Vì sao Bình Dương New City trở thành hình mẫu đô thị mới? - Oh Dongkun, CEO, Becamex Tokyu

Key Concepts:

• Binh Duong New City development
• Tokyu Corporation's Vietnam project
• Cultural differences between Japanese and Vietnamese work styles
• Challenges and opportunities for foreigners in Vietnam
• Importance of balancing cultural differences in business
• Vietnam's economic growth and development
• The role of Japanese investment in Vietnam
• The need for Japanese companies to adopt a long-term perspective in Vietnam
• Encouraging young Japanese professionals to gain overseas experience

1. Tokyu Corporation's Vietnam Project and Binh Duong New City

• Mr. Oh from Tokyu Corporation was sent to Vietnam in 2012 to develop projects, specifically the Binh Duong New City.
• He started as a board member and became president six years ago, overseeing all Tokyu developments in Vietnam.
• Tokyu, a company with a 100-year history, had previously operated hotels across the Pacific region but temporarily closed overseas operations around 2000.
• From 2010, Tokyu began exploring overseas growth markets, focusing on Southeast Asia, with Vietnam identified as the "hottest market."
• The focus within Vietnam was on the southern region.
• The Binh Duong New City project is planned to take about 30 years in total, with 20 years still remaining.

2. Vietnam's Development and Economic Growth

• Vietnam 14 years ago was in a developing phase with fewer modern amenities.
• The country is experiencing rapid development, ranking among the top in GDP growth globally.
• Housing prices and salaries are steadily increasing.
• The cost of living has risen significantly, with restaurant prices now surprising even long-term residents.

3. Cultural Differences in Work Styles

• A significant difference exists between Japanese and Vietnamese work styles.
• Japan emphasizes precision and strict adherence to plans, while Vietnam is more flexible and adaptable.
• Promises are not always kept in Vietnam, which can be challenging for those accustomed to the Japanese work ethic.
• Mr. Oh initially faced difficulties applying his Japanese work style in Vietnam.

4. Uniqueness of Binh Duong New City

• The city-building work is not exclusive to Tokyu, and similar developments can be found elsewhere.
• The difference lies in the combination of various elements within a large-scale area (1,000 hectares).
• Binh Duong New City aims to integrate well-developed infrastructure, commercial facilities, and desirable residences.

5. Challenges and Opportunities for Foreigners in Vietnam

• Vietnam can be a challenging country for foreigners due to cultural differences and bureaucratic processes.
• Dealing with "giantification" (bureaucracy) in public administration is a significant challenge.
• Success requires good product planning, effective communication with employees, and attracting customers.
• Vietnamese consumers tend to prefer higher-quality products, even if they are more expensive.

6. Balancing Cultural Differences in Business

• Explaining cultural differences between Vietnam and Japan is crucial for successful collaboration.
• Adjusting expressions, schedules, and plans to suit the Vietnamese people is necessary.
• Managing expectations and communicating effectively with both Vietnamese and Japanese stakeholders is essential.
• Mr. Oh has learned to enjoy finding a balance between the two cultures, which he believes suits his personality.

7. The Future of Japan-Vietnam Collaboration

• Vietnamese people have a strong sense of balance and can interact well with different cultures.
• Japan's straightforwardness can lead to failures overseas, but its people are diligent and hardworking.
• The relationship between Japan and Vietnam may have weakened slightly compared to 10 years ago.
• Strengthening the relationship between the two countries at various levels is beneficial for Vietnam.
• Japanese companies should be viewed with a long-term perspective, as they steadily expand and work consistently.

8. The Need for International Experience

• Japanese people are not very internationalized, with many preferring to stay in Japan.
• Young Japanese professionals should gain overseas work experience, particularly in Vietnam, for 3 to 5 years.
• Such experiences will be valuable for their professional development and contribute to their company's success.

9. Notable Quotes and Statements

• "Vietnam is a country where many things can be quite difficult for foreigners, and this is not my opinion but that of other expatriates."
• "In Japan, things tend to be done very precisely and strictly as planned. But in Vietnam, things are more flexible."
• "I think if you can create something quite genuine and good, people will definitely accept it."
• "It's better to strengthen the relationship between Vietnam and Japan on various levels, including intergovernmental, business, and private levels."

10. Technical Terms and Concepts

• GDP: Gross Domestic Product, a measure of a country's economic output.
• FDI: Foreign Direct Investment, investment made by a company or individual in one country into business interests located in another country.
• Giantification: A term used to describe the challenges of dealing with bureaucracy in public administration.

Synthesis/Conclusion:

Mr. Oh's experiences highlight the complexities and rewards of doing business in Vietnam as a Japanese company. The Binh Duong New City project exemplifies the potential for successful development through a combination of strategic planning, cultural sensitivity, and a long-term commitment. While challenges exist, particularly in navigating cultural differences and bureaucratic processes, the opportunities for growth and collaboration between Vietnam and Japan remain significant. Encouraging young Japanese professionals to gain international experience and fostering stronger relationships between the two countries are crucial for future success.