Sonadezi reports rate of profit/capital reaches up 20% per year

(ĐN)- To date, Corporation for the Development of Bien Hoa Industrial Zone (SONADEZI) and its local and foreign partners jointly invested to set up 3 shareholding companies and 2 joint-ventures.

Construction of residential area was invested by Sonadezi

(ĐN)- To date, Corporation for the Development of Bien Hoa Industrial Zone (SONADEZI) and its local and foreign partners jointly invested to set up 3 shareholding companies and 2 joint-ventures. Particularly, Sonadezi contributed each 51% of its shares to the charter capital of shareholding company and each 30% of shares in charter capital of the joint venture. Sonadezi invested in constructing 6 Industrial Parks (IPs) in the province. Until now, most of the IPs attracted much interest from local and foreign investors operating their business here. At present, the company has a total 350 billion VND of committed capital, generates over 200 billion VND in annual turnover and earns profits over 50 billion VND. Sonadezi’s profit/capital ratio hit over 20 % per year. The company contributes yearly over 20 billion VND to the State budget. In 2003, average productivity in term of revenue: 500 million VND/person/year.

These figures were reported at a meeting in praise of “Good Person, Good Action” for 2000-2004 period being held on July 15, 2005 by Sonadezi.

In the past five years, the Provincial Peoples’ Committee and the Ministries have presented certificates of merit to the company’s officials and employees and units under Sonadezi. In addition, Sonadezi was awarded the 2^nd grade Labor Medal by the Government; the company director received the 3^rd grade Labor Medal and its deputy director was given certificate of merit by Prime Minister. Addressing at the meeting, Vice Chairwoman of the Provincial Peoples’ Committee Dang Thi Kim Nguyen hoped that the company would perform well in operating with the application of parent company and subsidiaries model as it became parent company. Accordingly, 15 subsidiaries would be formally merged with the parent Sonadezi. She also emphasized that the company would face challenges if it adopted new business model. The company should further consolidate its leading position as one of largest company in Dong Nai and continually extend into oversea markets as well as strategy to broaden a diversified company’s base for building muilti-business. This helped developing a public recognition of the company’s tradename that enjoyed good reputation.

K.L