New ForbesBooks release narrates a Vietnamese David vs Goliath story

September 3, 2018 | 03:00 pm GMT+7

A new book details how a Vietnamese firm spurned a multibillion dollar buyout and stood on its own.

The book is the first work by a Vietnamese author released by U.S.-based publishing house ForbesBooks.

Titled “Competing with Giants,” the book tells the story of Tan Hiep Phat (THP), a Vietnamese firm established during the difficult times that followed the Vietnam War, and its experience in competing with multinational giants.

150 guests watched musicians performing traditional Vietnamese music with Dan Bau - a single-stringed musical instrument at the book lauch event. Photo: Khanh Anh

150 guests watched musicians performing traditional Vietnamese music with Dan Bau - a single-stringed musical instrument at the book launch event. Photo: Khanh Anh

The book is also a research work on the business environment in Vietnam as it transited to a market economy in the late 1980s.

One of the highlights of the book is how THP rejected Coca Cola’s offer to buy a majority of its shares for $2.5 billion.

THP went on to increase its shares in the soft drink industry by focusing on bottled herbal tea and directly competed with foreign behemoths like Coca Cola, Suntory PepsiCo and URC.

Tran Uyen Phuong, co-author of the book, was well placed to get inside information as the daughter of THP chairman Tran Qui Thanh.

Tran Qui Thanh aka Dr. Thanh with his two daughters author Tran Uyen Phuong and Tran Ngoc Bich posed for a photo at the launch event. Photo: Khanh Anh

Tran Qui Thanh aka Dr. Thanh with his two daughters author Tran Uyen Phuong and Tran Ngoc Bich posed for a photo at the launch event. Photo: Khanh Anh

She said she was inspired to write the book by theencouragement she received from her professors at the Harvard University.

After she finished her training at the Ivy League university in 2012, she spent four years researching material for the book, which is co-authored by a British journalist Jackie Horne and U.S. economist John Kador.

“My professors and fellow students were mostly business owners, so they were interested in knowing why a local business could say no to a billion-dollar offer from a global soft drink company,” Phuong said at the book’s release in New York

Through the story of her family’s company and in-depth research of Vietnam’s economy, the book seeks to convey a key message – nothing is impossible, Phuong said.

“Indigenous knowledge combined with international business ideas can make a local company surpass multinational giants,” she added.

ForbesBooks director of business Justin Batt said “Competing with Giants” has great value for global readers, especially businesspeople and students of economics.

Justin Batt, Chief revenue officer of ForbesBooks stated the book was well-received by entrepreneurs and students of economic studies.

Justin Batt, Chief revenue officer of ForbesBooks stated the book was well-received by entrepreneurs and students of economic studies.

The book provides practical information on how and why a Vietnamese business gradually rose up and found its place in the international market, he added.

Dang Dinh Quy, Permanent Representative of Vietnam to the United Nations, said that the book has significant value in introducing the image of a new Vietnam that is rising up to integrate globally.

Phuong will introduce her book to international readers in the Philippines and Singapore before returning to Vietnam. Vietnamese version of the book will be published in October.

The publisher released 20.000 copies of the book on its debut. It is also available on Amazon.com.

The publisher released 20.000 copies of the book on its debut. It is also available on Amazon.com.

Established in 2016, ForbesBooks promotes authors by providing them with the opportunity to publish their content across the Forbes Media platform.

ForbesBooks has thus far published over 50 books on business and economics.

Anh Tuyet

 
 
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