Singapore TV makes report on Vietnamese family business's billion-dollar ambition

Recently, Singaporean television channel Channel News Asia (CNA) launched the program The Successors S5. What is special is that in the third episode, CNA made a report about one of the largest beverage corporations in Vietnam.

Channel News Asia is an English-language news channel broadcast on Singapore's cable television system. CNA also has a fairly reputable online news site in the lion island, considered one of the best news agencies in the country.

The Successors is a documentary series about the next generation of family businesses and how these heirs continue the success of their ancestors. CNA chose Tran Uyen Phuong to represent the successor class of family corporations in Vietnam.

Tran Uyen Phuong - successor character in Channel News Asia's program. Screenshot.

The report highlighted the process of building the group by Mr. Tran Quy Thanh as well as demonstrating the youthfulness of his successors. CNA's report shows that Tan Hiep Phat is a testament to sustainable development that requires understanding the real needs of consumers and respecting those needs. In the first years of its establishment, Tan Hiep Phat's beverage industry faced the Vietnamese people's habit of preferring free tea and water as well as strong objections from those around them.

According to CNA, Vietnam is among the fastest growing countries in the world in the coming years, with a rapidly growing middle class in a market of more than 90 million people. “The demand for beverage consumption in the Vietnamese market has grown very strongly over the past 15 years.

With the immediate goal of increasing revenue to one billion USD, building factories with large production capacity is very important in the company's plan," Ms. Uyen Phuong commented on this opportunity.

Image of Tran Uyen Phuong at work mentioned by Channel News Asia.

Seizing the opportunity, the group has invested heavily in its factory system and clean beverage production process such as the Aseptic production line. Thanks to that, the group has achieved a revenue of more than 500 million USD per year and aims to reach 3 billion USD by 2027.

Proud of that position, Mr. Thanh’s daughter, Ms. Tran Uyen Phuong, shared with CNA: “With the potential of the Vietnamese market, I think that goal is very reasonable and we can do it. We want to become a billion-dollar company within the next 5 years. And that is the way for us to step out into a bigger playing field.”

CNA's report shows that the founder's expectations are placing a heavy burden on the successors in terms of both the company's mission and growth targets. Ms. Tran Uyen Phuong and her younger sister have tried very hard to assume the role of successor and cope with the challenges in the family business.

Being energetic and proactive in daily work, actively contributing to society, constantly exchanging and learning with the business leadership class, knowing how to take quiet moments after work to orient the steps for themselves and the group. That is the image of the young successor class of Tan Hiep Phat Group that has been, is and will be built because: "Family businesses also need to have a vision, mission, and contribution to the community if they want to survive long term", Ms. Tran Uyen Phuong shared in The Successors./.

According to Infonet