Sharing at the Cultural-Industrial Convergence Urban Conference (CICON HCMC 2023) with the participation of Korean and Vietnamese enterprises, Mr. Johnathan Hanh Nguyen, Chairman of the Inter-Pacific Group (IPPG) said that Korean investors are focusing on Vietnam.
Talking about his personal business activities, the billionaire said that IPPG was originally a family corporation. However, at this stage, IPPG's leaders have begun to think about opening up and becoming a public company. "It's not that we are conservative and just want to keep it all to ourselves. We look forward to and welcome cooperation and investment from Korean investors. The group has experience working with many Korean companies," he said.
Along with that, IPPG is planning to deploy 45 projects nationwide. In which, Thu Duc City in Ho Chi Minh City will be the location where businesses focus their investment.
The IPPG Chairman also said that Vietnam needs to focus on tourism combined with shopping, duty-free shops, shopping malls, etc. to attract international visitors. In Korea, revenue from this sector is up to 16 billion USD, while revenue in Vietnam is not commensurate with its potential. Currently, duty-free business in Vietnam is only concentrated in the airport area.
To better serve shopping activities, state management agencies also need to calculate the planning of underground spaces within central urban areas. For example, Singapore, Japan, Thailand, and South Korea do not only do business on the ground. Many countries have underground business centers, connected to each other by underground tunnel systems.
In addition, he said that if large entertainment brands and complexes such as Disneyland, Universal Studios or Lottle World were brought to the country, they would attract a huge number of visitors. For example, Disneyland alone contributed 1.5% to Hong Kong's GDP growth rate (China); Marina Bay Sands contributed 2% to Singapore's GDP.
"The effectiveness is clear, why doesn't Vietnam do it when the opportunity is in hand?", Mr. Johnathan Hanh Nguyen asked.
After 35 years of establishment, IPPG has 17 member companies and 18 joint ventures. This is the official distributor of 92 global brands in the fields of fashion, food, and wine.
Currently, key positions in IPPG's Board of Directors are held by members of Mr. Johnathan Hanh Nguyen's family.
In addition to his position as Chairman of IPPG, Mr. Johnathan Hanh Nguyen is also Chairman of Cam Ranh International Terminal (CRTC); Chairman of Tan Son Nhat Airport Services Joint Stock Company (SASCO). He is also known as the "King of Branded Goods" in Vietnam.
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