Bamboo Capital Group (BCG) will prioritize empowerment of talented young leaders this year and continue improving operational efficiency, said vice chairman Pham Minh Tuan.
A combination of talented young people and the experience of founding members and the board of directors will create new vitality and greater momentum to move BCG forward quickly, he added.
Reviewing last year’s performance, Tuan said the group had stayed steadfast on core business operations of the parent company and achieved very positive results in the finance-insurance and pharmaceutical segments.
The management was satisfied with results of efforts to build a strong team of middle and senior executives with all the qualities, talents and experience to manage and develop large projects that the group is about to deploy.
“High-quality workforce is the most valuable resource that creates competitive advantages for businesses today. It is impossible to retain talented people if you do not trust or empower them,” Tuan said.
He said the year’s priority tasks will first be carried out at the parent company, Bamboo Capital. The group's key executives will gradually be appointed to its board of directors to manage and devise strategies; and a clear corridor created for young leaders to directly manage and develop investment projects.
At present, some of the group's leaders are still directly managing subsidiaries that carry out core businesses. Tuan himself is in charge of the renewable energy subsidiary (BCG Energy) while Nguyen Thanh Hung – vice chairman of BCG’s board of directors – continues to be in charge of the real estate subsidiary (BCG Land).
At other subsidiaries, the group’s executive board is gradually being rejuvenated by middle and senior leaders who have been trained by BCG over the years, Tuan said.
Stressing the importance of perfecting the governance model and training the next generation of leaders, Tuan commented: “Bamboo Capital Group will be many times larger in scale in 2024 than when it was established in 2011.
The group's operations with thousands of employees have reached the point where it is necessary to shift from a model of dependence on a few people to a professional management model, promoting decentralization and an effective control and monitoring mechanism.
“For Bamboo Capital to develop sustainably, it needs a combination of the experience of the board of directors and the enthusiasm of its young middle and senior leadership cadre.”
Established just 12 years ago, BCG is considered a youthful company. Most of the top leadership were born in the late 1970s, but it was already adopting a long-term strategy.
“The group’s sitting leaders are still full of enthusiasm and desire, the first day when group chairman Nguyen Ho Nam and we started the business. But we cannot afford to wait for ‘old bamboo to age and shoots to grow’. It will be a bit too late. We believe that for a large-scale multi-industry corporation, ‘the bamboo shoots should grow before older bamboos get old.’
“Once the business has sufficiently accumulated its internal resources, it will grow at an extremely fast pace and to keep up with this, preparing and training the next generation of leaders is crucial. Only then can an organization operate effectively and enjoy sustainable success.”
Since its establishment in 2011, Bamboo Capital has times restructured its business model and management model several times. Since 2023, it has been focusing on streamlining the apparatus, perfecting the corporate governance model to adapt to changing market conditions and optimize the group's internal resources.
Tuan expressed confidence with the middle and senior leaders that the group has trained.
“From the first days of establishment, BCG has oriented itself to build an open corporate culture, and made human resource linkages the focus for business development. We have focused on building a corporate culture for employees and styled our management accordingly.”
The core values of BCG people include ethics, discipline, enthusiasm, careful listening, respect and fair treatment, Tuan said.
“In our 12 years, we have gone through many ups and downs. Especially in recent years, in the context of the Covid-19 pandemic and economic challenges in the world as well as Vietnam, BCG has experienced many difficulties and it is amidst these challenges that we have forged a new generation of middle and senior leaders who are capable, ethical, enthusiastic, both at the parent company as well as its subsidiaries.
“While 2024 will continue to present challenges and difficulties, group is confident that it has a management team that’s ‘gold tested in fire.’”