"Impresario" Hien - A typical Vietnamese businessman


Prior to the Prime Minister's Meeting with Enterprises in Hanoi today, December 23, Saigon Investment had an interview with Assoc. Prof. Dr. Tran Dinh Thien (pictured), former Director of Vietnam Economics Institute, a member of the Economic Advisory Team of the Prime Minister.

Mr. Do Quang Hien, a typical Vietnamese businessman.

Mr. Do Quang Hien, a typical Vietnamese businessman.

JOURNALIST: - The private sector is growing, thanks to the leading role of some large private groups. How do you view this?

Assoc. Prof. TRAN DINH THIEN: - Regarding the private economy, I have two ideas to share. Firstly, it was the private economy that saved Vietnam economy from the crisis in the 1980s. It was very important because it let Vietnam economy move into a new direction of development: market development. I often say the private sector is like the savior of an innovative economy.

Secondly, the private sector continues to show strength and is the driving force to promote the development of the country's economy. At this time, such recognition is significant because Vietnam is already an integrated economy and is internationally competitive. Therefore, we can affirm that Vietnam economic future will be linked to the growth of the private economy, with the guidance of large corporations, based on the support and orientation of the State.

- Recently, Chairman of T&T Group, Mr. Do Quang Hien, has been awarded the First-Class Labor Medal by the President. In your opinion, how valuable are the contributions of entrepreneurs like Mr. Do Quang Hien to the economy?

- First of all, congratulations to Mr. Do Quang Hien. His name is always associated with the enterprise platform and makes the concept of Vietnamese entrepreneurs become very authentic and very valuable to this country, which is the concept of nationality businesses. The most obvious thing is that Mr. Hien's dedication to Vietnamese football flourishes and begins to bring glory, which everyone associates him with the name "Bau Hien" (Impresario Hien). In addition, private enterprises are also contributing to the country's economy a lot in other fields too, so giving medals or noble titles to them is an extremely worthy thing.

It is also an honor for the private sector, which can help them have confidence in what they are doing and continue to contribute to society and the economy. The titles are inherently noble, but what businesses need is a free business environment, less bound, less repressed. I believe that every enterprise like Mr. Hien's business needs this. The government has recognized this and is starting to see enterprises as an important driving force, the foundation force for developing a market economy. The Government has also provided support to private enterprises, and the Prime Minister once said that the main force for the economy was private enterprises.

- Large businesses are compared to the "leading horses" among hundred of thousands of businesses today. But if we only care about the "leading horse", will we have sustainable development?

- I think that we should change our current thinking on development. We are usually pay intention only to the increase number of enterprises, not to the quality of them. Hence, there are many new enterprises, but also many bankrupt ones. We are currently only interested in launching new enterprises but not nurturing them, so we need to have a strategy to develop Vietnamese enterprise forces, not just increasing the number of enterprises. .

I believe that if there is a right policy to encourage enterprises, there will be large corporations playing the leading role, as a pillar for the country's economy. These pillars will gradually form a series of businesses, from which small businesses will have the basis to orient and follow what big businesses have been doing. Therefore, if you want to develop a strong private enterprise, you should invest and create conditions for the "leading horses". These "leading horses" will know how to create pressure and create opportunities to encourage horses in the herd to help each other.

- Take T&T Group as an example of a "leading horse". Currently this group is developing in the direction of multidisciplinary and multi-field. In your opinion, is this the right direction to develop an economic group model in Vietnam?

- T&T Group of Bau Hien is a typical nationality enterprise in Vietnam. Although it does not exaggerate its name like other businesses, but in terms of businesses of the nation, T&T is a very prominent enterprise. For Vietnamese people, T&T Group is associated with pride and makes a name for the football industry in the country, which is a very unique element of T&T. As for the corporation, T&T does not appear too noisy, but the implementation of Bau Hien does not go by snatching and short-term. As I have known, T&T has now implemented 7-8 new and successful businesses, not only in finance and real estate but also in industry, environment, agriculture and urban development, and especially in high technology and developing globalization. When I met Mr. Hien, I saw that his vision of globalization trend is very great, which shows that very few big corporations can do it like T&T.

- Thank you very much!

Translated by Francis

LAM ANH (Interviewer)

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