Nguyen Thanh Hoang

Founder of Norfolk Group

"We are proud to be both an Australian and a Vietnamese company. Norfolk Group projects always have the Australian and the Vietnamese flags standing next to one another - that is our pride."

A Vietnamese-born Australian, Nguyen Thanh Hoang founded his real estate company Norfolk Group in Sydney. He did not return to Vietnam until 1990 when he visited his family.

He first thought about going back to Vietnam around 1989, when he met a delegation from the State Committee for Cooperation and Investment during their visit to Australia. The committee’s then deputy chairman, Nguyen Mai, delivered a presentation on Vietnam’s foreign investment policies, which Hoang and Norfolk Group found fascinating. Returning to visit his mother in 1990, he realised that while Ho Chi Minh City did not have facilities of international standards to attract investors - such as office space and hotels - the potential was immense.

Back in Australia, Hoang discussed developing an office building in Vietnam with his partners. At that time, foreign businesses had a hard time operating in Vietnam because of US embargos, while no financial and banking institutions approved loans for investments into Vietnam. There were few Australian companies entering Vietnam at the time, and Hoang’s partners were evidently concerned.

“But I had faith. And I studied Vietnam’s Law on Foreign Investment very carefully” he said. In 1991, Norfolk Hotel - the first hotel of international standards in Ho Chi Minh City - was opened. He then continued investing in office buildings, apartments for rent, residential developments and resorts.

Hoang underlines that Norfolk Group is proud to be an enterprise that attaches its work to principles of transparency, integrity, strong partnerships and excellence. While the investment environment in Vietnam has its shortcomings, particularly in regard to the legal frameworks, he believes it will improve and understands that it takes patience and long-term vision. Overall, he is satisfied that his business is achieving the desired results.

“The fact that the Australian and Vietnamese governments show great support to the enterprise is proof of that efficiency,” he said.

Following Norfolk Group, there have been numerous major investors from Australia and other countries entering Vietnam. Hoang provided supportive advice and shared his experiences.

Norfolk Group is especially focused on staff training and has set up an educational Luong Van Can Scholarship Fund that seeks out and awards scholarships to underprivileged talents, helping them contribute to society. Hoang believes that for a rapidly developing country such as Vietnam, training and skills improvement is an important issue.

Sustainable development is a key consideration in the design and operation of Norfolk Group’s properties. Its projects always place environmental factors first. In addition, Six Senses Con Dao resort, a Norfolk Group property collaborates with the National Park Authority to protect sea turtles.

On the 50th anniversary of the Vietnam-Australia relations, Hoang said that he is proud that Australia was one of the first Western countries to establish diplomatic ties with Vietnam, thanks to which Norfolk Group has had the chance to invest in Vietnam. Australian investors and visitors feel respected when the Vietnamese government and people see them as candid partners.