In 2011, tight monetary policy, spiralling inflation, exorbitant interest rates and other problems wreaked havoc on operations of many businesses. However, there are still good opportunities in the tough times if businesses are able to anticipate the situation and prepare proper strategies. This is also the operating principle of the entire Saigon Industry Corporation - One Member Limited (CNS) in the context of economic difficulty. What CNS has achieved demonstrates that.
Ho Chi Minh City is seen as a symbol of dynamism and a leader of industry in Vietnam. Thus, the birth of the Saigon Industry Corporation in October 2006 was a landmark and a new driver for industrial development of Ho Chi Minh City in particular and the whole country in general. Regarded as a powerful corporation, CNS has made a relatively high annual growth of 17.51 percent over the past six years. Remarkably, the corporation has always been a top taxpayer since its incorporation, with accumulated sum of approximately VND13 trillion, representing an average yearly growth of 19.09 percent.
The maturity of CNS is illustrated in its current scope of activities powered by four factories, seven subsidiaries, and five affiliates primarily operating in four key industries of Ho Chi Minh City, namely food, mechanic engineering, chemical (plastic and rubber), and electronics - information technology. With its nonstop movement and development, CNS always focuses on developing existing businesses, investing in technological innovation and machinery and equipment modernisation, and improving product quality and competitiveness. In addition, CNS has stepped into some fields of advanced technologies and taken advantage of locally available material and human resources to manufacture rubber threads, precision mechanical moulds, uPVC piles and walls, wood plantation and processing (plank, Medium-density fibreboard - MDF, High-density fibreboard - HDF production), electronic chips, wind power and other projects.
Premium quality has sent its products to 25 countries and territories, including the United States, Argentina, Australia, New Zealand, the United Kingdom, the Netherlands, France, Germany, Denmark, Japan, Taiwan, India and Thailand. With its important ongoing projects, the corporation will turn out products in high demand. For instance, precision mechanical model production project will meet the demand of high-precision, plastic, rubber and mechanical industries. It will promote the process of industrialisation, enhance labour productivity and increase value-added content for the economy.
uPVC pile and wall production project is carried out under the direction of the Resolution of the ninth City Party Congress in a bid to fight against tides, flooding and landslide in the city. The project can hourly produce 550 kilos of uPVC panels used as wall embankments in place of reinforced concrete walls, stakes, soil or sandbags to prevent flooding. The product features quick installation in any weather condition, high durability and low cost. In the first stage, the corporation imports products to test uPVC stakes in Co Dua and Cau Ngang canals. The results are impressive in terms of durability, beauty and modernity.
The corporation is investing to build MDF wood production factory in Bac Kan province to tap local availability of timber supply at competitive prices and combine with its lumber processing plants it invested and put into operation in 2011 to form a closed production process. This is the most modern MDF production factory with technologies imported from Europe. It can manufacture products with a thickness of from 2.5 to 6 mm (totally imported now). Besides, it will also make HDF woods with high durability and resistance to moisture and heat. The factory will be put into operation in the third quarter of 2013 and play a significant role in economic development in the northwest provinces.
As regards chemical industry, the corporation has recently put into operation a new hi-tech rubber parts production plant Tay Bac Industrial Park, Cu Chi District, Ho Chi Minh City. This project of regional scale satisfies all quality and technical requirements of world-leading automakers and meets the demand for technical rubber parts by construction, road, bridge, electricity and water supply industries. With up to 90 percent of products for export, the project helps increase foreign currencies and balance forex payments. In addition, CNS units rubber and plastic production products exclusively supplies conveyor belts, steel-core belts, industrial and civil plastic products, and medical packages. Not only that, to assert its leadership in Ho Chi Minh City’s key industries, CNS is always busy with new potential projects like rubber thread project. It takes advantage of abundant domestic raw rubber sources to manufacture auxiliary products for garment and footwear industries and increase added value for Vietnamese products.
To date, CNS has proven to be a very good performer in Ho Chi Minh City with high and stable growth. Imbued with the business motto of “Bringing the best products and services for the community,” the corporation is currently carrying out two important projects believed to make strong breakthrough in industrial development in Ho Chi Minh City and the country in general. The first one is electronic chip and semiconductor manufacturing project and the second is southern key industrial factory.
Speaking of the importance of the ongoing projects, CNS Deputy General Director Vu Le Tung said: “Apart from in-depth industrial development projects, we are working hard to develop supporting industries and high-tech industries with medium and long term projects. We hope that the corporation’s activities will meet development requirements of the city's industry, actively contribute to the process of national industrialisation and modernisation, and create a competitive advantage for the country, because these projects will realise many government-supported policies and expectations like stepping up supporting industry development, taking advantage of available domestic materials to manufacture products in place of imports, applying high technologies to raise intellectual content and added value of domestic products to enhance competitiveness and boost exports.” Arguably, input availability and modern production technology are two factors determining the competitiveness of products on the market.
The current success and importance of CNS to the city’s industry can be seen in human resources; capital resources; modern equipment, machinery and technology; scientific and technological application and development; information technology; construction of advanced quality management systems; and right development strategies. With its endeavours, CNS will have more important projects to serve the industrialisation and modernisation of national economy.
Kim Bang
Vietnamese
