Tien Giang Lottery: Endeavors for State and Individual Prosperity

Beyond the ambit of expanding the agent network and diversifying product offerings, Tien Giang Lottery Co., Ltd has undertaken a resolute journey into digital transformation, the application of information technology, and digitalization in business management. This approach ensures that the company attains, or even surpasses its targets, aligning with the overarching objective of delivering benefits to the State, bestowing prosperity upon winners, and making contributions to local economic development and social security.

Tien Giang Lottery Company's commitment to charity and social activities stands as a testament to its dedication to the well-being of the community 

Continual market expansion

Established in 1979 as the Tien Giang Lottery Board, Tien Giang Lottery Company Limited has undergone a remarkable evolution. Commencing with a modest fund of approximately VND20 million, the company, in its nearly 45 years of sustained growth, has a working capital and asset value soaring to VND870.5 billion. This ascent is attributed to expansive business operations, heightened competitiveness, and an expanded market share.

Mr. Nguyen Minh Hieu, Chairman of Tien Giang Lottery, underscored the role of the agent system, saying, "Recognizing the agent system as an expansive bridge between the company and its clientele, Tien Giang Lottery has invested significant efforts in the development of a professional agent network in recent years." Presently, the company's agent network reaches out to key markets, particularly in densely populated and economically vibrant areas, catering to the escalating demand for lottery tickets.

Concurrently, the company monitors the market, evaluating performance in distinct areas and among designated staff to implement targeted enhancements for optimal business efficacy. Tien Giang Lottery consistently conducts surveys and research to innovate distribution methods, ticket designs, and reward structures, aligning with evolving player preferences.

A distinctive facet of Tien Giang Lottery's strategy lies in its adoption of information technology and digital transformation in business management and operations, significantly enhancing competitiveness. Leveraging the BRAVO software for comprehensive management, Electronic Office applications for document management, and information portals of central and local agencies for reporting business activities, the company has streamlined operations, reducing response times. Mobile applications have been seamlessly integrated, facilitating streamlined communication with agents, customers, and partners via smart mobile devices.

Notably, Tien Giang Lottery has become a stalwart contributor to the local economy, standing among the biggest taxpayers in Tien Giang province. The annual lottery business, constituting 10-20% of the local budget revenue, plays an important role in budgetary balance, key project investments, and the creation of jobs and stable incomes for the local workforce.

In the initial 10 months of 2023, the company reported a revenue of VND5,359.49 billion, equivalent to 88.34% of the set target, accompanied by a profit of VND684.97 billion (93.83%) and a tax contribution of VND1,600 billion (87.43%).

Commitment to social responsibility

Beyond its endeavors to elevate business activities, Tien Giang Lottery dedicates itself to the welfare of its employees, ensuring aspects such as salaries, income, social insurance, and health coverage are optimized. The company's management consistently facilitates and encourages employees to enhance their professional qualifications.

Guided by the principle of "bringing benefits to the State and bestowing fortunes on winners," Tien Giang Lottery remains steadfast in its commitment to a secure and ethical lottery business. Striking a delicate balance between social and economic benefits, the company aims to increase budgetary revenue to support the development of educational, medical, and social welfare projects.

Tien Giang Lottery actively engages in numerous charity and social activities, extending support to the underprivileged, disadvantaged, and street lottery ticket sellers. Since 2017, the company has allocated over VND95 billion for social security initiatives, including the construction of charitable houses (with a value of VND34 billion), provision of scholarships, school bags, notebooks, and learning tools for students, aid to lottery ticket sellers affected by the COVID-19 pandemic, contributions to the Vaccine Fund, and the provision of financial assistance and mobility aids for street lottery ticket sellers and impoverished individuals battling illnesses.

Chairman Hieu said, "To further enhance business performance and foster a healthy playing field for lottery players, Tien Giang Lottery is poised to adhere to its business plans. The company will actively formulate effective business strategies, restructure specialized units, and cultivate a robust workforce of capable and creative employees, ensuring the execution of its designated tasks."

In this pursuit, the company anticipates sustained high growth, revenue generation, and tax contributions, thereby fulfilling its role in job creation and collaboratively contributing to the transformation of Tien Giang into a more prosperous province.

By Ngoc Tung, Vietnam Business Forum