Tuesday, January 15, 2008

Vietnam seen as center for GE’s growth in SEA

GE president for South East Asia Stuart Dean (L) talks with students of Hung Vuong University in HCMC last week

By Mong Binh
The Saigon Times Daily

HCMC - The president of General Electric (GE) for South East Asia has underlined that the U.S. group places Vietnam as center for its growth in the region and can help develop human resources for global competition.

“Vietnam is playing a central role in GE’s growth strategy for South East Asia as we focus on emerging markets such as this,” Stuart Dean said during his trip to Vietnam last week.

Dean told lecturers and students of Hung Vuong University in HCMC that GE had strong commitment to helping Vietnam and was attempting to provide this country as many chances of accessing its resources and expertise as much as possible.

Dean spent most of his two hours at the university to talk about the experiences and practices in how GE’s leaders develop leaders from within the group in accordance with GE’s history of corporate responsibility and culture.

Dean also introduced a “leadership ecosystem” concept that GE has developed based on the combination of factors that create synergy among employees and develop their potential to become leaders.

“We are a company built on principles, powered by a culture of performing with integrity. It is the result from the way our company develops and energizes people, leading them to become the next generation of leaders,” Dean said.

GE spends US$1 billion each year in human resources development. As the result of GE’s effort in developing human resource, GE has been named in Fortune’s list of “Companies for Leaders” by growing its initiatives in 2007.

Dean’s presentation is just another effort of GE to share its resources and expertise to Vietnam. The group staff shared best-practice cases in corporate governance during the Corporate Governance and Transparency Workshop in Hanoi last year.

The presentation was part of Dean’s recent visit to Vietnam, where he also participated in the “Business Roundtable with the Government of Vietnam” in Hanoi last week. He was among five panelists to discuss with Prime Minister Nguyen Tan Dung on the investment environment and prospects of Vietnam.

GE has been active in Vietnam since 1993, supplying commercial aircraft engines, aircraft leasing, locomotives, turbines, generators, gas compressors, diagnostic equipment, electrical and electronic equipment, lighting, water treatment chemicals and other products.

GE Money, a provider of consumer financing services, also set up an office in Hanoi in 2006. Besides, GE also contributes to the local community through scholarships granted to tertiary students, and supports for social projects.