During its foundation and development progress, Hapaco Yen Son JSC has undergone changes in its business lines and operation mode. However, the company has always maintained the tradition of being dynamic to become a successful enterprise in Yen Bai today.
Yen Son company was formerly known as the Service and Trading enterprise which was directly under the Office of Yen Bai People’s Committee. It was established in 1985 with major business lines in wood processing, precious stone mining and material trading (including oil and gas, auto parts). In May 1994, the Service and Trading enterprise was separated from the Office of Yen Bai People’s Committee and Yen Son Limited Company was founded with three founders, including Yen Bai forestry products processing and exporting company, Road, Bridge and Transport company and the Office of People’s Committee. After years of development and restructuring the organization and business operation mode, YENSONCO and HAPACO signed the Minutes of Liquidation which put a stop to the contract for Tran Yen Paper enterprise’s co-operation on 10th April 2006. Accordingly, Tran Yen Paper enterprise officially became dependent on YENSONCO.
Hapaco Yen Son has so far stabilized its production and trading activities, gradually proving its standing in both domestic and overseas market. Apart from paper manufacturing, the company also established a taxi centre, securities trading floor and stores selling silk paper. Providing educational services is in the company’s business plan as well, which can be seen as a brave development step. Mr Nguyen Van Huong, Director of the company, shared, “Taking advantage of being located in an area rich in agricultural and forestry products like Yen Bai, the company sets up a paper manufacturing workshop and exports its products to overseas markets. We also expand our business activities and generate jobs for labourers.”
Hapaco Yen Son is quick at grasping market demand and adapting to the market to grasp new opportunities. The diversification of its business lines and improving internal strengths have brought the company out of the most difficult period. Having a stable material source, Hapaco Yen Son decided to make in-depth investment, applying new technology in its production. It has large market for paper product consumption, among which is Taiwan, a major market for votive paper products for the dead. Paper roll and paper roll stand products are also the ones with firm standing in the domestic market.
Furthermore, in order to meet the increasing travel demand, especially travel by taxi, the company has set up a taxi centre. It now has some 50 taxis operating within the area. Yen Son Taxi has also recruited a professional and highly-cultured work force.
Recognizing difficulties at an early period and providing timely solutions have helped Hapaco Yen Son escape the difficult time and gain bigger year-on-year revenue. These results are attributed to strict management of the Board of Directors and tireless endeavours of all the staff working for the company.
Vu Hang
Vietnamese
