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Can forward any information on Vu Quang Hoi and Bitexco?
Hello! Thanks for your question about information on Vu Quang Hoi and Bitexco Group of Companies. The short version is that Vu Quang Hoi is the Chairman of BITEXCO GROUP of COMPANIES - a Vietnamese conglomerate pursuing infrastructure projects, manufacturing, mining, and real estate development. Below you will find a deep dive of my research and findings.
METHODOLOGY
To answer your question, I first reviewed BITEXCO Group of Companies and its leadership to get a vague understanding of what it does and its top leadership, i.e., (who the CEO and Chairman are). I then scoured their entire website including the news and events section to find information relating to what Bitexco Group offers, its subsidiaries, notable achievements, and developments. I combined information from other external sources such as trusted media sites and corporate websites to gather expert opinion regarding Bitexco's chairman Mr. Vu Quang Hoi and the conglomerate.
FINDINGS
Bitexco began as a textile firm in 1985 in the province of Thai Binh, Vietnam. In 1996, the company began diversifying and growing its business in the production of mineral water and by 2000, following the inception of the new Chairman Mr. Vu Quang Hoi, the company was constructing high-profile real estate projects in Hanoi and Ho Chi Minh City. Under the guidance of Mr. Vu Quang Hoi, Bitexco has transformed into a global conglomerate with major businesses in real estate, mineral water manufacturing, oil & gas mining, hydro=power production, and infrastructure. Currently, the Bitexco Group of Companies has over 3,000 employees working in Ha Noi, Ho Chi Minh City, and Thai Binh.
To achieve substantial leaps in growth and development, the conglomerate invests heavily in ultra-modern equipment and machinery. For instance, the brand "Vital" the first mineral water brand in Vietnam was first manufactured by Italian technologies and meet the high European quality standards. The company's reputation in Vietnam hinges on its 'sustainable development and global perspective, ' and resilient strive for growth and success. Bitexco believes the path to its success is the vision of its leadership, fused with the reliability of its business partners, and the loyalty of its patrons. The group of companies aspires to become Vietnam's number one corporation, and a globally competitive business that "exceeds the expectations of its customers" with state-of-the-art products and services and care for quality.
KEY DRIVERS BEHIND BITEXCO's GROWTH AGENDA
The key drivers behind Bitexco's growth agenda include its strong network with leading financial institutions and companies such as Vietcombank, PVN, Vietinbank, BIDV, Emaar Properties (Middle East), Tata Power (India) Marriott International Incorporation, and Turner International (U.S.). The corporation anchors its ambitions on six core philosophies that include:
- Penetrating into enterprising, high-growth business domains, i.e., real estate, energy, infrastructure, etc.
- Standing out from the rest through a differentiating mechanism dependent on unique management approach, decent planning, sophisticated design, and modern technology.
- Establishing competitive plans with global players for regional and international economic relations and integration.
NOTABLE ACHIEVEMENTS
January 2015, JW Marriott Hotel Hanoi won the International Hotel Award with the highest scores in the best hotel and the best convention hotel categories. The hotel was also awarded the prestigious Robb Report Vietnam’s Best of the Best Awards for the second consecutive time. In addition to the two prestigious awards, the JW Marriott Hotel was again awarded The Traveler’s Choice Award by TripAdvisor.com, and the Award of Excellence for Guests Reviews 2014 by Booking.com in early January 2015.
According to Thrillist.com top ten “coolest skyscrapers” in the world, Bitexco's Financial Tower features on the list and is described as "a fusion of Vietnam's past and present, from the lotus blossom helipad to the chic office and retail interiors." The building was designed to cater for the country's growing business needs and includes a mall, office spaces, food court, helipad, cinema, stylish sky restaurants (Strata and Cirrus), an observation deck, and a three-story convention center.
Bitexco engages actively in various global and regional events to create and raise awareness on different matters. On 28th March 2015, Bitexco Financial Tower alongside The Garden Shopping Center, and J.W. Marriott Hotel in Hanoi City switched off their lights from 8.30pm to 9.30pm during the Earth Hour event whose theme was "Use your power to change climate change.” The event is recognized globally, and Bitexco hopes that their little contribution will partly aid is raising public awareness regarding climate change.
VU QUANGN HOI - CHAIRMAN BITEXCO
Mr. Hoi has held the Chairman position for Bitexco since the conglomerate began to diversify its business offering and he is in control of overall Corporate Strategy and Development Plan. Hoi graduated from Hanoi University of Agriculture (mechanical engineering) and began his early life career as a management graduate in BITEXCO in the late 1980s and has committed his career to transforming BITEXCO into a strong, Multi-industrial private company.
Under his leadership, Bitexco has turned its textile business to a more diversified technology-intensive fast growing corporation with businesses across sectors such as construction, hydro-power generation, infrastructure, mining, and real estate. He has delivered a competitive edge to Bitexco by adopting international best practices in corporate management, work conduct, project management and human resource. Hoi's vision has allowed Bitexco to stand strong and prosper even during the global recession. He has brought in new initiatives and concepts into every sector of Bitexco. Hoi's initiatives in the real estate market have influenced the Vietnamese economy towards improving the quality of living standards of Vietnamese.
Vu Quang Hoi pioneered the entrance of private enterprises into sectors which were exclusively controlled by State Owned Enterprises (SOEs) such as Oil & Gas mining and infrastructure development. Despite technical and financial constraints, Hoi has managed to contribute heavily towards the upgrading of infrastructure in remote areas with hydro-power projects in Ha Giang and Dien Bien.
According to Vu Quang Hoi, Bitexco will prioritize people above all else, and develop an improved environment and living conditions with its businesses and individuals. The company aims to achieve that by investing in sectors such as Infrastructure, Real Estate, Oil and Gas, and Hydro Power plants, in creating a tomorrow where all Vietnamese can grow and succeed together. The Chairman echoes four crucial principles that will guide Bitexco in its journey, and they include:
- Pursuing excellence in everything Bitexco does
- By being judged by Bitexco's associations
- Acknowledging social responsibility
- Putting the people at the heart of the organization
BITEXCO's CEO THOUGHTS ABOUT VU QUANG HOI
During an interview by Forbes Korea with Bitexco CEO Ko, the CEO explains how he met with Bitexco Chairman Vu Quang Hoi and continued to say, "I think he liked me at the table. After then, the Chairman proposed to me a position of CEO at BITEXCO for many times and I could not resist the offer..."
When asked what made him change his mind and accept the offer, CEO Ko continues to say that, "I loved the Chairman’s professionalism as a businessman and his passion for contributing to Vietnam’s economic growth." He adds that Vu Quang Hoi believed in his 'expertise in construction' and 'general business management.'
In addition to the information contained here, I have included a google spreadsheet with details of Bitexco's subsidiaries and strategic partners. In total, Bitexco has 26 subsidiaries with 10 being in the Hydro-Power sector.
CONCLUSION
To wrap it up, Vu Quang Hoi is the Chairman of BITEXCO GROUP of COMPANIES - a Vietnamese conglomerate pursuing infrastructure projects, manufacturing, mining, and real estate development
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