The top 100 products and services in 2018 selected by consumers were announced at a ceremony in Ho Chi Minh City on November 29.
The top 100 products and services in 2018 selected by consumers are honoured in HCM City on November 29 (Photo: VNA)
The selection programme, Tin & Dung (Trust & Consume) Vietnam 2018, was organised by the Thoi bao Kinh te Viet Nam (Vietnam Economic Times).
Firms with products and services that made the shortlist include Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV), HD Bank, Orient Commercial Joint Stock Bank (OCB), Maybank Kim Eng Securities, FPT, Vietjet, Saigon Alcohol Beer and Beverages Corp. (Sabeco), Hanoi Beer Alcohol and Beverage Joint Stock Corp. (Habeco), Nha Be Garment Corporation, The Reverie Saigon Hotel, and Khanh Hoa Salangane Nest Company.
Launched in January this year, the programme received 21,000 paper and 61,000 online votes, recommending more than 5,200 products and services altogether.
Those suggested belong to seven sectors, including finance, banking, and insurance; food and retail services; fashion and cosmetics; and technology and telecommunications.
Nguyen The Hao, Deputy Editor-in-Chief of the Vietnam Economic Times, said this year’s programme aims to highlight corporate morality. Amid the increasingly competitive consumer market, aside from product and service quality, businesses also need to make a difference by building their brand and product value with a sense of good for the community and towards sustainable development.
Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy, said that in the digital era, it is necessary to enhance consumers’ trust and change business models by selling what the market needs and creating markets to sell what enterprises have.
In the current market, it is not too difficult for consumers to choose quality products, but they want much more than the value those products give to them, he said, adding that businesses’ sustainability and profit growth are closely associated with their ethical practices.
The annual Tin & Dung Vietnam programme was first organised over a decade ago in 2006.
According Bao Xay Dung
In addition to being consistent and dedicated to the job, behind the success of the female leaders is a solid family and good health.
Be consistent with what you think is right
Mrs. Mai Kieu Lien, the General Director of Vinamilk, entered the dairy industry from the encouragement from her father with the aim to improve the malnutrition of the children.
From that encouragement, Mrs. Lien advised the women in particular and the business leaders in general not to let go of their will, to be consistent with what they think is right. “I think people who have the volition, knowledge and passion will succeed,” Mrs. Lien said at the Women’s
Summit 2018 event of Forbes Vietnam.
Regarding the secret of leadership, Mrs. Lien said that the leaders have to be honest, to make example, to prove the ability that they are able to lead the team, to help people to have a better life. For her, women in particular are more dominant than men in terms of listening and understanding, whatever they will decide, they will always listen to the opposite person, which they will accompany others based on that.
Be dedicated to your role
Mrs. Nguyen Bach Diep – the Chairman and CEO of FPT Retail said that if you have chosen a position, you must focus on doing there.
This female entrepreneur revealed that she was not too concerned when being called “the steel woman”. She shared that “I just believe in myself and whether I do something right or wrong, effective or not.”
Mrs. Diep is interested in the three core values of the company that she is leading, including commitment to customers; respect, honesty; and take responsibility. “In addition to these three values, the HR policy must be built on a transparent, non-emotional basis,” she said.
Family is the foundation for success
Mrs. Thai Van Linh, the Director of Strategy and Operation VinaCapital Fund Management, advises the women to set goals which are higher than what they can.
With that, she emphasized that her family, especially her husband, was the most important thing in her life and career. The spousal relationship was the most important partnership. The two people must be honest and open to each other, which was the way to be successful, she shared.
Create luck from your hard work
Mrs. Crystal Lam, the CEO of Vinawood, said that women must listen twice more than saying. According to her, in life, if we are lucky, we must make use of our hard work.
The three main factors that play a big role when you make decisions were the core values of the decision, whether that decision is for yourself or for society more; and finally, how to carry out that decision.
Do not give up on your goals when facing difficulties
Mrs. Tran Thi Thanh Dinh, the Deputy Chairman of Ericsson Vietnam, advised the businesswomen not to give up on their goals.
She said that at the beginning of her career, as a female engineer in a mostly-male environment, her professional skill was the most important factor for her to create her own value.
“We can delay but never let go. That is the secret to our success”, she said.
Train your health
“My life is not very healthy,” said Mrs. Nguyen Linh Chi, the Managing Director (Digital Media) of Havas Media Vietnam, talked about the time before taking up jogging.
“Running helps me improve myself a lot. I always tell my friends to listen to the body and have a healthy life”, she said.
Outstanding in the community of jogging in Vietnam, Mrs. Chi started running more than six years ago and was the first Vietnamese to complete a 100-km run in the UTMB system in Mont Blanc (Switzerland). Mrs. Linh Chi shared that 5 years before, she had been very susceptible to impatience. After taking running, she found her patience increase tremendously.
According to Vien Thong – VnExpress
In the first nine months of 2018, FPT Retail (FRT) reported that the revenue of a FPT Retail store per month is more than VND2,3 billion.
Up to now, this enterprise has 524 stores nationwide. The revenue at each store has contributed to the first-nine-month revenue of more than VND11 billion, up 20% compared to the same period last year.
30% was the growth of the profit after tax of FRT compared to the same period last year. EPS for the first nine months of 2018 reached 4,211. F-studio reached 15 stores in the first nine months. The revenue of this store chain contributed VND301 billion to FRT’s total revenue, up 25% compared to the same period in 2017.
By the end of August 2018, FRT had brought back two programs into operation which were F-Friends installment sales program and Subsidy program after a short period of inactiveness to improve the system. The revenue from these two programs, accumulated for the first 9 months of
2018, accounted for 4.5% and 4% of total revenue, respectively, which has achieved the sales target of 2018.
In the third quarter of 2018, FRT announced the establishment of a subsidiary – FPT Long Chau Pharmaceutical JSC with the charter capital of VND100 billion, of which FRT contributed 75%.
The average revenue of FPT Shop is VND2,34 billion/store per month.
FPT Digital Retail JSC (FPT Retail) has announced its business results in the first nine months of 2018.
Accordingly, the accumulated revenue of FPT Retail reached VND11,033 billion, up 20% compared to the same period last year. The online sale’s revenue grew 26%. The profit after tax reached VND227,4 billion, up 30%.
After 9 months, the chain of FPT Shop reached 524 stores. The average revenue reached VND2,34 billion/store per month.
By the end of September 2018, FPT Retail’s F-Studio chain has reached 15 stores. This store chain’s revenue contributed VND301 billion to the total revenue of the Company, up 25% compared to the same period.
After a period of inactiveness, the F-Friends installment sales program and the Subsidy program have resumed their operations since the end of August 2018. The revenue from these two programs, after 9 months, accounted for 4.5% and 4% of total revenue, respectively, which has achieved the sales target of 2018.
In the previous third quarter, FPT Retail has established a subsidiary, FPT Long Chau Pharmaceutical JSC, with the charter capital of VND100 billion, of which FPT Retail contributed 75%.
According to Ha My – Cafebiz
FPT Retail’s Female General – Mrs. Nguyen Bach Diep: If behind a successful man is a woman who silently sacrificed, then behind a successful woman is a team that silently sacrifices.
As the Company’s leader, Ms. Diep acknowledged that over the past six years, she has put priority in work rather than her family and that she “is not perfect” in a woman’s favor.
In the event Women’s Summit 2018 on 18 October, Mrs. Nguyen Banh Diep – the Chairman and CEO of FPT Retail – is one of the female leaders appearing on the stage of Forbes Vietnam.
Like other successful women, Mrs. Diep is calm and energetic. Mrs. Diep is a big contributor in FPT Retail’s six years of growth, from 17 stores initially into Vietnam’s second largest smartphones retailer. The great thing about successful women is that they always mention the “backstab” that sacrificed for that success.
Mrs. Diep shared that: “If behind a successful man is a woman who silently sacrificed, then behind a successful woman is a team that silently sacrifices such as children, family, even colleagues, there is not only one person”.
“I should have cared for my children more”
In 2012, FPT Retail, with the trademark of FPT Shop, officially had the license to establish a joint stock company with the initial number of stores of 17. Coming after in an intense retail market, FPT Shop, especially the Board of Directors of this brand and Mrs. Diep must stand in front of “terrible pressure”:
“I have engaged in FPT Retail for only 6 years. In such 6 years, from the beginning, there are many big retailers in front of me – Mobile World, Vien Thong A. They had already had many years ahead, while I am just at the beginning”.
“It’s like the period of a startup,” she recalled.
“It’s like it is impossible to fail. We had to survive to keep the jobs for thousands of employees”, said the Female General.
Facing these challenges, as the Company’s leader, Ms. Diep acknowledged that over the past six years, she has put priority in work rather than her family and that she “is not perfect” in a woman’s favor.
“In the past, in principle, every women must fulfill her family role first: Educating children, taking care of them, taking care of their parents, doing the housework,” she said. “Being a leader makes a person have to spend much more time at work so it is obviously that that person cannot
accomplish everything perfectly.”
Mrs. Nguyen Bach Diep recalled that sometimes there was an event in her children’s school where the children would receive an award, but she could not come to encourage them because she was on a business trip.
“Even though she did not feel anything, but I myself feel guilty”
“I should have done better and cared for them more,” she confided. FPT Retail’s Female General called it a sacrifice of her children for her.
“Even though they did not feel anything, but I myself feel guilty”, she said.
It seems that because of that sacrifice, Mrs. Diep tried to take advantage of any free time of the day for her family and children.
Every day, every morning, the leader of 6,000 employees at FPT Retail still prepared breakfast for her family. “When I go to work, I always make use my time in the car to talk to my children,” she said.
Working until 7pm, Mrs. Diep shared that she often “come home, have dinner and after that, work with her children on their homework”.
“Many times when they already go to bed, I check emails for work then I go to bed,” she shared.
_ If there is an extra hour of the day, what would you spend that hour on?
_ Definitely for my children! – Mrs. Nguyen Bach Diep responded immediately.
“When I hit the job, I am just like…I’m going into a trance”
To her children, she always care for them, but to her colleagues and subordinates, she admitted that she had kind of “nasty temperament”. “When I hit the job, I am just like…I’m going into a trance”, she said. She once revealed with Forbes Vietnam that she is a high-tempered and fierce
person in work.
“People who have followed me have to accept my nasty behavior, and they have to meet every strict requirements from me,” she said.
However, it was not the only thing that her colleagues had to “accept” about her.
She mentioned another sacrifice: “Colleagues share their goals and aims with me, and then, they have to take the time and sacrifice their families for that”.
Therefore, Mrs. Diep said that under the role of a leader, it is necessary to “ensure the interests of those people.” That is, we have to lead the Company in the way that the followers can receive something significant.”
Speaking to be done, according to Mrs. Diep, is also a way for a leader – despite male or female – can gain trust from subordinates.
Family is on one hand, work is on the other hand. People always asked the female leaders about the “balance”. Which side is more important? Mrs. Diep said that “it depends on the point of view and each period of time”. And in her opinion, she must “focus to do the best” and “do not complaint” about her choices.
She quoted a foreign politician: “He said that we are the ones who choose our position: I choose to be the Prime Minister, so every morning I come out of the house, I have to smile and encourage my employees, even though my whole family had been arguing last night. I am in this position and I am supposed to do that.”
“When you have already chosen, it means that the Company have chosen you and you have agreed to be in this position, so you have to do your best there. If you are not interested in it, then leave. However, if you have chosen, then focus on doing your best, only then can you develop and grow”, she said.
According to Thao Thao – Cafebiz
“The husband is a full-time career supporter, and without him, I would not have sat here,” Mrs. Linh said.
After a successful man is the silhouette of a woman, so who is after a successful woman?
That is a very interesting question for business women in Vietnam Forbes Women’s Summit which took place on the morning of 18 October 2018. Answering this question, Mrs. Thai Van Linh – the Director of Strategy & Operations of VinaCapital Investment Fund – said that she had been asked this question many times before. And according to this shark, she thought that after a successful woman is first the husband.
“The husband is a full-time career supporter, and without him, I would not have sat here“, she said. In her point of view, spouses are the most important co-operation in life. Because, in a spousal relationship, the two people are equal, and no one should sacrifice too much for the other, if one is sacrificing, he or she can raise their voice so they can understand each other.
Concerning the question that whether it is necessary for the women to ask the husband in every decision, she said: “Before doing anything, I always talk to my husband. I will share with him anything that needs consideration. I totally agree that a modern woman has her own life
decision, however, it does not mean that she is always independent in all steps, if so, she may miss some of her relationships.”
Concerning Mrs. Thai Van Linh, she is the only female judge of the Shark Tank with a lot of bold sharing in investment. She holds a Master of Business Administration Degree in finance from the US. After graduation, she has held many important positions in many multinational and
multi-disciplinary groups. Currently, she is the CEO of Rita Phil and the Director of Strategy & Operations of VinaCapital Investment Fund – a member of the VinaCapital Group, one of the largest asset management corporations in Vietnam, which has been registered and licensed to
manage the fund of domestics and foreign investors.
Regarding the success, Ms. Linh also sent the message to the young people that they should bid to succeed but they must have the foundation first, what is waiting ahead is not the luck but the preparation. The opportunities must be turned into good luck for us, said Shark Linh to every young people, especially women.
In addition to the perspective of who is behind a successful woman, Ms. Nguyen Bach Diep – the CEO of FPR Retail shared her opinion: “After a successful woman is not only her husband, but a group of people that have sacrificed, not only a single person“, and the group may include children, family, etc.
Ms. Diep was born in 1972, graduated from Ho Chi Minh City Open University in Business Administration. She has held many key positions in many corporations such as the Director of FIS 13 – FPT Information System Company, the Deputy General Director of FPT Mobile, the Director of FPT Telecom Southern, and the General Director of FPT Retail. She is the leader
guiding FPT Retail from the very first days to have a high reputation like today. As the only female general in the retail industry and for all of her dedication for the past time, everyone referred to her by the name of “Steel Woman” with all of their affection and respect.
“I do not know who called and why I am called the “Steel Woman”, I cannot say exactly whether it is positive or negative“, she said at the conference. Regarding the prejudice that successful women are very formidable, are consider the steel women, unlike the fact that successful men are considered strong and decisive, Mrs. Diep frankly share that such prejudice could be understood in any way because she did not pay much attention to that, “I believe in myself” Ms. Diep said, “Whether what we do is right or wrong, whether it is effective or not is more worthy of consideration than what others are thinking about us“.
In term of what are important to be successful, the first thing is the devotement, said the Female General of FPT Retail. As in the role of leadership, Mrs. Diep said that in order to manage the employees, she had to show them her sincerity. “I admit that many times I am very strict and
harsh with the employees, but on the other hand, I must try to ensure the rights and benefits of those who have followed me, and that is the secret to have long-term cooperation with them”.
According to Thao Anh – CafeF
After giving birth two days, CEO of FPT Retail revealed the “secret” to have a balanced life: Choosing husband in the same company, don’t be a boss at home!
“If you can, then choose the husband in the same company.” The husband will understand
immediately the job the we are doing, so he can know and sympathize more, CEO of FPT Retail
shared the secret to have a balanced life of a woman of the highest position in the Company.
In the first discussion at the Women’s Summit 2018 held by Forbes Vietnam and HSBC’s CEO
Pham Hong Hai, Ms. Nguyen Bach Diep – CEO of FPT Retail revealed more information
concerning work and life.Hello, in FPT Retail, what are the cultural and personnel policies in empowering women?
_ Hello, in FPT Retail, what are the cultural and personnel policies in empowering women?
_ At FPT Retail, we have three core values: customer loyalty, team support and responsibility. In
addition, the nature of FPT Retail’s HR policy is to develop a transparent and non-sensitive
policy. This helps the Company to have the advantages to support and figure out any individual
who works effectively despite the gender.
FPT Group has an annual program called Valedictorian, in which many women have gained the
title. And the top employees will be selected into the group of Under 35, attending the high-level
strategic meetings. You will have the opportunity to discuss high-level strategy, to observe and
to experience in order to have a better view. It is a way for potential people to develop, including
I do not know where the “Steel Woman” came from
_ People often consider the woman who takes the initiate and is drastic at work to be
formidable, while men are considered strong and decisive. So how can you gain respect and
trust from everyone?
_ Actually, I realize that some people called me “Steel Woman” but I do not know where that word came from. I’m not sure whether it is positive or negative. Actually I believe in myself, regardless of whether it is a positive or negative comment.
As far as I know, a respectful leader is someone who is dedicated and sincere. Although they may be difficult at work, they have high demands for the employees but the most important thing is they are sincere.
I set goals and asked my employees to accept those requirements, so I must guarantee their rights and benefits. You have to do something to be worthy of their contributions. Therefore, they are likely to have long cooperation with you.
Here are the 3 tips to have a balanced life
_ I was told a story of a female who is the leader of Pepsico and has just resigned. And I also heard that after giving birth 2 days, Ms. Diep went back to work. In your opinion, can women succeed in both life and work?
_ The women who hold a certain high position are all workaholic. Whether it is possible to balance life and work depends on the point of view of each person and different period of time. Just stick a bit more with the one that makes you feel happier.
Personally I have 3 secrets to balance life:
First, if possible, then choose a husband in the same company. He will then understand us immediately and he may know and sympathize more.
Second, be a boss at the Company but never be a boss at home.
Third, if you do not have much time for your children, then make your children’s hobbies yours.
Do whatever your children want to do and do it enthusiastically. Everything will be much easier.
_ Do you have any advice for young people?
_ I am very impressed by the saying of the former British Prime Minister Tony Blair, the idea is that: each person chooses his position. He chose to be the Prime Minister. Every morning he enters the office, he has to smile, talk, and ensure his work, no matter what happened the previous night.
When you choose to do that job, you must do your best. Do not complain, otherwise you can’t develop yourseft.
According to The Tran – Cafebiz
After acquiring Long Chau, FPT Retail established its subsidiary, FPT Pharma, with the charter capital of VND100 billion
The Board of Directors of FPT Retail (HoSE: FRT) has announced the resolution concerning the establishment of its subsidiary, FPT Long Chau Pharmaceutical JSC, referred to as FPT Pharma.
Accordingly, FPT Retail will hold 75% of FPT Pharma;s capital, equivalent to VND75 billion. The legal representative of FPT Pharma is Mrs. Nguyen Bach Diep, Chairman of FPT Retail.
FPT Pharma has the charter capital of VND100 billion, the head quarter is located in District 3, Ho Chi Minh City. Its main business activities are retailing medicine and drugs, medical equipment, cosmetics and toiletries in specialized stores.
FPT Retail has acquired Long Chau pharmaceutical chain in January 2017. At the 2018 shareholders’ meeting, FPT Retail has revealed their plans to expand 30 new stores this year. From now to 2022, FPT Retail is aiming to open 100 more stores, controlling 30% of the pharmaceutical market in Vietnam.
Mrs. Nguyen Bach Diep, Chairman and General Director of FPT Retail, shared that the management experience in the field of retailing digital devices will help FPT Retail achieve its ambition.
In June 2017, another big retailer, Mobile World, announced their plans to enter the business of pharmacy distribution. In December 2017, Mobile World officially acquired Phuc An Khang pharmaceutical chain.
Pharmaceutical distribution is a “slice of bread” with the retailers. According to the market research firm Business Monitor International, pharmaceutical retail sales will increase from USD4,7 billion in 2017 to USD7,7 billion in 2021.
According to the information from the Ministry of Health, the country now has 57.000 pharmacies. However, Vietnamese pharmacies are fragmented, with many small enterprises run by families.
Drug spending per capita has increased 4 times, reaching USD40 in 10 years from 1995 to 2015. It is expected to reach USD55 by 2021.
There are high opportunities for the retailers in Vietnam to reach the pharmaceutical distribution market. In 2007, when Vietnam joined the World Trade Organization (WTO), Vietnam did not commit the terms and conditions concerning the pharmaceutical market.
In Vietnam, health-related fields are considered national security issues. At the present, the Vietnamese jurisdiction does not allow foreign-invested enterprises to operate in the field of pharmaceutical distribution and retail.
Foreign investors can only enter Vietnam’s pharmaceutical market by the form of joint ventures with local partners or wholly foreign-owned enterprises that import and sell drugs and medicine to more than 1,000 domestic distributors.
According to Hoang Lan – Vietnamfinance
Focusing on pharmaceutical industry, FPT Retail has had a strong capital contribution in establishing FPT Pharma
With the ambition of leading the pharmaceutical market in the coming time, FPT Retail – FPT Retail (Stock code: FRT) has announced the information on contributing capital in a subsidiary named FPT Long Chau Pharmaceutical JSC.
Accordingly, FPT Long Chau Pharmaceutical JSC (referred to as FPT Pharma) has the charter capital of VND100 billion, of which FPT Retail contributed VND75 billion, equivalent to 75% of the stake.
The head quarter of FPT Pharma is located at 379-381 Hai Ba Trung Street, Ward 8, District 3, Ho Chi Minh City, specializing in retailing drugs, medical instruments, cosmetics and toiletries in specialized stores.
FPT Retail also approved the appointment of Ms. Nguyen Bach Diep – Chairman of the Board of Directors, as the representative of all FPT Retail’s shares in FPT Pharma. At the same time, Mrs. Nguyen Bach Diep will be the legal representative of FPT Long Chau Pharmaceutical JSC.
Previously, as the mobile phone market was going to level off, FPT Retail decided to launch a new business strategy to ensure the company’s double growth rate by repurchasing Long Chau pharmaceutical chain at the end of 2017.
At that time, Long Chau had only 5 stores. However, only after nearly a year of developing the pharmacy chain management software, the software to take over the suppliers, etc., until now, FRT has expanded the chain of Long Chau pharmaceutical stores up to 16 stores
According to the plan, FRT is going to expand the pharmaceutical chain to 400 stores by 2022 and contribute 30-40% of the total revenue of the Company.
In addition, Long Chau pharmaceutical chain is expected to control 30% of the market share of pharmacy market of Vietnam in 2022.
The strategy of competitive price is mainly focused by FPT Retail. Specifically, the average price of the items in Long Chau chain is currently about 10-20% lower than those of hospital channels and the profit/total orders, compared to other stores such as Phano, An Khang, etc., is 50% higher.
Besides that, the difference between Long Chau pharmacies and others comes from prescriptions. It means that the amount of Long Chau’s drugs and medicine is 6-7 times higher than those of normal pharmacies and the price is about 20% cheaper (concerning the prescriptions of 500.000 – 1 million VND). In addition, 60% of Long Chau’s products come from western medicine, 40% from drugs and cosmetics, medical equipment and functional foods, which brings more profits than drugs. However, medicine is in constant need of growth, so it is possible to take advantage of the customers who buy medicine to sell medical equipment and functional foods.
According to Anh Phuong – VN Finance
The charter capital of subsidiary company is VND 100 billion of which FPT Retail hold 75% the contribution capital.
The recent resolution of the Board of directors of FPT Reatail (FRT) – code FRT has been approved the capital contribution of subsidiary companies with the ownership ratio up to 75%.
Accordingly, FPT Long Chau Pharmaceutical Joint Stock Company (FPT Pharma) was established with chartered capital of VND 100 billion, of which FPT Retail contributed 75%, equivalent to VND 75 billion.
FPT Retail also assigned Mrs. Nguyen Bach Diep, Chairman of the Board of Directors, to represent FPT Retail’s total capital at FPT Pharma. Mrs. Nguyen Bach Diep will also be the legal representative of FPT Pharma.
FPT Pharma specializes in retailing pharmaceuticals, medical devices, cosmetics and toiletries in specialized stores.
In early 2017, FPT Retail has entered the pharmaceutical field started by the acquisition of Long Chau drugstore chain. Thegioididong also has stepped into this sector in same year by acquiring the Phuc An Khang pharmaceutical chain.
FRT expects Long Chau to account for 30% of the market share, which is VND 10,000 billion and contributes 40% of FRT’s revenue. This requires Long Chau to succeed in expanding into many areas with the ambition to open 400 pharmacies by 2021.
The net profit margin of the pharmacies chain in the world is between 3% and 4%. By 2021, if this ratio can be reached, the Long Chau chain will reach about VND 2,100 to 3,100 billion in turnover and VND 60 to 90 billion in net profit, accounting for 25% -30% of revenue and about 10% of FRT’s profit proportion.
According Thanh Ha – Bizlive