Vietnam Precision Industrial No. 1 Co., Ltd: Aligning Business Development with Employee Care

9:46:00 AM | 30/6/2020

Vietnam Precision Industrial No. 1 Co., Ltd (VPIC1), based in Khai Quang Industrial Park, Vinh Phuc province, is a wholly Taiwanese invested manufacturer of auto and automobile components, sleds and medical equipment for domestic market and for export. With the goal of aligning business development with employee care, the company always has practical activities to take care of employees’ livelihoods, protect their legitimate rights and interests, and help employees feel secure to work for the company in the long term.

Over the years, VPIC1 has constantly improved their technological lines and upgraded modern machinery and equipment. Particularly in 2017, VPIC1 invested a handsome amount of money in one more laser cutter and a hot stamping line to reduce manual work and raise productivity by 2-4%. In late 2017, to expand business, VPIC1 started to build the nearly US$20 million fifth factory covering ​​nearly four ha.

By focusing on improving product quality to build credibility and trust with customers and partners, the company strictly applies the quality policy of “No accepting defective products, no producing defective products and no selling defective products”. VPIC1 has been granted TCVN, ISO/IS 16949, ISO9001; ISO14001 and ISO13485 certification. In the last five years, the company's revenue increased steadily, from VND2,700 billion in 2015 to VND3,910 billion in 2019. The company is creating stable jobs for 4,100 employees, each of whom is paid an average of VND12 million a month. In 2019 alone, VPIC1 paid VND142 billion into the State Budget and bought social insurance, health insurance and unemployment insurance policies for employees. The company’s traditional customers are manufacturers of cars and motorcycles like Toyota, Honda, Piaggio, Ford, Ducati, France Bed, Polaris and Yamaha Vietnam. Its products are sold in the domestic demand and exported to European and American countries.

In the coming time, VPIC1 will further invest in production expansion, boost exports to Japan, Italy, Americas and Europe, gradually increase income for employees, and ensure welfare for them. In 2020, the company will endeavor to achieve revenue of VND160 million, pay an average of VND13 million for each employee a month, and buy social insurance, health insurance and unemployment insurance policies for them.

In addition to investing, expanding and boosting manufacturing and business activity, VPIC1 has constantly taken care of employees’ livelihoods. With a people-centered business strategy, VPIC1 pays special attention to training and developing human resources. Every employee, after being recruited to the company, is not only trained in labor skills and equipment operations but also educated to adapt to the professional working manner to improve productivity and labor quality. Besides, attention is paid to insurance, occupational health and safety, fire prevention and environmental protection. On average, VPIC1 spends VND120 million on social security each year.

With the care of the Trade Union and VPIC1, employees are inspired to work harder for the business success of the company.

Thanh Loan (Vietnam Business Forum)

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