#09 | Hoa Binh Construction Group: Core competencies are the key to the future


#09 | Hoa Binh Construction Group: Core competencies are the key to the future

Hoa Binh Construction Group: Core competencies are the key to the future

A new generation is gradually accepting the transfer and promotion of newer powers, moderner, and closer to international trends. “Two generations – one vision – two ways” will be the story of INNOVATION in episode 9 The Next Power.

This week,  explore the stories of two generations this week with The Next Power: Mr Le Viet Hai – Chairman of the Board of Hoa Binh Construction Group and Le Viet Hieu – CEO of Hoa Binh Construction Group.

hoa binh construction grou

Two generations – One vision that brings Hoa Binh Group to the world

The only Vietnamese construction group that has been nominated as “National Brand” 7 times in a row, with a presence in all provinces and 4 countries, is the one and only Hoa Binh Construction Group.

This week, The Next Power talk show will discover two faces of “like father like son”: Le Viet Hai – Chairman of the Board of Hoa Binh Construction Group and Le Viet Hieu – CEO of the company.

Le Viet Hai – A pioneer in elevating Vietnam’s construction industry to a global scale.

Hoa Binh Construction Group

Le Viet Hai graduated from Ho Chi Minh City University of Architecture. In 1989, he established Hoa Binh Construction Office with 20 employees and mainly received design and construction of private housing projects.

In 2000, Hoa Binh Construction Office officially changed its name to Hoa Binh Construction & Real Estate Trading Joint Stock Company 

Hoa Binh Construction Group is known through many large-scale construction projects such as: Saigon Center Phase 2, The Ascent Condominiums, Estella Heights, the expansion project of T2 Tan Son Nhat International Terminal and Hospital An Giang Center General Hospital, Cocobay Danang Tourism and Entertainment Complex…

Not only at the domestic market, “Captain” Le Viet Hai has led Hoa Binh to go to foreign markets such as Australia, Malaysia… With his unceasing dedication, he was honored as “Pioneer in bringing Hoa Binh to foreign markets”. Vietnam’s construction industry reaches the international level” and twice received the title of “The Entrepreneurial Courage”.

Le Viet Hieu – The next talented generation 


At the end of November 2020, Hoa Binh Construction Group had a “generation transfer” event, welcoming the new CEO, Le Viet Hieu. This 9X CEO is also the youngest senior leader of the Group. Mr. Hieu studied Bachelor of Business Administration at California Polytechnic University before returning to Vietnam to continue the family business.

After that, Mr. Le Viet Hieu had 2 years of experience working as a Corporate Credit Officer, Shinhan Bank Vietnam Ltd.

Before assuming the senior leadership position, he used to be Le Viet Hieu as Director of International Market Development and Deputy General Director of External Relations – North Region at Hoa Binh Construction Group. After 1 year of generation transfer, Hoa Binh Group has made progress despite the “storm” of the market. The Group has won about 10,000 billion VND of bid value, compared to the total plan in 2021 of 14,000 billion VND.

Two generations – an innovative and new strategy in volatility

Mr. Le Viet Hieu, then 28 years old, officially received the management rights of Hoa Binh Group, nearly 35 years old, from his father Le Viet Hai, and deployed the restructuring process to find new strength – The Next Power of the group right in the middle of the storm, transforming Hoa Binh into the largest construction contractor by market capitalization on the Vietnamese stock market by the end of 2021.

Le Viet Hai, the company’s founder, stated that the company was fortunate to have been able to make the transition in time to gain experience during the first two difficult years, when the market declined due to numerous fluctuations. The innovation of the economy and the realization of its global competitiveness goals.

Transfer of generations during a period of comprehensive reorganization

During the most recent restructuring of the group, Le Viet Hieu has simplified from senior management, then to departments and employees. A number of deputy generals and departments were removed or added, reducing the procedure for submitting comments as well as cooperating with each other more openly.

The leadership approach that makes this CEO’s mark is “leader by question” to work towards the solution, the next steps of the problem and giving everyone the opportunity to contribute.

On the other hand, when a new goal comes out from the board of directors, the CEO’s implementation style is “cross-checking”, “taking careful steps” to get a high consensus.

“Must possess our own technology and financial capability to go international”

“In the future, if we want to have real and sustainable competitive advantages, we must aim for higher values,” CEOLe Viet Hieu said at The Next Power. “We have to have our own materials and technology.”

The two leaders said that in order to be truly competitive, the corporation had to solve three problems, including: Financial capacity to be able to expand to foreign markets, improving the skills and foreign language proficiency of the human resources and connect the construction industry ecosystem such as overseas materials and subcontractors.

Hoa Binh is making plans to increase the value it generates through innovative endeavors. One of the most recent “constructive” actions of the group is to invest 900 billion in the Hoa Binh Innovation Center.

This center has the goal of creating conditions for companies in the construction, mechanical, industrial, manufacturing, etc. to have a space to cooperate, share specialized information as well as form a development environment with new ideas, product samples. At the same time, the center also helps to attract international investors for this field in Vietnam.

With innovative efforts, Hoa Binh Group is achieving its “ambition” to conquer the international market.

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