From February 22-26, 2023, a high-level delegation of the United Left Movement Party (MIU), led by General Secretary Miguel Mejia, Minister of Regional Integration Policy of the Dominican Republic visited and worked at Viglacera Corporation – JSC.

Attending the working session on February 22, 2023, at the headquarters of Viglacera Corporation, on the Dominican Republic side, there were General Secretary of the United Left Movement Party – Mr. Miguel Mejia and the high-level delegation. Welcoming the high-level delegation of the Dominican Republic, there were Mr. Nguyen Anh Tuan – General Director of Viglacera Corporation, and the Corporation’s leadership.

At the meeting, Mr. Nguyen Anh Tuan – General Director of Viglacera Corporation shared about the scale of operation as well as the strengths of building materials and real estate development, especially industrial real estate inVietnam and Viglacera’s experiences of overcoming difficulties through times.

Mr. Miguel Mejia highly appreciated the development of Viglacera in recent years. In the context that the economies of countries around the world are affected by the crisis after the Covid-19 pandemic, Viglacera is a bright spot in terms of development. Dominicana large enterprises traveling with the delegation should refer to Viglacera’s model, experience in implementation and corporate governance.

With a long-term association and based on trust, determination, and sustainable development orientation, Mr. Miguel Mejia invited Viglacera to participate in survey, assessment and investment in Dominicana as soon as possible.

Mr. Nguyen Anh Tuan – General Director of Viglacera emphasized: “In the coming time, the Corporation will send a survey team to prepare investment plans and feasibility study reports on investment projects to invest in building material manufacturing plants and industrial parks in Dominicana”.

Thus, Dominica will be Viglacera’s second foreign investment destination after Cuba.

In the coming time, with the attention of senior leaders of the Dominican Republic, Mr. Tuan expressed his expectation that there will be good cooperation between the two countries, especially enterprises of Dominicana and Vietnam in economic trade and investment development.

Within the framework of this visit, in order to learn more deeply and intuitively about Viglacera’s production and business activities, the high-level delegation of the Dominican Republic visited factories in the field of ceramic tiles, sanitary ware and ceramics as well as Viglacera’s Industrial Parks.

In particular, on the National Day of the Dominican Republic February 27, 1844 – February 27, 2023, Mr. Nguyen Van Tuan – Chairman of the Board of Directors of Viglacera Corporation, together with leaders of Viglacera Corporation attended the first flag raising ceremony at the Embassy and the 179th Anniversary of the Independence Day of the Dominican Republic.

Mr. Nguyen Van Tuan – Chairman of the Board of Directors of Viglacera Corporation took a photo with Ambassador Extraordinary and Plenipotentiary of the Dominican Republic Jaime Francisco Rodríguez.

Dominican General Secretary Miguel Mejia also believed that with the capacity and experience gained from investment projects in Cuba, Viglacera will have many opportunities to succeed in the Dominican market as well as in the Caribbean countries. The Dominican government will create all conditions to support and connect Vietnamese-Dominican enterprises, creating a foundation for the deepening cooperation between the two States in the coming time.

According to the report on production and business activities in January 2023 presented by the Planning and Investment Board, the pre-tax consolidated profit of the Corporation reached 102% of the monthly plan, of which the Parent Company reached 116 % of the monthly plan and 35% of the first quarter plan. Consolidated revenue of the Corporation reached 104% of the monthly plan and the parent company’s revenue reached 112% of the monthly plan. Real estate, industrial park infrastructure leasing still maintained well, contributing largely to the general results of the Corporation; construction materials sector still faced difficulties in January 2023.

Overview of the briefing session

During the Lunar New Year 2022, the Corporation’s Trade Union in coordination with the units in the Corporation well implemented the regimes and policies for employees; ensure employees enjoy the Lunar New Year joyfully and safely; The units did well on duty of production, safety, and fire prevention. The number of employees returning to work after Tet holiday was fully and on schedule.

Commenting that the market in the first quarter of 2023 is still facing many difficulties, Mr. Nguyen Anh Tuan, General Director of the Corporation directed: “The parent company reviews mechanisms and policies to remove difficulties for units, focusing on complete processes and regulations; strongly implements decentralization and decentralization to create favorable and proactive conditions for units and leaders in charge of regions in solving work; units carefully prepare conditions to reach capacity and quality immediately after restarting production; organize production to order not to increase inventory; strengthen debt collection to ensure cash flow for production and business activities; well plan and prepare the conditions to hold the Annual General Meeting of Shareholders in 2023”.

In 2022, with the drastic and flexible management of the Corporation’s Board of Directors and the consensus of all employees, Viglacera has completed and exceeded the main targets, continuing to affirm its position as the leading enterprise in the construction industry. Let’s take a look at Viglacera’s achievements in 2022.

Exceeding the annual plan target

The results of production and business activities in 2022 of the whole Corporation have achieved and spectacularly exceeded the main targets assigned in the General Meeting of Shareholders. The consolidated pre-tax profit of the whole Corporation was estimated at VND 2,288 billion, reaching 135% of the year plan, up 48% compared to 2021, of which the pre-tax profit of the parent company was estimated at VND 1,722 billion, up 44 % compared to the plan in 2022 and up 50% compared to 2021.

Always affirming the leading brand in the Construction industry

With the orientation of building and implementing a sustainable growth strategy, Viglacera has been constantly trying to improve product quality, applying high technology and smart technology to research and develop green and environmentally-friendly products. Recorded in 2022, Viglacera was honored to receive many prestigious awards in the field of Construction such as National Brand; Top 10 strong brands 2022 in Construction and Building Materials; ranked 94th in the Top 500 Most Profitable Enterprises in Vietnam in 2022 and 48th in the Top 500 Most Profitable Private Enterprises in Vietnam in 2022. In addition, Viglacera is still a Vietnamese enterprise which is in the top 22 largest Ceramic tile manufacturers in the world.

Launching the Vasta brand – Pioneer in the production of sintered stone in Vietnam

Vasta Stone has the advantage of owning the most modern chain in the world SACMI Continua+ imported from Italy. This is also considered the most modern large-scale sintering stone production line in the world.

Thanks to a series of outstanding advantages in terms of hardness, high strength, stain resistance, scratch resistance, waterproof, anti-slip, superior fire resistance, and especially resistance to chemicals, chemical substances, common chemicals in the kitchen, swimming pool walls, stairs, sintered stone has become a high-class material that is preferred by many designers and architects around the world. With amazingly large dimensions of up to 160 x 320cm and flexible thickness from 6mm to 20mm, Vasta Stone with the technologies used brings unique specifications on a truly world-level product.

Strong development of Industrial Real Estate

In 2022, Viglacera recorded impressively growing real estate business results, pre-tax profit was estimated at VND 1,622 billion (reaching 133% of the year plan and growing 57% compared to 2021). This is also the field that plays a leading role and mainly contributes to the profit growth of the Corporation.

In the period of 2022 – 2023, according to the plan, the Corporation will survey and develop a number of new industrial parks in favorable locations. According to the orientation, by 2025, the Corporation will increase the total number of Viglacera-branded industrial parks to 20 with over 10 new industrial parks with a total increasing area of about 2,000 – 3,000 hectares to develop the fund of industrial land.

Pioneering in response to Government programs, implementing social housing and housing for workers projects

Viglacera has started construction of 2,000 apartments – Worker housing project in Yen Phong Industrial Park, Bac Ninh and 1,000 apartments in Dong Mai Industrial Park, Quang Ninh; The project in Dong Van IV Industrial Park has also been completed and is ready to go into operation; With the initiative in investing in the construction of worker housing in industrial parks, Viglacera contributes to the implementation of guidelines and policies of the Government and the Ministry of Construction on the development of social housing, housing for workers, especially when the situation of workers lack of stable accommodation is increasing with the speed of industrial development in Vietnam, thereby demonstrating Viglacera’s responsibility to the community as well as increasing the attractiveness of the industrial parks that Viglacera develops.

Export to European and American markets

Viglacera is the first Vietnamese enterprise to have a booth at the Cersaie Exhibition, Italy. This is the largest and most important international exhibition on technological innovation and technical innovation in the building materials industry, increasingly asserting its position as an ideal destination for investors, manufacturers, consultants, architects and designers operating in the field of construction, sales and production of ceramics and related industries.

Being the first enterprise to have a booth at the world’s largest exhibition to introduce the latest products to customers, Viglacera continues to affirm its leading position in the building materials industry in Vietnam. This is also the bridge to develop the business network, export Viglacera’s products to major countries in Europe and the US.

Production and business activities in the South have been promoted and effectively developed

In order to meet the market expansion and supply products directly in the Southern market, Viglacera has factories in the fields of Sanitary Ware (Viglacera My Xuan Porcelain, Viglacera Binh Duong Porcelain), Ceramic tiles (Viglacera Eurotile Brick Factory, My Duc Brick Factory) and Construction Glass (Viglacera Binh Duong Float Glass Company and Phu My Ultra Clear Float Glass Company). The factories have achieved efficiency which exceeds the plan in 2022.

Innovating and restructuring to be flexible and adapt to market developments

With difficult and unpredictable developments in the world and Vietnam’s economic situation, Viglacera has proactively restructured its activities to adapt appropriately; these measures have been bringing positive results to the company.

Accordingly, Viglacera focuses on restructuring to improve quality and human resource management; Diversifying sales channels/markets and customer files; Expanding and improving the quality of the sale points, increasing interaction directly and through modern platforms; Enhancing digitalization in sales activities and enhancing the actual experience for customers…

With these solutions, Viglaera’s business activities are more flexible, adaptable to market changes and more efficient.

It is anticipated that 2023 will be a challenging year for the world economy, including Vietnam. The question is how to overcome the upcoming headwinds.

HSBC increased its growth projection for Vietnam in 2022 from 7.6 per cent to 8.1 per cent. Despite describing 2022 as a year of rapid economic recovery and stating that Vietnam remains one of Asia’s leading growth economies, HSBC raised concerns about the economy’s risks in the coming years. Therefore, this bank predicts that Vietnam’s economic growth will be slowed, to only 5.8 per cent in 2023 rather than the previously predicted 6 per cent.

In fact, according to HSBC, after increasing by more than 17 per cent annually over the first three quarters of 2022, export growth slowed significantly in October 2022. November even saw a considerable reduction compared to the same period in the previous year.

According to the Ministry of Planning and Investment’s data, the country’s import-export turnover declined by 7.8 per cent in November compared to the same month in the previous year, when exports fell by 8.4 per cent.

The World Bank has raised concern as exports and domestic consumption, two key development drivers for Vietnam, have slowed. Ministry of Planning and Investment is likewise concerned about this, particularly when cash flow and liquidity issues make it difficult for companies to operate.

Vietnam’s economy faces several dangers and obstacles, particularly considering that the global economy is expected to become tougher in the next year. The American economic recession could significantly impact on the world economy, including Vietnam since the US is Vietnam’s largest export market.

While there are no strong indications that China may reopen its economy in the near future, Vietnam’s other main economic partner, Japan, has recently had inflation at a 40-year peak. The economy of Europe is also experiencing difficulties.

This situation poses a significant challenge for Vietnam since the miracle of exporting more than $700 billion in 2022 is likely to be disrupted. “The nation must prepare for the “hibernation period” of export”. HSBC commented.

(Source: Bao dau tu)