Thermtrol & Vietnam Partnership
Although Thermtrol Vietnam has only been in operation since 2003, the company has already impacted the lives of many Vietnamese citizens. In terms of the Vietnamese workforce, Thermtrol has trained many managers and skilled workers, giving them advantages as their careers progress.
As part of the Vietnam Singapore Industrial Park, Thermtrol has had the opportunity to donate to projects that have benefited hundreds of people. With an annual Charity Day’s celebration, Thermtrol began making its mark philanthropically in Vietnam. Being a part of the VSIP community, we were given the opportunity to give back by helping to build a library and from there we were able to help build a school in the Tan Uyen district of Vietnam. We supplemented the school with further donations for a water treatment system, a playground, a library within the school, nutritional programs for the children, and scholarship programs.
When outsourcing first became a byword among business owners, countries in Southeast Asia have become a major player in the industry. One such area which has benefited from the influx of clients from other parts of the world outsourcing their tasks, jobs and projects is Ho Chi Minh City, Vietnam.
Called the Diamond of the Far-east with the luxury level overriding that of Hong Kong or Bangkok, Ho Chi Minh City is now the most populated city in Vietnam, with over 8 million residents. While Hanoi is the center of government, Ho Chi Minh City is the nation’s most exciting city and economic heart. Modern office skyscrapers, amidst Chinese style pagodas and food stalls along the street, create a dynamic urban area in very special sense. All the accoutrements of economic revival – fine restaurants, flash hotels, glitzy bars and clubs, and shops selling imported luxury goods – are here. It is not only a commercial center but also a scientific, technological, industrial and tourist center for the country.
Thompson, Douglas. "Ho Chi Minh City." Vietnam. N.p., n.d. Web. 23 July 2013.
"Vietnam Outsourcing Portal." Vietnam Outsourcing Portal. N.p., n.d. Web. 23 July 2013.
When expanding Thermtrol’s manufacturing capabilities, Vietnam was chosen as the perfect location for many reasons. Vietnam brings to the table a well-educated and stable work force with an incredible work ethic and is among the lowest labor cost centers in the world. The import/export infrastructure is streamlined to include customs clearance within the Vietnam-Singapore Industrial Park, with its port approximately 5 kilometers away from the factory. Some other enticing benefits included Vietnam’s streamlined process for acquiring business licenses, English as the official second language, and the USD as the official second currency.
“The Vietnam government has created a very business friendly environment and the people are very energetic and well educated. We have now just completed our 10th year in Vietnam and are as excited to be here now as the day we began,” says Thermtrol President/CEO and founder Mark Jeffries.
The Vietnam Singapore Industrial Park
The Vietnam Singapore Industrial Park (VSIP) is a world-class industrial park that was initiated by the Governments of Vietnam and Singapore. VSIP has become the leading industrial park in Vietnam, and has proven to be a very attractive investment destination, technology transfer and environment protection for many multinational companies for the domestic as well as export markets.
"The success of VSIP is based on three principal factors. First, VSIP offers a healthy economic and attractive investment environment on the part of the host country. Another advantage is its good location with favorable conditions and quality of competitiveness on the side of the industrial park itself. The third factor is its transparent and liberal framework, i.e. the local management. At VSIP, we are guided to manage the zone under a "One- Stop-Service" principle," shared Nguyen Phu Thinh, the general director of VSIP.
With the latest project in the city of Hai Phong, VSIP has totally established four industrial park and township complexes in Vietnam with the combined area of more than 4,845ha, attracting a huge amount of investment capital flowing into the areas and generating jobs for thousands of employees.
With these achievements, VSIP has become the symbol of cooperation between Vietnam and Singapore. To enhance this honor and to achieve sustainable development, all VSIPs are developed to become people-centered, environmentally-friendly integrated townships that are the preferred choice of all - a place to live, learn, work and play. VSIP is also committed to be a leading township and industrial park complex in Vietnam, providing an operating environment conducive to success.
"VSIP - VIETNAM SINGAPORE INDUSTRIAL PARK." VSIP - VIETNAM SINGAPORE INDUSTRIAL PARK. N.p., n.d. Web. 23 July 2013.