Recently the Vietnam-based office supplies company Thien Long announced that it will be investing almost $3 million in the Philippines as it is expanding in the Southeast Asian region, according to a news report by VnExpress.
To put things in perspective, posted below is an excerpt from the news report of VnExpress. Some parts in boldface…
Vietnamese office supplies company Thien Long plans to invest US$2.8 million in the Philippines as part of efforts to expand in Southeast Asia.
It will establish the Flex Office Philippines brand to distribute stationary products imported from Vietnam, according to a recent announcement.
In an interview with VnExpress in April, the company’s chairman, Co Gia Tho, had outlined plans to gain a bigger share of the Southeast Asian stationary market.
In recent years the pen and stationery market in the region has been shrinking, with businesses shifting to more profitable industries, offering Thien Long the chance to expand overseas, he said.
Exports currently account for 20% of the company’s sales, and have been growing in double digits over the last decade, reaching VND1 trillion ($38 million) for the first time in 2024.
The management aims to increase this share in the coming years through a “glocalization” strategy, leveraging domestic strengths and adapting them for international markets.
In May, through a subsidiary, it acquired Phuong Nam Cultural Corporation, which operates a chain of nearly 50 bookstores.
The management said the purchase is a strategic step to develop new product categories, particularly toys and lifestyle consumer goods, on which the company has been focusing in recent years.
Let me end this post by asking you readers: What is your reaction to this recent development? Have you ever heard of Thien Long before? Do you think the Vietnam-based office supplies company will succeed with its $2.8 million investment in the Philippines?
You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.
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