Nghe An II Seafood Import-Export Joint Stock Company: Autonomy and creativity in business

(Baonghean) - Nghe An II Seafood Import-Export Joint Stock Company is located in Block 11, Cau Giat Town (Quynh Luu), formerly known as 38B Quynh Luu Frozen Enterprise under Nghe An Seafood Import-Export Company.

Established in October 1993, by 2002, with the goal of supporting output for coastal districts to develop the fisheries economy, the Provincial People's Committee decided to separate and upgrade the 38B Frozen Enterprise into Nghe An II Seafood Import-Export Company and separate it from its "parent" company, Nghe An Seafood Import-Export Company. By 2005, the company converted to operate under the model of a joint stock company. With an initial charter capital of only 1,276 billion VND, of which the State capital accounted for 2/3 with 823 million VND, and shareholder capital contributed 453 million VND.

Workers of Nghe An II Seafood Import-Export Joint Stock Company process shrimp for export.

The first thing the company did after equitization was to consolidate and reorganize the management and operation apparatus and rebuild the business strategy, proactively choosing processed products. Instead of making many products, the company chose shrimp to focus on processing for export. With the support of the province, the company was able to borrow 3.5 billion VND to upgrade infrastructure, invest in equipment and processes, and processing technology. Since 2009, the company's production has begun to improve. Along with the innovation of equipment, the company redesigned the process to become an authorized processing unit (instead of processing for businesses), choosing partners who are large seafood exporting enterprises to directly do business abroad.

In order to export high-value goods, the company processes products to supply to prestigious and demanding markets such as Europe, the US, Japan, etc. Persistently pursuing a quality policy and maintaining credibility in business, Nghe An II Seafood Import-Export Joint Stock Company gradually won over customers. In 2009, for the first time, the company's revenue reached a record of 41.06 billion VND, equivalent to 2.3 million USD, an increase of 184% compared to 2008. From 2010 to now, the company's revenue has always increased nearly double the previous year; in 2013 and 2014, the company's revenue reached nearly 90 billion VND, equivalent to 4.2 million USD worth of goods... Thanks to continuous growth, the company has not only paid off all state loans and outstanding debts after equitization but also made a profit. Along with full depreciation of invested machinery and assets, the company creates a value of assets and equipment that increases dozens of times; ensures jobs and income for nearly 100 employees, the average income after paying social insurance reaches 3.2 million VND/employee/month.

One of the noteworthy things about Nghe An II Seafood Import-Export Joint Stock Company is that along with improving production and business efficiency, the company's leaders pay attention to Party building and consolidating the political system. The company has a strong Party cell with 20 Party members, and political organizations operate smoothly; the management apparatus is arranged "2 in 1" so it is quite streamlined and effective. The awareness and responsibility of the company's staff and employees are constantly improved. From members of the Board of Directors to employees, if they are Party members, they must uphold their responsibility and set an example to improve production and business efficiency in order to have jobs and income. From 2009 to now, the company has paid tens of billions of VND to the budget.

Prepare packaging for export shrimp products.

In addition to taking care of human factors, the company is also proactive and creative in business. Along with investing in upgrading the cold storage chain system to improve the quality of product preservation and processing, the company proactively invites assessment organizations to issue product quality certificates; when there are enough orders, it promptly exports to reduce preservation costs, speed up capital turnover; builds and maintains relationships with large customers and partners in and outside the province. On the other hand, to fulfill its social responsibility to the locality where the unit is located, the company actively participates in social and charitable activities such as supporting the "For the Poor" Fund, storms and floods; promptly encourages and visits cadres and employees when they are in difficulty, sick, or in trouble...

With the above efforts, for 3 consecutive years (from 2010 to 2012), the company was awarded the Excellent Emulation Flag by the Provincial People's Committee; in 2013, the company was awarded a Certificate of Merit by the Prime Minister and in 2014 continued to receive the Excellent Emulation Flag from the Provincial People's Committee. In addition to achievements in production and business, the Party Cell, Trade Union and Youth Union of the company were recognized by the Party Committee of the Enterprise Sector, the Trade Union of the Agricultural Sector and the Youth Union of the Enterprise Sector as a unit that continuously achieved the title of clean and strong...

It can be said that to achieve the position it has today, in addition to efforts and creative business strategies, Nghe An II Seafood Import-Export Joint Stock Company has received timely attention and support from the province and especially the Party Committee of the Enterprise Bloc, the companionship of Vinh Joint Stock Commercial Bank for Foreign Trade and shareholders have helped the company gradually overcome difficulties. Mr. Phan Dinh Duc, Director of Nghe An II Seafood Import-Export Joint Stock Company said: The road ahead for the company still has many difficulties and challenges. Currently, the working conditions of workers in the seafood sector are quite difficult and the income is not high. Therefore, businesses must constantly innovate and be proactive in business to create jobs and further increase income and improve working conditions for workers.

Nguyen Hai