Family businesses aspire after development of next generations hinh anh 1Participants at the workshop (Photo: VNA)

HCM City (VNA) –
Developing the next generations of leaders is the desire of many family businesses in Vietnam, heard a workshop held in Ho Chi Minh City on August 7.

The event was co-organised by the Leading Business Club and Mentally Fit Global group.

In addition, family businesses also want to approach simple business administration tools which have applied successfully in multinational groups and age-old family companies around the world, participants heard.

Vietnam is now one of the most attractive investment destinations in Asia, experts said, adding that local family businesses need to map out plans to enable their next generations to develop production and business activities as well as lure investment and build strong Vietnamese brands.

Tran Uyen Phuong, Deputy General Director of Tan Hiep Phat Beverage Group, said the conflict of business management mindset is an inevitable problem in family businesses. 

It would be difficult to find similarities in business strategies without increasing exchanges between family members, she added.

Representatives of some family businesses and private firms shared that they are concerned about building management and legal systems, business culture and value chain to create a firm foundation for their companies’ sustainable development.

A good administration system not only helps businesses survive but also creates a platform for the next generations of leaders to promote their capacity and expand investment activities, experts said.-VNA