Vina T&T business lesson

The General Direct of VINA T&T Group, Mr. Nguyen Dinh Tung, who has many years’ experience at import and export filed, said that company vision plays an important role. 

To run a long distance, vision and open play an important role.

In terms of the startup business, he began with the logistics company that was established in 2008 shipped the goods as well as had a reputation in the market. Fortunately, one Chinese customer raised a problem that they will deposit USD 300,000 (not count daily charged fee) in order to ask the company to export the “tiger prawn” every day.
The attractive contract makes us give up the other filed fresh fruits, for example. Until the enterprise has the trouble, this leads to bad revenue; therefore, the income from the other field is totally necessary. However, this is too late. In business, success will always be successful, but you are defeated you will feel the bitter sting of defeat.
At this difficult situation, some of the customers raised the dragon fruit problem. I shared the real situation of the company that the company isn’t able to do dragon fruit, but the customer wants me to do this, gives me the shipping cost and advises me to do. 
“Due to some of the financial weakness points of the company, though I accepted, I faced a lot of problems, for example, Limitation “Face to Face” with partners as being closed. Fortunately, the contract is successful and this is the main condition for the development of VINA T&T group in the field of import and export fresh fruits”. Mr. Tung recalled the difficult time when he did start- up. 

On the other hand, Mr. Tung shares the new strategy of Vina T&T that the fruit store chains opened base on the demand the output of the second- class fruits from farmers. This is expected that at the end of June 2019, there are two stores that are opened at Ho Chi Minh City. The current situation is that all of the grade one fruits are exported; however, the number of s grade two fruits remains too much. This is the reason why the traders try to decrease to price and this leads to the disadvantages to the farmers. Therefore, VINA T&T creates the output for this issue.
Sharing about the story of exporting coconut to the US, Mr. Tung started with thoughtful thoughts about the current situation “Vietnamese people try to harm each other by decreasing the price of coconut in the country.” Mr. Tung said: “Thai coconut will do business together by comparing the price between the outside and the domestic. Next, they will co-operate and share in common prices to protect the value of domestic goods. By contrast, in Viet Nam, they will try to decrease the price and find a way to compete. The problem is that need to be considered not only the coconut industry but also the other industries in the country.
Due to the fact that the quality of Vietnam Coconut is extremely good as well as has the ability to compete with Thai Coconut. This is the priority condition making the success of Viet Nam coconut in the US market. The second factor is the support of Vietnamese customers as well as Vietnamese partners in the US. There are some moments that the price fluctuates; they sell at a low price in order to maintain a stable price. Thanks to this support, people know more about “Vietnamese coconut” instead of “ Thai Coconut”.

Sharing about start-up experience, Mr. Tung acknowledged, a while ago, when starting a business as a movement, young businesses were assessed more instinctively. It is not too difficult to see the cost limitations, knowledge skills (outside of specialization), personnel … are considered as the main factors that lead to undesirable failures.
At present, the trend of the startup in Vietnam has the tendency to compete in the long- term, specialized and closer to sustainable values, the factor of human being that is the owner can be considered an important factor for organizations to reach their goals.
Mr. Nguyen Dinh Tung, General Director of Vina T&T Group said that after one month of exporting the first shipment of 20 tons of mangoes to the US market by air and sea, the company has successfully exported the volume mango with 71 tons. 
According to Mr. Tung, the US market signal is very good, we have been exporting goods continuously since the US market officially opened with Vietnamese mangoes. The company has orders to export mangoes continuously every week, Americans love to eat mangoes in Vietnam.
Vietnamese mangoes licensed to the US will help the company increase 15-20% of revenue in 2019 (excluding other fruits). Purchasing price of mango from exporting enterprises in cooperatives, buying units is 30-40% higher than the domestic selling price.

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