Kinh Do: The First Private Economic Group

 

 

The National Assembly has recently approved amendments to legal documents facilitating business activities and economic development. However, our concern is the inconsistent application of policies by central and local authorities, hampering investment and business activities. The State should also improve the law on foreign indirect investment allowing local businesses to attract foreign investment and to register in the listing of foreign stock markets.

 

The shares are for the development of Kinh Do in the next 10 years. We will focus on three areas: food processing, real estate, finance and stock market. Kinh Do wishes to be Number 1 in Vietnam and South East Asia in confectionery, juice and refreshments. The purchase of Wall’s ice-cream in 2003 and recent investment in Tribeco are efforts to expand the food processing. With profit from the food processing, we will invest in real estate. Kinh Do now has five projects such as Hung Vuong Trade and Apartment Centre, Binh Duong villas, the Da Nang - Nha Trang hotel complex and some projects in Ho Chi Minh city. When Kinh Do economic group starts operating we will expand activities to stock markets. However, so far Vietnam only has the legal framework for economic groups of State-owned enterprises. We propose that the model will also apply to the private sector and Kinh Do will be the first private economic group in Vietnam.

 

In market economy, challenges and risks are always big problems for businesses. Without careful preparation, failure is inevitable. Kinh Do has applied such measures as:

 

Building a scientific mechanism, a united workforce, joint efforts and a perfect management system to reduce risks from inside.

 

Understanding the legal framework, the market, socio-economic conditions at home and abroad to reduce risks from outside, for instance the bird flu has adversely affected the production and the company had to find some other resources.

 

The economic integration brings both opportunities and risks. Kinh Do will expand markets and joint ventures to combine strengths for mutual benefit.

 

Kinh Do has systematically developed its trademark at home and fast conquered the top position in conditions of fierce competition. With the vision as “products of the new-style life”, we continue to improve the product quality and maintain competitive prices. Kinh Do has a nation-wide network and will honour its trademark.