It was our second day in Vietnam, and I once again enjoyed a delicious breakfast at the hotel. After breakfast, we went to UEF where we listened in to a lecture about the rural development and plans for the Mekong Delta. UEF then hosted a brief language class where we went over the basics, and the students gave us all Vietnamese names. I simply sat by because I already have a Vietnamese name, but the students expanded on the meaning of my name which means “bright light.” I started as Quang and ended as Quang.
After a delicious lunch, we had a site visit at Green Viet, the premier green building consultancy firm in Vietnam that dominates more than 50% of the market share. The co-founder, Mr. Quang Do, delivered a thorough presentation discussing the market conditions and geopolitics affecting Green Viet as well as how Green Viet distinguishes itself among competitors.
With the global push for green energy and sustainable practices, there’s a clear foundation for the green consultancy industry, and businesses like Green Viet, but there are numerous factors affecting Green Viet’s success. From the co-founder’s presentation, one of the key factors in Green Viet’s success appears to be their clear understanding of itself in the market and capitalizing on the unique advantages it has of being based in Vietnam. They are an international player in the Southeast Asia region, but they’ve prioritized establishing their foothold in Vietnam to build prominence and reputation. There are other international players, but they face barriers of entry, including cost sensitivity, business culture, brand recognition, and more. While Green Viet is an international player, they’ve prioritized their growth and project volume in Vietnam, minimizing the costs of working in other countries, and have delivered excellent product to build strong relations and credibility.
Another key factor seems to be Green Viet’s strong work ethic. Co-founder Quang Do especially emphasized overdelivering to ensure maximum quality for every client. Through this, they ensure every client is satisfied to the fullest. This type of mindset can be applied to many aspects of work, school, and life in general, with the general idea being to put all my effort into every project and activity that I partake in.
Moving forward, Green Viet is in an interesting position in the market. They dominate the green building consulting industry in Vietnam, with the next step being to expand further internationally. While they aren’t entirely reliant on the international market given their success in the Vietnamese market, their actions to expand into more international space will be key in expanding and exploring new market space while maintaining their quality of product. Overall, they are an excellent example of a thriving business in a newly created industry in the quickly developing Vietnam. I’m excited to learn about more businesses in the next few site visits!
