Dai An chief succeeds with ‘village in an IP’

Chairwoman Truong Tu Phuong

Inspired by the Law on Enterprises

The turning point in Phuong’s life came 16 years ago, when she first heard of the Law on Enterprises. In it, the right to do business was mentioned for the first time, and the ‘private enterprise’ concept was first recognised.

“In the law, I saw a vast space for realising my passions. My opportunities would be decided by myself, and not by others. I discussed things with my colleague, Duong Van Thang, who was working as an architect. With our similarities, we decided to jointly start and cultivate a new career path, and enthusiastically support each other,” Phuong said.

Thang was also the person who advised that she return to the north. Phuong was born in Hanoi, and studied construction there. After graduation in 1978 she took a job at the Hanoi Civil Engineering Company. Two years later, in 1980, Phuong and her husband, and their child left for the south.

In 2002, after five-month surveys in six northern locations, Phuong and Thang decided to choose Hai Duong province for their return, where they planned to build a sizable industrial park covering 500 hectares, named Dai An Industrial Park (IP). The site in Hai Duong enjoys a strategic position, just 51 kilometres away from Hanoi, about 50km away from Haiphong’s ports, facing the national highway 5, and adjacent to the Sat river.

Now, looking back on the nearly 15-year history of Dai An IP, Phuong still insists that the decision to open the park in Hai Duong was one of the best decisions of her life.

Truong Tu Phuong honoured with the Thanh Giong Cup 2016 for her unwavering commitment to the development of industrial parks

A strong leader with a clear vision, achieved her goal Why did you invest in industrial park development, not in other fields? I believe the country’s strength is seen in its ability for international integration. Industrial parks stand as an effective bridge to attract foreign partners. From there, we will have opportunities for advanced technology transfer, improved thinking, and better socio-economic conditions. How do you feel about receiving the Thanh Giong Cup in 2016, which honours the best Vietnamese entrepreneurs? This honour was the aggregate contribution of our whole staff. Our employees have devoted their souls, minds, and energy to the successful development of Dai An Industrial Park over the past nearly 15 years.

An IP whose door has never closed

Vietnam is currently home to 321 IPs, and Phuong has been one of three female entrepreneurs who have ventured into a field that seems to be tailored to men.

Maybe that is why Dai An IP has had different strengths than other IPs. This is the first IP that shares its transport system with local residents. In Phuong’s words, “Dai An IP is the IP whose door never closes.”

In the field of IP development, this may be regarded as a disadvantage by some people. Having a residential village become part of an IP often leads to difficulties in controlling IP operation.

IP-based businesses are not accustomed to the model of “a village in an IP”, and the inconveniences it may cause. Usually the industrial complex is completely separate from the surrounding living space.

But Phuong had a different mindset. “If we could take care of the labourers’ dwelling, they would be totally devoted to work,” Phuong said.

On the ground-breaking ceremony of Dai An IP in early April 2003, Phuong pledged to balance the interests of the local people, who had allocated several hundred hectares of land to the IP developer. She promised that the people living on the IP project site would not have to leave for elsewhere to make their livelihoods. Phuong has kept her promise. And her success with Dai An IP has explained why she is regarded as a pioneer in the field.

Currently the park houses 58 investment projects from 15 countries and territories, employing 38,000 workers and 10,000 other labourers.

In 2012, Dai An IP was selected by the Ministry of Public Security as a typical sample model for building a “safe IP, with public order and security”.

As of today, the park has attracted $1.5 billion in registered investment capital. Most businesses have used eco-friendly technologies and well-trained labourers. That was also Phuong’s choice, which is to provide ‘new life’ for people in the project site.

Life is full of turning points

During the 2007-2008 economic peak, people rushed into stocks and the real estate market. At the time, Dai An IP had been in existence for more than four years. And had she wanted, Phuong could have ventured into multi-field businesses and become a major figure in the local stock market. She, however, stayed true to her original choice, focusing on Dai An IP development.

Phuong recalled that at that time she was nearly persuaded to venture into other fields to ‘test’ her strength. “One needs to clearly know their strengths and advantages,” Phuong said.

With Dai An IP, she has stuck with a winner.