VILEXIM - Prestige and Reliability

Vilexim – Prestige and Reliability

The Vietnam-Laos Import and Export Company (Vilexim) was previously known as the Bien Gioi Import-Export Company (1967) and the Vietnam Import-Export Corporation (1975). In 1987, it separated and was renamed Vilexim with state funds of VND314.7 million, of which VND313 million is floating capital and fixed capital is a mere VND1.7 million. After constant efforts to expand the scale of business and seek new markets, the company now has business relations with partners in over 40 countries in various fields such as agricultural products, mechanics, textiles and handicrafts.

The company had to diversify its operations to stand firm against competition, said Vilexim director Nguyen Truong Son. Diversification helps minimise risks and quickly recover capital for reinvesting in production, he said.

Vilexim are now covering production, trade and services. Its annual growth has stayed at over 20 per cent. Export sales in 2002 reached US$10.4 million and were up 50 per cent in 2003 to US$15 million. This is the highest export profit since its establishment, making it one of 80 groups under the Ministry of Trade (MoT) which record the highest export turnover. Vilexim received an export bonus from MoT for three consecutive years (2001-2003) for creation of new products and new markets. At present, the company is also working on investment collaboration with Taiwan, Malaysia and China in labour export. In the future, it targets the Near Middle East, South Asia, and Southwest Africa for shipping rice, pepper and tea, and South Korea and Japan for fine arts handicrafts and woven sedge products.

Mr Son emphasized that prestige and reliability are the backbone principles followed by the company's staff to ensure the long term stable development of Vilexim.

• Thuong Huyen