GELEXIMCO: Sustainability Strategy Supports Brand Position

Led by President and CEO Vu Van Tien, Geleximco has been rapidly developing into one of the largest private companies in Vietnam. Since its inception, the group has always actively figured out its own right direction, continuously improved and selectively expanded its scale; and built and shared sustainable values for the group itself, for its partners and for the community.

The perspective of Rong Hill Project

Constant growth

Geleximco Group, formerly Hanoi General Import-Export Co., Ltd (Geleximco), was established in 1993 by a decision of the Prime Minister with an initial registered capital of VND3 billion. After 30 years of development, Geleximco has become a strong and sustainable private firm with many member companies active in many industries, total assets of over VND80,000 billion (US$3.5 billion) and annual revenue of over VND20,000 billion (US$870 million). Many large corporations from the United States, France, Germany, Japan, South Korea and China have established strategic partnerships with Geleximco to reach out to other countries.

Currently, Geleximco is focusing on four main areas: Industrial production, Finance - banking, Real estate, and Trade and services.

In industrial production, the group has helped increase the share of industrial revenue, especially in large well performing investment projects, including the US$900 million Thang Long Thermal Power Plant with an installed capacity of 620MW and the US$270 million Thang Long Cement Factory with an annual capacity of 2.3 million tons.

Additionally, Geleximco is also one of the founding shareholders of Honda Vietnam Auto Parts Co., Ltd (VAP), which has a total investment of US$90 million.

In real estate, Geleximco-branded projects have been well-received by the market right from their first days of sale such as Exchange City on Pham Van Dong Street, Gelexia Riverside Urban Area, Le Trong Tan Urban Area (Hanoi), Cai Dam Urban Area (Quang Ninh) and An Binh Plaza. Notably, Dragon Ocean Do Son International Tourist Area in Do Son (Hai Phong) is a key ongoing investment project of Geleximco, a bright spot that brings new vitality to this famous tourist sea.

In finance and banking, Geleximco is a founding shareholder and co-owner of An Binh Joint Stock Commercial Bank (ABBANK), An Binh Securities Joint Stock Company and other companies.

In trade and service, Geleximco has operated Hilltop Valley Golf Club, rated by customers as one of the golf courses in Vietnam with the most beautiful landscapes and terrains and very high challenges. Currently, Geleximco continues to invest in golf courses combined with large-scale villa resorts in Hai Phong, Lao Cai and other localities.

In the coming time, the group will focus on developing high-tech industrial production to embrace Industry 4.0 trends; and invest in transport infrastructure, expressways, seaports, and export and import logistics.

Thang Long Cement Factory

Pursuing sustainable development

In all fields and projects, besides quality and progress factors, Geleximco always opts for modern technology, environmental protection and natural friendliness. Sustainability strategy, the pursuit of real values, has been determined by businessman Vu Van Tien right from the time of brand building.

Moreover, Geleximco prioritizes the human factor. In corporate governance, the leadership always provides an enabling environment for employees to work to their full capacity and effectively implements employee policies. Every year, the group spends 10% of the total salary fund on human resource training. Under the common roof of Geleximco, all members have the same rights and responsibilities at work, always unite and jointly shoulder all difficulties, and share every success for the development of the group and the community as well as the prosperity of the country.

Not only keeping business focus, in the group’s long-term goals, profits must be harmonized with community interests, which has helped create sustainable values for Geleximco. Since 2004, Geleximco has regularly financed social activities, student scholarship funds and charity programs for the poor, and restored historical relics in respect to ancestors and humanity.

Aligned with the development of the private business community in Vietnam, businessman Vu Van Tien is also a member of the Private Economic Research and Development Board under the Prime Minister’s Advisory Council for Administrative Procedure Reform, and a member of the Executive Committee of the Vietnam Chamber of Commerce and Industry (VCCI). In particular, as a member of VCCI’s Executive Committee, he has worked with VCCI to convey important messages about requirements for better governance quality, more streamlined administrative procedures and a more favorable business environment for companies. To build corporate culture, according to him, with the business community led by entrepreneurs, the most important aspect is “respecting the law”, strictly following Vietnamese business ethics rules, characterized by the Code of Business Ethics with six rules that VCCI launched. By following this Code of Conduct, not only will the business community grow, but the social community will also grow together and the country's economy will grow stronger and more sustainable.

Geleximco is an active participant in many charity programs

And in that journey, along with the country’s development and Doi Moi (renovation), Geleximco, with the "Integrating resources, Sharing success” development strategy, will definitely develop sustainably on the path to becoming a leading business in Vietnam and affirm its brand in regional and international markets.

Source: Vietnam Business Forum