{"id":8399,"date":"2017-02-20T07:41:11","date_gmt":"2017-02-20T00:41:11","guid":{"rendered":"http:\/\/yup.edu.vn\/?p=8399"},"modified":"2017-02-20T07:41:11","modified_gmt":"2017-02-20T00:41:11","slug":"tu-tinh-yeu-que-huong-mot-viet-kieu-da-quyet-tam-bien-nhot-thai-thanh-vang","status":"publish","type":"post","link":"https:\/\/yup.edu.vn\/en\/tu-tinh-yeu-que-huong-mot-viet-kieu-da-quyet-tam-bien-nhot-thai-thanh-vang\/","title":{"rendered":"Out of Love for His Homeland, an Overseas Vietnamese Man Resolved to Turn Waste Oil into Gold"},"content":{"rendered":"

It sounds hard to believe, but it is true. By establishing VN Oil Joint Stock Company in Vietnam, overseas Vietnamese entrepreneur Nguy\u1ec5n H\u1eefu V\u0103n wants to turn hazardous waste oils into... gold.<\/span><\/strong><\/p>\n

\"nguyen-huu-van\"<\/a><\/span><\/p>\n

The story began when Nguy\u1ec5n H\u1eefu V\u0103n, a Vietnamese American, after many years abroad, remained troubled that he had done little for his homeland. He felt a special connection and debt to the oil and gas industry, yet had contributed little and was already \u201capproaching old age.\u201d He therefore decided to leave the United States and return to Vietnam to fulfill that obligation.<\/span><\/p>\n

Originally from Hanoi but raised in Saigon, Nguy\u1ec5n H\u1eefu V\u0103n went to West Germany in 1969 to study petroleum engineering. After graduating, he moved to America to build his career.<\/span><\/p>\n

After 2 decades abroad, he returned to Vietnam for the first time in 1990. Seeing hardship everywhere and knowing the country had substantial oil and gas resources, he decided to return and contribute to his homeland, drawing on his 20 years of experience in the global oil and gas industry.<\/span><\/p>\n

Initially, he simply organized seminars to introduce and teach technology and skills to Vietnamese oil and gas engineers. He then became a bridge enabling them to study in the United States. At the time, he represented major oil and gas businesses in Vietnam, such as Smith International, ABB, Invensys, Ingersoll Ranch, and WorleyParson\u2026 At times, he also worked as a management and supervision consultant for projects such as V\u0169ng \u00c1ng 1 and M\u00f4ng D\u01b0\u01a1ng 2 thermal power plants\u2026<\/span><\/p>\n

But eventually he realized Vietnam was wasting a goldmine called \u2018used lubricating oil.\u2019 Each year, Vietnam imports around 400,000 tons of base oil worth about 500 million USD. Mixed with additives, base oil becomes lubricant that keeps motorbikes, cars, aircraft, ships, generators and other machinery running smoothly.<\/span><\/p>\n

However, after use, this oil is discharged directly into the environment untreated, causing serious harm. As an industry insider, he knows waste lubricating oil can be treated, have impurities removed, and undergo high-tech hydrotreating to become base oil again, at a price 5-7% below imported base oil. Factory investment is also not too high, around 110 million USD. The market is wide open among lubricant distributors in Vietnam, such as Nikko, Vilube, Vidamo, and International Lubricants Company\u2026<\/span><\/p>\n

Putting his idea into action, in 2010 Mr. V\u0103n began planning VN Oil, a waste lubricant treatment plant producing API II-standard base oil using technology from CEP (USA). If successful, it would be the first plant in Southeast Asia and the sole one in Vietnam to apply this technology. With it, Vietnam could address an environmental problem while saving a considerable amount of foreign currency spent on base oil imports.<\/span><\/p>\n

Following preparation efforts, VN Oil was included by the government in 2014 among priority high technologies and designated for preferential loans from the Vietnam Development Bank (VDB). \u201cI also applied for Vietnamese citizenship to facilitate the factory\u2019s future business activities,\u201d V\u0103n said.<\/span><\/p>\n

After more than 6 years of preparation, V\u0103n\u2019s long-nurtured \u201cchild\u201d was finally about to be \u201cborn.\u201d Construction began at Hi\u1ec7p Ph\u01b0\u1edbc Industrial Park in Ho Chi Minh City, with operations expected by the end of 2019. The factory would then process 62,000 tonnes of waste oil per year and supply around 43,000 tonnes of AP II base oil to the market. At that point, waste oil would turn into gold.<\/span><\/p>\n

\u201cBut that factory meets only 10% of market demand. Vietnam needs at least 4 factories like it,\u201d Mr. V\u0103n said with a smile, as though hinting at grand plans still taking shape.<\/span><\/p>\n

The only thing is that VN Oil's exclusive contract with CEP will end in 2020, leaving only about 3 years under the agreed schedule. CEP will then be free to sign cooperation agreements with other companies in Vietnam. This does not worry Mr. V\u0103n, however, because what matters to him is protecting Vietnam's environment.<\/span><\/p>\n

His only concern is that opening up credit for the project has still not gone smoothly, despite government directives and more than a year of project appraisal by VDB.<\/span><\/p>\n

But beyond all his worries, what matters to V\u0103n is finding a way to contribute to his homeland and country. Without Vietnam, there would be no Nguy\u1ec5n H\u1eefu V\u0103n as he is today.<\/span><\/p>\n

Collected<\/span><\/p>\n

>> Great Articles on Entrepreneurship<\/a><\/span><\/p>\n

>> Business Startup Course<\/a><\/span><\/p>\n

>> Business Consulting Program<\/a><\/span><\/p>\n

","protected":false},"excerpt":{"rendered":"

Nghe th\u1eadt kh\u00f3 tin, nh\u01b0ng \u0111\u00f3 l\u1ea1i l\u00e0 chuy\u1ec7n c\u00f3 th\u1eadt. V\u1edbi vi\u1ec7c th\u00e0nh l\u1eadp C\u00f4ng ty c\u1ed5 ph\u1ea7n VN Oil t\u1ea1i Vi\u1ec7t Nam, \u00f4ng Nguy\u1ec5n H\u1eefu V\u0103n, m\u1ed9t doanh nh\u00e2n Vi\u1ec7t ki\u1ec1u \u0111ang mu\u1ed1n bi\u1ebfn c\u00e1c lo\u1ea1i nh\u1edbt th\u1ea3i \u0111\u1ed9c h\u1ea1i th\u00e0nh\u2026 v\u00e0ng. Chuy\u1ec7n b\u1eaft \u0111\u1ea7u khi \u00f4ng Nguy\u1ec5n H\u1eefu V\u0103n, Vi\u1ec7t ki\u1ec1u M\u1ef9, […]<\/p>\n","protected":false},"author":1,"featured_media":8401,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[134],"tags":[],"class_list":["post-8399","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-article"],"_links":{"self":[{"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/posts\/8399","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/comments?post=8399"}],"version-history":[{"count":1,"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/posts\/8399\/revisions"}],"predecessor-version":[{"id":8402,"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/posts\/8399\/revisions\/8402"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/media\/8401"}],"wp:attachment":[{"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/media?parent=8399"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/categories?post=8399"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/yup.edu.vn\/en\/wp-json\/wp\/v2\/tags?post=8399"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}