SCG Believing in New Miracle for Vietnam

As an integral element of the economy, FDI companies play an important role in boosting the country's economy and society. Especially long-standing FDI firms in Vietnam have even more outstanding commitments and contributions. Typically, SCG and its member companies have managed to overcome challenges, and obtain impressive achievements in many ways in the recent tough time to confidently enter a new stage in a sustainable manner.

FDI enterprises and projects have contributed significantly to local and national socio-economic development. At present, they contribute more than 20% of GDP, about 25% of total investment funds, more than 70% of total export value, and about 28% of State budget revenue. At the same time, they also employ over 3.5 million workers and indirectly generate nearly 5 million jobs. They have inspired local businesses to upgrade technology, explore export markets and strengthen trade connectivity.

In order to achieve these impressive results, besides governmental leadership, the role of top-class FDI firms is extremely important and necessary. They not only make great contributions to the overall achievements of the FDI sector, but more importantly, their success stories also inspire others to learn and apply to their business.

With 25 years of presence in the Vietnamese market, SCG and its member companies are a typical example of “leading” FDI firms overcoming challenges, rising to seize opportunities and making a new miracle for Vietnam in the new era.

Overcoming crisis, making impressive business results

In July 2020, in the midst of a raging Covid-19 outbreak, the manufacturing sector was adversely affected but Binh Minh Plastic Joint Stock Company (affiliated to SCG) was honored with a Top 50 Vietnam Most Effective Business award in 2019 by Investment Bridge Magazine and Thien Viet Securities Company.

This award is dedicated to the most effective listed companies in Vietnam. Rating criteria were based on three-year business performance, focusing on revenue, return on equity (ROE) and earnings per share (EPS).

This is the 9th consecutive year that Binh Minh Plastic Joint Stock Company is named in the Top 50. This outstanding achievement results from persistent pursuit of product quality and productivity improvement strategy. Specifically, the company has applied top quality management systems such as QMS, EMS, ISO 9001, ISO 14001 to all production lines. Equal product quality coupled with excellent customer service is the core of long-term success.

Rising to lead the world

Not only overcoming difficulties to have positive business performance, SCG's member companies are also at the forefront of sustainable integration trends. In October 2020, in the framework of the “ASEAN + 3 Business Forum” 2020, the year Vietnam assumed the ASEAN Chairmanship, the Vietnam - ASEAN Economic Cooperation Development Association named Prime Group Joint Stock Company (affiliated to SCG) one of 85 outstandingly prestigious enterprises in the country and the region. In particular, Prime Group was highly appreciated for its competitiveness for sustainable integration, making many contributions to national economic development and international relations.

The award is based on growth, policy sustainability, social security, technology development and environmental protection criteria. In these aspects, Prime Group, representing the domestic tile industry, met the criteria set by the organizers.

Currently, the company complies with corporate governance principles, ISO 9001: 2015 quality management systems, ISO 45001-2018 occupational health and safety management system, and IS14001:2015 environmental management system toward sustainable development goals.

Prime Group said that this achievement stems from the business strategy pursued for years. The group focuses on five factors: International Quality, Advanced Technology, Trendsetting, Construction Standards and Improved solutions for a better life.

With a sustainable business strategy and support from SCG, despite competitive pressure from imported European bricks or cheap Chinese bricks, Prime Group's products are not only distributed across the country but also overcome technical barriers to make inroads into selective foreign markets such as the United States, South Korea, Taiwan and the Philippines.

Persistent on the path to sustainable development

Promoting business and enhancing integration, SCG is also at the forefront of applying sustainable development strategies for all of its member companies. The group's efforts to launch many humanitarian and sustainable programs and projects have been highly appreciated and recognized by the community. Typically, in December 2020, SCG (Vietnam) Concrete Roof Co., Ltd was named the Top 100 sustainable business in 2020, based on the Corporate Sustainability Index (CSI), by the Vietnam Business Council for Sustainable Development (VBCSD).

Facing the ever-changing market needs, the firm has continuously invested in developing new products and modernizing production lines, in addition to improving operating processes towards environmental protection, creating a better workplace for employees and enhancing life quality of the local community.

Thanks to such ongoing efforts for sustainable development strategy, SCG Concrete Roof Co., Ltd achieved outstanding results in many ways. 2020 was the second consecutive year that the company was honored with the Top 100 most sustainable business certificate by VBCSD-VCCI, marking an important milestone on the path to sustainable development.

Despite challenges and upheavals in 2020, with outstanding achievements in all three aspects of business, integration and sustainable development, SCG once again proved its leadership, responsiveness, flexibility and adaptability to fulfill its strong commitments to working with Vietnam to create new miracles.

By Van Luong, Vietnam Business Forum