Food For Survival
The CEO Magazine Asia|December 2020
Vinh Dao learned resilience when stranded in russia after the collapse of the soviet union. The CEO of Golden Gates trade and service used that strength to ensure his hundreds of restaurants survived during the pandemic and his plans to expand were kept on track.
Wendy Kay
Food For Survival

Vinh Dao is used to finding solutions when forced into tough situations. From being stranded as a young man in Russia with no job, nor money, to watching helplessly as COVID-19 forced the closure of hundreds of his restaurants, Vinh never loses sight of the bigger picture. In fact, it’s his dogged resilience that explains why his plans to open another 40 restaurants in 2020 are still very much on track.

It’s a big call, particularly when the CEO of Golden Gate Trade and Service, Vietnam’s leading restaurant chain operator, encountered more than a few hurdles when all 360 restaurants were shut down overnight to comply with the government’s lockdown laws. “We were ordered to close on 9 March,” Vinh recalls. “Of course, it was very difficult at the time. But we reopened at the end of April and quickly recovered about 90 per cent of business, only to be hit by COVID-19’s second wave in July. Although we weren’t closed down, business dropped to about 70 per cent. But that wasn’t too bad.”

The full impact of COVID-19 on Golden Gate was lessened by the fact that 70 per cent of its 16,000 nationwide restaurant staff were part-time students. With worried parents calling their children back home at the start of lockdown, the remaining 30 per cent of permanent staff were able to be kept on. “Our students were happy to go too, because many of them work for the tips and not the salaries,” Vinh explains. “When we reopened, they came back.”

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the {{IssueName}} edition of {{MagazineName}}.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM THE CEO MAGAZINE ASIAView all
Lito German Is Driving Change And Accelerating Growth For Sandbox
The CEO Magazine Asia

Lito German Is Driving Change And Accelerating Growth For Sandbox

After years in the automotive industry, CEO Lito German is now driving change and accelerating growth for importer and distributor Sandbox Middle East.

time-read
4 mins  |
September 2021
They're Pioneers In Enshrining Green Values Into Everything They Do
The CEO Magazine Asia

They're Pioneers In Enshrining Green Values Into Everything They Do

CEO Chamaiporn Uerpairojkit explains how thai plastics giant tpbi was committed to sustainability long before the government made an industry-changing announcement last year.

time-read
4 mins  |
September 2021
Maverick Unicorn
The CEO Magazine Asia

Maverick Unicorn

Spotify co-founder and CEO Daniel Ek is a textbook example of the startup gurus propelling their companies to billion-dollar valuations.

time-read
4 mins  |
September 2021
''Increase The Velocity''
The CEO Magazine Asia

''Increase The Velocity''

Adapting Camfil’s business model to work at a faster pace was critical for the business to thrive in today’s China, according to managing director Michel Moulin.

time-read
5 mins  |
September 2021
Device Manager
The CEO Magazine Asia

Device Manager

Covid-19 tore the world’s tech supply chains asunder, the effects of which are still being felt today. But through steady management and quality of work, malaysian component manufacturer analog devices has managed to thrive during the storm.

time-read
4 mins  |
September 2021
Going Antiviral
The CEO Magazine Asia

Going Antiviral

Chiaphua Industries chief marketing officer and co-founder of Germagic Hamilton Hung has transformed the appliance manufacturer into an antiviral research and development powerhouse. And he has done so with patience and vision.

time-read
4 mins  |
September 2021
Risk Vs Return
The CEO Magazine Asia

Risk Vs Return

Add pandemic fallout to a low interest-rate environment and you have a challenge for highnet-worth investors. Where might opportunities lie?

time-read
4 mins  |
September 2021
Expect The Unexpected
The CEO Magazine Asia

Expect The Unexpected

For lockton philippines insurance & reinsurance brokers ceo vic valledor, providing affordable premiums for the poorest families is vital, especially considering the recent challenges of the covid-19 pandemic.

time-read
5 mins  |
September 2021
The Ultimate Investments
The CEO Magazine Asia

The Ultimate Investments

With the global economic recovery from the pandemic underway, many analysts are suggesting now is the time to invest – but will whisky, soybeans or bitcoin find a way into your portfolio?

time-read
5 mins  |
September 2021
The Future Of Fintech
The CEO Magazine Asia

The Future Of Fintech

Covid-19 has accelerated the world’s shift to a digital economy, and airwallex co-founder and president Lucy Liu wants to make sure there are more female fintech leaders with her at the top.

time-read
3 mins  |
September 2021