2:03:00 PM | 2/11/2007
After two years of operation as a joint stock company, Meko Garment Joint Stock Company has gained significant achievements. Vietnam Business Forum interviewed Meko Director Mr Tran Chi Gia.
First of all, could you please introduce some information about the company’s operation and some achievements during the development process?
Meko Garment Company, formed in 1988, was one of the first joint venture companies in Can Tho Province. However, the operation of the joint venture was not really effective; hence, Vietnam acquired the company in 2003 and made it a state-owned firm. In 2005, in order to implement the government’s business arrangement policy and find an effective development orientation for the company, Meko Garment was equitised. Currently, Meko’s business is mainly to do outsourced work on feather jackets for export to such markets as Japan, Russia, Taiwan, EU and the U.S. Meko Garment Joint Stock Company has affirmed its position and become one of the most prestigious and biggest companies in the Mekong Delta region.
Although privatisation has had immediate impacts on the operation of Meko Garment, what is the core of the change?
In comparison with the period before privatisation, Meko’s operation has increased five times in revenue and the number of workers. The company has attracted more investment capital from outside, and paid annual dividend of 15 per cent. After two years of privatisation, the firm’s share price has increased 48 per cent.
We are proud of those great achievements. After equitisation, the workers have become owners in the company and made great contributions to the firm’s development. The management mechanism is now more transparent, with the tight control of the board of directors, directorate and 300 workers.
Meko’s position is affirmed by the operation’s quality. We constantly stress quality as the core of the business operation. Also, I think, maintaining prestige with customers is the key to success.
In the context of severe competition, what measures has Meko Garment Company taken to improve its competitive capacity?
One of the recent successes of Meko Company is the investment in improving product quality and building prestige with customers. Therefore, in order to maintain our company’s operation, we will continue raising the quality of products and our prestige with clients. In business operation, although profit is an indispensable element, other elements will be more significant. For example, when customers have difficulties, we are always ready to help them, which has helped us establish good, long term relations with big customers, stimulating the company’s stable development.
In terms of market, we think that competition is unavoidable and we have to find effective ways to adapt. In order to do that, we will continue training officials and workers, and modernising equipment and facilities.
Quoc Hung
Vietnamese
