Hanoi Trading Joint Stock Corporation (Hapro) will work to bring the share of export value to revenue to 80 per cent by 2020 and make Hapro a leading international export brand in the region. The corporation aims to become among top five exporters of five export items namely rice, cashew nut, pepper and handicraft.
This target was announced at the First General Meeting of Shareholders held on June 24, 2018 in Hanoi. The assembly was an important milestone that marked its transition to a wholly privatised business model, a new promising phase for Hapro.
Perfecting governance model
The First General Meeting of Shareholders of Hapro was attended by 591 shareholders and proxies, representing 206,687,811 ordinary shares or 93.95 per cent of the total shares.
The meeting elected the Board of Directors and the Supervisory Board of Hapro for the 2018 - 2023 term.
The Board of Directors consists of five members: Ms Nguyen Thi Nga, Mr Vu Thanh Son, Mr Tran Anh Tuan, Ms Tran Thi Tuyet Nhung and Ms Nguyen Thi Thu Hang.
Hapro's next development strategy is further building and developing Hapro into a competitive and sustainable importing and exporting corporation. The firm will concentrate on developing the domestic market with its HaproMart and HaproFood supermarkets and restaurants. It will speed up the development of commercial infrastructure systems in Hanoi and other provinces and cities throughout the country to serve its retail system development; expand shipments of Vietnamese foodstuffs, agricultural products and handicrafts to 80 countries and territories in the world; and concentrate investment on key export manufacturing factories to boost up exports and bring more products to domestic retail networks.
Globalising Vietnamese agricultural products
Hapro’s core business lines are export, import and domestic trade. After its successful equitisation, Hapro still kept its business pace, especially its import and export business. Up to now, Hapro has successfully built five key export items, namely rice, pepper, cashew, coffee and handicrafts, with three of them (rice, cashew and coffee) standing among Top five exporters in Vietnam.
Hapro recorded good export and import business results in the first six months of 2018. Its export value rose 43 per cent year on year to US$63.1 million.
Rice export brought US$9.1 million to Hapro in the reporting period, up 32 per cent year on year. Its rice was mainly shipped to China, the Philippines, Malaysia, Indonesia, the United States, Singapore and Dubai. The corporation built a rice processing plant with a daily capacity of 25 tonnes in Dong Thap province in the first six months of 2018 to control this key export item. Situated in the material area, the facility will ensure food hygiene, safety and export standards to enter demanding markets like the United States. Hapro Dong Thap Branch was granted Certificate No. 11216059570 dated June 13, 2018 for rice exported to the US by the US Food and Drug Administration (FDA). Hapro signed three contracts to export 45 containers of rice worth US$400,000 to the US and the first shipment was delivered on July 3. Besides, the corporation signed a contract with a distributor to deliver rice packaged in 5kg, 10kg and 20kg bags printed with the distributor’s brand name to a retail supermarket system in Dubai. This is a new innovative direction as rice is directly supplied to the retail chain in foreign markets so as to increase the export value. Hapro also clinched a contract with a Malaysian customer which purchased Hapro-branded 5kg and 10kg rice bags for Malaysia's retail distribution system in September.
The corporation’s cashew nut export valued US$42.5 million, 89 per cent higher than that in the same period of 2017. The corporation continued to be among top five exporters of cashew nuts in Vietnam. Its key markets are the US, Russia and Europe, with the US being the biggest source of income. Hapro continued to win new deals with big buyers from this market. This is a strategic item for its upcoming development direction.
Hapro also has many measures to boost the export of other commodities such as pepper and coffee. In mid-June, Hapro exported 19 tonnes of Thanh Ha litchi harvested in Hai Duong province to Malaysia. In addition, in the first six months of the year, the corporation exported some processed foodstuffs such as bottled vegetables and fruits, dried bananas and peanuts to Russia; coconut copra to Qatar, Saudi Arabia, Tunisia and the UAE; and cinnamon to Iran. These products are increasingly popular there.
In 2018, Hapro is expected to earn US$115 million from exports, accounting for 80 per cent of the corporation’s revenue. Mr Vu Thanh Son, General Director of Hapro, said that these results have attested the vitality of a State-owned enterprise after going public. The corporation will work hard to make Hapro a leading international brand in the region.
Le Hien
Vietnamese
