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HCM City businesses overcome economic 'storm'

Many enterprises in HCM City have successfully contributed to the economic recovery and development of the city after the pandemic.



In the last days of 2021, consumers were surprised to see Chuk Chuk stalls selling fresh juices, cakes and nutritional combos at GO!, Big C and Tops Market shopping malls.

The introduction of new food and beverage chain Chuk Chuk is a strategic move between Kido Group and Central Retail Viet Nam.

Between December 2021 and Lunar New Year 2022, Kido Group has plans to open more than 10 Chuk Chuk stores under Central Retail Viet Nam.

In the next phase, the two firms will bring the Chuk Chuk chain as well as Kido’s essential products to the Thai market and other countries in the region.

“Kido will open 300 to 400 Chuk Chuk stores in 39 GO! Malls nationwide with the target of VND500 billion in revenue in 2022 and later expand the chain to Thailand, other Southeast Asian countries, China and Korea. In the period of 2023 to 2026, 1,000 stores will be opened,” said Tran Le Nguyen, deputy chairman of the Board of Directors and general director of Kido Group.

Earlier, the group also cooperated with Son Kim Group to bring the Chuk Chuk chain into the GS25 store system and with FPT Corporation to complete the management information system (MIS), along with necessary digital transformation applications to standardise the management and development process of Chuk Chuk nationwide and abroad.

According to Nguyen Thi Xuan Lieu, deputy general director of the group, the moves are only a part of Kido Group’s adaptation strategy in 2021.

“At the peak stages of the pandemic, we came up with many solutions to overcome difficulties. Specifically, when the pandemic disrupted the global supply chain and 100 per cent of Kido’s raw materials had to be imported from abroad, we were able to actively work with reputable suppliers and find transportation of raw materials for production,” Lieu said.

“All factories of Kido Group were not interrupted and goods have been continuously sent out to the market."

Similar to Kido Group, firms in various fields and industries in HCM City, especially in the four key industry groups, were able to thrive in 2021.

In the field of industrial production, CNS Amura Precision Company, a joint venture between Sai Gon Industry Corporation and a Singaporean partner, cited difficulties caused by the impact of COVID-19, such as labour shortages and high production costs.

This has encouraged the company to accelerate the application of science and technology into production and business to improve its products.

Tran Thanh Lam, director of the company, acknowledged that the COVID-19 pandemic posed both challenges and opened up may opportunities for businesses.

“Toys for the elderly and automatic toys are selling very well in European countries. Orders for these products have increased significantly. Some potential customers have come to visit our factory and had a positive impression with our production conditions. They are likely to order in the near future," Lam said.

"The company has been doing well and the target sales set at the beginning of 2021 was VND186 billion per year. That being said, by the end of November, they reached over VND200 billion, 15 per cent higher than expected.”

Phuc Sinh Group, focusing on agricultural products export and e-commerce site for goods, also had a successful year.

The profit in 2021 was tripled year-on-year thanks to its flexible adaptation strategy in a difficult year.

During the social distancing period, Phuc Sinh Group and Kcoffee, a brand under Phuc Sinh Group, implemented a programme to give 2,000 gifts including rice, meat, green vegetables and spices for poor people affected by the pandemic.

Phan Minh Thong, chairman of the Board of Directors of Phuc Sinh Group, said that the company has just restored a preferential programme for long-term and elite employees to borrow money to buy a house. In 2021, two employees were able to borrow VND1 billion each to buy houses without interest over 10 years.


With regards to business prospects in 2022, Lam said that with strengths in the design engineer team, CNS Amura Precision would continue to promote research and development of new products and apply technological advances to improve labour productivity, reduce production costs and enhance the company’ competitive advantage.

Meanwhile, Kido Group claims to have fulfilled its responsibility of bringing quality goods to consumers and will focus on creating new products.

"It is the effort of the Board of Directors as well as all employees of Kido Group. We thrive to ensure the flow of goods and believe all business and financial targets will be fulfilled,” Lieu said, adding that the preparation in 2021 had created a momentum for Kido Group to grow faster and stronger, to soon become a leading food corporation in the country and region.

Phuc Sinh Group forecasts 2022 to be a year full of challenges as a new strain of the COVID-19 pandemic is raging in the company's main markets.

"We will have to embrace flexibility. The epidemic has been going on for a while and will not end any time soon. Inflation pressure and tight consumer spending require us to be patient and flexible to adapt effectively in 2022,” Thong said.

In 2022, Phuc Sinh Group plans to build more coffee factories to supply the domestic market and further venture in the spice industry.

Source: VNS


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