“Doing Well By Doing Good Pays Off.“
Great intentions from end to end.
Masan Group was established in 1996 and is registered in Ho Chi Minh City, Vietnam. They are one of Vietnam’s leading consumer-focused business groups and they believe in the mantra of ‘doing well by doing good’. One of their main goals were to provide quality products and services for Vietnam’s population of nearly 100 million people, enabling them to get more value for money on their daily basic needs.
Recognizing that although Masan Group’s core business purpose has not changed, their consumers and their needs have evolved, and will continue to evolve, moving beyond basic needs to demanding experiences that address their modern lifestyles and aspirations. As a result, Masan Group has gone beyond manufacturing and selling branded products and has recently entered retailing, where they can better reach their consumers and deliver tailored experiences, the next battleground to win mindshare and loyalty. This is what they mean by ‘Our journey is the consumers’ journey’.
Today, Masan Group’s subsidiaries and associates operate in sectors that include consumer retail, branded FMCG (including packaged food and beverage, and home and personal care), branded fresh meat and financial services. They operate in sectors that together represent a majority of the consumer wallet share in Vietnam, where domestic consumption is the key component of GDP and driver of economic growth. Consistently, their businesses are key pieces of a consumer ecosystem that can better serve the fast-evolving needs of Vietnamese consumers.
Masan Group believes in a consumer-centric approach to building leading businesses, and have succeeded by building leading power brands to win the trust and loyalty of Vietnamese consumers, increasing productivity through innovation and technology as well as economies of scale, and focusing on fewer but bigger opportunities that can impact the most lives. With their retail business, they hope to go further with their consumers, aiming to provide a holistic online and offline shopping experience that addresses evolving needs, cementing their vision which is to be Vietnam’s pride by uplifting the material and spiritual lives of consumers, anytime and anywhere.
As one of Vietnam’s largest private sector business groups, Masan Group recognizes their responsibility to set an example for other enterprises and to raise the standards for sustainable development. To achieve that, Masan Group has put focus on the following areas: innovation in products and processing, talent sustainability, environmental stewardship, corporate social responsibility, and corporate governance.
On the community front, Masan Group believes in improving the livelihoods of members of the communities where they operate in, and partnering with the local residents. In 2019, the group contributed over VND6,088 billion to the State budget, fulfilling their legal obligation as a private sector leader. In addition to being one of the largest taxpayers in the provinces where they operate, Masan Group has been working directly with the local community to promote job creation and improve their quality of life. Simultaneously, they practice giving back to the communities where they operate through sustainable initiatives that empower people who are experiencing a variety of challenges.
Masan Group also firmly believes that infrastructure development will empower the less fortunate for the long-term. To that end, they have invested heavily into social infrastructure, including health facilities, schools, vocational trainings, and mentoring programs. In 2020, the group invested VND10 million in education and sustainable community development alone, covering initiatives like awarding of scholarships, clean water programs and rural home, bridge and road construction programs.
Among some notable accolades that Masan Group has received are being named one of Vietnam’s Best Places to Work and acknowledged as one of Vietnam’s Top 50 Best Listed Companies.
“The magnitude of thought that has gone into Masan Group’s prosper thy neighbour strategies is powerful and inspirational. This is a conglomerate which understands the power of community and its own duty to the people it serves.”
Shanggari Balakrishnan, Chief Executive Officer, MORS Group