On October 2nd, Viglacera Corporation – JSC (HoSE: VGC) held a meeting to assess the production and business results of September, report on the summary of the first 9 months of the year, and implement the Q4 2023 plan.

Accordingly, in September 2023, the consolidated pre-tax profit of Viglacera Corporation reached 115% of the monthly plan, with the parent company’s pre-tax profit exceeding 112% of the monthly plan. In Q3, the consolidated pre-tax profit of the entire company was 565 billion VND, achieving 124% of the Q3 plan; the parent company’s pre-tax profit reached 503 billion VND, achieving 149% of the Q3/2023 plan.

Overview of the meeting

Accumulated for the first 9 months of the year, the consolidated profit reached 1,590 billion VND, surpassing the annual plan by 131%; the parent company’s profit was estimated at 1,694 billion VND, exceeding the annual plan by 129%.

The industrial real estate sector continues to be the key contributor to Viglacera Corporation’s Q3 and 9-month results for 2023, with a pre-tax profit estimated at 1,800 billion VND for the first 9 months of 2023 – completing 133% of the annual plan and increasing by 389 billion VND compared to the same period in 2022.

In the context of domestic construction materials facing difficulties, exports continue to show promising signs, reaching 33.6 million USD in the first 9 months, surpassing 151% compared to the same period. Among them, products such as sintered stone, tiles, building glass, and sanitary ware all recorded growth compared to the same period in 2022.

Regarding the Q4 2023 implementation plan, for the real estate sector, Viglacera will continue to focus on land compensation and infrastructure construction, boosting sales activities in housing and industrial projects, and expanding the development of new industrial parks and housing projects in the coming years.

In the construction materials sector, Viglacera will review product groups, ensuring products are suitable for the market in terms of quality, features, prices, and actual demand. Additionally, Viglacera will expedite the introduction of high-value products to the market, including products like sintered stone and ultra-clear glass.

Images of exported Sintered Stone packages at Viglacera’s Factory in Ba Ria – Vung Tau province

In Q4, Viglacera will continue to carry out procedures for the state’s divestment at the company, following the guidelines in Document No. 2020/BXD-KHTC dated May 22, 2023, from the Ministry of Construction. At the same time, we will develop the production and business plan for 2024 and the 5-year plan for the 2024-2028 period.

Source: http://www.viglacera.com.vn

The task force led by the Minister and Chairman of the Government Office conducted a field survey on the coastal road and worked with Thai Binh province to listen to local difficulties and problems, record suggestions and proposals of the province to report to the Prime Minister to continue to find solutions.

Before working with the leaders of Thai Binh province, Minister and Chairman of the Government Office Tran Van Son conducted a field survey of Thai Binh coastal road, the section passing through Thai Thuy commune, Thai Binh province (Km 09+076.47 – Km 43+577.63).

After the survey, Minister and Chairman of the Government Office Tran Van Son worked with leaders of Thai Binh province. Also chairing the meeting were the Chairman of Thai Binh Provincial People’s Committee Nguyen Khac Than and representatives of the Ministries: Planning and Investment, Industry and Trade, Finance, Transport…

To continue to grasp the situation, difficulties and obstacles to promptly resolve according to authority or report to the competent authorities, the Task Force conducted a field survey on the coastal road of Thai Binh province to understand the difficulties in the construction investment of key works and projects. At the same time, they continued to work with leaders of Thai Binh province to listen to reports and discuss local difficulties and obstacles in the process of implementing socio-economic development tasks, especially the current situation of production and business, investment and development of strategic infrastructure, import and export and solutions, proposals and recommendations to competent authorities.

Thai Binh province is currently focusing on removing difficulties for key projects, especially inter-regional traffic projects such as the coastal road, Thai Binh City – Nghin Bridge Road, southern ring road and Ninh Binh – Hai Phong (CT08) expressway… Of which, CT.08 expressway has a total investment capital of over 18,800 billion VND, expected to be completed and submitted to the Prime Minister for approval in October 2023 and urgently plans to take the next steps to start construction in 2024. The coastal road in Thai Binh province has a total estimated investment after adjustment of VND 4,770 billion. The construction volume is estimated at 70%, and the investment policy adjustment documents are being completed. The province is reporting to competent authorities to allow the pilot application of the policy on the ratio of State capital participating in PPP projects to remove obstacles in the process of adjusting investment policies. The province will direct to speed up progress, soon complete and put into use (expected in 2024).

Source: https://baochinhphu.vn

Under the direction of VCCI, on the morning of September 22, Dien Dan Doanh Nghiep Magazine organized a Forum for sustainable development of the real estate market and awarded certificates for LIVABLE PROJECTS 2023.

The “Livable Project” award honors projects with prestigious quality and livability that ensure all strict requirements of standards on planning, architecture, fire prevention and fighting, technical, social infrastructure and especially resident satisfaction.

Based on the voting results of Dien Dan Doanh Nghiep Magazine readers and the evaluation of the Voting Council, Thang Long Green City social housing project, jointly run by Hanoi Housing Development And Investment Corporation (HANDICO) and Viglacera Corporation – JSC as the developers, was honored to receive the “Livable Project” award in 2023.

This is the first time that social housing projects are assessed for livability. This aims to contribute to responding to the Project “1 million social housing apartments for the period 2021 – 2030” according to Decision 338/2023 of the Prime Minister.

This will contribute to encouraging the development of more social housing projects in the future to create conditions for social policy beneficiaries and low-income people to not only have accommodation but also have a place worth living. This is the thing that Viglacera Corporation has been focusing on for many recent years.

On September 16, 2023, at Pullman Saigon Center Hotel, Viglacera Corporation – JSC (VGC) was officially honored in the category of “Top 50 Most Effective Business Companies in Vietnam 2023”

The “50 Most Effective Business Companies in Vietnam” (TOP 50) ranking is a valuable and prestigious ranking compiled by Nhip Cau Dau Tu Magazine with consultation from economic and business experts from Harvard University to search and honor effective business companies in the Vietnamese stock market.

Viglacera Corporation (VGC) respectively achieved a 13.0% compound annual growth rate (CAGR), 15.0% return on equity (ROE) and 115.0% return on stock (Stock Return).

TOP 50 is implemented on the basis of measuring business results of companies for 3 consecutive years, based on 3 growth indicators: revenue, return on equity (ROE) and return on shares. Measurement results aim to objectively evaluate the enterprise’s management capacity.

Certificate of “Top 50 most effective business companies in Vietnam” 2023 of Viglacera

Based on the above evaluation criteria, Viglacera Corporation (VGC) respectively achieved a 13.0% compound annual growth rate (CAGR), 15.0% return on equity (ROE) and 115.0% return on stock (Stock Return).

Viglacera’s representative received the certificate of “Top 50 most effective business companies in Vietnam” 2023

Viglacera, with more than half a century of operation, has continuously researched and developed green building materials. The company understands the importance of building sustainability through environmentally friendly products. Proud to apply modern and advanced production technologies in the Vietnamese market, Viglacera meets strict standards in strategic markets such as the US, Europe and many other countries.

Currently, Viglacera’s products have reached more than 40 countries and territories worldwide. With its current orientation, using advanced production technologies and nearly 100% recyclability, Viglacera is committed to strongly contributing to efforts to reduce carbon emissions and working towards the Net Zero goal by 2050.

2023, a year full of turmoil, witnesses many challenges from the business environment and macro management policies. Despite facing many difficulties, Viglacera still stands firm, proving its sustainability and pioneering position in the construction materials industry. As of August 2023, the accumulated consolidated profit of the Corporation in the first 8 months of the year reached 121% of the yearly plan; the parent company’s profit alone reached 143% of the August plan and the cumulative first 8 months of the year reached 117% of the 2023 plan.

The development of a law on IPs and EZs became pressing to improve the legal framework and ensure consistency in policies to create a favourable investment climate and promote production and business.

The Ministry of Planning and Investment is seeking public comments for a draft law on industrial parks (IPs) and economic zones (EZs) to create breakthroughs for the development of IPs and EZs in the context that Vietnam aims to increase high-quality investment.

The ministry said after 30 years of development, IPs and EZs have contributed significantly to the socio-economic development of Việt Nam and the country’s industrialisation and modernisation as well as creating jobs, improving human resource quality and increasing productivity.

However, there have been a number of problems arising during the development of IPs and EZs, the ministry said.

The ministry pointed out that limitations in planning and capital attraction, coupled with slow renovation of IP and EZ models, failed to meet requirements.

Linkages between IPs and EZs and with outside areas remains limited while the development of IPs and EZs has lacked sustainability and balance in economic, environmental, and social development. In addition, land use efficiency has remained low, the ministry said.

The limitations were caused by a number of reasons, one of which was an incomplete institution and legal framework related to IPs and EZs. The IPs and EZs need breakthrough developments to set a new development direction, the ministry said.

According to the ministry, the legal framework regulating the operation of IPs and EZs has not seen fundamental changes. Vietnam only has a decree on managing IPs and EZs while the operation of IPs and EZs relates to many other sectors, including planning, investment, enterprise, land, construction, environment, housing, and labour.

This is causing a lot of difficulty in the development of IPs and EZs towards new models, the ministry said.

The investment incentives and support policies of Việt Nam in general and of IPs and EZs in particular are not effective enough to direct investment flow, the ministry said.

The existing investment incentives for IPs and EZs have not taken into account the specific development conditions of each zone and there is no distinction between manufacturing and service sectors.

There is also a lack of policies to promote linkages of projects in IPs and EZs, which made it difficult to attract investment in IPs and EZs in localities with difficult socio-economic conditions, encourage the foundation of specialised zones or linkages among projects to establish value chains.

The inconsistencies in IPs and EZs policies also cause investors to hesitate to increase their investments.

The development of a law on IPs and EZs becomes pressing to improve the legal framework and ensure consistency in policies to create a favourable investment climate and promote production and business.

Under the draft, the ministry proposed six group of policies, including development orientations of IPs and EZs in line with regional and provincial planning, infrastructure, incentives for IPs and EZs in localities with difficult socio-economic conditions and incentives for projects which contributed to promotinge industry linkages, the promotion of new IP and EZ models, and incentives to enterprises and State management.

The draft law is expected to be submitted to the 15th National Assembly for consideration at the sixth meeting in October 2023 and passed at the seventh meeting in May 2024.

Source: https://baochinhphu.vn