Four companies recognized as best managed in 2024

Pham Nguyen Confectionery Company has become the first business to receive the Gold Standard Certification. This recognition is awarded to companies that have consistently appeared on the best-managed companies list for four consecutive years.

While many companies are struggling with succession planning, Pham Nguyen is led by the second generation, who are young, creative, and willing to take risks, driving significant development.

Pham Nguyen is also the first Vietnamese company to join the community of best-managed companies achieving Gold Standard Certification in Southeast Asia. This provides the company with an opportunity to connect with other highly efficient companies in the region to share deep insights and best practices.

In addition, Nhat Tin Investment and Development Trading Joint Stock Company; OnPoint; and Lotus Group Joint Stock Company have been recognized by Deloitte for the first time.

OnPoint is a company that provides e-commerce support services in Vietnam, specializing in helping brands manage and grow their online sales channels through comprehensive solutions ranging from marketing to logistics. By focusing on creating real value through the continuous development of sustainable solutions, OnPoint secured a $50 million investment from SeaTown Private Capital Master Fund in its Series B round in 2022, following previous investments from KIIC and Genesia Ventures.

As one of the leading suppliers and distributors of high-quality Japanese standard products and services in Vietnam for over 25 years, Lotus Group, under the leadership of Le Van May, has grown strongly and sustainably.

Lotus Group aims to distill and apply the essence of Japanese service values and bring happiness to its team and customers. The company focuses on building corporate culture through L.O.T.U.S (Love, Open, Trust, Upward, Sincere).

Founded in 2014, Nhat Tin Logistics has grown to more than 300 post offices nationwide, operates two sorting centers covering over 20,000 square meters, has achieved ISO 9001:2015 certification, and increased its on-time delivery rate by 10 per cent by integrating modern technology and enhancing customer experience.

Best managed companies focus on 4 core values

Established in 1991, the Best Managed Companies Award has now been presented in over 40 countries. In Vietnam, the award has been implemented for the fourth year by Deloitte Private to honor private companies with strong management systems and connect them with over 1,000 other well-managed companies worldwide.

Companies are evaluated based on four criteria: business strategy, corporate culture and commitment, competitiveness and innovation, and corporate governance and financials.

Pham Van Thinh, CEO of Deloitte Vietnam, said that most companies initially set the primary goal of making money. However, to operate and develop sustainably, companies need to focus on all aspects of their operations. Corporate governance has been increasingly discussed over the past decade.

"I believe that all companies have the same foundations, but moving from good to great requires internal strength," Thinh said at the award ceremony held in Ho Chi Minh City.

Offering advice to the recognized companies, the Deloitte leader emphasized that being recognized does not mean everything is perfect. Vietnamese companies are still quite far from global best practices, so there is plenty of room for improvement and development