In 2023, global and domestic economies are forecast to face difficulties and challenges: Negative impacts from global economic recession, high inflation, rising fuel prices, slowing consumption of commodities, tightened monetary policies and rising interest rates. To gradually live through these difficulties, the leadership of FSC Vietnam Joint Stock Company adopted various workable solutions and business strategies such as reducing cost, seeking new markets and improving production value.
The MDF board factory is equipped with modern, environmentally friendly technology and machinery
Located on nearly 23 ha in Nam Dong Phu Industrial Park, the medium-density fiberboard (MDF) factory was put into operation in 2018 by FSC Vietnam Joint Stock Company (a member of Kim Tin Group). Costing VND2,300 billion for construction, the facility, powered by European technology, modern machinery and equipment, is capable of manufacturing 400,000 cubic meters of MDF products a year. Its high-tech products have high market demands. This project is of special significance to Binh Phuoc province's socioeconomic development and helps create stable output for commercially planted forest products.
FSC Vietnam is currently considered to have one of the most modern and largest MDF board factories in Vietnam. Its production lines are completely imported from Europe, with many outstanding advantages and features. MDF products meet the strictest quality standards, specifications and environmental requirements imposed by domestic and international markets such as the US, Japan and European countries.
Mr. Trinh Huu Dai, Director of FSC Vietnam Joint Stock Company, said: “Apart from fully automated modern production lines, as its human resources are highly skilled, retaining employees is a vital solution for the company to restore stable production after the pandemic. In addition to an average monthly salary of VND10-12 million paid to employees, the company applies many performance-based remuneration policies.
For example, the company applies the seniority policy or lends VND100 million to each migrant worker to buy a house for long-term residence in the province. FSC Vietnam allows 60 employees to use its official buildings for residence. 12 official buildings with modern furniture and gardens, 150 square meters each, are used for after-work activities like leisure and sports. This has motivated and encouraged employees to stick with the company for a long time.”
While other companies have to cut labor to reduce cost amid growing difficulty, FSC Vietnam is trying to retain its employees with many practical support activities. Despite difficulties in business, the company did not cut staff but still maintained jobs and stable incomes for 260 employees.
In the coming time, due to existing difficulties and challenges, companies will have to decisively find the right direction to keep the market. In addition to actively restructuring production, improving management capacity and adapting to market developments, FSC Vietnam will focus on diversifying products and searching for new customers.
“This is the time when businesses must exert their strongest spirit, willpower, creativity and elasticity in production models and capture every opportunity to recover and develop business operations. And with its experience in overcoming difficulties and flexibly adapting to new developments, FSC Vietnam is confidently and firmly aspiring development and making an important contribution to the economic growth of Binh Phuoc province,” he affirmed.
By Duy Binh, Vietnam Business Forum
Vietnamese
October 2024
Hanoi