By the end of 2020, the shift of production from China as well as the benefits of Free Trade Agreements have attracted foreign investment capital into Vietnam, causing a sharp increase in the demand for industrial land across the country. Besides, production recovered strongly in the first months of 2021 leading to the possibility of explosive demand for factory construction in the future. In line with that trend, Viglacera’s industrial parks (IPs) continue to be a reliable destination for investors.
In the first 6 months of 2021, many businesses from China, Taiwan, Hong Kong, Korea, Japan and domestic enterprises contacted Viglacera to discuss the issue of leasing production land. It is estimated that the total leased land area in the second quarter of 2021 will reach 35ha, contributing to double the profit of Viglacera Corporation – JSC over the same period last year.
Viglacera’s Industrial parks receive the attention of many domestic and foreign investors
May recorded the return of the 4th wave of Covid-19 epidemic, which greatly affected businesses and people’s lives, especially in Bac Ninh and Bac Giang provinces. With 4 industrial parks developing and operating in Bac Ninh province, Viglacera calmly handled the situation, coordinated with the Provincial Steering Committee for Disease Prevention and Control, and joined hands to support community activities by support frontline doctors 1 billion dong, contribute 5 billion dong to the vaccine fund, turn the worker housing in Yen Phong Industrial Park into a medical isolation place As a result, operations in industrial parks both maintain stability and ensure compliance with epidemic prevention measures.
Through a series of urgent and timely response actions, Viglacera once again affirms the capacity and reputation of a leading investor with more than 20 years of experience in the field of industrial park development and operation.
Not only that, during the 4th outbreak, Viglacera quickly implemented new measures to maintain contact with investors when travel and face-to-face meetings were limited such as: building a physical visit virtual in industrial parks, using remote meeting equipment,…
Facing optimistic forecasts about economic recovery in the period of 2021 – 2022, investor Viglacera has been focusing resources on site clearance and infrastructure improvement in industrial parks to meet the land demand for industrial production, welcome the next wave of investment.
Location map of Viglacera’s industrial parks in Vietnam
Up to now, Viglacera has developed 11 industrial parks in Vietnam and one economic zone in Cuba, attracting nearly 15 billion USD in FDI from more than 300 domestic and foreign enterprises, creating jobs for tens of thousands of people. labor in the region. Thanks to the advantage of location in many provinces, Viglacera’s IPs bring diverse choices for investors, meeting the needs of each business. Industrial parks all have clean land and complete, synchronous and modern infrastructure, ready to welcome businesses to rent and build factories.
Proud to be the leading industrial park developer in Vietnam with more than 20 years of experience, Viglacera’s list of operating industrial parks includes: Tien Son Industrial Park (Bac Ninh), Yen Phong Industrial Park (Bac Ninh), Yen Industrial Park Phong 2C (Bac Ninh), Phu Ha Industrial Park (Phu Tho), Hai Yen Industrial Park (Quang Ninh), Dong Mai Industrial Park (Quang Ninh), Tien Hai Industrial Park (Thai Binh), Dong Van IV Industrial Park (Ha Nam), Phong Industrial Park Dien (Thua Thien Hue), Yen My Industrial Park (Hung Yen), ViMariel Economic Zone (Cuba). It is expected that the investor will start construction of Thuan Thanh Industrial Park (Bac Ninh) in 2021.
For more information, please contact the hotline: (+84) 888 25 22 88 | Website: www.viglaceraip.com
In the context of the complicated development of the Covid-19 epidemic, the tourism and service industries – the province’s strengths are almost “frozen”, in the processing and manufacturing industry is still having stable development. due to the effective implementation of epidemic prevention solutions. In Dong Mai Industrial Park, secondary investors still maintain high production capacity and added value of products. Thereby, making an important contribution to the province’s economic growth in 2021.
Dong Mai Industrial Park (Quang Yen Town) is currently the most synchronous industrial park in terms of infrastructure, the highest occupancy rate in the province is about 70%. The industrial park currently has 19 active investors, including 7 secondary investors who are involved in creating and manufacturing world-leading branded products.
In the context of the complicated development of the Covid-19 epidemic, Quang Ninh province has paid special attention to industrial parks by implementing effective epidemic prevention and control at the facility. Directly, Secretary of the Provincial Party Secretary Nguyen Xuan Ky went to inspect and direct. This helps secondary investors in Dong Mai Industrial Park feel secure, maintain production capacity, added high value of products.
Factory manufacturing wiring systems and electrical equipment clusters for cars Yazaki is the unit with the largest number of employees in Dong Mai Industrial Park, with more than 4,000 officers and workers. Safety factor for production at this moment is the top priority.
As a new unit operating in the industrial park for less than a year, the Foxconn Group’s S-Vietnam project is currently producing electronic components for the world’s leading brands. The unit aims to produce about 1 million liquid crystal displays and televisions with an export value of about 250 million USD in 2021.
Workers at Bumjin Electronics Factory have been fully informed and strictly followed the epidemic prevention and control process in production.
It is expected that the export value of enterprises in Dong Mai Industrial Park in 2021 will reach about 1 million USD, which is a typical example of the completion of the “double goal” in 2021 of Quang Ninh province.
In the list published in early June 2021, Viglacera Corporation (VGC) was voted in the Top 50 best listed companies on the stock market in 2021 by Forbes Vietnam.
The ranking of 50 best listed companies in Vietnam this year was announced by Forbes Vietnam in the context of the country’s efforts to fight the 4th wave of Covid-19 outbreak. The business results of listed companies over the past time partly show their bravery, ability to adapt, even boldly invest, and prepare to take advantage of development opportunities when the pandemic is over. As well as the effect from the support thanks to the loosening monetary policies, solutions to support businesses to restore production by the government, ministries and sectors.
Viglacera Corporation was officially listed on the Ho Chi Minh Stock Exchange (HOSE) in 2019
The companies in the list of honorees in 2021 are selected from the companies with the best business results, listed on the Ho Chi Minh City Stock Exchange (HoSE) and the Hanoi Stock Exchange (HNX), with a solid foundation, not only has good business results in 2020 but is also expected to be resilient in the context that the Vietnamese economy has faced the most challenges in the past 10 years.
“For more than a year of struggling with difficulties due to the pandemic, the business results of many businesses on the list show the bravery of entrepreneurs, the ability to turn around, and boldly invest to find opportunities, bring positive business results and contribute to the development of the economy”, a representative of Forbes Vietnam commented on this year’s list. Viglacera Corporation is one of 5 raw materials enterprises in this list.
Viglacera Energy Saving Glass production line
2020 is a year of crisis for the whole economy due to the impact of the global Covid pandemic, in that difficult time, Viglacera Corporation has firmly overcome and proved its intrinsic strength with outstanding results. remarkable. The Corporation’s profit reached VND 841 billion, up 12% of the plan, of which the parent company’s profit was VND 736 billion, up 23% of the plan. Consolidated revenue of the Corporation reached VND 9,433 billion, exceeding 14% of the plan, other expenses also basically followed the plan assigned by the General Meeting of Shareholders.
Sticking to specific orientations and goals throughout the implementation process, with the drastic direction and management of the Corporation’s leaders, the solidarity, attachment and high determination of the leadership, manager and employees of the Corporation, As a result, the Corporation has completed the targets of the production and business plan in May and the first 5 months of 2021.
The 50 best listed companies in 2021 are ranked from the selection of companies with the best business results, listed on the Ho Chi Minh City Stock Exchange (HSX) and the Hanoi Stock Exchange ( HNX). Most on the list are companies that have established a competitive position in the market, leading not only in their field of operation but also in the whole economy. Forbes Vietnam evaluates calculated data on the following criteria: compound growth rate of revenue and profit, ROE-ROC ratio and EPS growth for the period 2016-2020; Qualitative survey to assess the level of sustainable development of the enterprise: the company’s position in the industry, the source of profits, the quality of management, the prospect of industry development.
Evaluation data based on the audited financial statements of the enterprise, its dependent subsidiaries or having a low business position are not considered.
National Assembly Chairman Vuong Dinh Hue has asked for stepping up the vaccine strategy with a specific roadmap and measures to achieve herd immunity, thus laying an important foundation to catch up with the global economy.
He reiterated the Politburo’s stance on continuing to realise the dual goals of fighting the pandemic and ensuring macro-economic stability and the safety of finance-banking and public debts.
The leader suggested continuing with the 5K+technology message, considering vaccination a strategy; and enhancing international cooperation in seeking vaccine supplies.
In order to effectively perform socio-economic development policies and provide support for those hit by the pandemic, NA Chairman Hue asked the Government to soon issue a growth scenario, accelerate the disbursement of public investment, continue improving business environment, developing private and digital economy, and stimulating domestic demand while boosting collaboration to effectively direct fiscal-monetary policy, and soon bring the Resolution adopted by the 13th National Party Congress into life.
Lawmakers reported that the NA and its Standing Committee issued nine resolutions and documents to ease difficulties amid the pandemic.
As a result, payment of VND 99.2 trillion (US$ 4.3 billion) worth of added value tax, corporate and individual income tax, land lease for 57,000 business households and 128,600 firms has been extended, along with VND 19.3 trillion in special consumption tax for automobiles last year.
The Vietnamese economy will be the fastest growing in Southeast Asia this year at 6.7 percent driven by a manufacturing recovery and boom in trade.
The regional average will be 4.4 percent, a report released in May by the Asian Development Bank (ADB) forecast.
Vietnam’s GDP growth is expected to top 7 percent next year, also the highest in the region, which would average 5.1 percent.
Vietnam’s GDP is set to expand 6.5% in 2021, higher than the global average of 6%, and then rebound to 7.2% next year, according to the International Monetary Fund (IMF) in its latest World Economic Outlook report. Such growth would put Vietnam as the second fastest growing economy among five major economies of ASEAN (Indonesia, Thailand, Vietnam, the Philippines and Malaysia) along with Malaysia, and behind the Philippines at 6.9%, revealed the report.
“Vietnam’s economic fundamentals remain robust. The country has been one of the world’s best-performing economies during the pandemic; that said, we are closely watching the domestic COVID-19 situation,” said Tim Leelahaphan, economist for Thailand and Vietnam, Standard Chartered, in the bank’s recent Global Research report entitled “Vietnam – Strong performance continues this year”.
In forecasts published in April – when the 4th wave had not yet occurred in Vietnam, Oxford Economics, IMF, World Bank, HSBC are of the opinion that Vietnam’s economy would grow at 6.4%-6.6 %, this level is lower than previous forecasts at the end of 2020, Fitch Solutions only forecast at 7%.
Among international organizations, S&P Global Ratings gives the most optimistic forecast about Vietnam’s economic growth this year. In October last year, S&P expected Vietnam’s GDP growth to reach 11.2%. At the latest forecast on May 21 – when a new wave of COVID-19 occurred in Vietnam, this organization adjusted its forecast for Vietnam’s GDP growth in 2021 to 8.5%. However, this forecast is quite high compared to other organizations.
As a result, the Corporation’s profit in May reached 101% of the monthly plan, the accumulated 5 months achieved 69% of the annual plan and the profit doubled compared to the same period in 2020.
The results of recognizing the profit in May 2021 of the whole Corporation and the accumulated profit of the first 5 months of 2021 (unit: billion VND)
Sticking to specific orientations and goals throughout the implementation process, with the drastic direction and management of the Corporation’s leaders, the solidarity, attachment and high determination of the leadership team, As a result, the Corporation has completed the targets of the production and business plan in May and the first 5 months of 2021.
May recorded the return of the 4th Covid-19 epidemic with a great impact on businesses and people’s lives, especially a great disturbance in Industrial Parks, including Yen Phong and Tien Son industrial parks in Bac Ninh.
Calm before handling situations, Viglacera actively cooperated with Bac Ninh Province’s Steering Committee for Epidemic Prevention and Control, jointly supporting activities such as making the worker’s housing area in Yen Phong a place to isolate medical workers. In fact, Viglacera has donated 1 billion VND to frontline doctors, and also contributed 5 billion VND to the Vaccine fund. Currently, activities in Viglacera’s IPs still maintain assurance and compliance with epidemic prevention measures.
For the building materials segment, Viglacera’s production plants are currently being strictly followed by epidemic prevention measures, ensuring stable production and business activities. Commercial business activities still receive cooperation from the entire customer system nationwide, besides, Viglacera’s e-commerce sales on www.viglacera.vn are being maximized.
In addition to the general difficulties of the whole society, Viglacera still found solid directions, maintained and strongly developed production and business activities in both the fields of Real Estate, Industrial Parks and Building Materials. The results of May will be the driving force behind the Corporation’s plans for June and the first 6 months of 2021.
On the evening of April 27, 2021, Viglacera Corporation – JSC was honored to receive the award “Top 10 prestigious Industrial Real Estate Company in 2021” – a result based on independent research and evaluation of the joint stock company. Vietnam Report (Vietnam Report).
Possessing more than 20 years of experience, Viglacera is one of the first enterprises to deploy concentrated industrial parks in Vietnam. Up to now, 11 industrial parks have been put into operation, including 10 industrial parks in Vietnam and one industrial park in Cuba, with a total scale of more than 4,000 hectares, attracting more than 300 investors around the world, including many Prestigious brands such as: Samsung, Orion, Canon, Foxconn, Hyosung, Qisda, Toyoda Gosei… The places Viglacera goes to always become a reliable destination for investors, and make important contributions to the local socio-economic development.
Mr. Nguyen The Chinh – Director of Real Estate Department representing Viglacera Corporation – JSC received the award
On March 19, 2021, Vietnam Report Joint Stock Company (Vietnam Report) officially announced the Top 10 Reputable Real Estate Companies in 2021.
Top 10 reputable companies in the real estate industry are evaluated and ranked based on 3 main criteria: (1) Financial capacity shown in the latest year’s financial statements; (2) Media credibility is assessed by Media Coding method – encoding articles about the company on influential media channels; (3) Survey of stakeholders to be conducted in February and March 2021.
On the morning of April 27, Viglacera (HoSE: VGC) successfully organized the 2021 Annual General Meeting of Shareholders. The meeting evaluated the business performance in 2020 and the plan for 2021; approving the 2021-2025 5-year plan; Electing additional and replacing members of the Board of Directors and the Supervisory Board.
Overview of the 2021 General Meeting of Shareholders of Viglacera Corporation – JSC
2020 is a year of crisis for the whole economy due to the impact of the global Covid pandemic, in that difficult time, Viglacera Corporation has steadily overcome and demonstrated its intrinsic strength with the results noteworthy. Profit of the whole corporation reached 841 billion dong, up 12% of the plan, of which the parent company profit was 736 billion dong, up 23% of the plan. Consolidated revenue of the Corporation reached 9,433 billion VND, exceeding 14% of the plan, other expenditures also basically followed the plan assigned by the General Meeting of Shareholders. In 2020, Viglacera will pay 11% dividend.
In 2021, the plan is to make a profit of 1,000 billion VND, promoting the industrial park’s real estate development
At the meeting, shareholders unanimously approved the business plan for 2021 with pre-tax profit of the parent company and consolidated at VND 750 billion and 1,000 billion, 2% and 19% higher than 2020. total consolidated revenue is 12,000 billion, up 27% compared to 2020. The company plans to submit to shareholders 2021 dividend at the rate of 12%. Viglacera will continue to invest in two main areas: Real Estate and Building Materials.
Mr. Nguyen Anh Tuan – Deputy General Director of the Corporation presents the report of the Board of Management at the meetin
With the real estate segment, the Corporation continues to invest synchronously in infrastructure in industrial parks, enhance land fund development, synchronously develop infrastructure, utilities and develop ancillary services and branding Viglacera industrial parks, making full use of the land fund. Viglacera also aims to select customers who are friendly investors and manufacturers for sustainable development. In addition, the Corporation will continue to develop social housing, worker housing, commercial housing projects and resort resorts.
In the building materials sector, Viglacera invests in depth, enhances management technology, aims at high quality products, aesthetics, added value of products and environmental friendliness. Developing new product sets, in accordance with customer trends and tastes, updating new advanced technologies into production. For inefficient units in the group of baked clay bricks, the Corporation will actively divest capital
Mr. Tran Ngoc Anh – Deputy General Director of Corporation, Member of the Board of Directors of Corporation presents the Report of the Board of Directors at the Meeting
In 2021, Viglacera will continue to strongly implement the restructuring of governance from the parent company to its subsidiaries to proactively overcome difficulties and challenges, improve production and business efficiency.
Plan to grow 13% profit / year in the next 5 years
In the period of 2021-2025, Viglacera aims to build into a strong economic group in both construction materials and real estate investment, maintaining Viglacera as a strong national brand and into International level.
Mrs. Pham Ngoc Bich – Head of the Supervisory Board of the Corporation presents the Report of the Supervisory Board at the meeting
The consolidated pre-tax profit of Viglacera aims to grow 13% / year and only 9% / year for the parent company. Consolidated revenue is expected to increase by 11% / year on average, and 10% for the parent company alone. At the same time, the company aims to have a total export value of 240 million USD, an increase of 1.7 times compared to the period 2016-2020.
To implementation of the above plan, Viglacera will continue to invest in the next 5 years with a total value of 20,300 billion VND with the whole Corporation, in which the parent company is 13,300 billion VND.
The Corporation also plans to let the State shareholders withdraw all their shares, at the same time continue to sell their contributed capital in inefficient member companies, increase the charter capital of the Corporation to a number of units to invest in production and business development according to the development strategy. The Corporation also established new limited liability companies to manage the Corporation’s capital in each group of fields of production and business activities, and joint stock companies to implement new projects.
Elect to replace members of the Board of Directors and the Supervisory Board
Mr. Nguyen Van Tuan – Chairman of the Board of Directors presents flowers and acknowledges contributions of Mr. Luyen Cong Minh and Mrs. Pham Ngoc Bich in recent years
Regarding human resources, Viglacera’s General Meeting of Shareholders approved Mr. Luyen Cong Minh’s resignation from the Board of Directors and resigned from the position of Vice Chairman of the Board of Directors according to personal expectation; Approve the resignation of Mrs. Pham Ngoc Bich, quit the Supervisory Board and resign from the position of Head of Supervisory Board of the Corporation to accept other duties.
The meeting elected Mr. Nguyen Trong Hien to be an independent member of the Board of Directors and Mr. Tran Manh Huu in the Supervisory Board.
The new Board of Directors for the term of 2019 -2024 was launched
The state may divest all Viglacera capital by 2022
Mr. Dau Minh Thanh – Director General of Enterprise Management Department, Ministry of Construction made a speech at the meeting
Mr. Dau Minh Thanh – Director General of Enterprise Management Department, Ministry of Construction said that VGC is the leading enterprise that the Ministry is representing the State capital. Although the Ministry of Construction only holds 38% of VGC’s capital, the company’s business activities are always developing stably, paying high dividends. Viglacera is also the only enterprise in the list of the Ministry of Construction to successfully hold the General Meeting of Shareholders on time and is also the only enterprise eligible to be listed on the HoSE.
Regarding the State divestment plan at VGC, the representative of the Ministry of Construction said that if there was no disease of Covid-19, the divestment would be completed in 2020. However, due to the epidemic, this work is slowing down. However, the Prime Minister has basically approved that the State will no longer hold capital at VGC and this divestment may take place in 2022.
The Presidium answered questions during the discussion session at the Meeting
After discussing and answering issues related to Viglacera’s investment plans and capital raising in fields and companies in the coming time, Viglacera’s 2021 Annual General Meeting of Shareholders has ended same day morning. The meeting was successful.
On April 25, in Hanoi, the awarding ceremony of the National Quality Award 2019-2020 and the Asia-Pacific International Quality Award took place. Viglacera Corporation – JSC is one of four enterprises awarded the Asia – Pacific International Quality Award. The above honorary award is a recognition and affirmation of Viglacera’s reputation and position as a leading enterprise in the field of building materials production and real estate investment business on the path of regional development, towards the world.
Viglacera Corporation – JSC is the only Vietnamese enterprise to win the World Class Award for the large-scale production.
On the basis of the National Gold Quality Award 2019 – 2020, Viglacera is the only building material manufacturing enterprise nominated by Vietnam to attend the Asia – Pacific International Quality Award 2019 – 2020. Through the rigorous evaluation and scoring process of the APQO Organizing Committee and surpassing hundreds of selected enterprises from countries in the Asia-Pacific region, Viglacera was honored in the highest category: World Class Award for large-scale production.
As the only Vietnamese enterprise to have won the World Class award for large-scale production, Viglacera confidently affirms the quality of sanitary ware products, ceramic tiles, and construction glass that are applied “green” technology. The world’s most advanced production technology line is expected to soon become the pride of high-quality Vietnamese products of consumers in the domestic market as well as in fastidious markets such as Japan, the US, and the EU.
To achieve the National Quality Award in 2019 – 2020 and the Asia-Pacific International Quality Award, Viglacera has always strived to successfully complete the targets in 2019 and 2020. For many years, Viglacera has always actively invested in machinery, applied the latest production standards and technologies, built control processes of international standards to monitor product quality, and brought it to market. products of high quality, environmental friendly, meet the needs of domestic and export customers.
In the field of real estate, Viglacera is a leading prestigious investor in the field of industrial park infrastructure and social housing, contributing to the socio-economic development in the localities where the project has been implemented. Viglacera commits to continue to do its best, improve business efficiency, improve production efficiency for future development, create competitive advantages in the market, win the trust of domestic and foreign customers.
Viglacera’s booth at the exhibition attracted the attention of visitors
Not only is a strong brand in the domestic market with a nationwide retail network, Viglacera is also a branded enterprise in many countries around the world. Besides investment, research and application of advanced scientific and technical achievements in production, Viglacera Corporation also expands investment activities and penetrates into ASEAN, Japan, and other markets. The US, EU or invest in industrial parks in Cuba…, are trusted and selected by foreign partners and currently have a large export turnover in the field of construction materials in Vietnam. Currently, Viglacera’s products are being supplied and consumed in more than 40 countries and territories around the world.
Until now, Viglacera brand has been built associated with new products, product quality, environmentally friendly products, bringing maximum convenience to users and especially bearing Vietnamese cultural imprints. The National Quality Award and the Asia-Pacific International Quality Award will be the driving force for Viglacera to continue to create and further develop the Vietnamese brand in the international with the strategy of becoming a multinational corporation in the future.
The National Quality Award has been officially implemented since 1996. Up to now, there have been 2,030 enterprises winning this award. The famous names that won awards in 2019 and 2020 can be mentioned as: TH Dairy Food Joint Stock Company; Tien Phong Plastic Joint Stock Company; Hoa Sen Joint Stock Company; Viet Tri Chemical Joint Stock Company; Nestle Vietnam Co., Ltd; CP Vietnam Livestock Joint Stock Company; Viet Duc Steel Production Joint Stock Company; Luong Quoi Coconut Processing Joint Stock Company; Ca Mau Fertilizer Joint Stock Company; Sao Thai Duong Joint Stock Company; Viglacera Corporation – JSC…
4 enterprises won the Asia-Pacific Quality Award, including: Viglacera Corporation – JSC (Hanoi City); KIZUNA JV Joint Stock Company (Long An Province); Tan A Production and Trading Company Limited (Hanoi City); Center for producing electronic measuring equipment – electricity in Central – branch of Central Power Corporation (Da Nang city).
On 19 April 2021, the Vietnam Government issued Decree 52/2021/ND-CP providing extensions of deadlines for the payment of Value Added Tax (VAT), Corporate Income Tax (CIT), Personal Income Tax (PIT) and Government Land Rent in 2021. This Decree, which took effect on 19 April 2021, is significant as it provides solutions designed to support businesses and individuals impacted by the Covid-19 crisis and offers an extended schedule and timeframe for tax settlements..
A month since Decree No. 52/2021/ND-CP was issued, a total value taxes and land rental fees extended by the tax sector in May is estimated at VND10,500 billion (including VND6,400 billion of VAT and VND4,100 billion of land rental fees).
Decree 52 stipulates taxpayers subject to extension shall submit the application for the extension for all taxes at the time for submitting tax dossiers. The deadline for the submission of the application is not later than July 30.
The pandemic hit Viet Nam’s economy hard, but the nation has taken decisive steps to limit both the health and economic fallout, according to the International Monetary Fund (IMF)’s latest annual assessment of Viet Nam’s economy.
Swift introduction of containment measures, combined with aggressive contact tracing, targeted testing, and isolation of suspected COVID-19 cases, helped keep recorded infections and death rates notably low on a per capita basis, the IMF highlighted.
Viet Nam entered the pandemic with solid economic fundamentals and policy buffers, although some structural challenges remain to be addressed, the IMF’s annual assessment referred, adding that he country made considerable progress in consolidating public finances prior to COVID-19. The build-up of these fiscal, external, and financial buffers prior to the pandemic made Viet Nam more resilient to the shock.
The IMF suggested macroeconomic policies need to remain supportive in 2021 to ensure a resilient and inclusive recovery and policies should aim at reducing labor informality by improving labor skills and lowering hiring/firing costs for formal workers, and encouraging firm formalization.
A sustained recovery also hinges on safeguarding financial stability, the annual assessment stressed, adding that continued strong supervision, together with timely efforts to address problem loans and strengthen regulatory and supervisory frameworks, will help address financial system risks.
More decisive reforms are needed to make the most of Viet Nam’s considerable growth potential, the IMF recommended.
Meanwhile, priority should be given to improving the business environment and ensuring a level playing field for small and medium-sized enterprises, with reforms geared towards reducing regulatory burden faced by firms, improving their access to resources, enhancing governance and access to technology and innovation, and reducing skills mismatches..
In February, Viglacera Corporation’s profit reached 227% of the monthly plan and increased 83 billion dong over the same period – figures were recorded at the February 2021 briefing meeting. The parent company still performed well the leading role with the profit of 195% of the plan, the efficiency brought from the Real Estate and VIFG Float Glass group, the other indexes of the whole Corporation basically followed and exceeded the plan. In the first 2 months, the Corporation has achieved and exceeded the plan of Quarter I/2021.
Overview of the meeting
In addition to the data on financial indicators, in the early days of Tan Suu new year, Viglacera continuously received good investment signals when receiving investment licenses for new open industrial park, the interest in creating favorable conditions of local leaders on the investment and development of industrial park to focus on the economic spearhead of the province. Housing for workers projects have also been restarted with a combination of projects under the Vietnam General Confederation of Labor.
General Director Nguyen Anh Tuan directed at the meeting
At the meeting, General Director Nguyen Anh Tuan directed: the positive results of the first 2 months of the year will be the motivation for the whole corporation to strive to fulfill the business and investment plan of 2021 and 5-year plan 2021-2025.