Future Tycoon Industrial Co., Ltd: Ensuring Employment and Social Security

Despite facing numerous difficulties and challenges due to market fluctuations and declining orders, Future Tycoon Industrial Company Limited, based in Chon Thanh I Industrial Park, Binh Phuoc province, has managed to maintain jobs and ensure stable incomes for many local workers.

Living through enormous hardships amid volatile domestic and global economies, with its proactive business plans, the company has sought to diversify markets and searched to sign new contracts according to its supply capacity. In particular, like many other garment companies, Future Tycoon used to lack orders. To have a stable business approach, there is no other way that the company must actively research new designs to match market tastes. Thanks to these efforts, Future Tycoon has continuously received orders that ensured enough work till almost the end of this year.

When orders become stable, the most important work is to retain employees. Therefore, the company always strictly complies with employee laws. Regulations on social insurance and health insurance policies are fully implemented to ensure their rights and interests.

Furthermore, many activities are organized to care for their material and spiritual life such as diligence allowance, performance bonus, seniority bonus, fuel allowance, honor outstanding employees, and annual excursion for employees. Since the start of this year, thanks to the active support of authorities at all levels along with the companionship and sharing of employees, the company has lived through the tough period, stabilized production, and ensured enough jobs for 170 employees with an average monthly income of VND10 - 12 million.

In particular, as a garment producer, its employees often work in an environment with many toxic agents that affect their health such as fabric dust, noise and potential fire and explosion risks. Recognizing the importance of occupational safety and hygiene, for many years, Future Tycoon Industrial Co., Ltd has strictly applied regulations on occupational safety and hygiene. In addition to providing facilities and improving working conditions for employees like installing ventilators, dust extractors and noise reducers and periodically maintaining machinery, the company also focuses on training in fire skills by establishing and operating a fire force and training in occupational safety and hygiene. Emulation movements launched by the company's Trade Union such as “Good workers, creative workers" and "Green - clean - beautiful, occupational safety and hygiene” have received positive responses from employees, contributing to improving its business performance.

Remarking on the investment environment of Binh Phuoc province, Mr. Lin Shih Chin, Production Director, said: Future Tycoon Industrial Co., Ltd invested in Binh Phuoc seven years ago. The province has a relatively complete infrastructure and abundant labor resources. Right from the beginning of investment research, the company received support and guidance from provincial agencies in general and Chon Thanh People's Committee in particular on legal procedures during the investment process and prompt solutions to existing obstacles. To date, the company has operated steadily, ensured stable jobs for employees, earned good profits and contributed to the local budget. [We] believe that Binh Phuoc will be an attractive destination for investors, especially FDI firms, in the coming time.

On tax affairs, Ms. Lam Thi My Hien, Chief Accountant of Future Tycoon Industrial Co., Ltd, said: “In recent years, the Binh Phuoc Tax Department has enthusiastically supported, answered questions about procedures for resolving preferential policies, removed difficulties and made the company understand and fully adhere to tax policies.”

The company hopes that the Party and authorities at all levels will further support and introduce solutions to stabilize general situations while helping the company to expand operations, ensure employment, improve income, and enhance the material and spiritual life of employees.

By Duy Anh, Vietnam Business Forum