Tin Nghia plans to increase investment and expand business

Tin Nghia Company invested in developing infrastructure in Nhon Trach Industrial Park 3

(ĐN) - “Dynamic, innovative-solidary, devoted-intelligent, skilled and spirited towards a prosperous future” was lesson drawn from experience of Tin Nghia Company’s Party Committee during the period of 2003-2005. This is also considered as slogan that will be adopted good business practices for the next period of 2005-2008. During the past years, the company invested in developing infrastructure in 2 industrial parks (IPs) in the province and building another 3 IPs. At the meeting yesterday July 19, the Party Committee emphasized that the company would continue to expand and grow its business into trading in real estate, offering customs declaration service, providing services of developing IPs. Besides, target areas of application include: education, culture, and tourism, healthcare. From 2003 until the end of 2005, the company expected to invest around 400 billion VND in in-depth development projects and extended businesses.

During the past 10 years, Tin Nghia, one of Vietnam ’s largest coffee exporting entrepreneurs was voted as Prestigious Exporter in the first quarter 2005 by customers. Other business sectors of the company such as petrol, diesel and services are growing well and gaining profits. During the period of 2003-2005, turnover of the company achieved 154% of the target to stand at 2,800 billion VND; export turnover value hit US$ 66 million, up 94% of the target. The company earned profits 432% of the target with total amount of 82 billion VND and contributed 68 billion VND to the State Budget, increased by 58% of the target.

With above achievements, Tin Nghia Company’s Party Committee set the target for the period of 2005-2008 to reach the annual turnover of 1,000 billion VND, hit the goal of 1,060 billion VND in 2005, 1,100 billion VND in 2006, 1,200 billion VND in 2007 and 1,300 billion VND in 2008; increase annual export turnover value to US$ 29-32 million and annual profits of 40 billion VND and annual investment capital of 280 billion VND. Especially, the company will contribute annually 25-28 billion VND to the State Budget. Besides, the company will operate with the application of parent company and subsidiaries model in order to continue growing its business and extending into new areas.

K. Loan