Mr. Yeon In Jung, CEO & General Director of Doosan Heavy Industries Vietnam, tells VET about the company's business performance and plans and his recommendation on improving Vietnam's business and investment environment in 2016.
What was notable about the company’s business performance in Vietnam in 2015?
The achievement we are most proud of was the continued localization of the company.
Today we have nearly 2,500 employees and 98 per cent are Vietnamese. This includes 642 engineers that are our future and the ones that will drive the company in the years ahead.
Last year we had well over 50,000 hours of training in 32 different training programs for our staff. And because of these training programs their skills and abilities have grown substantially, which is directly in line with Vietnam’s goals of developing a heavy industry sector.
These men and women are also the ones who can proudly say they were behind the early completion of the Mong Duong II power plant, which is now producing 1,200 MW of electricity for the country from northern Vietnam.
They produced the key mechanical equipment for Mong Duong II and have supported Vietnam’s development, both domestically and internationally, as leaders in heavy industry, becoming a powerful force in the country’s industrialization.
Another milestone this year was the first shipment of products for a thermal power plant in the US, which is important because as one of the world’s most developed countries it is a key addition to our client list.
Another thing we are extremely proud of is our EHS (Environment - Health - Safety) program, which resulted in a year with no major accidents. The program is something we take very seriously and we dedicate a lot of resources to seeing that everyone is safe.
What are your business plans in Vietnam in 2016? Do you have any plans to expand your facilities and investment sectors?
We have plans to continue to expand our client list both domestically and internationally.
With the projects we completed in 2015 there are now high tech, “Made in Vietnam” heavy industrial products at work in 27 countries around the globe.
And as part of our strategy to enhance operations we have plans to move our technical production capabilities forward in a big way in 2016.
The details are yet to be finalized so we can’t really announce the specifics yet, but they are significant and in addition to the already major transfers of technical expertise we’ve brought to Vietnam these will also be a positive factor in the country’s development.
What suggestions would you make to the Vietnamese Government and policy makers to improve the business and investment environments?
The competitive advantages of operating in Vietnam are good but the global marketplace that we live in today requires that leaders constantly monitor regional and worldwide moves that affect foreign direct investment (FDI).
Some of the suggestions that were recently put forth by the Korean Chamber of Commerce dealing with overtime restrictions and the planned increase in social insurance premiums are ones that we hope are considered this year.
These changes have the potential to affect the competitiveness of all Made in Vietnam products in big ways so we think they are worth a thorough examination.