Investment for the Future

 

In the past 10 years, FICO has developed significantly. In addition to its traditional products such as brick, tile, fire-resistant brick, ceramic and granite tiles, FICO now also produces white and black cement, and high-tension concrete. In particular, FICO exploits and processes minerals (sand and construction stone) and invests in real estate (developing foundation and high-rise buildings). Currently, with thousands of distribution agents nation-wide, FICO products are familiar in the Vietnamese market. Brands such as FICO cement, Thanh Thanh tile, Thien Thanh sanitation porcelain, and Dong Nai brick, have been chosen repeatedly as Vietnamese high quality products, and FICO is a well-known trademark both at home and abroad.

 

With an aim of investing for the future, FICO transformed itself into parent company in late 2005. Most member companies have been equitized to operate more efficiently. FICO accelerated domestic market investment while expanding into foreign markets. Many high-quality building material and real estate investment projects have been upgraded. With modern equipment and technology imported from Europe and the efforts of over 8,000 workers, FICO is confident of continued success, through economic integration.

 

Recently, the stock market has recorded remarkable development. This has a strong impact on the Vietnamese property market, especially high-class apartments and villas. Shareholders of stock market companies and investment funds, both local and foreign, get big profits from stock market growth. This profit, invested in the property market, boosts activity in real estate. The supply-demand gap will increase rentals of offices, apartments and retail shops in Hanoi and Ho Chi Minh City. I believe this will continue in the coming years as economic growth, FDI development and WTO membership attract new companies, especially multi-national companies, and business expansion in Vietnam. As a result, demand for office space will increase, making supply even more critical. In fact the property market, in particular high class apartments, was over-heated in the first quarter 2007 and demand will increase in coming months. When management is simplified and transparent, the property market will develop smoothly. At present, housing demand is still high and the property market is only in an early stage.

 

Vietnam is successfully increasing economic integration, and as a consequence FICO has the opportunity for strategic partnerships with foreign entities. FICO’s guideline is “cooperation for development”. We pursue long-term cooperation, suitable strategies and planning within the legal framework, fully utilizing potential, developing business efficiency and competitiveness, and ensuring mutual benefit.