Tran Thanh Phuong: A Trailblazing Entrepreneur Revolutionizing Customs in Vietnam

In today’s hyper-fast and changing economy, it is normal for people to find foreign items from every corner of the world lined up in retail stores. These imported items provide multiple choices for consumers. More importantly, they can positively impact a country’s financial health. When the imported products are productive assets like machinery and equipment, they can improve a country’s productivity, boosting its revenue and exports. However, imports can only be helpful to consumers when the said country has a flexible trade structure. Take Vietnam as an example. In recent years, the supply chain in Vietnam has empowered several business activities as well as the overall operation of the economy. There is a richer and better flow of products and services, which is helping meet the demands of consumers.

That being said, Vietnam’s supply chain model is still in its early stages. When supplying technology products to the market, exporters have to face complex customs procedures, high import tariffs on certain products, inadequate infrastructure, complex regulatory policies, and concerns regarding security of certain products. While the world is digitized and trade systems have evolved, these challenges make it difficult for technology companies to export necessary products to the country.

These myriads of challenges in import-export inspired Tran Thanh Phuong, a visionary Vietnamese entrepreneur and customs specialist to come up with a groundbreaking solution. He established ExtendMax Vietnam Co., Ltd., transforming obstacles into opportunities. In our cover feature for “Influential Business Leaders of the Year – 2024,” we will delve into how his innovative vision and exceptional leadership are driving his nation towards a brighter future.

A Silver Lining for Global Manufacturers

With two decades of experience in executive leadership, Phuong possesses a wealth of knowledge. He has led several MNCs and Vietnamese companies across sectors, from technology to retail. At the same time, it is worth noting he is a coveted name in recursive certification, import, and export procedures for IT equipment. With such a decorated background, it wasn’t too taxing for Phuong to identify the legal barriers troubling foreign technology firms from supplying equipment and machinery to Vietnam. The country has prevalently suffered from data security and privacy issues, unavailability of revenue-generating IT equipment, business agility, and knowledge gaps. 

Such a scenario necessitated a flexible trade route for foreign businesses to seamlessly supply IT resources for vital technology operations—from mobile app development to managing telecommunications and gathering business intelligence. Recognizing this need, Phuong founded a consulting firm dedicated to providing effective solutions in product conformity certification, import-export procedures, and Importer of Record (IOR) services. Thus, ExtendMax was born. As CEO, Phuong envisioned an ecosystem built around transparency and efficiency, empowering exporters to thrive and expand their presence. Over the past decade, ExtendMax has proudly served many global industry leaders, becoming a trusted partner for customs services.

Holistic & Tailored Consulting Solutions

ExtendMax is dedicated to providing businesses with reliable legal assistance to ensure they find authentic regulatory approval certifications for their products entering Vietnam. Emphasizing this, the firm has categorized its services into product conformity certification consulting, import-export consulting, and Importer of Record and Exporter of Record (IOR & EOR) services. With a focus on connecting the world’s leading manufacturers and the Vietnamese market, the firm has carved a niche for specialized services. Phuong states, “Our unique strength lies in personalizing services and providing comprehensive solutions tailored to each client.” 

This ability to customize has been their stepping stone in growth. Its ability to tailor services to specific client scenarios has helped it be a trusted partner to many global giants such as Amazon, Microsoft, Cisco, Lenovo, HPE, Palo Alto, Arista, Nutanix, etc. Its team of consultants is well-versed in the legal regulations of the market, which allows it to understand specific requirements and regulations applied to different markets and deliver optimal solutions.    

Upholding the Highest Standards

Although personalized services are ExtendMax’s specialty, Phuong has had difficulty bringing the business up to this level. Since the firm works with the world’s leading manufacturers, it is quite evident that any noncompliance with the requirements of the host nation could seriously harm their financial position. “Our biggest challenge has been to meet the high standards of leading manufacturers to become an official supplier in their supply chains.” says the CEO. To overcome this hurdle, they invested in technology-driven management systems and trained their staff to be experts in the field as well. 

This speaks a lot about the CEO’s capacity to make ExtendMax a preferred partner in the international market. To grow ExtendMax from a fledging business to a sustainable and committed organization, Phuong has made great efforts to elevate the firm’s standards and earn the confidence of top manufacturers in the market. His strategic thinking has positioned ExtendMax as a prominent player in import & export consulting and certification. He is always keeping the company on top of industrial changes, adopting technological innovations, and ensuring a tunnelled mindset of everyone on board towards the firm’s long-term goals.

Innovative in tackling complex scenarios

As technical and regulated import-export consultation and certification is, there is always room for imaginative thinking. ExtendMax heavily invests in this idea to navigate complex scenarios. Phuong believes that having a flexible and open mindset makes you fearless enough to think outside the box. This can uncover hidden creativity that can add value to team efforts and overall business. This understanding compels him to encourage his team to be inquisitive in their approach. It helps them look at problems from different angles and create solutions to streamline operations.

Keeping the mind open to innovative ideas also creates space for broadening knowledge. Phuong and his team constantly update themselves on the intricacies of international trade laws and customs regulations and the documentation required for shipping goods across borders. It helps to develop creative solutions that comply with legal standards while optimizing efficiency. The relentless emphasis on creativity and innovation allows ExtendMax to have an empowering environment where ideas are valued and encouraged. “I also believe in letting employees know that their efforts are valued, encouraging them to keep contributing and doing well,” adds Phuong.  

R&D – Fuelling ExtendMax’s Innovation Engine

R&D is one of the critical pillars of success in import-export consulting. Import-export is an intricate field, and the success of a consulting firm hinges on more than the ability to move products across borders. The heart of this international trade lies in a deep understanding of the markets. This understanding allows a firm to tailor their business strategies, be prepared for risks, and capitalize on opportunities. R&D has a varied role at ExtendMax in shaping its trajectory. Market research helps them navigate the ebbs and flows of an ever-changing landscape. 

On the other hand, it also fuels their innovation engine. This keeps them up to date on emerging trends in product conformity certification and import-export, allowing them to create bespoke solutions. Phuong adds, “Our R&D investments allowed us to create several specialized consulting services for information security products in response to market demands.” Furthermore, R&D provides data-driven insights into market dynamics that could help in strategic planning to gain an advantage over rivals.

Acclimatized with Scalable technologies

Technology is integral in streamlining import-export consulting for today’s fast and interconnected world. From automating loads of manual paperwork to supply chain visibility and tracking and data analytics to risk management and communication, technology has deliberately redefined the fundamentals of import-export consulting. ExtendMax keeps a close watch on these advances and integrates technology that helps it advance. Phuong explains that technology in their line of work is no longer limited to using software solutions to automate routine tasks. Rather, it is also about having the tools that keeps them ahead of the curve. Phuong and his team leverages AI for predictive analytics and uses other digital tools to provide faster and more efficient consulting solutions that help clients save costs. 

By staying abreast of technological upgrades, the team at ExtendMax increases efficiency and cuts down human error, which improves overall client satisfaction levels. Adapting to technological developments also allows the firm to explore new avenues of growth and innovation. Given that ExtendMax works in an extremely dynamic industry, it also keeps them at the forefront of the market and ensures stable growth. 

Nurturing A Fervent Team

ExtendMax has committed significant resources to supporting the success of its employees, and this investment is truly unparalleled. As the CEO and a businessman, Phuong has always believed people to be a critical asset of any business. While he has a profound passion for digital technology and its potential to revolutionize the import-export sector, he has always shown a greater interest towards empowering the people he works with. It has helped him build a thriving culture powered by collaboration and open communication. “We also organize internal brainstorming sessions that can foster creativity in projects and fuel innovation within the company,” says Phuong. This encourages everyone to contribute ideas and experiment with innovative approaches. 

While keeping everyone engaged, the management also sets scalable goals to assess the team’s progress and keep everyone aligned with the company’s objectives. Phuong ensures that everyone finds proper support, guidance, and development opportunities for professional growth. “I encourage my team to read books on business and leadership, attend industry-specific seminars, and learn from prominent leaders,” says the CEO. This equips teams with real-life experiences and valuable industry insights.

Tran Thanh Phuong – An Innovative & Visionary CEO 

Phuong’s passion for innovation, inventive approach to scenarios, and camaraderie with the people he works with make him a fine example of what innovative leadership should look like in modern times. But this isn’t something he has manifested overnight. Phuong had a passion for business from an early age. He grew up in an unstable economic environment, thus his foundational business expertise came from working at a variety of jobs, including tutoring, selling vegetables, making open-air tiles, fishing, and salesmen at clothes stores. These experiences not only solidified his passion to become an entrepreneur but also helped him stay grounded. Over the years, he served many big brands where he learned about international trade, sales management, etc. This helped him lay the foundation of ExtendMax.

After a decade of sustainable business, Phuong has earned a reputation for his ability to innovate, be flexible, and capacity to inspire others. Speaking elaborately on this, he says, “Being innovative is essential to stay ahead of the competition, flexibility promotes adaptability to change, and inspiration drives employees to feel uplifted and to have a shared vision for the growth of the company.” His commitment to these ethical elements contributes to the sustainable growth of his company.

Milestones that strengthen his standing

Phuong’s rise as a paragon of innovative leadership hasn’t been without setbacks. Every leader has to pass failure on the way to success, and Phuong learned this the hard way. During ExtendMax’s early years, Phuong did not devote the essential resources to innovate management methods. While this led to the loss of many excellent employees, it helped him better understand the value of a team. The scenario also made him realize that becoming flexible and adaptive is essential for taking effective decisions as a leader.  

Learning from his mistakes not only helped him become a better leader but also bestowed him with prestigious accolades. One of his most notable accolades was winning the title of “Business Icon of the Year in Vietnam 2024” from Global Business Review Magazine. Phuong’s growth as a leader has been widely recognized by many national and international associations. He has served as a juror in the esteemed Stevie Awards and has been an honorary speaker at the Pin Lithium summit in Shenzhen.

Continuing to digitize customs consulting

Phuong has had many feathers on his proverbial cap over the years. His company ranks among the leading conformity certification and customs consulting firms in Vietnam. It partners and works with global technology giants like Amazon, Cisco, and Lenovo. As prestigious as that sounds, Phuong understands there is still a long road to travel. 

He aims to explore the untapped potential of digitalization and process automation in customs consulting. Technology is reshaping international trade in unprecedented ways. Innovations like blockchain supply chain solutions and AI-powered market insights are revolutionizing the sector. Phuong is eager to harness these advancements to innovate import-export consulting. His vision extends to leveraging technology to enhance sustainability standards and bolster information security, ensuring a future that is both efficient and responsible.

A Note to Remember

Never stop innovating! By embracing continuous innovation, you could transform a small enterprise into a thriving corporation.

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