In 2001, the Larive Group was enriched as Openasia joined as the formal Larive Group partner for Vietnam. Characterized by a remarkable entrepreneurial background, Openasia lives up to its reputation as ‘entrepreneurial investor’. Larger than life brands, including Starbucks, Audi and Lafarge have all taken their first steps onto the Vietnamese market, directly supported by the Openasia team. Openasia is known as a prominent business advisory service supplier and over the years, we have had the joint pleasure to advice renowned companies such as Nutreco, PAN Group, Campina, SHV Energy and Lutece, on their market entry and expansion strategies for Vietnam.
A true powerhouse in Asia
Vietnam as a country has long been, and remains, a true powerhouse in Asia. For foreign investors, it has many attractive features: competitive wages, growth in manufacturing, a rising middle class and private investments are rapidly fueling its expansion. Examples include the manufacturing industry, aquacultural exports, and particularly the electronic cluster as Vietnam is now the ninth-largest exporter of electronics. This growth in export volumes can be attributed to the European Vietnam Free Trade Agreement which came into effect in August 2020. In addition, the country represents an attractive addition to China when expanding in Asia. The workforce is highly educated and keen, and the younger generation tends to have a global perspective and a good proficiency in the English language.
Openasia started in 1994 as an Investment Bank in Indochina by Lazard Frères and has since acquired 25 years of experience in investment banking, corporate affairs, consulting, and management services. Ever since the Vietnamese market shifted towards a market-based economy in 1995, Openasia has realized more than 600 projects serving large multinational companies entering and expanding their business in Vietnam. Based in both Hanoi and Ho Chi Minh City, their core advisory team comprises senior researchers and advisors with in-depth multi-discipline expertise and experience, international exposure and strong local network.
Over the years, Openasia has become a multi-faceted group (six divisions and a private equity group) employing more than 1,500 people and serving the growing number of Vietnamese people looking for premium products and services. The growing middle class is expected to hit about 35 million by 2035. As Vietnam opened more and more to the rest of the world the fine-tuned mix of Vietnamese and Western culture running through the company has shown its success and can be seen in their opportunistic approach to business endeavor and true respect for all their employees.
The company is led by a three-piece management team. Doan Viet Dai Tu, managing partner with a French-Vietnamese heritage and 23 years of global experience in business consulting and private equity, has developed the company in a direction that combines the best of both worlds. Together with Christian de Ruty and Nguyen Thi Nhung, the three partners are closely involved in day-to-day business since the inception in 1994.
Like no other market entry firm in Vietnam, Openasia has been at the forefront of the investment wave. Being able to bridge the cultural divide, the team has a deep understanding of both the cultural, legal and business context in Vietnam and Europe. Having been educated at different (prestigious) European universities, the management team is able to apply global management techniques in the Vietnamese setting.
Change & opportunity
Globalization has provided tremendous opportunities for companies to reach out across borders and grow by adapting to new markets, new customers, and new opportunities. This makes the understanding of local cultures increasingly important in determining the success of global businesses.
Openasia has been at the forefront of bridging the cultural divide and leveraging her local network for clients and relations, not only across cultures but also across generations. Keen on crossing that bridge and learn what Openasia can do for you? We look forward to collaborate with you on transforming and developing your company, Vietnam, and the Netherlands.
Doan Viet Dai Tu:
“We work as entrepreneurs for entrepreneurs. We do not do research to write a research report, we do research which adds value to you and functions as a decision-making tool.”