Lam Dong Lottery One Member Co., Ltd: For a Prosperous Homeland

3:45:40 PM | 24/5/2017

Persistently and constantly striving for the goal of “Benefiting the nation-Benefiting the home”, Lam Dong Lottery One Member Co., Ltd has always fulfilled business targets and tasks in the past years and contributed significant income to the local State Budget. And, this source of income has been used to invest in social welfare projects in Lam Dong province, thus helping improve people’s living quality and contributing practically to the industrialisation and modernisation process of the province.

Dynamic growth
The current achievements result from a continuous effort of the leadership and staff of Lam Dong Lottery One Member Co., Ltd who always unite to overcome every hardship together. Under any circumstance, the company always makes every effort to self-improve to adapt to changes in specific periods while promoting dynamism, creativity and launching suitable business strategies to conquer the market.

In order to increase lottery ticket sales, Lam Dong Lottery One Member Co., Ltd cooperated with other parties to build a wide distribution network while upholding the spirit of dedicated service and right-placed delivery to satisfy even the most demanding customers. Currently, the firm has 175 lottery agents in 21 provinces and cities in the southern region. Mr Nguyen Duc Viet, President of Lam Dong Lottery One Member Co., Ltd, said that, in annual business plans and business strategies in 2016-2020, the company regularly contacts, meet and inspire agents and helps them tackle emerging issues and obstacles in a timely manner to ensure their legitimate interests, hence maintaining the strong cooperation and support of the lottery agent network-an important and decisive measure to the stability and development of Da Lat-Lam Dong Lottery.

With these efforts, over the years, under any favourable or difficult circumstance, Lam Dong Lottery One Member Co., Ltd always has the sharing, cooperation and support of Da Lat-Lam Dong lottery agents to overcome hardships, enabling it to excellently achieve business objectives and plans assigned by the Lam Dong Provincial People’s Committee and form a sustainable business entity. In 2015, the company earned VND1,702 billion of revenue and paid VND518 billion to the State Budget. In 2016, it fetched VND1,967 billion of revenue and paid VND604 billion to the State coffers. Incomes and living standards of its employees steadily increased over the years. The company has elevated its position and confidently marched with other southern lottery companies to affirm the brand prestige in the market.

For the goal of Benefiting the nation - Benefiting the home
According to State regulations, Lam Dong Lottery One Member Co., Ltd pays all revenues from lottery business (value added tax, special consumption tax, corporate income tax, etc.) to the State Budget and Lam Dong province retains 100 per cent for reinvestment in local education, health and social welfares.
Annually, lottery revenues account for nearly 10 per cent of the province’s total budget incomes, with VND604 billion paid in 2016 alone. Given limited State budget availability, lottery payments play a very important role. From this source, Lam Dong province has more resources for building facilities, purchasing education and medical equipment to better serve people, ethnic groups and social policies. Typically lottery revenue-funded projects built since 2010 include Tran Phu Secondary School (Da Lat City), Le Quy Don Primary School (Da Lat City), Trung Vuong Bao Loc Primary School, Da Lat Preventive Medicine Centre, Pham Ngoc Thach Da Lat Hospital, and Bao Loc Traditional Medicine Hospital, while partially lottery revenue-funded projects comprise Da Lat Square and Tran Hung Dao Park. Therefore, the living quality of local people has also been raised significantly to better serve construction and reconstruction of more prosperous and beautiful Lam Dong province.

In addition to its major contributions to the State Budget, Lam Dong Lottery annually allocates VND6-7 billion to build charity houses for poor households, present scholarships to poor students with good academic achievements, and donate other social and charitable activities. From its valuable contributions, many miserable people have found cosy shelters or opportunities to advance educational background.

Especially, given difficult economic context and high unemployment rate, Lam Dong Lottery plays an important role as its business operations indirectly generate jobs for many labourers, especially the elderly and children. Mr Nguyen Duc Viet said that, in southern and central areas, traditional lottery tickets are sold by a large force of retailers and vendors who are unemployed, underemployed or hard-up. Lam Dong Lottery One Member Co., Ltd and 20 other southern lottery companies provide stable employment and incomes for 90,000 - 100,000 people. This is also the distinct difference between conventional lottery and computerised lottery (sold via terminal machines, which generate much fewer jobs).

He added, “In the coming time, business operations of Lam Dong Lottery One Member Co., Ltd in particular and other lottery companies in general will be difficult and we will try to keep stable development of traditional lottery amidst stiff competition of computerised lottery (Vietlott) and enable Lam Dong Lottery One Member Co., Ltd to develop sustainably, operate effective business and achieve all business plans in 2017 and in 2016-2020 approved by the Lam Dong Provincial People’s Committee. With our constant efforts to improve the operating efficiency, we want to contribute more and more to the local budget and social security policies for the development of more and more prosperous Lam Dong province.”

Hoang Lam