Honoring and encouraging quality in business

Deputy Minister of Industry and Trade, Ho Thi Kim Thoa (second from the right), visits a manufacturing facility of the Viet-Tiep Lock Joint Stock Company

The Ministry of Industry and Trade (MoIT) presents the annual awards to encourage and honor businesses and entrepreneurs operating in 11 trade and service sectors that Vietnam committed to enhancing when joining the World Trade Organization (WTO) in 2007.

These include environmental services; distribution; financial services; construction; information; general business; travel; transport; healthcare-social services; education and cultural-entertainment services.

Some of the recipients are smaller local firms, while others have a strong presence in both the global and domestic market.

The Tien Phong Plastic Joint Stock Company is an example. The experienced manufacturer offers a wide range of products, such as PPR plastic pipes for use in water supply, wastewater drainage, construction, industry and agriculture.

Tran Ba Phuc, Chairman of the Board at the Tien Phong Plastic Joint Stock Company, told Vietnam Economic News that the company has equipped its manufacturing facilities with modern machinery and applied environmentally friendly technologies to create quality products. The company views product quality, not profit, as a top priority, an approach that has won it the trust of customers from Australia, New Zealand and Hong Kong (China), he said.

The company is currently cooperating with Japanese partners to manufacture products for projects funded by Japanese official development assistance (ODA) loans to Vietnam.

Another award recipient, Viet-Tiep Lock Joint Stock Company, has also captured foreign markets by selling quality products. According to Nguyen Manh Hung, head of its marketing department, the company has invested in technology and design to create attractive looking, high-quality goods. In an effort to make its products well-known overseas, the company has participated in trade promotion and brand building programs launched by the Ministry of Industry and Trade.

At the same time, it has built a marketing strategy and invested in human resource training and equipment modernization. Thanks to these efforts, the company’s products have become firmly positioned in the domestic market and have also been exported to some Southeast Asian countries, Cuba, Brazil, Angola and the United Arab Emirates, Hung said. Export earnings now account for five percent of the company’s revenues.

Some mechanical products of the Saigon Industry Corporation have been sold to foreign-invested companies in Vietnam. Its General Director Chu Tien Dung said the corporation focuses on human resource development, considering this a pivotal factor for enhancing global competitiveness. The corporation has also invested in modernizing technology and equipment to create higher quality products. At the same time, it has built an ISO 9000: 2015 quality management system to keep pace with international integration trends.

The awards ceremony coincided with the 10th anniversary of Vietnam’s official membership as the 150th member of the World Trade Organization (WTO). Vietnam’s trade and services have grown strongly since its accession to the WTO. The country’s export value increased from US$48.6 billion in 2007 to US$176.6 billion in 2016, up by almost 3.5 times.

The MoIT believes this result is largely attributed to the contribution of businesses winning the Vietnam Top Trade Services Award. For the recipients, the award is an encouragement to further invest in technology to create higher quality products.