Communist Youth Union, Sabeco Sign MoU for 2024 - 2026 Period

2:12:42 PM | 6/5/2024

Following the successful collaboration during the 2022 - 2024 period, the Ho Chi Minh Communist Youth Union (HCYU) and Saigon Beer-Alcohol-Beverage Corporation (SABECO) have renewed their agreement to elevate the strategic partnership for the next three years. This agreement will lead to numerous activities aimed at creating more mutual benefits for the community and society, contributing to the sustainable development of Vietnam.

In the 2024-2026 framework of cooperation, HCYU and SABECO have agreed to coordinate and implement activities focused on three areas:

Climate: Collaborate on proposing initiatives and implementing suitable action programs to engage the community in combating climate change, aligning with the National green growth strategy for 2021-2030, vision to 2050.

Community Empowerment: Carry out programs to support and “unlock” the potential of local enterprises, brands, and local specialties of the One Commune One Product (OCOP) model, thereby contributing to local economic development; Promote community connection and support needy Vietnamese laborers through annual Tet activities

Sports & Public Health: Promote physical exercise habits and cultivate a dynamic, active lifestyle within the community through sports projects and initiatives that also promote responsible drinking of alcohol beverage.

In 2024, SABECO and the HCYU will launch initiatives to install solar-powered streetlights along 34 km of roads in border areas, plant trees in 20 provinces, organize a football tournament combined with cultural activities for youth nationwide, and support OCOP enterprises. These initiatives aim to deliver sustainable mutual benefits for the people, environment, and society in Vietnam. Alongside these efforts, communication activities to raise awareness and promote responsible drinking behavior will be widely implemented across the entire SABECO system, among partners within the supply chain, and in community programs.

Speaking at the signing ceremony, Mr. Ngo Van Cuong, Secretary of the Central Committee of the Ho Chi Minh Communist Youth Union and Chairman of the Central Committee's Inspection Commission, stated: "During the 2022-2024 period, the Ho Chi Minh Communist Youth Union and Saigon Beer - Alcohol - Beverage Corporation (SABECO) have demonstrated proactivity and close coordination in implementing activities across various fields. These activities were  practical, meaningful, widely impactful, and have created positive effects among union members, youth, and the entire society. They have contributed to the common goal of generating mutual benefits to the community, promoting Sabeco's brand, and enhancing the effectiveness of the Youth Union's work and youth movements. Building on these successes, the memorandum of understanding for the 2024-2026 period inherits the positive outcomes achieved and incorporates adjustments and additional cooperative activities in line with the operational orientations of both parties.

Mr. Lester Tan, General Director of SABECO, shared: The successful collaboration programs with the Central Youth Union in the past have laid a solid foundation for us to continue partnering in community projects with greater goals. These aim to create strong and positive impacts, bringing mutual benefits to stakeholders, the community, and ultimately contributing to the overall development of Vietnam's economy and society.”

As Vietnam's leading beer brand, SABECO is committed to acting beyond simply environmental stewardship but is also taking greater social and governance accountability. We are aligned with Vietnam’s 2050 net zero emissions targets while continuing to work with local communities throughout Vietnam to contribute to Vietnam’s socio-economic development”, Mr. Lester Tan emphasized regarding the company’s ESG goals.

During the 2022-2024 period, SABECO and the HCYU completed two large-scale projects: “Light Up The Rural,” which successfully installed solar-powered lights along 73 km of roads, contributing to a safer and more sustainable living environment in rural areas across 63 provinces; and the “Fostering Sports” project, which upgraded 30 community sports fields nationwide to encourage physical exercise habits and promote an active and dynamic lifestyle in the community. Additionally, SABECO has supported programs to enhance the competitiveness of over 500 rural youth entrepreneurs, honored outstanding agricultural start-ups, and contributed to the national goal of digital transformation in agriculture and the development of a green agricultural economy for sustainable development.

T.H (Vietnam Business Forum)