The Hau Giang Pharmaceutical trademark is widely known, but few people know the leader of Hau Giang Pharmaceutical Joint Stock Company is a woman, who followed the revolution since her teenage years. She is survivor of saviour of a company on the verge of bankruptcy. VIB Forum talked with Ms Pham Thi Viet Nga, General Director and Chairwoman of Hau Giang Pharmaceutical Joint Stock Company.
Would you mind telling us about the development pace and achievements of your company in recent years?
Hau Giang Pharmaceutical (DHG) is proud that it is an exemplary company in applying the equitisation policy. In 2004, DHG was a pioneer in Can Tho City to go public. Three years after turning from a state-run enterprise into a joint stock company, DHG had admirable breakthroughs. For example, revenues jumped from VND451 billion (US$28.18 million) in 2004, to VND554 billion (US$34.6 million) in 2005, and VND868 billion (US$54.25 million in 2006.
As of late 2006, DHG listed shares on the Ho Chi Minh City Securities Trading Centre (HSTC). The current market price is about VND275,000 a share. At this price, the P/E ratio is 25. DHG is now expanding its domestic market share with more than 20,000 sales agents and drugstores nationwide. In Can Tho City alone, the DGH network reaches all communes and villages. DHG drugs have been voted the “Vietnam High Quality Products” title 11 years in a row (1996 - 2007). At the same time, DHG obtained the GMP-WHO certificate from the Ministry of Health. The certificate affirms DHG’s international standard product quality, and is a passport for DHG to penetrate foreign markets.
However, DHG has also encountered numerous difficulties. The first and foremost is the mechanism. The State’s 51 per cent stake means the company is almost still under state management, triggering some difficulty in business operations. Many times, DHG wanted to carry out activities with higher effectiveness, but had to wait for information and decision from senior authorities; this affects the strategic policy of the company. The next difficulty is the sequence of the integration process. Once the domestic market is opened, influential foreign companies will exploit our market. As a highlight of the Vietnamese pharmacy industry, DHG is a target for both acquisition and cooperation. To cope with this, Vietnamese drug companies should join hands to keep market share and beat foreigner competitors.
What does the “Golden Rose” award mean to you? How did you try to manage DHG to obtain this award? What are your unforgettable memories?
The “Golden Rose” award recognised individual effort, achievement and contribution to national economic development. As a general director and chairwoman of a company with nearly 2,000 employees, I devoted my whole heart to leading the company and improving management level, to help DHG become a leading pharmaceutical company in Vietnam.
In general, the selection of “Golden Rose” award winners was successful. However, it would have been better if candidates’ experiences on the path to success were revealed for others to study. This would make the prize more valuable.
My personal unforgettable memory in business was when I went to expand into the northern and central markets. DHG was unknown there and encountered competitive challenges from local firms. Customers and consumers did not trust our products, and I nearly gave up the plan. However, with encouragement, determination and patience from our staff and with our premium product quality, we were eventually successful.
What do you think about Vietnamese businesspeople, especially businesswomen, and Vietnamese businesses now? What will Vietnamese businesspeople and businesses need to catch up with other companies when Vietnam becomes a full member of the WTO?
Vietnamese businesswomen now lack information and knowledge about the WTO, the work market and foreign rivals. Therefore, they usually encounter two business options: One is the venture full of risks and the other is the timidity with regrettable loss of opportunities. Therefore, businesswomen need to improve their level of knowledge, gaining information through study, to become successful.
Quang Dai –Hong Phuong
Vietnamese
