His early endeavours included the successful amalgamation of Dong Phuong Bank and Thanh Thang Bank in 2001, a significant milestone in his career. Looking ahead, Thanh anticipates 2024 to be a watershed year for M&A activities.
"In a thriving and open economy like Vietnam's, well-managed M&A processes can unlock tremendous opportunities," Thanh explained.
He emphasised the importance of seizing these opportunities in a post-pandemic world marked by both challenges and potential. He highlighted the dual benefits of M&As, for both buyers and sellers, stressing timing as a critical factor.
"The seller must recognise the peak moment to showcase their strength, while the buyer should view M&As as a strategic move to expand at the right time," he stated.
This approach, according to Thanh, requires courage and a willingness to embrace the inherent risks and rewards.
Thanh shared his philosophy, "As entrepreneurs, our aspirations always lead our strategy. At TTC, this has meant harnessing the power of M&As to fulfil our ambitions over our 44-year history."
This strategy has not only driven TTC's growth but also positioned it as a leader in Vietnam's business landscape.
Recounting a key experience from 2010, Thanh reminisced about his interactions with the chairman of Bourbon Group. The French conglomerate sought a passionate successor for Bourbon Tay Ninh, Vietnam's largest sugar mill.
"The chairman of Bourbon was committed to finding someone who shared his dedication to the local farming community. His desire to entrust this legacy to a company like TTC was both humbling and inspiring," Thanh shared.
He believes that responsible entrepreneurs should actively seek collaborations when they sense limited scope for individual growth, viewing M&As as a growth catalyst from a buyer's perspective.
"In an ever-changing market like 2024's, the ability to quickly identify and capitalise on these opportunities is crucial," Thanh advised, indicating the potential for diverse stakeholder arrangements in such deals.
However, he underscored the importance of cultural integration post-M&A by saying, "The true challenge lies in merging the cultures of two distinct entities. At TTC, we focus on preparing our employees for this transition, ensuring a harmonious and productive integration."