When A.R. Fontaine arrived in Tonkin in 1886, he was quick to see the potential of applying new technologies to a traditional industry, and to grasp the importance of state protection for the success of his fledgling enterprise. From modest origins, he built a business empire that included everything from distilleries to coal mines to bicycle factories. Fontaine’s was one of the colonial conglomerates that played a central role in the economy’s “Indochinese moment,” introducing new technologies and familiarizing Indochinese with new ways of working, consuming and being. However, the downturn that began in Indochina in 1928 exposed the weakness of many of these enterprise groups. When A.R. Fontaine was forced to step down as President of the SFDIC in 1932, it signified the start of a new era of economic development directed not from Hanoi or Saigon, but rather from Paris.
An Analysis of the Construction of Internal Audit System in Enterprise Groups