Vinfast's electric car models were launched at CES 2022 in Las Vegas, USA on January 6. Photo: Vinfast

Remove old - add new

The most exciting story in the market in recent days is that Vingroup announced that VinFast will stop producing gasoline cars to turn into a 100% electric car company by the end of 2022.

According to Vingroup's senior leaders, this is a turning point in VinFast's development strategy. To prepare for this plan, from the end of 2021, Vingroup has started construction of VinES Battery Factory with a total investment of more than VND4,000 billion in Ha Tinh. Recently, the leader of this business also "revealed" its intention to build a factory to manufacture and assemble electric vehicle batteries in the US.

Over the past three years, the largest enterprise in Vietnam has continuously made moves to leave newly opened businesses to shift focus to other businesses, most recently stopping retail and smartphone production to focus on the automotive manufacturing sector. Any plans of Vingroup are built with many ambitions, with great total investment value, although all of them have gained achievements in business results, this business is still willing to sell or stop to focus on areas of interest. The area is considered to be more trend-appropriate.

In the retail sector, Mobile World Investment Joint Stock Company recently launched five AVA store chains in the fields of home fashion, sportswear, products for mothers and babies, jewelry, and a bicycle shop in the form of "shop in shop" at the Dien May Xanh system.

According to The Gioi Di Dong, the launch of the store chain in early 2022 helps the company hold market share, increase its multi-industry competitive advantage, optimize its operating system, and promote growth.

Previously, at the General Meeting of Shareholders at the end of October 2021, Doan Van Hieu Em, Director of Mobile World and Dien May Xanh chain, said the phone and electronics market, in particular, has reached a saturation threshold with a growth rate of only about 10% per year, so it is necessary to expand the business to other products as part of the plan to increase revenue and profit in 2022.

Similarly, entering 2022, many businesses are also determined to invest in many new fields such as PetroVietnam Technical Services Joint Stock Corporation, which adds offshore wind power investment to the main business; TDG Global Investment Joint Stock Company operates mainly in the field of liquefied petroleum gas (LPG), but is planning to invest in real estate and finance.

In addition, to support the business sector, many businesses do not regret investing in equipment.

For example, by the end of 2021, Hoa Phat has purchased three large ships, of which two have a tonnage of 90,000 tons and one with a tonnage of 80,000 tons. According to Hoa Phat, the purchase of more large ships is part of the fleet development strategy to meet internal transportation needs and the huge demand for bulk cargo transportation in the market.

Especially, when phase 2 of Dung Quat project is completed early this year, Hoa Phat's import demand for production materials will increase. On the other hand, owning a ship will help Hoa Phat have a stable number of ships, reducing risks when the world charter rate increases.

Don't be afraid of difficulties

Speaking with Customs News about the reasons for deciding to invest and set up a company in the field of tourism, Nguyen Van Bien, Chairman of the Board of Directors of NBT Holding Company, said that the company decided to establish a subsidiary, Bao Tin Travel, to take advantage of opportunities for the tourism industry to recover in 2022 and the following years.

Despite many difficulties in this industry, the Government and competent agencies are still implementing policies to support the tourism industry, plus the determination to cover vaccines, so businesses have more opportunities.

Along with that, according to Bien, NBT Holding operates in many fields in both logistics and trade promotion, so it should invest more in the tourism industry at this time in order to catch the opportunity of bringing international tourists and investors.

Foreigners come to Vietnam to both travel and survey the business market. Of course, this person also expressed concern about the risks of the pandemic, but Bien said that businesses must operate and plan in the long-term to have sustainable development in the future.

Talking more about the investment and development orientation of the business, Tran Viet Anh, Vice Chairman of Ho Chi Minh City Business Association, General Director of Nam Thai Son Import-Export Joint Stock Company, said 2022 will be a pivotal year for businesses to build recovery plans, regaining what was lost in 2021. The goal of 2022 is to grow even more, because on average, businesses usually grow by 10% annually, due to the impact of the pandemic this is only 7-8%. Therefore, businesses must have strategies and plans for outstanding growth, cannot let businesses go backwards because it will affect the evaluations from banks, supply partners and external investment partners.