive industry. Its achievements and values in this field are the solid foundation and stepping-stone for the group to grow stronger to reach new highs and status in the future. With the mission of bringing better values, Thanh Cong Group has launched a lot of projects across the country. Royal Hotel and Golf Course Complex in Ninh Binh is a 54-hole golf course of international standard coupled with hotels and luxury villas. 5-star SHILLA Monogram Hotel Quang Nam, a complex of luxury villas, hotels and resorts, is not only an ideal leisure destination but also offers sustainable investment opportunities.

Furthermore, the group has many other outstanding projects underway, including Thanh Cong Hotel and Service Complex (Ho Chi Minh City) and The FIVE Riverside Residences (Dong Anh, Hanoi) that provide modern service experiences and stupendous utilities. The group also invested in transport infrastructure with the North-South highways, industrial zone infrastructure and expanded its auto parts manufacturing complex in Quang Ninh.

In its development plan, Thanh Cong Group’s goal is promoting commercial service development, with main products being elevators and construction equipment. Its elevators are appearing more and more in high-rise buildings and luxury buildings.

Among its business fields, banking and finance is the latest piece of Thanh Cong Group. The firm is a majority shareholder of Eximbank and is researching and joining the financial sector to better serve customers and partners. This proves and affirms its strategic vision in the market as well as being a perfect piece to build a solid brand name of a conglomerate. Mr. Nguyen Anh Tuan, Chairman of the Board of Directors, said, “Finance is the lifeblood of the economy, the most important factor of every business project. We always pay special attention to the financial sector, empowering the group, its partners and customers with a strong financial system and ensuring smooth implementation of all business projects."

Secret to success

With a strategic vision of leading the domestic and foreign automobile market, in 2020, Thanh Cong Group managed to lift its position in the automobile market in Vietnam. It sold 81,368 vehicles, accounting for 22.5% of the market, outstripping its major competitors, Toyota and Thaco. The firm paid VND14,946 billion to the State Budget, of which VND14,200 billion was paid to Ninh Binh province. According to the Vietnam Chamber of Commerce and Industry (VCCI), Thanh Cong Group and Hyundai Thanh Cong ranked 11th and 12th in the list of the 500 largest private enterprises in Vietnam.

Mr. Nguyen Anh Tuan, Chairman of the Group's Board of Directors, said that Thanh Cong Group’s investment in a car manufacturing and assembly plant in Ninh Binh is a major milestone that asserts its industry leadership in Vietnam. The facility features a closed production process powered by the most modern automatic robot system imported from advanced countries in the world to gradually raise the localization rate for the Vietnamese automobile manufacturing industry.

Upgraded projects will increase the output capacity of passenger cars from 40,000 vehicles to 80,000 vehicles a year. The area for Thanh Cong Automotive Infrastructure and Service Center will be expanded from 4 ha to 35 ha. Covering 50 ha of land, the passenger car manufacturing project with an annual output of 100,000 vehicles, was approved by Ninh Binh province. When these projects are completed, Thanh Cong's passenger car output capacity will be lifted to 180,000 units a year, 2.5 times more than the current level. The vehicles are expected for export to countries in the region.

The strong and steady growth into a conglomerate results from unremitting efforts of all employees, from the leadership to the rank and file. In its history, the core value that Thanh Cong always strives for is “People and product quality make our brand today”. The process of creating a green, user-friendly, eco-friendly product is built on a modern advanced machinery system operated and monitored by leading national and international experts.

To bring our products to customers in the easiest and most convenient way, apart from building factories and perfecting production processes, the group also invested and developed a complete and modern logistics system. Along with that is a modern authorized dealer network nationwide, with dynamic employees who understand the core corporate values in order to introduce and bring perfect products to customers.

The branding path of Thanh Cong Group is not only marked by unique values and enterprising leadership but also boldly imprinted with the quintessence of Vietnamese wisdom. This is also a testament to its internal strength, an affirmation of the position of Vietnamese enterprises in the international arena, especially during this tough time due to heavy impacts of the COVID-19 epidemic. Thanh Cong Group will certainly continue to leave more imprints, climb to new highs and bring added value to society in the upcoming time.

Source: Vietnam Business Foru