PANO – Defence firms’ sustainable growth over the past year has considerably contributed to the national economic growth and to the State budget despite numerous difficulties in 2014.

According to the Department of Economics of the Ministry of National Defence, defence companies last year earned VND 292 trillion with the profit before tax of VND 46 trillion. With this result, they could contribute nearly VND 41 trillion to the State budget, and ensure the average per capita income of VND 10.7 million per month for their defence workers. All these figures are higher than that of previous year.

The military-run telecom group Viettel continued taking the lead among defence businesses with the turnover of nearly VND 197 trillion, up by 20 per cent year-on-year, and being listed as one of the top tax contributors (its tax sum of over VND 15 trillion in 2014).

Photo: vietteltelecom.vn

 

The Lung Lo Construction Group has become a well-known defence business in the country in building ports, hydroelectric plant tunnels and traffic tunnels.

Next, Cooperation 28 of the General Department of Logistics has been considered a strategic partner of famous clothing brands, such as Hugo Boss (Germany), Pierre Cardin (France), Mark & Spencer (the UK) and Alfred Dunner (the US), in the markets of the US, Japan and EU.

Meanwhile, the Saigon Newport Group is one of Vietnam’s leading ports. Notably, its Cat Lai port ranks 34th on cargo entreport worldwide.

Leaders of all these companies affirmed that their successes came from the effective use of thier strengths, regular improvement of their products’ and services’ quality, and active international cooperation.

Defence businesses also actively participate in many social welfare activities, take care of policy beneficiaries across the country, raise thousands of billions of VND for the construction of gratitude houses and charitable funds.

In terms of business, not being complacent about their achievements, these companies have set ambitious targets, aiming to expand markets in the region and the world.

Major General Nguyen Manh Hung, Viettel’s Director General, addressed that the company should continuously do its utmost and expand business to new areas, aiming to become one of the 20 biggest communications groups in the world and a bid telecommunication manufacturer for military and civilian purposes.

Senior Colonel Tang Van Chuc, Director General of the Lung Lo Construction Group, held that thanks to keeping up with the world's development trends, it became a reliable partner of MECAMIDI S.A Company (France) and the Nam Sim Power Co. Ltd. (Laos) and won many contracts to construct hydroelectric plants in Laos.

In order to ensure stable growth, apart from efforts by themselves, military-run businesses should receive the care by relevant State agencies as well as promote their staff and employees’ awareness of opportunities and challenges posed by the country’s integration process, contributing to heighten their prestige and brand names in the domestic and international markets.

Translated by Pham Huy