16:23 | 09/12/2018 Companies
(VEN) - Nguyen Duy Hung, Chairman of the Board of Directors of the PAN Group, spoke about corporate culture and branding in an interview with Vietnam Economic News’ Dinh Dung.
After seven years of investing in agriculture and food production, the PAN Group has expanded both its revenues and scale. What is the group’s secret?
The PAN Group is an investment company dealing in three main areas of agriculture, food and services.
The group has wholly owned subsidiaries and affiliated companies operating in the fields of agriculture and food, such as Vinaseed, Aquatex Ben Tre, Sao Ta, Bibica, and Lafooco, with nearly 11,000 employees.
All of our member companies operate effectively and lead their sectors. The PAN Group had three companies that entered Forbes Asia’s 200 Best Under A billion list.
Transparency is the core of the PAN Group’s culture. We are ready to resolve difficulties and share benefits.
The PAN Group’s target is transparency in development policies, showing commitment to integrity in all transactions, trade and production activities. The right employees will have better opportunities to develop, while the unsuitable ones will have to leave.
Every employee has the opportunity to work, train, develop a career, achieve success and improve personality. All success, even the smallest one, are recognized and rewarded. We provide opportunities for all employees to develop and build their careers at the PAN Group while contributing to society and the environment at the same time.
We also share the dream of upgrading Vietnamese agriculture and food production. We are committed to the prevention of environmental pollution and depletion of resources, and minimize negative impacts.
Transparency is the PAN Group’s corporate culture?
By my definition, corporate culture refers to the behavior of the company and its employees, while branding is the signature of the business as recognized by the public.
Corporate culture is the company’s daily conduct vis-a-vis its surroundings, while brand dictates the way the surroundings feels about the business.
PAN Group’s member companies are located throughout the country, with differences in culture and sectors. However, the group has one thing in common, which is transparency.
Brand is an important factor. What will the group do to promote branding?
In the past, businesses would prefer to strengthen production rather than promote branding. However, now they are focused on branding. Businesses with good brands will ensure sustainable development. I hope that the group will have its own brand.
For example, the Vietnamese are proud of VinGroup’s VinFast car brand, and pride is important to the consumption of goods and brand development.
Brand value depends on core values, and the PAN Group’s core values are the market potential, its enterprise platform, and human resources in the parent company and its subsidiaries and affiliated companies.
The group has many M&A projects in its development strategy. Recently, the PAN Group completed its private placement of a 10-percent stake in Japan’s Sojitz. What is the purpose of this cooperation? How does it relate to branding promotion?
We now have one more partner involved in direct administration. Together with Sojitz, we will realize the dream of promoting branding.
Sojitz does not act only for the Vietnamese dream or the interests of the PAN Group. It must be stated that they also act for their interests. However, the most important thing is that the interests of the PAN Group and Sojitz are not contradictory.
They do not invest much, but this is a serious relationship. In the past, many big investors wanted to cooperate with the PAN Group, but I did not agree because they have their brands and they will not be interested in building a general brand.
Sojitz is the sixth largest trading company in Japan with a global distribution network. However, few know about its brand and they will join us in promoting branding. This is an opportunity for the PAN Group in particular and Vietnam in general to easily access the global market.