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.

Source: VCN

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..

Source: baochinhphu.vn