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| Donafoods’ products exported to EU |
With the reorganization of State owned enterprises (SOEs) in Dong Nai province, many SOEs have been merged to form strong corporations, such as Dong Nai Food Industry Corporation (Donataba), Sonadezi and Donafoods. The process has helped form large-scale enterprises with a total capital of hundreds of billions of dongs per enterprise. Therefore, their trading and production have been expanded and they generate annual revenues of thousands of billions of dongs. The highest annual revenues achieved by Donataba has been VND 4,300 billion and the company came first in State budget contribution of over VND 680 billion in 2006. Besides, Sonadezi reported revenues of over VND 1,600 billion with a before-tax profit of nearly VND 200 billion while Donafoods earned roughly VND 900 billion in turnover and US$ 63 million in export value last year. Especially, Tin Nghia company now has been transformed into a one-member company limited. It was recognized as Prestigious Exporter by Ministry of Commerce for three consecutive years and awarded the ISO Gold Cup 2006 by the Ministry of Science and Technology. Moreover, Quach Van Duc, General Director of the company has also been selected as typical entrepreneurs of Viet Nam in 2006. In 2006, Tin Nghia posted nearly VND 2,000 billion in revenues, of which more than US$50 million was export revenues. Tin Nghia targets a turnover of VND 2,000 billion in turnover and an export value of US$ 53 million for 2007. In order to cope with challenges brought about by Vietnam’s WTO entry, Dong Nai’s corporations target to become strong economic groups that will diversify ownerships and operate in multi- fields. Presently, Tin Nghia company is actively engaged in real estate trading, the development of tourism business and infrastructure development of industrial zones. Other business sectors of the company such as processing agricultural products for export, producing construction material and selling petrol, diesel …. are growing well and gaining profits. In addition, the company plans to establish a Joint-Stock Commercial Bank with a charter capital of VND1,000 billion in 2007.
Not only famous in the field of building and trading infrastructure in industrial zones and urban areas such as Bien Hoa 1 industrial park, Go Dau IP, An Phuoc IP and An Binh residential area, Sonadezi also expanded its business to other fields, like sea-port service, transport, providing water and training human resource…In 2007, Sonadezi will deploy big projects including Giang Dien urban-industrial area with 800 hectares, the project of expanding and upgrading two ports of Dong Nai and Go Dau, the building project in Nguyen Van Troi, Nhon Trach and Thien Tan water providing systems. This year, Sonadezi is expected to reach turnover of more than VND1,700 billion and contribute VND93 billion to state budget.
To achieve the growth target of more than 10 percent set for 2007 and the next years, Donataba is planning to expand production and business activities. Accordingly, the company needs to recruit more 200 laborers each year. Particularly, industrial production will account for around 60 percent of Donataba’s total turnover. The company aims to earn VND4,500 billion in turnover and contribute to state budget of VND690 billion. It expects over VND5,000 billion in revenues and VND767 billion in state budget contribution in 2008.
In the past years, Donafoods has been known as a high quality cashew nut exporter. But it didn’t stop there, the company has launched some new products like rubber, pottery, new medicine. The company hopes to increase its turnover to VND975 billion in 2007 from over VND800 billion in 2006, rise export turnover to US$52 million from VND38 million. It is planning to invest in the development of raw-material areas for processing and export to meet fast economic growth in the coming years.
With impressive figures on turnover, profit, export and state budget contribution in 2006, Dong Nai’s enterprises are entitled to hope that they will become strong economic groups in the near future. Accordingly, they need to set the targets of economic growth properly and handle well the relationship between speed, quality and efficiency in order to maintain steady and relatively fast economic growth. However, the largest challenge Dong Nai’s enterprises is confronted with now is lacking of human resource. To solve this problem, the enterprises need to further focus on training personnel to effectively implement their goals in the next time. Particularly, they should improve their recruitment tasks, encourage the training of high-skilled experts and create favorable conditions for the promotion of competent young staff .
Reported by Xuan Phu
