Many
enterprises have fallen into hardships due to crisis and inflation in 2011.
However, some local large brands such as Vinamilk, FPT or Viettel still
maintained growth rate and hit the revenue threshold of billions of US dollar.
Ending the fiscal year 2011, Vietnam Dairy
Products Joint Stock Co (Vinamilk-VNM) reported gaining revenue of over $1
billion (equaling to 22.279 trillion dong), rising 37% from the previous year,
marking the highest level since its establishment so far. Achieving the
threshold of $1 billion revenue by one year ahead of schedule, Vinamilk has
joined the group of 200 large companies in Asia-Pacific.
In addition, the company’s export turnover in
2011 reached over $140 million, rising 72% on year. VNM’s products have been
exporting to 15 countries in the world, including major stable markets of the
US, Australia, Canada, Russia, Turkey, Iraq, Philippines, Korea and Cambodia.
Not long ago, the company signed a contract to provided dairy products for
Thailand with total contract value of nearly $10 million for shipment in the
first quarter of 2012.
As assessed by these companies, crisis is also
an opportunity if you know how to take full this advantage. Thus, in the
context of unfavourable economic conditions, many businesses have clustered
psychology to ensure the safety, some others are still eager to find new
markets, even in places where are considered difficult. This strategy has
contributed to helping businesses survive healthily and thrive strongly despite
the unfavourable economy.
Mai Kieu Lien, Vinamilk’s CEO said that
instead of confrontation, Vinamilk has been active in joint ventures with
foreign partners to take full advantages of their strengths for the development
such as the distribution system worldwide and global marketing strategy of
large groups.
In early 2011, most forecasts had showed the
economy in 2011 would be more difficult than the recession in 2009. Even,
experts had predicted a stagnant prospect when a series of companies had to
face the possibility of merger or going bankrupt.
Recently-released list of Top 500 Vietnamese
largest enterprises in 2011 showed the number of companies gaining revenue of
billions of US dollar in 2011 decreased by 30% from 2010. The list also noted
about 50 state-owned enterprises and private firms in the group of billions of
US dollar revenue. These firms mainly operate in sectors of oil and gas,
electricity, telecommunication and banking operations. These fields had to bear
significant impacts from crisis and inflation and in comparison with 2010, the
number of companies in this group also decreased by 20%.
FPT Joint Stock Co (FPT)’s general director,
Truong Dinh Anh, said that the difficult economic situation did not create
opportunities for business to expand business lines but it was the appropriate
time for merger.
“We can acquire businesses that we never
thought previously we can afford” Anh said.
Anh revealed FPT will spend three trillion
dong on merger activities in 2012. At the same time, the company will still
focus on telecommunication sector and software business in 2012.
VietBiz24
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