On April 5, at Melisa Center Convention Center, Benthanh Group held the Conference on Summarizing the Patriotic Emulation Movement Activities in 2023 and Implementing the Tasks for 2024. The conference was chaired by Mr. Phan Van Quang – Secretary of the Party Committee, Chairman of the Members’ Council; Mr. Tran Manh Ha – Standing Deputy Secretary of the Party Committee; and Mr. Hoang Tam Hoa – Deputy Secretary of the Party Committee, General Director of Benthanh Group.
The conference was attended by Ms. Phan Kieu Thanh Huong, Deputy Director of the Department of Home Affairs; Ms. Nguyen Thi Hong, Head of the Professional Department of the Ho Chi Minh City Emulation and Commendation Board; Mr. Le Phan Nhan, Deputy Head of Professional Department 2, Party Committee Inspection Commission; and Mr. Chau Minh Truc, Specialist of the District/Ward Department, Organization Commission of the Party Committee. From Benthanh Group, attendees included members of the Party Executive Committee; Party Committee Inspection Commission; Members’ Council; Board of General Directors; Controllers; Heads and Deputy Heads of advisory committees of the Party Committee, Executive Committees of mass organizations; Heads and Deputy Heads of specialized departments; Secretaries and Deputy Secretaries of affiliated Party units; and representatives of Benthanh Group’s capital contribution at enterprises.
In 2023, the total system-wide revenue was estimated at VND 26,632 billion, a 7.6% decrease compared to 2022. The system-wide pre-tax profit was estimated at VND 661 billion, down 46% compared to 2022. The primary reasons for this decline were the drop in revenue and profit of automobile businesses such as Saigon General Services Corporation, Saigon Automobile Service Corporation, and Bac Au Automobile Corporation due to difficulties in the automobile market. Additionally, both businesses and consumers tightened their spending, leading to a sharp decrease in car purchases.The whole system of the Corporation has 17/25 enterprises in the system that have been completed or completed in excess of the plan. Benthanh Group exceeded the target set by the Ho Chi Minh City People’s Committee, with the parent company’s estimated revenue for 2023 at VND 344.7 billion, achieving 100.4% of the plan. The estimated pre-tax profit of the parent company was VND 157.8 billion, reaching 104.7% of the plan.
At the conference, it was reported that Benthanh Group had proactively reviewed business activities, financial investments, and key projects to facilitate the transition to a joint-stock company model as per the directive of the Ho Chi Minh City People’s Committee. The group will proceed with corporate restructuring once the approval decision is issued. Benthanh Group also focused on strategic development directions, assessing human resources at its member enterprises to ensure efficient capital management and improve corporate governance.
The conference covered updates on three key business sectors of Benthanh Group.
Tourism Services: The sector saw positive changes with improved customer service, enhanced F&B policies, promotional programs, upgraded landscapes, and expanded tourism offerings, including new island exploration tours. There was a continued focus on human resource training, effective capital management, and brand recognition strategies to attract customers and refresh products.
Trade and Manufacturing: The automotive sector faced significant challenges due to low market demand, tightened bank lending, high interest rates, and overall economic downturns, leading to high inventory levels and lower-than-planned revenue and profit. To adapt, enterprises restructured their product portfolios to align with market trends and applied retail management software to enhance supply chain efficiency and customer service.
Real Estate Services: Companies increased the occupancy rate and rental prices of serviced apartments, optimized office space utilization, and implemented cost and cash flow management measures. They actively sought and collaborated with partners to enhance commercial space leasing.
In his speech, Mr. Phan Van Quang – Party Secretary and Chairman of the Board of Members acknowledged the efforts and contributions made recently and expressed his hope that the entire Corporation system would continue to strive to meet the 2024 revenue and pre-tax profit targets, as well as develop and implement investment projects suitable to market conditions. He emphasized the importance of market research and business products in a market that has seen many changes in consumer trends and business methods, continuing to implement savings, strictly controlling inventory and receivables, and efficiently exploiting corporate assets. The focus should be on organizing personnel, training and developing human resources, improving labor productivity to increase business efficiency, and developing and implementing internal consumption programs throughout the Corporation system. For the parent company, they will continue to strive to meet the 2024 revenue and profit targets registered with the City People’s Committee. Following the program, there was a ceremony for signing the 2024 emulation pact, with 26 member enterprises participating in signing and committing to completing their 2024 business production plan targets.
In the past year, the Corporation focused on directing key emulation movements and implementing creative emulation movement projects, with city creative awards achieving many outstanding accomplishments. On this occasion, the Corporation summarized and rewarded collectives and individuals who achieved excellence in the patriotic emulation movement in 2023: 1 collective and 1 individual received the Prime Minister’s certificate of merit; 47 collectives were recognized as Outstanding Labor Collectives by the City People’s Committee; 19 collectives and 54 individuals were awarded certificates of merit by the City People’s Committee for outstanding achievement in 2022-2023; 33 collectives were recognized as Advanced Labor Collectives by the Corporation; 05 collectives and 40 individuals received certificates of merit from Ben Thanh Corporation; 4 party committees and branches were awarded for excellent completion of duties and 203 individuals were recognized as Grassroots Emulation Fighters in 2023.
