“Hopeful stars" for businesses on the new journey

VCN - Major export markets are undergoing significant changes, posing challenges for the business community. Many "hopeful stars" have been chosen by businesses with the desire to create a new breakthrough in business and reach new heights.
Nghi Son port border gate customs: Stimulating demand for import and export through the seaport Nghi Son port border gate customs: Stimulating demand for import and export through the seaport
Binh Duong: Fertile ground for logistics businesses Binh Duong: Fertile ground for logistics businesses
More businesses to join Vietnam E-Pavilion More businesses to join Vietnam E-Pavilion
Workers processing aloe vera at GC Food factory. Photo: TL
Workers processing aloe vera at GC Food factory. Photo: TL

"Key" to expansion

At the ongoing Annual General Meeting of Shareholders (AGM) in 2024, the phrase "expanding production" can be seen as a plan set by many companies this year as well as in the following years. Sharing with CustomsNews on the sidelines of the recent AGM, Nguyen Van Thu, Chairman of the Board of Directors of G.C Food JSC (GD Food) said that the company would continue to invest in developing raw material areas, expanding the area of aloe vera raw material from the current 200 hectares to about 500 hectares to ensure proactive access to raw materials for production. According to the plan, GC Food will put 200-250 tons of aloe vera leaves into production every day. Thereby, it is expected to bring about a breakthrough in revenue and profit in 2024.

In addition to developing raw material areas, Thu also said that they would invest in new product lines of cosmetics from aloe vera material and invest in a factory producing bottled drinks from aloe vera, coconut jelly, and fruits. This plan is part of the company's orientation in maximizing the value chain from aloe vera trees. Currently, GC Food is cooperating with some partners and investors to develop new products. Accordingly, the new factory will start construction in 2024 and is expected to have products by 2025.

Many other companies operating in the agricultural sector such as Vinh Hoan Corporation, Dabaco Group, and BAF Agriculture JSC are also planning strong expansion investments. Specifically, Vinh Hoan Corporation will invest in expanding and upgrading the production capacity of collagen and renovating factories at Vinh Hoan Collagen Company. Vinh Hoan also intends to invest in warehouses and additional machinery and equipment for Phase 1 of the Thanh Ngoc fruit processing plant; invest in expanding warehouses and upgrading the production capacity of Feedone aquatic feed factories, and Sa Giang factories. Simultaneously, investments are expected to expand farming areas; new investment and renovation of Vinh Phuoc, Thanh Binh, and Vinh Hoan factories.

At the AGM in 2024, the "giant" in the livestock industry - Dabaco also outlined development plans, expanding production bases; and speeding up the progress of investment, putting ongoing projects into operation, including: vaccine production plants, phase two vegetable oil extraction plants. Additionally, Dabaco also implements suitable short and long-term projects such as High-tech Livestock Farms in Quang Ninh and Thanh Hoa; and complete the necessary procedures to bring ASF (African swine fever) vaccine to the market as soon as possible.

Another large livestock company, BAF, also sets a strategy in 2024 to expand distribution channels, connect with farmers to develop pig herds, invest heavily in farm development, consolidate personnel, upgrade systems, and create opportunities for international cooperation. Notably, this company plans to put seven farm projects into operation in 2024, located in: Tay Ninh, Phu Yen, Binh Phuoc, and Gia Lai provinces. Simultaneously, it is planned to start construction of seven more projects in 2024, including six livestock farm projects and one animal feed production plant project in Binh Dinh province. It is expected that by the end of 2024, the total herd will double compared to the same period in 2023, reaching 75,000 sows and 800,000 fattening pigs.

Meanwhile, Saigon Ground Services Corporation (SGN) is placing many hopes on the bidding plan at Long Thanh International Airport to expand its production and business here. In 2024, the company will focus on successfully bidding for the "Investment project to build, operate, maintain the ground vehicle service area and aircraft sanitation processing No. 01 and 02 - Long Thanh International Airport (LTIAP)".

If awarded the bid, SGN will spend nearly VND174 billion, of which VND51 billion is for Tan Son Nhat International Airport (parking equipment, information technology, and preparation for LTIAP), and VND123 billion for investment in equipment at LTIAP.

Long journey of sustainable development

In addition to the actively implemented expansion plans, green transformation towards sustainable development is a long-term goal that companies aim for to keep up with market changes. Accordingly, in 2024, GC Food will establish an ESG Committee to carry out tasks related to current ESG criteria and practices. Thu said that GC Food has recently received many requests from international customers, especially those from Europe, regarding ESG issues, sustainable development in the company. Accordingly, the company has put forward many criteria, implemented activities to demonstrate to customers. The company also strives to achieve ESG certification by an international organization in 2024 or 2025.

"This will be a passport for GC Food to sell goods in the European market more conveniently, while also enhancing the company's reputation and achieving better selling prices" - stated Thu. In addition to ESG solutions, GC Food also implements many activities to optimize energy sources used in factories and aims to balance greenhouse gas emissions by 2030.

At the recent Sustainable Development Conference organized by Forbes Magazine, Tran Nhu Tung, Chairman of the Board of Directors of Thanh Cong Textiles - Investment - Trading JSC, Vice Chairman of the Vietnam Textile Association shared a series of green activities that the company has been persistently implementing for many years. "Every year, in addition to revenue and profit plans, Thanh Cong Textiles also sets specific plans for sustainable development strategies, and commits to customers to reduce how many tons of carbon to assert the company's determination in minimizing environmental impacts" - said Tung.

Accordingly, factories must invest in wastewater treatment, chemicals, and reduce energy consumption by partially replacing coal used in boilers with biomass. Replacing 10% of coal with biomass will reduce 2,500 tons of CO2 emissions annually. "These figures are constantly updated on the company's website for customers to see continuous changes day by day" - said Tung.

In the steel production sector, Hoa Phat Group recently announced the completion of a greenhouse gas inventory audit according to ISO 14064-1:2018 standard. Hoa Phat said that this was one of the activities that steel and iron production companies must implement, laying the groundwork to meet other requirements when exporting goods to the world market, especially the European region. Therefore, this will be a significant advantage to help the company aggressively dominate the market with competitive prices.

By Nguyen Hien/ Ha Thanh

Related News

Minister of Finance: Efforts to increase revenue without affecting "health" of businesses

Minister of Finance: Efforts to increase revenue without affecting "health" of businesses

VCN - Minister of Finance Ho Duc Phoc stated that the Ministry of Finance has tried to find every solution to revenue without affecting the financial health and production and business of enterprises.
Increasing the value of rice grains from the project of 1 million hectares of high quality rice

Increasing the value of rice grains from the project of 1 million hectares of high quality rice

VCN - The implementation of the project of 1 million hectares of high-quality rice will contribute to promoting the transition from traditional farming methods to synchronous mechanization, developing large-scale, stable and long-term concentrated raw material areas, ensuring sustainable and effective farming quality and minimizing environmental pollution. Vietnam is also the first country in the world to build a large-scale project on sustainable rice production and reduced emissions.
Businesses have a "headache" because exported goods are smuggled into the market

Businesses have a "headache" because exported goods are smuggled into the market

VCN - The situation of some businesses and factories in Ho Chi Minh City losing exported goods, counterfeiting and imitating brands is causing many consequences for businesses.
Hanoi Customs: thoroughly addressing concerns of processing, export production, and export processing enterprises

Hanoi Customs: thoroughly addressing concerns of processing, export production, and export processing enterprises

VCN - Processing, export production, and export processing enterprises account for 65% of the total customs declarations and 85% of the total import and export turnover through the Hanoi Customs Department. Therefore, issues related to policies and procedures for these types of enterprises are of great interest and resolution by the unit.

Latest News

Imports and exports achieve more than US$270 billion

Imports and exports achieve more than US$270 billion

VCN - By mid-May, the country's total import-export turnover reached US$270.82 billion, according to the latest statistics from the General Department of Vietnam Customs.
Coffee output in 2023-2024 crop forecast to fall 20 per cent

Coffee output in 2023-2024 crop forecast to fall 20 per cent

Việt Nam’s coffee output in the 2023–2024 crop year is estimated to decrease by 20 per cent compared to the previous crop year, to 1.47 million tonnes, the lowest in four years.
Pharmaceutical industry sees slowing growth momentum

Pharmaceutical industry sees slowing growth momentum

After record profits and strong growth in 2023, the industry’s momentum faced limitations in 2024 due to rising raw material costs and increased market competition.
Agricultural and food businesses increased profits thanks to export recovery

Agricultural and food businesses increased profits thanks to export recovery

VCN - Many agricultural and food exporters have recorded positive business results thanks to the momentum from the recovery of major markets and solutions to enhance deep processing, helping to improve product value and business efficiency.

More News

The auto industry does not shrink from many challenges

The auto industry does not shrink from many challenges

VCN - In the context of the import tax reduction roadmap being implemented when Vietnam participates in commitments in Free Trade Agreements, the pressure of competition on the Vietnamese automobile industry is also increasingly fierce. Therefore, in addition to tax and fee support, many breakthrough solutions and policies are needed to create a boost for the auto industry.
Traceability helps improve product value

Traceability helps improve product value

VCN - Traceability of origin has been and is a mandatory requirement for Vietnamese goods when exporting to several markets. The application of information technology and the use of QR codes is an effective solution in traceability, increasing value and promoting product consumption, especially agricultural products.
Vietnamese pepper prices see strong upward trend

Vietnamese pepper prices see strong upward trend

The Vietnam Pepper and Spice Association has expected pepper prices to continue rising every week.
E-commerce boosts exports of Vietnamese products

E-commerce boosts exports of Vietnamese products

Digital platforms have played a key role in helping Vietnamese firms take their high-quality products to the world, insiders have said.
Hai Phong Port strengthen solutions to improve cargo handling capacity

Hai Phong Port strengthen solutions to improve cargo handling capacity

VCN - The flow of goods passing through Hai Phong port area has tended to improve recently.
Five trends in exporting through e-commerce

Five trends in exporting through e-commerce

VCN - On May 22, 2024, Amazon Global Selling announced the prominent cross-border e-commerce (CBEC) trends shaping Vietnam's online export economy. Concurrently, it launched phase two of the program "CBEC: The breakthrough era" in collaboration with the Vietnam e-Commerce and Digital Economy Agency (iDEA) under the Ministry of Industry and Trade.
Vietnamese firms urged to watch global trade policies

Vietnamese firms urged to watch global trade policies

Experts say Vietnamese firms should keep an eye on global trade moves by major economies to figure out how best to promote the consumption and export of products made in Việt Nam, in the context of a glut of cheap Chinese goods flooding the world market.
Vietnam’s tra fish export tipped to bounce back

Vietnam’s tra fish export tipped to bounce back

Vietnamese tra fish export has roared back to growth after a significant drop recorded earlier this year as countries have scaled up their imports, according to insiders.
FDI attraction in five months tops 11 billion USD

FDI attraction in five months tops 11 billion USD

More than 11.07 billion USD in foreign direct investment (FDI) was funneled into Vietnam during January-May, up 2% against the same time last year, according to the Ministry of Industry and Trade (MoIT)’s Foreign Investment Agency.
Read More

Your care

Latest Most read
Imports and exports achieve more than US$270 billion

Imports and exports achieve more than US$270 billion

By mid-May, the country's total import-export turnover reached US$270.82 billion, according to the latest statistics from the General Department of Vietnam Customs.
Coffee output in 2023-2024 crop forecast to fall 20 per cent

Coffee output in 2023-2024 crop forecast to fall 20 per cent

Việt Nam’s coffee output in the 2023–2024 crop year is estimated to decrease by 20 per cent compared to the previous crop year, to 1.47 million tonnes, the lowest in four years.
Pharmaceutical industry sees slowing growth momentum

Pharmaceutical industry sees slowing growth momentum

After record profits and strong growth in 2023, the industry’s momentum faced limitations in 2024 due to rising raw material costs and increased market competition.
Agricultural and food businesses increased profits thanks to export recovery

Agricultural and food businesses increased profits thanks to export recovery

VCN - According to data from the Ministry of Agriculture and Rural Development, agricultural, forestry and fishery export turnover in April reached 5.14 billion USD, an increase of 19.7% compared to April 2023.
The auto industry does not shrink from many challenges

The auto industry does not shrink from many challenges

VCN - In the context of the import tax reduction roadmap being implemented when Vietnam participates in commitments in Free Trade Agreements, the pressure of competition on the Vietnamese automobile industry is also increasingly fierce. Therefore, in addi
Mobile Version