Overseas Vietnamese's mark in the development of Ho Chi Minh City and the whole country

Mr. Nguyen Hanh (Johnathan Hanh Nguyen) - Chairman of the Board of Directors of the Inter- Pacific Group (IPPG): I understand that maintaining the flight route at that time had great significance for the integration and development of the country, so I accepted to take a loss to keep the flight route - Photo: VGP/Le Anh

Lesson 1: Overseas Vietnamese businessmen and the mission of "opening the sky"

In a conversation with reporters of the Government E-newspaper on the occasion of the 50th anniversary of the Liberation of the South and National Reunification Day (April 30, 1975 - April 30, 2025), Mr. Johnathan Hanh Nguyen, - Chairman of the Board of Directors of the Inter-Pacific Group (IPPG), who studied and worked abroad, achieved success, then returned and made many contributions to the country, was awarded the First Class Labor Medal by the President, shared about his journey back with the "mission" to contribute to "opening the sky" for Vietnam to gradually integrate with the global economy , as well as proposals and suggestions in the coming period for Ho Chi Minh City to grow sustainably, confidently entering the era of national development with the whole country.

Dear Sir, Could you please share about the context when you returned to the country and your efforts to help "reopen the sky"?

Mr. Johnathan Hanh Nguyen: This year also marks the 40th anniversary of my special assignment for my homeland. At that time, in 1985, I was working as a financial inspector for Boeing in the United States and Vietnam was still under an embargo. I unexpectedly received a call from the Vietnamese Representative Office at the United Nations, inviting me to visit my family.

The first trip back made me worry a lot. At that time, the country was still facing many difficulties, especially the shortage of medicine. Not long after, I accepted an invitation to return for the second time. With deep affection for my homeland, and with the wholehearted support of my family, I decided to return home and went to Hanoi to meet with the leaders of the Party and State. There, I was asked to support the opening of an air route between Vietnam and the Philippines.

Thanks to the support of the State, Government and agencies, along with special personal relationships in the Philippines, I was able to obtain a flying license.

The initial period was very difficult. The incoming planes were always full of cargo, but the return flights were almost empty. The more we flew, the more we lost. However, I understood that maintaining the route at that time was of great significance to the integration and development of the country. Therefore, I accepted the loss to maintain the route, until I could transfer it to Vietnam Airlines after the aviation agreement between the two countries was signed.

Right after contributing to the opening of international flights, what did you do to help build and develop the country?

Mr. Johnathan Hanh Nguyen : I invest heavily in developing aviation infrastructure, especially airport service systems. Through IPPG, I have cooperated with many units such as DFS, Sasco, Autogrill to build a chain of duty-free stores and non-aviation retail services at major airports such as Tan Son Nhat, Noi Bai, Cam Ranh.

Thanks to these investments, Vietnam’s airports are not only transport hubs but also shopping destinations for international visitors, helping to increase non-transport revenue and improve passenger experience. Not only stopping at the aviation sector, I also expand into production and tourism to create jobs and circulate cash flow in society.

Financial center elevates Vietnam's position on the global economic map

In the current context where the private sector is considered the most important driving force of the economy, what advice and recommendations do you have for Ho Chi Minh City and the whole country to develop strongly?

Mr. Johnathan Hanh Nguyen : Looking back on my 40-year journey with my homeland, I realize that Ho Chi Minh City has risen to become the most dynamic city in Vietnam. Key projects such as Metro Line 1 (Ben Thanh - Suoi Tien) are contributing to creating the appearance of a civilized and modern city.

I believe that the development of the Financial Center (FIC), including the International Financial Center located in Ho Chi Minh City, and the promotion of high-quality Trade and Services are two important driving forces for the development of the City and the country in the coming time.

Regarding the development of the Financial Center, I am very happy that I have previously proposed this issue to the authorities at all levels and now in the new context, when the private sector is considered the most important driving force of the economy, the construction of the Financial Center is receiving great attention from the Party and Government leaders. Currently, ministries, departments and branches from the City to the Central have participated in giving comments on the project. I hope that the Financial Center will be implemented soon.

In my opinion, building an international financial center in Vietnam is a long-term strategy of great significance, not only to attract financial resources but also to elevate Vietnam's position on the global economic map.

A financial center will help increase efficiency and allocate financial resources. Currently, Vietnam has a good foundation with a developing banking system and financial market. However, concentrating financial tasks in a large center will create better connections between domestic and international capital sources. This will improve the ability to mobilize capital for important projects, contributing to accelerating economic development.

By building a transparent investment environment, clear legal framework and modern infrastructure, Vietnam can become an ideal destination for international financial corporations and investors. This not only brings abundant capital but also promotes the transfer of advanced financial technology and knowledge to the Vietnamese economy.

In the context of increasingly fierce regional competition, having an international financial center will help Vietnam affirm its role and position in the global economic network, thereby expanding international cooperation opportunities and participating more deeply in international financial organizations.

Key projects, such as metro line 1 (Ben Thanh - Suoi Tien), are contributing to creating the appearance of a civilized and modern Ho Chi Minh City.

What about promoting the development of high-quality trade services, sir?

Mr. Johnathan Hanh Nguyen : Ho Chi Minh City and the whole country need to have preferential policies and create conditions for businesses to develop duty-free zones, including factory outlets (selling genuine, seasonal products at low prices), branded shopping centers and duty-free stores.

This will be the attraction of Vietnam's tourism industry. Currently, tourists come mainly to visit, take photos, eat and drink with an average spending of only about 300 USD/person, much lower than the target of 1,000 USD/person. In fact, Vietnamese tourists are flocking to factory outlets in other countries, especially those in Southeast Asia, to shop. I regret that we have not yet taken advantage of this opportunity, while Ho Chi Minh City, the largest tourist center in the country, lacks large-scale shopping centers. If tourists' shopping needs are well met, the city's tourism industry revenue can increase by tens of billions of USD.

I also propose that Ho Chi Minh City improve its logistics capacity by improving Cat Lai port and investing in building a green logistics system (automated warehouses, clean energy) to enhance competitiveness for export goods and meet the supply needs of key shopping areas. Along with that, developing Data Centers also helps Ho Chi Minh City attract large technology corporations and contribute positively to national economic growth, so that the City can become the leading data center in the region.

Ho Chi Minh City needs to aim to become the leading destination and shopping center in the region.

The best opportunity for overseas Vietnamese to return to do business in Vietnam

As someone who has returned to his homeland and has made many contributions to the country as well as achieved success in business over the past 40 years, what message do you have for overseas Vietnamese?

Mr. Johnathan Hanh Nguyen : Over the past time, with a strategic vision, the Government has continuously improved and issued new policies, especially in the fields of investment, education and science and technology. Thanks to that, the investment environment has been significantly improved, creating favorable mechanisms, not only attracting capital but also the return of knowledge, experience and creativity from the Vietnamese community abroad.

Having spent many years investing and doing business in Vietnam, I realize that now is the best opportunity for overseas Vietnamese to return to do business in Vietnam, especially in the context that the Party, State and Government, headed by General Secretary To Lam, are strongly promoting administrative reform, creating new momentum for the development of the nation. In particular, it is determined that the private economy plays an important role and is the most important driving force for the development of the country in the coming time, the era of national development.

In Ho Chi Minh City, there are currently nearly 100 start-up companies and many venture capital funds of young overseas Vietnamese, most of whom are from the United States. In order to develop the capabilities of young overseas Vietnamese and take advantage of new technologies, I suggest that the Government should apply a sandbox mechanism (allowing testing of new technologies and new business models without requiring many licenses).

In 2024, remittances to Vietnam will reach about 16 billion USD, of which 9.6 billion USD will be in Ho Chi Minh City alone, an increase of about 140 million USD compared to 2023. Remittances to Ho Chi Minh City have always grown over the years, continuing to be put into production, business and consumption activities. This is an important resource to help promote the economic development of Ho Chi Minh City and the whole country.

Le Anh (performed)

Continued: Part 2: The desire to reach far from overseas Vietnamese

Source: https://baochinhphu.vn/dau-an-kieu-bao-trong-su-phat-trien-cua-tphcm-va-ca-nuoc-102250408141631179.htm