From distributing electrical appliances, after 30 years, T&T Group has expanded its business to many fields with a network of 200 member units and a charter capital of more than 22,000 billion VND.
On November 30, T&T Group held a ceremony to receive the First Class Labor Medal. This is the third time the group has received this award for its contributions to economic and social development, on the occasion of its 30th anniversary.
Ms. Vo Thi Anh Xuan. Vice President (red ao dai) awarded the First Class Labor Medal to the leaders of T&T Group. Photo: T&T Group
In 1993, T&T Co., Ltd. was established as one of the first private enterprises operating in the field of importing and distributing electrical products of Matsushita Group and Mitsubishi Heavy Industry. Two years later, T&T rose to become the leader in the Northern region in the field of import and distribution. The success in a short time came from the fact that this unit updated the latest technologies at that time, and at the same time had a policy of training a team of skilled engineers.
In the late 1990s, Vietnam encouraged the development of the motorbike industry. T&T shifted to investing in building the largest engine, spare parts and motorbike assembly factory in Vietnam in Hung Yen. The localization rate reached 80%. On average, the company launched about 70,000 motorbikes to the market each year, of which 80% were consumed domestically and 20% were exported to African and South American markets. In addition, the company also produced motorbikes at competitive prices compared to FDI units. Thanks to that, the T&T motorbike brand was chosen by many urban and rural consumers.
By 2005, this enterprise continued to transform itself when participating in the financial sector by contributing capital to SHB Bank, formerly Nhon Ai Rural Bank. The unit also joined large state corporations, invested in founding and became a major shareholder of a number of financial institutions such as Saigon - Hanoi Insurance Corporation (BSH), Saigon - Hanoi Securities Corporation (SHS)...
From a private enterprise, the unit changed its operating model to a corporation two years later. Along with the change was the expansion of business into many fields such as real estate, agriculture, forestry, fishery, consumer trade, transportation, logistics, sports, etc. T&T Group also expanded its investment abroad by establishing member units in the US, Germany, Russia and Australia markets.
T&T Company Limited (the predecessor of T&T Group) was established in 1993. Photo: T&T Group
When converting to a new model, T&T Group participated in equitization and restructuring of inefficient state-owned corporations and companies with the goal of restoring the brand and enhancing the value of these enterprises.
To date, T&T Group has grown to become the leading multi-industry private economic group in Vietnam. Its charter capital is currently VND22,000 billion. The ecosystem has over 200 member units, 80,000 employees, hundreds of thousands of shareholders and millions of customers. "After 30 years of development, we are still steadfast in our path of linking the interests of the enterprise with the development and progress of society, and the prosperity of the country," said a representative of the group.
This unit also actively expands international cooperation to invest in business in most areas of operation such as green energy, transportation, logistics, etc. Recently, the group has received a commitment from Standard Chartered to arrange a financial amount of up to 6 billion USD to finance green projects in Vietnam... According to the unit, the strategy of enhancing international cooperation is the current focus, helping to mobilize financial resources, access management capacity, human resources and technology transfer from leading corporations.
Group's staff. Photo: T&T Group
In addition to business, T&T Group organizes many social responsibility activities. The unit was assigned to survey, research, design and develop a conservation plan for the President Ho Chi Minh Memorial Site in Nam Dan, Nghe An. Most recently, on November 28, the People's Committee of Nghe An province and T&T Group started the project of the Cultural Tourism Area and the 9-storey Waterfall project at the tomb of Mrs. Hoang Thi Loan in Nam Dan, Nghe An.
This group was also assigned by Quang Tri to survey, plan and implement the construction of Quang Tri airport. The unit also sponsored the construction of lighting and sound systems at the Truong Son National Martyrs Cemetery, the Quang Tri Ancient Citadel National Special Monument and the Hien Luong - Ben Hai River Delta Special National Monument.
According to the unit, each year, the budget for social activities amounts to hundreds of billions of VND. Of which, the group spends a large amount of money to support the disadvantaged, people affected by natural disasters, build charity houses, schools, and award scholarships to poor students. During the Covid-19 pandemic, T&T Group and SHB Bank, along with businesses in the ecosystem, donated 1,500 billion VND to support epidemic prevention efforts.
T&T Group is also known as the "leading flag" in the socialization and development of sports. T&T Group's Hanoi Football Club contributes many key players to the Vietnamese national teams. In addition, the group sponsors and supports the promotion of sports movements in many localities such as Thai Nguyen, Can Tho, Bac Giang, Quang Nam, Da Nang... T&T Group also invests in table tennis with the desire to reach the continental level. Mai Ngoc and Anh Hoang are two athletes of the Hanoi T&T Table Tennis Club who helped Vietnam win the first SEA Games gold medal in 26 years.
Sharing at the Labor Medal awarding ceremony on the evening of November 30, Mr. Ha Minh Hai, Vice Chairman of the Hanoi People's Committee, highly appreciated the orientation and business strategy of T&T Group in the current period. Hanoi leaders believe that the group can seize opportunities, promote existing potentials to realize sustainable development goals, apply technology to production and business activities, especially in areas that create driving forces for the economy.
Mr. Do Quang Hien, Founder and Chairman of the Strategy Committee of T&T Group, said that the group's achievements come from many factors. Among them, the group receives support from the government, and cooperation from partners, investors, businesses, and entrepreneurs at home and abroad. Mr. Hien also emphasized the role, dedication, and creativity of the staff.
In addition to receiving the First Class Labor Medal three times, this multi-industry corporation has also received the Second and Third Class Labor Medals. Mr. Do Quang Hien - Founder and Chairman of the Group's Strategy Committee, also received the First, Second and Third Class Labor Medals, the Outstanding Citizen of the Capital in 2018, the Bach Thai Buoi Award - Vietnamese Entrepreneur of the 21st Century, and was honored as an Asian Entrepreneur in 2017.
Mr. Do Quang Hien - Founder, Chairman of the Group's Strategy Committee, received the First Class Labor Medal in 2020. Photo: T&T Group
The group's representative said that the business goals for the next 30 years will continue to be closely linked to the national spirit. "Our core values are summarized in 6 words: pure heart - achievement - goodness. T&T Group always has the aspiration to lead the region, creating a national brand on the international map," the unit's leader affirmed.
Hoai Phuong
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