Vietnam Copper Wire Joint Venture: Strengthening Competitiveness

Vietnam Copper Wire Co. (CFT) is a joint venture between VIETNAM ELECTRIC WIRE & CABLE CORP (CADIV) and two Japanese partners THE FURUKAWA ELECTRIC and TOYOTA TSHUSO CORPORATION. Main products are copper electric wire and cable, electromagnetic wire and telecom cable.

 

From 2003-2005, the company’s business grew noticeably. Total revenue reached VND611.8 billion in 2003, VND1,071 billion in 2004 and VND586.9 billion in the first half of 2005. One of keys for this success is good implementation of marketing policy with a price flexible regime.

 

Besides, the company has saved costs in all areas of production and business to reduce prices and raise its competitiveness in the market. Especially since June 1999, with a new production line the company’s products have met the market’s demand and quickly occupied the market. The company’s products have reached the international standard of ISO 9001: 2000 with a professional trading method which has increased the productivity by 32.45 percent, revenue by 40.52 percent, profit by 24.41 percent and budget paying by 36.7 percent in comparison with the period of 2000-2003. Besides, the company also considers human resource training in its strategy. Seven key Vietnamese technical engineers and workers have been sent to the US to be trained.

 

From the beginning of the technology exchange process, the Vietnamese staff has undertaken all operations. Besides, the company’s trade union has cooperated with the Management Board to support workers in both physically and mentally and encourage trade unionists and other staff to contribute part of a day’s wage to build houses of compassion and gratitude etc.

 

In the near future, CFT will try more to reach planned goals by appropriate measures like reducing production costs to reduce prices and raising competitiveness. Also, the company always considers developing and completing the quality standard management, manufacturing and business management to satisfy customers’ demands.

 
Ngoc Oanh