Đoàn Nguyên Đức, Chairman of Hoàng Anh Gia Lai (HAG), marking Vietnam's Entrepreneurs' Day on October 13, said the company has overcome its darkest period after more than 10 years of carrying VND 36,000 billion in debt, completing its bond settlement with DATC on March 30. Once Vietnam's richest person on the stock market, he fell into debt along with HAG after the company lost liquidity, with accumulated losses of VND 7,000 billion. Rather than covering the debt with new projects, he disclosed the situation publicly and worked with banks to restructure, selling assets including a hospital, hotels and hydropower plants, and shifting to short-term crops such as chili and passion fruit. He stresses that credibility is an entrepreneur's last asset.
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Original headline: 'Nợ 36.000 tỷ đồng đáng sợ thật, nhưng không đáng sợ bằng mất một chữ tín'
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