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.

Source: cafef.vn

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.