Vietnam electronics tycoon sets up new investment group

By Bao An   September 9, 2020 | 05:00 pm PT
Pham Van Tam, founder of electronics firm Asanzo, has set up the Winsan Group, a $43 million enterprise to invest in electronics, dental and food ventures.
Pham Van Tam - Chairman of the Winsan Group Investment Joint Stock Company.

Pham Van Tam, Chairman of the Winsan Group Investment Joint Stock Company.

Tam recently announced a new role as chairman of the Winsan Group Investment Joint Stock Company, which will function as a financial investment company for small and medium enterprises (SMEs).

Winsan is like a 'power pump' for businesses that have great potential for scaling but lack financial resources and management experience, he said.

Unlike the model launched by Asanzo last year with a focus on electronics and hardware startups, Winsan expands the portfolio to other areas including dentistry, consumables and food and beverages.

In addition to funding, the group will also support SMEs to recruit talented employees and leading experts for senior positions, facilitating breakthroughs and reducing the failure rate in a competitive market.

Tam said that Winsan was a step towards expanding the ecosystem out of household electronics. The name Winsan is inspired by the term win-win concept in modern business, hoping to bring victory for both sides when cooperating, he explained.

The company’s initial capital is estimated at VND1 trillion ($43 million), 70 percent of which will be invested in technology - electronics businesses.

In the first phase, we will select SMEs with products serving the majority of average consumers, low-income employees. This tight criterion will help optimize capital investments, Tam said.

Industrial real estate and logistics are also important investment portfolios that Winsan will promote in the near future, he added.

E-commerce presents great opportunities amid the ongoing Covid-19 pandemic, creating added momentum for industrial real estate and logistics to meet the need to lease factories and warehouses. The shift by multinationals to produce in Vietnam is another positive sign, he said.

The Asanzo founder said that he’d been covering the investment group model for about three years as he witnessed the increase in business efficiency when empowering young directors to manage production.

Many of these people are trained abroad in corporate governance of developed industries with the capacity to formulate medium and long-term strategies. In addition to capable personnel, market data analysis helps accurately forecast business situations, reduce inventory lines and cut costs while ensuring proactive supply of goods corresponding to market demand.

At first traditional distributors complained about challenging import regulations when applying new quality and processes. But after a while, they found that these adjustments bring positive effects. The goods is shipped quickly and meet customers’ taste, creating satisfaction on both sides, Tam said.

Tam also appreciated young talents when interacting with them through start-up projects, like the Startup Viet competition organized by VnExpress, which urged him to establish this investment model instead of concentrating on just one enterprise.

Tam also aims to draw in foreign partners who have worked with Asanzo for several years, thereby creating a large-scale investment fund, accessing and supporting a variety of business models.

With a strong capital base, we will enhance the search for suitable products with local elements, understanding local consumers, then create new brands that make a real mark on the market.

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