Malaysian businesses seek potential destination

Raymond Sia, General Director/CEO of Hong Leong Bank Vietnam Ltd.

Hong Leong Bank Berhad (HLB) is a well-capitalized Malaysian bank with approximately 300 branches, including a range of sales and business centers, in Malaysia. The HLB Group also has been present in China (via its 20-percent stake in the Bank of Chengdu), Cambodia, Hong Kong, and Singapore. It offers a comprehensive range of alternative and electronic banking channels including Hong Leong Connect, mobile and phone banking, call center services, as well as a wide network of self-service terminals.

In December 2008, HLB became the first Southeast Asian bank to be granted a license to incorporate and operate a 100 percent wholly-owned commercial bank in Vietnam. Hong Leong Bank Vietnam Ltd (HLBVN) currently operates three branches, which are located in Ho Chi Minh City, Hanoi, and Binh Duong, and one transaction office, that is located in Cho Lon, Ho Chi Minh City.

HLBVN views itself as a community bank focusing on both retail and corporate banking, and we continue to lever on our group’s digital capabilities to reach-out and serve the banking needs of communities in which we operate.

We are optimistic of the Vietnamese market which is backed by the country’s strong demographic profile and growing middle income class. The country’s proactive stance in attracting foreign investment and negotiating international trade agreements, such as the Trans-Pacific Partnership, will further strengthen its position as a key investment destination.

HLBVN is equally optimistic of the banking sector, in which it faces healthy competition from a variety of financial services providers. Therefore, to remain relevant and connected to our customers, we continue to invest in our people as well as in technology to help ensure delivery of a top-of-class banking experience. We are blessed to have a talented pool of employees; a large number of whom have been with us since inception.

HLBVN is committed to the Vietnam market and will continue to invest time and resources with a view towards long term business sustainability.

Agnes Chua Bee Leng, Vice General Director, United Sweethearts Garment (Vietnam) Co., Ltd.

Textile and apparel in Vietnam has seen fast and sustainable growth. The momentum is now at the top gear with the conclusion of Trans-Pacific Partnership and EU-Vietnam Free Trade Agreement. Vietnam has remained the leading supplier to most of the key markets such as the US, the EU, Japan and Canada.

We are optimistic about our business with local and central government support, customer choice and preference and our company core value “people are the only appreciating asset”, we focus on leadership engagement and employee empowerment. Since United Sweethearts Garment (Vietnam) Co., Ltd. was established in 2001, we have seen improvement in infrastructure, upstream and downstream supply chain, as well as government administrative policies and procedures.

With Malaysia and Vietnam both part of AEC and TPP, we see changes forthcoming in the sourcing & marketing landscape, changing from CMT (cut, make, trim) to OEM (Original Equipment Manufacturer) and ODM (Original Design manufacturer) with high value items. Easier links to the global supply chain will enhance Vietnam’s competitive edge in the region and help us further explore the global market.

As part of our growth plans to grow in Vietnam and better serve our current and new customers, we are now undergone the constructing of contemporary new factory with four stories of building and expect to complete by December 2016. Investment is at about US$10 million. After expansion, the total employee would increase to 3,500.

Sunny Lai, Marketing Director, Visiber Vietnam Co., Ltd.

Combining beauty with symbolic power, Malaysian firm Visiber makes luxury jewelry based on the Numbers Methodology. The company, founded by Dato’ Patrick Tan and Dato’ David Hew in 2003, has only been in Vietnam for more than a year, but sees the potential to make robust expansion plans.
Our collections are assembled and professionally finished by specialist craftsmen who are masters of their trade. We also undertake in-depth studies of the mystery of symbols to understand their meanings and harness their power for personal and group growth.

As a newcomer, we are still exploring the market. We are bringing our products here because we can see the impressive development that Vietnam has achieved. The market potential is high, because of Vietnam’s youthful population. The people are energetic, dynamic, hard-working, eager to learn, and motivated to change. This is really a huge opportunity for us. We see consumption demand rising along with Vietnamese income. Nowadays, Vietnam has a lot of shopping centers, retail outlets and trade centers carrying local and international brands.

We are aware of the opportunities and challenges here. We have to overcome the language barrier and understand our local customers better. However, we are ready to persuade Vietnamese customers. In the coming years, we want to position Vietnam as our base to expand to Hanoi as well as neighboring markets like Cambodia and Laos. We are hopeful for our bright future in Vietnam.

My Phung