For years, Thailand-originated products in general and its consumer goods in particular have been increasingly favoured in Vietnam because of their eye-catching designs, variety and good quality, as well as price competitiveness and safeness to human health and environment. On the occasion of the 40th founding anniversary of Vietnam - Thailand diplomatic relations, Vietnam Business Forum Magazine interviewed Mr Le Phu Toan, President of the Board of Directors of Vietnam THT Import Export Trading Investment Joint Stock Company, an entrepreneur having obtained a lot of successes in business cooperation with Thai partners in the past years. Le Sang reports.
Could you please tell us about THT Vietnam’s cooperation with Thailand partners?
The business cooperation between THT Vietnam and Thai partners is built on a single core value, that is Win - Win spirit, based on strengths of each other to co-survive, develop and ensure long-term benefits. They have production strengths powered by modern technological lines and they can thus turn out products of high quality and nice designs at a competitive price for consumers.
They also have business expansion strategies to potential markets like Vietnam. Corresponding to their requirements, THT Vietnam has distribution channels, knowledge of consumer cultures and practices, and effective strategies for distribution network development.
In business cooperation strategies, we always place prestige at the forefront. When the trust is guaranteed, both sides will be willing to support each other for joint development, ensure the specialisation of every stage to minimise costs from production to circulation and distribution of goods, thus raising the efficiency from production to business.
THT Vietnam’s cooperation with Thai partners also experienced rough periods and challenges but right strategies plus determinations from both sides enabled us to have strong growth results and double annual revenue growth. Currently, our products have been sold by more than 20,000 dealers and retailers as well as most supermarkets and convenience stores nationwide.
How important are Thai partners to THT Vietnam’s development strategies? What is the key to further promote such cooperation?
Our cooperation is developing very finely. Our upcoming target is strong revenue growth. To do this, we will establish joint ventures to bring technological lines to manufacture our products in Vietnam. This will bring down costs, raise business efficiency for both sides, create jobs for Vietnamese workers and contribute to the growth of localities where our factories are located.
The key to boosting trade relations between the two countries is, I think, a clear long-term macro-level strategy, a stable business-friendly policy system, and an appropriate focus on areas where we have competitive advantages over other countries in the region.
What major solutions will we need to realise the Prime Minister’s message “Vietnamese businesses, driving force of national economic development”?
In my opinion, at the macro level, State policies must actually create all favourable conditions for businesses to survive and develop. Public officials and civil servants must change their thinking of their works from administration to service because businesses are the lifeblood of the economy and the measure of a nation’s prosperity. State officials must be the support backend for businesses because they are the soldiers on the economic front. The reliable rear will assure the victory in the new frontline.
Policymakers should really want to remove constraints against businesses and create favourable conditions for them to develop. Only then will our nation be able to catch up with the development of other countries in the region.
Vietnamese
