Dear shareholders, investors, partners, and esteemed customers,
The year 2023 concluded against the backdrop of a consistently adjusted global GDP growth forecast, leaning cautiously towards approximately 2.9%. This reflects the continuation of a cyclical pattern occurring every 10 years, albeit with more challenges compared to previous cycles. Just as the global economy was recovering from the pandemic, the emergence of complex conflicts in various countries posed additional hurdles. Furthermore, the El Nino phenomenon in the latter part of 2023, combined with significant climate change, led to contradictory shifts in food supply, somewhat impeding the efforts to sustain the growth pace, particularly in developing countries like Vietnam.
It is imperative to acknowledge realistically that 2023 was not particularly favorable for many economic sectors. This year also marked the third year in the 5-year development strategy (2021 - 2025) of the Group. Most of the changes were foreseen and identified by the leadership of the TTC Group, allowing for optimal preparation and adjustment.
Dear stakeholders,
Established on July 28, 1979, in tandem with Vietnam's economic renewal, the TTC Group underwent a robust transformation from a trader and producer to a professional investor, operating across diverse fields such as Agriculture, Energy, Real Estate, Industrial Real Estate, Tourism, and Education. The nearly five decades of formation and development vividly demonstrate the distinct imprint of the founders and the successors' ability to overcome challenges.
Despite the forecast of continued uncertainty in 2024, with international conflicts showing no signs of abating and regional economies requiring more time to recover to pre-2020 growth levels, the TTC Group remains resolute. With a diversified business model, including essential areas of human life, it focuses on environmentally friendly investment portfolios, actively contributing to the overall development of the economy with the motto "For the community, local development."
2024 also signifies the 45th year of the TTC Group's proud development journey—a milestone achieved by few private economic organizations, with a scale comprising 6 industries and over 120 subsidiaries in Vietnam, Laos, Cambodia, Singapore, and Australia. The TTC Group not only strives for efficiency in its production and business activities but also fulfills the mission of creating added value for all participants in the group's value chain, assuming full responsibility for the community and society. This is a responsibility that a large enterprise must fulfill, albeit not delegated by anyone.
Immersed in the flow of the economy, TTC's internal strength is increasingly bolstered to keep pace with the general development trend. In addition to ongoing investment in environmentally friendly portfolios, all subsidiaries and TTC staff commit to meeting tangible "green" criteria in line with global trends. This encompasses technology, the environment, labor, carbon emissions reduction, pioneering ESG standards (Environment, Social, Governance), and equipping themselves with intangible "green" elements, namely ethics and responsibility, contributing to enhancing the position of Vietnamese Enterprises - Vietnamese Brands.
Representing the Leadership of the TTC Group, I sincerely express profound gratitude to all of you for your trust and companionship with TTC throughout the years. We hope to continue receiving your support and trust in the time ahead.
With confidence in the future recovery of the global economy, we believe that the TTC Group specifically, and the Vietnamese business community in general, will stride confidently, with a high determination to overcome limitations, prosper, and share more values.
Wishing you good health, happiness, and success!