VIGLACERA's Highlights & Promises Ahead of the New Year

"Viglacera has been very responsible and proactive in responding to the social welfare policies of the Party and the State, initiating the construction of numerous social housing projects and worker housing. Simultaneously overcoming market challenges, relentlessly exploring innovative production of green materials, resource conservation, leaving a remarkable breakthrough that deserves recognition," said Minister of Construction Nguyen Thanh Nghi in at the 2023 business review conference, discussing the direction for implementing the 2024 plans of Viglacera Corporation. This serves as an encouragement to all the leaders, workers, and staff of the Corporation in a year full of difficulties and challenges like 2023.

The conference was attended by Minister of Construction Nguyen Thanh Nghi, Deputy Minister of Construction Nguyen Van Sinh, and representatives of the heads of the functional departments under the Ministry.

Minister of Construction Nguyen Thanh Nghi encouraged and recognized the efforts of the Viglacera Corporation leadership and employees. 

A year of great effort for the group of building materials enterprises

The results of the 2023 production and business activities of the Corporation and the reports of the participants at the conference showed that the past 12 months were a time of compounding difficulties for the real estate sector. Thousands of construction projects across the country were stalled, leading to a decrease in the consumption of building materials that had never been seen before. In particular, in the southern market, which is the most vibrant market, the demand for building materials in 2023 decreased by more than 40%, the highest in the country.

The speeches also directly raised the challenge of the "output" equation for an enterprise that owns a series of building materials production plants - with a variety of product categories from glass, sanitary ware, tiles, aerated concrete, and sintered stone ... with a large total production capacity like Viglacera. In this context, Viglacera Corporation and its functional departments have taken the initiative to come up with solutions on both the domestic and export markets, keeping the consumption rate at the highest level possible: Tiles reached a consumption rate of 98%, glass reached 80%; ... Modern sales methods that provide a better user experience have been implemented. A system of showrooms showcasing a variety of products has been and continues to be established. Timely implementation of measures to optimize production organization.

Viglacera strives to bring many practical experiences to consumers through modern sales showrooms

2023 was also a year of great success for Viglacera's aerated autoclaved concrete (AAC/ALC) products in exports. Viglacera signed a strategic contract, becoming the main building materials supplier for many key projects in countries with strong construction growth such as Australia, Singapore, and Taiwan. This product was also awarded the Standard Product Certificate for Green Buildings by the Singapore Green Building Council (SGBC), becoming a material that meets the standards for use in international standard green buildings. In 2024, Viglacera's aerated autoclaved concrete products will continue to penetrate the Japanese and Korean markets.

In terms of exports, it has achieved positive growth. The total export turnover of the Corporation is estimated to reach 46.3 million USD, becoming the largest building materials exporter in Vietnam and growing by 53% over the same period; In which it increased in tile products, glass and porcelain.

Real estate: Finding opportunities in challenges.

Clearly, opportunities still arise in challenges. With the advantage of a wealth of experience and a reputable brand, the real estate business of the Corporation has identified two main areas of operation as follows:

First, focus on the development of industrial real estate projects linked to the trend of green transformation, increasing utility services, and improving competitiveness; is the main resource to ensure the completion of the 2024 business plan, and at the same time create favorable conditions for the divestment activities of the Corporation as financial investors are very interested in this area of operation.

Second, focus on completing the investment and putting into operation 3.800 social housing and worker housing units, in response to the program of creating 1 million new social housing units launched by the Government and the Ministry of Construction, while creating an advantage in attracting businesses to invest in industrial parks. In 2024, the Corporation will complete the investment of 2.180 social housing and worker housing units.

Viglacera's industrial real estate will be developed according to green criteria and diverse amenities to create a competitive advantage.

"The outstanding highlight," as acknowledged by Ministry of Construction "Commander

At the conference on the results of production and business activities in 2023 and the implementation of the production and business plan for 2024, Mr. Nguyen Anh Tuan, Deputy General Director of Viglacera Corporation, reported to the Minister of Construction and the entire conference: "In 2023, with the close guidance of the leadership of the Ministry of Construction, the decisive and flexible management of the Board of Directors, the leadership, and the unity, solidarity, and efforts of the staff, Viglacera Corporation has exceeded the main targets, profits before tax have been assigned by the General Assembly of Shareholders. The parent company always plays a good role in leading and guiding in directing and managing. In 2023, the estimated pre-tax profit of the entire consolidated corporation was VND1,593 billion, achieving 132% of the plan approved by the General Assembly of Shareholders; the estimated pre-tax profit of the parent company was VND1,919 billion, achieving 147% of the plan approved by the General Assembly of Shareholders."

Mr. Nguyen Anh Tuan, Deputy General Director of Viglacera Corporation, presented a report on the summary of work in 2023 and the implementation of the production and business plan for 2024

In 2023, the Viglacera brand was valued at 63.6 million USD by Brand Finance. On the eve of the new year and in celebration of the 50th anniversary of the Viglacera brand, the Corporation is committed to the goal of sustaining Viglacera as a pioneer brand in the production of building materials and real estate in Vietnam. Accordingly, the product strategy is focused on developing an environmentally friendly product ecosystem, focusing on the middle and high-end segments to serve the current real estate projects that the Corporation is investing in, and at the same time meeting the inevitable trend of the market.

It is known that also in 2023, Viglacera has focused resources to effectively implement many activities such as: Launching the largest sintered stone sheet in Vietnam; Launching the first square meters of Ultra Clear Glass in Vietnam; Strongly developing industrial park real estate; Boosting investment in worker housing and social housing; Boosting the development of tourism and resort real estate, opening up a new business direction for the Corporation; Boosting exports to European and American markets with the goal of achieving 68 million USD in total revenue for the Corporation in 2024.

Minister of Construction Nguyen Thanh Nghi acknowledged, highly appreciated, and praised the important results that Viglacera Corporation achieved in 2023. He said: "In 2023, all officials, civil servants, employees, and workers of the Construction industry have worked hard to overcome all difficulties and challenges to overachieve the targets set by the Government and the Prime Minister. The overall results of the Construction industry have benefited from the active participation of enterprises under the Ministry and the industry, in which Viglacera Corporation is a bright spot."

Promises before the new year

At the conference, the leadership of the Corporation and representatives of the member companies made contributions and proposed solutions to improve the efficiency of the Corporation's production and business in 2024.

At the same time, implement the Corporation's investment and development plan, ensuring the goals for 2024 and the long-term, sustainable development orientation of the Corporation with key construction materials and real estate projects.

Mr. Nguyen Van Tuan, Chairman of the Board of Directors of Viglacera Corporation

Mr. Nguyen Anh Tuan, General Director of Viglacera Corporation 

Mr. Tran Ngoc Anh, Deputy General Director of Viglacera Corporation 

Mr. Quach Huu Thuan, Deputy General Director of Viglacera Corporation 

Mr. Nguyen Quy Tuan, Chairman of the Viglacera Corporation Labor Union; Standing member of the Viglacera Corporation Reward and Encouragement Council

Mr. Mai Xuan Duc, General Director of Viglacera Tiles company

Mr. Nguyen Manh Hieu, General Director of Viglacera Trading company

Mr. Nguyen Ngoc Anh, Vice Chairman of the Board of Directors of Vimariel company - Cuba