Thriving on stronger US-Vietnam relations

Amway Vietnam general manager Huynh Thien Trieu

This year marks the 25th anniversary of diplomatic relations between Vietnam and US. How have the two countries’ relations affected Amway’s business in Vietnam?

Amway Vietnam is a business arm of Amway Corporation headquartered in Michigan, US. In 2006, Amway decided to invest directly in Vietnam and we are overjoyed by the fast and outstanding development of the bilateral relations between Vietnam and the US.

The two countries have already placed their relations on the basis of a comprehensive partnership and senior leaders from both sides have conducted 10 visits to each other, delivered eight joint statements, particularly the one stepping up the bilateral comprehensive partnership in 2013. Prime Minister Nguyen Xuan Phuc is the first leader of an ASEAN country to have paid an official visit to the US right after the election of President Donald Trump – and vice versa, President Trump was the first US president to visit Vietnam twice in a single tenure.

As the ties between our two countries grew tighter, Amway Vietnam has proven right in its sustainable development strategy as well as strong commitment for long-term investment in Vietnam.

2019 has been a particularly successful year for Amway Vietnam

What opportunities do you see in the coming times?

Compared to the 60-year history of Amway Corporation, Amway Vietnam is still in its adolescence with its 12 years of operation. However, Amway Vietnam’s sustainable development and human-oriented strategy is what made us the most successful direct selling model in the country.

According to the World Federation of Direct Selling Associations, direct global retail sales increased to $192.9 billion in 2018 from $166.88 billion in 2012. More and more customers prefer direct selling and this will expand significantly in the time coming.

Along with positive new consumption trends, the Vietnamese health, beauty, and homecare market is said to turn even more vibrant due to a growing young population. Moreover, the plethora of free trade agreements Vietnam is now party to pave the way for the evolution of Amway and US investors in Vietnam to gain a larger market share and enhance their contributions to the development of the country’s economy.

Additionally, ranking first in sales for six consecutive years in our industry worldwide, we believe that Amway will continue to grow across the globe and in Vietnam alike.

What is Amway’s strategy for the future?

Amway pledged to pour $500 million this year into digital transformation to boost global growth and support distributors to meet rising customer demand. This cutting-edge technology will be deployed in all markets where Amway operates in order to keep in step with global trends and encourage the development of Amway over the world.

In Vietnam, we are interested in new trends of physical and mental healthcare, and are developing community activities related to health and beauty. We also invest into 4.0 digital equipment to provide new, improved customer experiences in shopping and enjoying our services.

Last year was one of our most satisfying years so far, and we could not have reached so far without commitment and hard work of all our stakeholders. The year has been heavy in awards and certificates, such as the prestigious Top 100 in Vietnam’s Corporate Sustainability Index 2019, HR Asia’s Best Companies to Work for in Asia 2019, and the Minister of Health’s merit for educating and improving community health during 2008-2018.