The successful generation transfer within Alphanam Group

13:00 | 02/04/2020
Alphanam was founded in 1995 by Vietnamese businessman Nguyen Tuan Hai at the age of 30. The company quickly became Vietnam’s leading contractor for mechanical and engineering products.
the successful generation transfer within alphanam group
Nguyen Tuan Hai has entrusted his children with the future of the family business

For the first ten years since the company’s foundation, Alphanam was involved in many industries, such as infrastructure, electrical engineering, and paints with factories across the country.

In 2011, the group opened a new chapter when chairman Nguyen Tuan Hai let his son Nguyen Minh Nhat and his daughter Nguyen Ngoc My take over parts of the business to lead the group.

With these new young team leaders, the company entered the real estate sector with a firm foothold, developing a series of prestigious real estate projects in Lao Cai, Hanoi, Danang, Binh Dinh, and Ho Chi Minh City, among others. Nhat was appointed as CEO of Alphanam Real Estate JSC at the age of 28 while My has been the CEO of Foodinco Land JSC since the age of 25.

Explaining his faith in his children’s management abilities and responsibilities, Hai said, “I believe I am not as good as my children and the reality is proving that.”

Since his children were small, Hai often brought them to his business trips, showed them his work, his partners and manufacturers.

“Those lessons we learnt from our father from early childhood helped us a lot and determine how we act today,” said Nhat.

Alphanam’s series of real estate projects throughout Vietnam include hospitality, residential, commercial, and urban planning projects with a great contribution from both of Hai’s children. Their successes are highlighted by the negotiations with Marriott International, and InterContinental Hotels Group, bringing in nearly 15 hotel projects, besides Altara, the brand Alphanam developed itself.

Among these hotel projects, the imposing real estate projects of M Landmark tower, the Altara Suites, and Four Points by Sheraton hotel are some candidates to create new luxury accommodations and apartments for both residents and travellers in Danang City.

In addition, the group also pays much attention to cultural tourism promotion with its Muong Hoa Cultural Park that encompasses a full range of attractions, accommodation, and public amenities. The programmes and architecture work in tandem to accentuate and enhance the landscape.

Designed with respect to nature, the terrain, and local communities, the cultural park aspires to provide visitors an experience through giving the five indigenous tribes a voice that reverberates throughout the valley of Sapa to the world.

“The plan to bring Sapa to the world stage does not stop at just one hotel. We have more projects in the pipeline such as Courtyard by Marriott hotel, JW Marriott Resort & Spa, Holiday Inn Resort, and InterContinental Resort, to offer a variety of products in Sapa fit for different domestic and international demands,” My shared.

Apart from business, My told VIR more about what she has done with the Alphanam Green Foundation. The foundation, founded in 2016, is currently sponsoring a series of environmental initiatives to help establish better living standards for communities across Vietnam.

My also shared that the succession in her family takes place naturally. “My father has never imposed on us, he always raises the matter and entrusts us with those duties, and then lets us find the way ourselves,” she said.

Both Nhat and My shared that they learn from their father. “We are not afraid of a challenge and always adhere to our father’s saying, ‘Do more than what you say’.

At present, according to Hai, he has passed down over 70 per cent of the group’s activities to his children and works now as an advisor, backing the two in managing the business. After years of ups and downs, both Nhat and My play a key role in the group’s impressive business activities and have gained a lot of achievements that help them to create a new fruitful face for Alphanam’s family business.

By Nhat Ha

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