Interview
In conversation with a modern-day hero of Vietnam (part 3)
Aviation as the central element in the chain
Vietnam’s wider tourism, travel, retail and related business sectors are anchored by a common component, Nguyen emphasises. Aviation. “You cannot break the chain,” he says. The thinking – evidenced by the myriad documents on the boardroom table in front of us – is to create a seamless aviation, travel, tourism and financial ecosystem, one that will bring benefits not just to the big cities such as Hanoi, Ho Chi Minh City and Da Nang but to the whole of Vietnam.
Most of the mega projects IPP Group is working on are linked to tourism, already critical to the country’s earnings but potentially far more so in future. “All countries, whether rich or not, are looking for tourists,” Nguyen says. “Vietnam has many attractions for them, from Ha Long Bay to the north, which is beautiful; to Da Nang or Phú Quốc with their famous resorts; or Ho Chi Minh City with its renowned attractions.”
But that’s not enough, he emphasises, returning to his earlier theme of giving international tourists the additional facilities they desire and can readily find elsewhere in Asia.
Prime among them are casinos, permitted in the country for international visitors and qualifying Vietnamese since 2017. International visitors also want high-class downtown duty free along the lines offered by DFS, Lotte Duty Free and The Shilla Duty Free in other markets, Nguyen adds.
IPP Group has embarked on a range of hugely ambitious tourism-related projects across Vietnam
Developing mega projects and why 2+2 is not 4
Vietnam must be able to match, perhaps exceed, the quality of tourist offerings abroad, he insists. VAT refund systems for tourists; a Hainan-style offshore duty free model; smart cities; an international finance centre; theme parks and hugely ambitious mixed-leisure developments all number among IPPG’s project plans. In short, let Vietnam get its fair share of the tourist dollar in Asia and wider foreign investment.
“Look at Hainan, that’s what I want to develop here. Hainan has exploded,” Nguyen says. “I assure you that Vietnam can become like this. Our dream is that Vietnam becomes the Asia tiger and we are working hard to make our dream come true.”
Johnathan Nguyen’s confidence is based partly on natural instinct but also partly on history. “I believe my dream will come true because as a young man of 34 years old I opened the door for Vietnam. Who could have believed that? And after 37 more years, we have 45 projects here to develop.”
The multiple IPP Group projects, such as this premium outlet development on Phú Quốc island, focus on the broader travel ecosystem
Johnathan Nguyen may be into his 70s but he still thinks as innovatively as that young man of 34. He talks insightfully, for example, of the role that Al (artificial intelligence) must play in Vietnam’s future, arguing that the country must lead, not follow, the charge with such contemporary technology.
Fifty years ago, Vietnam was a poor farming country, he points out, with an agricultural economy based on rice-growing. Today it is an emerging technological nation but one that must move faster to catch up with the world’s trends. “The next generation will know Al, adopt Al, and work with Al. We must get ready for Vietnam to catch up faster with other countries. That is my aspiration today. We must go faster. What is two plus two? Four? No, two plus two is 22.”
He chuckles as he says it, the kind of calculation that excites someone who pledges to always deliver on his words and his dreams. The boardroom and his office next door, crammed with awards from the state, government, ministries, industries, and leading international partners, bear testament to the enormous influence, impact and imagination of a man who helped open up Vietnam to the world nearly four decades ago and has never stopped serving it ever since.
(Above and below) The premium outlet project will bring much-needed tourism spending to Phú Quốc island and create many employment opportunities
Selected IPP Group proposal projects
Phú Quốc Free Trade Zone: A mega project on a beautiful island in the Gulf of Thailand, 45km from the southern tip of Mainland Vietnam. Viewed as a key resort market of the future, Phú Quốc has already seen major infrastructure developments, including a cable car, luxury resorts, casinos and other mixed-leisure developments.
IPPG plans to create a 101-hectare smart city, healthy city and theme park with a focus on sustainable development, ecological tourism, wellness tourism, medical tourism and digital transformation. It will feature a vast premium outlet shopping centre and an integrated resort, hotel and casino; plus an entertainment complex, night market, and healing resort.
Da Nang Hillside Zone and Hillview Duty-Free Smart City: Another hugely ambitious project to be developed on an 850-hectare site. Described as “an international smart, one-stop destination defined by nature for wellness, retail, and leisure experiences”.
Five Peaks Resorts, Da Nang: A casino project inspired by the region’s five towering limestone peaks, each named after one of the elements.
Da Nang Financial Center: Designed as a place of choice for entrepreneurs and cutting-edge technologies, the development will offer a state-of-the-art modern financial trading floor. Hotels, restaurants, branded apartments, and office towers will complement the facility, which will also feature a world-class shopping district. A vibrant community feel will focus on art, design and events.
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The Moodie Davitt eZine Issue 316 | 31 October 2022
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