(Vietstock) –Thanh Thanh Cong JSC (TTC) organized a year end meeting on 19 January 2015 to review its business activities in 2014 and make plans for 2015.
2014 is seen the year with several positive changes in the domestic economy. Some enterprises had profits; some made great efforts to overcome difficulties and particularly to adapt themselves to the global integration process. Enterprises most concern on solutions to move further in the process of WTO integration, ASEAN Free Trade Area, or ASEAN Economic Community in 2015.
2014 year-end and 2015 target signing meeting
TTC is a multi-industry corporation, mainly in cane sugar, hospitality and real estate. Facing challenges as other enterprises in these industries, they show few signs of recovery, yet not significantly.
According to the international integration process, ASEAN countries have set forth the Common Effective Preferential Tariff (CEPT) Scheme, removing protectionism methods and trade barriers among the member countries to move toward an ASEAN Free Trade Area (AFTA). Particularly in the cane sugar industry, the tariff in ASEAN countries was set to be gradually reduced from 30% in 2007, 20% in 2008, 10% in 2009 and 5% from 2010 till now for refined and raw sugar) and it will be 0% in 2015. Therefore, TTC is well aware of how to maintain its market shares and continue to develop.
In such a situation, TTC actively takes actions and makes improvements in order to better adapt itself to the situation. It must improve its input by building a stable raw materials area, strengthen the relationships with the farmers with the idea that “farmers can benefit and the company can make profits”. It must also improve its production line to ensure good quality of the products. Then, it must take major measures of marketing activities in order to stand firm in the process of global integration. Combining the 35-year experience in the sugar industry with suitable management, TTC expects to provide good quality products and make good use of the whole value chain of the sugar industry. There have been positive signs when the sugar prices on the domestic market have fallen to record lows, and some companies sell sugar at below VND11,000/ kg. The sugar prices on the world markets tend to increase greatly. The price of raw sugar delivered in March reached 15.86 cents/ pound after the transaction session at the New York market on 20/Jan/2015, increasing by 9% over the late December, 2014. TTC believes its measures will be greatly effective.
With regard to its other industries, TTC, with its own management strategy, makes TTC brand prominent in its subsidiaries in other industries (hospitality, development of industrial parks, agriculture products,…).
2015 is expected to be a prosperous year with economic recovery. TTC continually executes its development strategy for the 2015-2020 period. In addition to providing good quality products for the market, TTC believes in its plans for stable development, with an average increase of 10% each year. Moreover, TTC builds a foundation for sustainable development by bringing great benefits for clients, consumers and community, especially through the figures of its considerable payments to the State and corporate social responsibility initiatives.
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