DEVELOPING BUSINESS STRATEGY OF VINACONEX – ALPHANAM INFRASTRUCTURE DEVELOPMENT AND INVESTMENT JSCThe situation of bisuniess strategy management of Vinaconex Vision, mission, and values of strategic managementApproaches to strategic managementThe first stage: Internal development The middle stage: Focus on the organization of the industryStrategy formulation Mission and main objectivesExternal environment analysisMacro environment analysisIndustry and competition analysisThe model of 5 competitive forcesStrategic groups in an industry
LUẬN VĂN PHÁT TRIỂN CHIẾN LƯỢC KINH DOANH CỦA CÔNG TY VINACONEX - APHANAM THESIS DEVELOPING BUSINESS STRATEGY OF VINACONEX – ALPHANAM INFRASTRUCTURE DEVELOPMENT AND INVESTMENT JSC” LIST OF CHARTS, DIAGRAMS AND TABLES Chart 1.1: Strategic management model Table 1.1.: Macroeconomic environment factors Figure 1.2: Strategic group map Table 1.2: Organizational, technical, human, physical, financial resources Table 1.3: Summary of choices suitable for each strategy among the three mentioned strategies Chart 1.3: Stakeholders Diagram 2.1: Organizational structure of Vinaconex - Alphanam Corporation Table 2.1: Balance sheet of VINA – ALPHA year 2008 Table 2.2: Completed projects of VINA – ALPHA Company Table 2.3: Business operation result of VINA – AlPHA Company in the 2006-2008 period Diagram 2.2: Revenue and profit growth diagram of VINA – ALPHA Company Table 2.4: The internal factor assessment matrix Table 2.5: Revenue and profit of construction enterprises Diagram 2.3: Comparison of revenue of companies in 2006- 2008 Table 2.6: Comparison of profit per revenue of enterprises Diagram 2.4: Comparison of profit per revenue of companies in 2006-2008 Table 2.7: Competitive analysis of construction enterprises Chart 2.5: The role of the Board of Execution in project Chart 2.6: Two level Board of Management Table 3.1: SWOT analysis Table 3.2: Classification of priority strategies in SWOT matrix GRATITUDE Period of time researching and reality studying at Vinaconex – Alphanam JSC is helping us to understand a part of company’s business activity, especially business planning It also help us to have chance to apply school’s knowledge to reality We hope that our solutions might help increasing the effective of company’s business planning in the near future Our team would like to express our gratitude to the Board of Directors, staff of Sales Dept, Administration, Finance and Accounting, and other departments at Vinaconex – Alphanam JSC., who were helping us to complete our thesis We also thank teachers, who were providing us valuable knowledge, skills and experiences with their whole-hearted Thank to Center for Educational Technology and Career Development (ETC Center) who give us a chance to working together, sharing our job experience However, due to shortage of studying time and reality knowledge, mistake and shortcoming is unavoidable We are looking for our teacher and classmate’s advise and suggestions to improve our performance Thank you very much REFERENCE Number Content Gratitude Introduction Chapter I: Theoretical background on strategic managemenr I The definition of strategic management Definition Approaches to strategic management 2.1 The first stage: Internal development 2.2 The middle stage: Focus on the organization of the industry Strategy formulation 3.1 Mission and main objectives 3.2 External environment analysis 3.2.1 Macro environment analysis 3.2.2 Industry and competition analysis 3.2.2.1 The model of competitive forces 3.2.2.2 Strategic groups in an industry 3.3 Enterprises’ internal analysis 3.3.1 Analyzing company’s current strategy 3.3.2 Potential resources and capacities 3.4 Selecting business strategy 3.4.1 Cost leadership strategy 3.4.2 Differentiation strategy 3.4.3 Focus strategy II Vision, mission, and values of strategic management III Implementation, monitoring and evaluation Chapter II: The situation of bisuniess strategy management of Vinaconex – Alphanam Infrastructure Development and Investment Joint stock Company I General Information Page 10 10 10 10 10 12 13 14 15 16 18 18 22 23 24 24 26 26 27 28 29 30 33 33 3.1 3.2 3.3 4.1 4.2 4.3 II 1.1 1.2 1.3 2.1 2.2 2.2.1 2.2.2 2.3 3.1 3.2 3.3 3.4 3.5 III 1.2 1.2 1.3 Major businesses Organizational structure of Vinaconex - Alphanam Company Company Structure Characteristics of the company Products Market Quality of Human resources Business operation results Balance sheet Completed and ongoing projects Assessment on business activities Sector environment assessment and analysis Formulating and managing strategy Business Strategy Strategy formulating Strategic management External environment analysis International environment National economic market (Macro-economic market) Impacts of Various Economic factors Legal factors and state economic management Industry environment analysis Analysis on inner industry environment (5 competitive forces) Threats from new entries The power of the suppliers Buyers’ bargaining power Threats from Substitutes Intensity of the rivalry in the industry The business strategy of Vinaconex – Alphanam Company on the stagr 2010 – 2015 The strategy foundation Brand: Ability to control and coordinate input resources for the enterprise’s main business and production process Financial strength 33 34 35 35 36 37 37 37 38 38 40 40 40 41 41 41 41 43 43 44 45 50 50 51 52 53 54 56 56 57 57 58 2.1 2.2 I II III 1.1 1.2 1.3 2.1 2.2 2.3 3.1 3.2 4.1 4.2 5.1 5.2 6.1 6.1.1 Building business strategy for VINA-ALPHA: Long term strategy: Short-term strategy, period 2010-2015: Market, market share strategy Product strategy: CHAPTER III: Solutions to improve the business stratrgy of Vinaconex - Alphanam I Development orientation of the company II, Completation of Company’s commitment and strategy Vina – Alpha company’s strategic solutions Complete administration system, give prominence to the role of functional departments, train and improve the quality of human resource management Foundation of the solution Solution Implementation approach Training and improving the quality of human resources Foundation of the solution Content of the solution Implementation approaches Investing in equipment, improving production and construction capacity Foundation of the solution Content of the solution Improve the quality monitoring and control system Foundation of the solution Content of the solution Further investing in research and applying science and technology into practical construction works 5.1 Foundation of the solution 5.2 Content of the solution Solutions for the market Actively integrating into the process of international business, seeking for suitable partners Foundation of the solution 59 59 62 62 63 72 72 77 78 78 78 79 80 80 80 80 81 81 81 82 82 82 83 83 83 83 84 84 84 6.1.2 6.2 6.2.1 6.2.2 V Content of the solution Investing in equipment, improving management skills Foundation of the solution Content of the solution Building corporate culture Brand marketing Impletmentation process Conclusion Charts, diagrams 84 85 85 86 86 87 88 89 90 INTRODUCTION The globalization and international economic integration process has opened up considerable opportunities for member countries, including Vietnam This also brings about significant chances for Vietnamese enterprises However, this trend also poses challenges for Vietnamese enterprises Integration is an irreversible trend for development; however, in order to achieve sustainable development, enterprises need to assess the situation, prevent from potential risks and threats arising from a rapidly changing business environment A specific, practical short-term and long-term strategy is an effective measure for an enterprise to define its orientation in order to achieve sustainable development First, business strategy enables enterprises to define its objectives and orientation, and is considered the basis guiding all activities of the enterprise In a rapidly changing business environment, business strategy helps enterprises to grasp and fully utilize business opportunities, actively seek measures to overcome potential risks and threats In addition, a specific, clear and practical set of strategies is considered the basis for enterprises to improve effectiveness in resource usage, strengthen its competitiveness to ensure sustainable and continuous development Building and implementing strategies are also solid background for enterprises to make proper and effective decisions during business operation The construction field in recent years has witnessed rapid growth in order to meet the increasing demand of infrastructure for the national socio-economic development Therefore, competition in this sector is relatively harsh In this context, strategic planning and management activities play a very important role in the development of enterprises and are considered decisive factor to improve the competitiveness of an enterprise The most important task of civil construction and transportation construction enterprises is to define a long-term development orientation through a strategy that is proper and suitable with the external environment as well as the capacity and position of enterprises in its specific business environment This is the reason why I choose the topic “Developing business strategy for the 5-year period (2010-2015) of Vinaconex – Alphanam Infrastructure Development and Investment JSC” Research purpose: The research has the following research puposes: - Asses and analyze strengths and weaknesses of the enterprise - Analyze the impacts of business environment on the business operation of the enterprise, analyzing opportunities and threats for the enterprise - Analyse the current situation of developing and managing strategies at the enterprise Propose solutions and recommendations to enhance the effectiveness of developing and managing strategies at the enterprise Objects and scope of study: Objects: - The strategic development and management activities of the enterprise - Strengths, weaknesses, opportunities and threats of the enterprise Scope of study: - Vinaconex – Alphanam Infrastructure Development and Investment JSC (Vina – Alpha., JSC) - Address: No 02 Đai Co Viet, Hai Ba Trung Dist., Hanoi Research methodology: Collecting data: - Data from Vina – Alpha Company - Sectoral data and data from enterprises of the same sector - Data from newspapers and the internet Analysing data: - Applying data compilation and comparison method for mid-term data, planned data and actual implementation data to draw conclusions - Inductive method: Compiling and drawing conclusions from issues and phenomena arisen - SWOT analysis Structure of the study: The thesis includes three chapters as follows: Chapter 1: Theoretical background on strategic management Chapter 2: The situation of business strategic management at Vinaconex – Alphanam Infrastructure Development and Investment JSC Chapter 3: Measures to improve business strategies of Vina – Alpha Infrastructure Development and Investment JSC 10 III, VINA-ALPHA COMPANY’S STRATEGIC SOLUTIONS Through study and analysis of VINA-ALPHA business activities, pointing out opportunities as well as challenges of business environment, company’s weaknesses and strengths, it can be said that current situation of the company is relatively good with high growth However, there still exist problematic matters that need to be solved for company’s steady development After analyzing and selecting strategy by above SWOT analysis, I would like to recommend some highly feasible solutions to improve the efficiency of company’s business activity 1, Complete administration system, give prominence to the role of functional departments, train and improve the quality of human resource management 1.1 Foundation of the solution Administration system and functional departments hold the key role in a company’s department, especially in planning business strategies and drawing up development guidelines for company Competent and effective administration system and functional departments is a considerable competitive advantage of company On the other hand, although administration system and functional departments having excellent professional qualification, key leaderships having management experience, there remains some restraints, resulting in inefficiency, underemployment and weaknesses in co-operating 1.2 Solution The company should: Improve the administration system Complete administration system includes bring into play the capacity, activeness and creativeness in work of each position; improve the co-ordination in management and decision-making process • Bring into play the capacity, activeness and creativeness in work of each position: Improve professional qualification and management experience of key leaderships to meet increasing requirements of work The company leadership need constantly improve their abilities and learn management experience to have proper 78 awareness and assessments of environment changes, then making appropriate decisions Bring in to play the activeness of leadership in company’s general activities to reduce underemployment It is necessary to have clear job assignments among positions, avoid jobs overlapped or “nothing to do” situation • Restructure the system to improve co-ordination Whether the administration system is effective or not mostly depends on the coordination of different positions Therefore, it is crucial to improve the co-ordination in running the company to ensure having comprehensive information and help management decision-making Empower functional departments Functional departments are helpful tools of administration system in implementation of its ideas and plans The sharper these tools are, the more effective the system is Empower functional departments including: Improve the level and capacity of specialized staff Restructure functional activities Develop analysis system and design business plan based on the restructuring of information system, analyzing and predicting business environment, planning and previewing environment changes Improve information exchange and co-ordination of different functional departments, sub-business units and teams 1.3 Implementation approach - Send staff training courses to improve their professional Coordinate working positions to accumulate experience for individual and collective strength Establish an information system for the entire enterprise to provide information completely and continuously for the management of enterprise, as well as meet the coordination requirement between functional departments and unit members Use information from market research companies to supply information for forecasting activity, market analysis and business planning There should be supervision, evaluation of practice and adjustment of business plans to match the fluctuations of the market 79 Training and improving the quality of human resources 2.1 Foundation of the solution The quality of human resources plays an important role in the success of a company Training and improving the quality of human resources should be conducted regularly so that the staff can meet the demands of the job On the other hand, though the staff of the company are of high quality and are well trained, they lack experience, which becomes a barrier to the company’s improvement process 2.2 Content of the solution To improve the quality of its human resources, the company must well in both the training to improve the quality of present human resources and recruiting to meet work requirements With a current high quality and well-trained staff, the advanced training will be conducted primarily to help them accumulate experience However, it is necessary to raise the number of qualified staff at university level, especially the staff of the Technical Execution Department, Business-Planning Department to improve technical research and the building of business strategies and plans Develop the human resources Actively set up human resource planning for each period, and then work out the specific training plan Enhance professional level of the staff especially in the work of analyzing, forecasting the business environment and building business strategies - Train staff to be capable of exploiting important customers effectively Improve management capacity Recruit staffs that have management capability, implement the training to improve the professional and specialist skills and cultivating in terms of morality and politics to churn out the managers who are qualified and capable of judging and solving problems independently - Continue to improve the quality of the management staff available 80 Make full use of information technology in management in order to save time, manpower 2.3 Implementation approaches - Build long-term strategy to develop human resources for the company - Have plans to assign staff with training course to improve their expertise Continue checking up in order to improve human resource skill while simultaneously accumulate more experience for technical workers in the company Draw up specific job description timetable stating the position, role and responsibility for each individual’s job Assign tasks in accordance with ability and professional qualifications of each individual to realize the full strength of individual and collective strength Analyze and assess of the company's human resources in each period to build plan for personnel arrangements and recruitment Investing in equipment, improving production and construction capacity 3.1 Foundation of the solution Equipment and facilities are the important prerequisites in construction work, having a crucial impact on the capability of contractors and the quality of building projects The modern equipment also helps the company a lot in applying new techniques of construction, reducing costs and time of the execution To meet further development need, the company needs to improve the equipment’s capacity to be involved in many large-scale projects, empowering the enterprise 3.2 Content of the solution The development of science and technology has shortened the life cycle of the machinery and equipment Therefore, the company needs to consider carefully the needs and time to make decisions in investment to ensure efficiency The enterprise should invest in devices suitable for its needs and level of execution The match is shown at expenses, the number of construction techniques that 81 machinery can exploit and quality requirements of the construction projects on average that the company is executing The company needs to calculate and compare the costs and payback period of the equipment in detail before deciding to invest Operating mainly in the construction field, VINA - ALPHA should invest more in machinery and equipment to enhancing its capacity to develop further in the field of urban construction, the condominiums etc This is a promising potential market as the demand for accommodations is very huge Improve the quality monitoring and control system 4.1 Foundation of the solution Quality control system is indispensable to improve the quality of the building, meeting the requirements of customers and enhancing the competitiveness of the enterprise Constructions are always of great significance as they serve the needs of many people with huge capital and for long-term use Therefore, the quality is always extremely important; it affects the prestige of the company On the other hand, the construction quality is currently problematic many building projects in general So building a good quality monitoring and control system would be a huge competitive advantage for the company 4.2 Content of the solution Companies need to improve and enhance the quality of the supervision of executing construction: the building project has a great implicit value so supervision of the execution should be implemented continuously in the construction process, from designing through construction phases Only by doing this can the quality of the building be ensured Researching needs and establishing a separate quality control section for the projects, responsible for the quality of construction works Training quality management and supervision staff who are competent and have good professional ethics 82 Increasing the staff‘s awareness of the implementation of quality standards system ISO 9001:2000 Regularly inspecting, evaluating and adjusting the quality control activity at the company Applying new quality standards issued by the State management agencies to meet the requirements of the market Further investing in research and applying science and technology into practical construction works 5.1 Foundation of the solution Capacity of research and development, applying science and technology in production and business practices reflects the potential development of the company It will be the competitive advantage of the company, enabling the company to gain huge profit in their business activity 5.2 Content of the solution The company needs promote research and development of new techniques rather than just passively absorbing the techniques available, boldly invest in basic research Actively seeking and acquiring new technologies from foreign partners rather than from domestic companies that have applied them successfully Improving qualifications and competence of research staff Investing substantially in facilities and working conditions Solutions for the market 6.1 Actively integrating into the process of international business, seeking for suitable partners 6.1.1 Foundation of the solution The process of international economic integration is an inevitable trend of development, bringing new opportunities for the Vietnamese economy and businesses So, instead of standing out of it, VINA - ALPHA must actively participate in that process, take advantage of the opportunities brought about by this process, and actively prevent the risks that the business may encounter 83 6.1.2 Content of the solution Participating in the process of international economic integration is an indispensable and objective trend for the development process Therefore, the company needs to prepare the necessary conditions to participate in this process They are: Positively preparing conditions necessary for this process such as improving the quality of the functional operation in the company, the quality of the human resources, and application of new techniques in construction, improvement of building machinery capacity etc to enhance competitiveness internally Enhancing the competitiveness of the enterprise helps the company not only be able to compete with other large enterprises in its home market but also enable it to reach a platform to expand its market regionally and worldwide Advancing knowledge of the integration process, being aware of the impact of this process to the activities of the company, then evaluating and measuring the impact of these factors to the enterprise Finding information about the new emerging major competitors, assessing the strengths and weaknesses of these main rivals to have the appropriate competitive strategies Actively seeking information and participating in economic forums for construction firms to learn new technology and accumulate more knowledge about international economic activities The forums for companies in the construction industry in the ASEAN region is a good opportunity for businesses to learn and exchange experiences as well as enhance the capacity of construction, and is a good chance for the company looking for appropriate partners Actively seeking for and cooperating with enterprises as foreign potential suppliers and in accordance with the capacity of the company (they can be partners in science and technology or providers of other input factors) The search for partners to provide input factors stably and reliably can help enterprises be active in calculating business costs, applying measures to cut costs when necessary, improving competitiveness 84 Searching information about construction projects regionally and worldwide that Vietnamese enterprises can meet the requirements of technology and human resources The company should be associated with domestic companies to participate in the same works, enhancing capacity of building, in the mean time, gradually approaching the world market 6.2 Investing in equipment, improving management skills 6.2.1 Foundation of the solution Equipment and facilities are the important prerequisites in construction work, having a crucial impact on the capability of contractors and the quality of building projects The modern equipment also helps the company a lot in applying new techniques of construction, reducing costs and time of the execution To meet further development need, the company needs to improve the equipment’s capacity to be involved in many large-scale projects, empowering the enterprise 6.2.2 Content of the solution The development of science and technology has shortened the life cycle of the machinery and equipment Therefore, the company needs to consider carefully the needs to make decisions in investment to ensure efficiency - The enterprise should invest in devices suitable for its needs and level of execution The suitability is shown at cost and the number of construction techniques that machinery can exploit and quality requirements of the construction projects on average The company needs to calculate and compare the costs and return on investments of the equipment in detail 7, Building corporate culture People can be better off from the “zero” of capital, not ever from the “zero” of culture 85 In recent years, the concept of corporate culture is increasingly common in use Corporate culture has been referred to as a "criterion" of a successful business So what is corporate culture? Why should it be built? How to build a valuable corporate culture? An enterprise, especially large-scale enterprises, is a collection of people of different professional qualifications, level of academic performance, level of awareness, social relations, geographical regions, cultural ideologies etc These differences create a diverse and complex working environment and even conflicts In addition, with increasingly fierce competition in the market economy and the trend of globalization, firms that want to develop have to continuously look for innovative change to keep up with the reality How to turn enterprises into a place where gather and promote all human resources, where there is a link that can generate power to regulate, and affect (positively or negatively) various subjective and objective factors, exponentially increasing the value of each individual human resource to contribute to the sustainable development of the enterprise This requires the company to build and maintain a typical cultural structure, speed up the capacity and promote the contribution of all staff to achieve the common goal of the organization So, corporate culture is regarded as intangible asset of each enterprise It is in the intelligent and cultural foundation along with powerful unity that lies great ambitions and extraordinary energy that Vina - Alpha Company’s confidence in success 8, Brand marketing Every enterprise wants to create prestige for their brands They set out many different measures There are successful businesses, but also those that fail to make the brand go into their customers' mind At first, each firm must have a long-term business strategy and marketing program to promote appropriate products The prestige and hallmark of trademarks have to survive and occupy a position in the sub-consciousness of consumers In order for each product or service to obtain a foothold, the products must first be accepted by consumers and are classified as being worth of use 86 To be accepted by consumers, firstly, the product must be able to make consumers feel that they are "real" and "reliable" Those who understand the needs of their target customers and have the suitable and relevant products and services will quickly attract and win trust of customers If the marketing strategy is changed regularly, each time follows different content or objects, the company can hardly build sustainable relationships with their customers And now VINA - ALPHA are making huge effort to build Sakura brand through a series of works which we gradually introduce to the consumers A brand can not be recognized after just a short time It needs continuous development Only by the classic forms of advertising can enterprises reach their consumers Only when consumers have faith in the products they actively search for them To keep customers in the long run, enterprises need to convince and make an outstanding differentiation for the goods Can you have reputation like them? Can you have the ideal job like theirs? The answer is absolutely “yes”; however, this depends on your effort and requires a new way of thinking and new marketing strategies Although key success factors of different businesses are not the same, they all comply with the following six principles: - Setting objectives aiming at the best prospects - Developing a unique market structure - Orienting your business toward the best possible solutions - Maintaining your image - Boosting confidence - Asserting the brand and creating reputation V, IMPLEMENTATION PROCESS For the years strategy (2010-2015) of Vina-Alpha, for best use of advantage, position and characteristic of the company, we suggest the roadway as follow: 87 • In the period 2010-2013, define the target market is exploiting the Build up Process and create Sakura, a brand that’s newer, more professional, focus on knowing the need and the right of customer as the direction of every business • In the next period (2013-2015), target market is exploiting the Build Up Process Based on the existed customer, Vina-Alpha gain experience and relationship to develop an other market Vina-Alpha takes on the slogan: “quality is the key to success, competition is the dynamic of developing” Life cycle of a company include periods: starting, developing, developed and stagnancy Vina-Alpha is now at its developing period, define that doing business based on capital mobilization and inside power Based on the result of period 2010-2013, Vina-Alpha will gain more power, more market share in first process (Investment) and third process (Real estate) 88 CONCLUSION Vietnam is now in attempt to industrialize and modernize the country, keeping pace with general development mainstream all around the world, to which construction industry partly contributes Thanks to the integration with local and international economy, business environment expansion and increasingly fierce competition, strategy planning, which points out company’s development orientation, is more and more meaningful Vinaconex – Alphanam Infrastructure Development and Investment JSC defined its business field, which fits enterprise’s conditions in particular, and development orientations of the construction industry as well as the country in general However, the company still meets certain difficulties It is necessary for the company to have long-term business strategies and proper Marketing policy to boost civil building activities The thesis focuses on identifying the development strategy for 5-year period (2010-2015) of Vina - Alpha Company The context of the thesis also includes some recommendation for strategy implementation solutions We hope that our thesis somehow can contribute to the development of Vina - Alpha Company Due to time constraints, the writers of the thesis definitely are fully aware that mistakes are unavoidable We are extremely grateful to receive any comments and feedback 89 REFERENCES File capacity of Vina – Alpha Company Assoc.Prof.Dr Lê Thế Giới, Master Trần Hữu Hải, – Dr Nguyễn Thanh Liêm (2009), Strategic management, statistics publishers, Ho Chi Minh Assoc.Prof.Dr Đào Duy Huân, Business strategy in the globalization of econom Assoc.Prof.Dr Nguyễn Thành Độ - Dr.Nguyễn Ngọc Huyền, (2007), Enterprise development and business strategy, Ha Noi MICHAEL E PORTER - Competition strategy translated by Nguyễn Ngọc Toàn, (2009) http://www.vinaconex.vn http://www.alphanam.com.vn Vietnam Economy 2007-2008 VnEconomy News 3/2008 10 Hoang Thi Ngoc Anh, Nguyen Manh Ha, Truong Thi Mai Hoa, Real estate magazine, (No 56 dated 05.09.2008) 11 Hoang Thi Ngoc Anh, Nguyen Manh Ha, Truong Thi Mai Hoa, Real estate magazine, (No 63 dated 05.04.2009) 12 Hoang Thi Ngoc Anh, Nguyen Manh Ha, Truong Thi Mai Hoa, Real estate magazine, (No 64 dated 05.05.2009) 13 Review of ministry of Construction, (05/2009) 90 GUARANTY To: ETC Center Team 04 – Class GaMBA01.M01 included: Kieu Xuan Nghi Nguyen Quang Huy Nguyen Van Thanh Nguyen Xuan Luyen After a period of time collecting information, studying strategy at Vinaconex – Alphanam JSC., with a helpfully conduction of company’s BOD and other departments, now we might complete our thesis “Business strategy for Vinaconex – Alphanam JSC, period of 2010-2015” We guaranty that our thesis is not copied from any other science research or thesis It is our own work of information collecting and studying Other documents used only for reference to complete the thesis We take our responsibility with the school for our above words Hanoi, 29th Oct 2009 Team mate of team Kieu Xuan Nghi Nguyen Quang Huy 91 Nguyen Van Thanh Nguyen Xuan Luyen