Typical business models by Viet Kieu
March 27, 2008
|Typical business models by Viet Kieu|
|17:24′ 25/03/2008 (GMT+7)|
VietNamNet Bridge – Overseas Vietnamese (Viet Kieu) have invested their brainpower and capital in projects in Vietnam. They currently invest in more than 2,000 projects totalling over US$1 billion. Through these projects, Viet Kieu not only contribute their brainpower, capital but also their hearts to the home country.
There are many bright examples of Viet Kieu who return home to do business and succeed. In this article, we would like to introduce four outstanding models of business.
1. Assisting local garment producers
A Vietnamese French couple, Tran Van Phu (Doctor of Economics) and Tran Moc Lan, returned to Vietnam in 1988. Seeing that many Vietnamese garment companies only process for foreign partners because they don’t have quality material, good designs and export markets, the couple decided to make a change.
They established a company named Scavi, and built two factories in the southern province of Dong Nai and the Central Highlands province of Lam Dong to produce lingerie to export to France and Europe. Scavi has also cooperated with many garment enterprises and helped them make garment products for direct export.
2. Composite model to protect forest
As a Vietnamese Australian who majored in construction, Tu Ngoc An returned to Vietnam in 1993 with an Australian expert in composites to invest in a plastics company in HCM City named Phong Phu. This company produced plastic products made of composites, which was a strange technology for Vietnam at that time.
Authorities of Kien Giang province invited An to come to Kien Giang to set up the Kien Giang Composite joint venture. From this firm, many composite products, especially plastic boats that are efficient for residents in the Mekong Delta, have been produced and helped reduce the use of timber.
3. Advertising service
J. Le Trinh, a Vietnamese American, returned to Vietnam in 1995 to seek business opportunities. At that time the advertising industry was in its infancy. Based on her relationships with foreign partners, Trinh established Baby Advertising Company. Within a short period of time, Baby had over 200 clients, including big names like Omega, Samsung, Longing, Konica.
Trinh’s secret of success is advertising foreign products through Vietnamese culture. Baby is an example for local advertising firms.
4. English teaching
Responding to former Prime Minister Vo Van Kiet’s idea about professional training of English, Hoang Ngoc Phan, a Vietnamese American who was involved in import-export and tourism business, opened an English teaching centre in cooperation with the Vietnamese American Association.
At present, the Vietnam-US Training Company has 16 branches nationwide and 20,000 students. The company also provides training courses on business administration, accounting, tourism computer sciences, etc. It is preparing to open vocational training services, using English.