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Hanoi (VNA) – Romanian media have reported that the Vietnamese National Assembly had successfully consolidated key leadership position s, and showed their hope Vietnam-Romania cooperative ties would develop to a new height in the future.

Major news and press agencies such as Agerpres, Romaniatv.net, Republicatv.ro, Proarges.ro, Digi24.ro, and Stirileprotv.ro simultaneously reported the event that the Vietnamese NA approved senior leadership positions, who are expected to inherit impressive achievements of Vietnam in the past term and create new development steps, including further promoting the good tradition of the Vietnam – Romania friendship.

They said that in the last five years, the Vietnamese Government has created achievements with innovation and overcome many difficulties and challenges thanks to its dynamism and drastic direction and management.

Under the timely and close leadership and direction of the Party and State, along with the drastic direction of the Government, Vietnam overcame three waves of COVID-19 pandemic outbreaks, bringing the Vietnamese economy to become one of the economies that has stably developed, not severely affected by the pandemic, and reaching a growth rate of 2.91 percent by 2020.

The Romanian media said that at the beginning of the 2016-2021 government term, the size of the Vietnamese economy ranked 48th, but Vietnam’s ranking has increased 11 places to 37th in the world.

Vietnam is expected to join the group of developed countries with high income in 2045, the Romanian media stressed.

Vietnam’s participation in international trade agreements, especially the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the European Union-Vietnam  Free Trade Agreement (EVFTA) , and its role as ASEAN Chair in 2020, and a non-permanent member of the UN Security Council at present are the hallmarks proving the integration, prestige and responsibility of Vietnam in the international arena.

The news outlets also spotlighted the fruitful development of the traditional friendship and multifaceted cooperation between Vietnam and Romania over the last seven decades.

Vietnam is one of Romania’s major economic partners in Asia and a leading trade partner of the European country in Southeast Asia, they said, adding that these are a foundation for stronger development of the bilateral cooperative relations in the coming time./.

VNA

During the most difficult period of 2020 that was plagued by COVID-19 and tough new local drink-driving rules, Neo Gim Siong Bennett, who is the general director of SABECO, kept the faith in its strategy. “This storm will soon pass, and the sun will be out again,” he said. “In the meantime, we will focus on weathering through this storm, and be fully prepared to make hay when the sun shines again.”

The spirit of being willing to accept tough trials is rooted in the company’s transformation strategy that started sharply three years ago after Thai Beverage acquired a majority stake when the state-owned brewer was sold off.

SABECO is one of the top Vietnamese corporate brands and the market leader in Vietnam’s beer industry. The sale set a pivotal milestone for its upcoming development, in which the company is focusing on sustainable business growth through harnessing synergies across brand strength, financial capacity, manufacturing and distribution systems, local market insights, and strong and transparent management.

Now, the transformation is set on much bigger challenges. While the beer and the branding may not change, SABECO is striving to change the organisation’s overall picture, creating jobs and contributing to the local economy.

Positive results

Before the changes in leadership, SABECO was a strong brand with a large position in a market of nearly 100 million people with the third-largest alcohol consumption in Asia. From a new marketing mindset to the strength of supply chain management, the new team has brought a different mindset to push SABECO further. Thus, the company focused on seven strategic pillars – sales, brand, production, supply chains, cost, human resources, and the board.

In 2019, the first year under the transformation strategy, SABECO achieved record profits as well as earned international awards.

It beat many strong candidates from countries around the world to win the gold medal for the International Smallpack Lager Competition, Class category, at the International Brewing Awards; and the gold medal for the German Heritage category at the International Beer Cup.

The company’s sales that year recorded nearly VND37.9 trillion ($1.65 billion), equivalent to an increase of 5.4 per cent compared to 2018. The increase in revenue mainly came from the increase in sales volume and higher selling prices for various products during the year while profit after tax reached VND5.37 trillion ($233 million), a rise of 22 per cent compared to the previous year.

New challenges emerged for all in 2020 with the arrival of the coronavirus pandemic. Widespread restrictions have disrupted supply chain and business operations, and dampened economic and social activities. Measures to contain the spread such as the closure of bars, pubs, karaokes, and night clubs have been prevalent in numerous cities and provinces throughout Vietnam.

The beer industry was further affected by the implementation of a new decree on zero alcohol tolerance while operating a vehicle, featuring heavy penalties. As a result, on-trade beer consumption was seriously affected.

But the hard times of 2020 could not destroy SABECO’s plans for product innovation and transformation, as well as initiatives to upgrade its facilities. It even launched a new beer named Saigon Chill to take over the premium beer segment.

According to Viet Capital Securities, the presence of new product such as Saigon Chill in stores and signboard increases over the past three months alone has helped cementing the company’s position in the market. SABECO also continues to rank in a range of updated awards such as top five in terms of value on the top 50 most valuable brands in Vietnam by Forbes Vietnam for the last five years in a row; and in the 50 best listed companies for the last four consecutive years, among others.

Last year, the company recorded net revenues of almost VND31.3 trillion ($1.36 billion), which was down 21 per cent compared to 2019 due to aforementioned pressures. However, profit after tax reached VND4.6 trillion ($200 million) due to cost-cutting, far exceeding its plan of VND3.5 trillion ($152 million) and down only 8 per cent on year. This demonstrated a strong position in the Vietnamese market as well as overseas with endless efforts, according to its report to the Ho Chi Minh City Stock Exchange in late March.

SABECO’s transformation strategy is a long journey and the pandemic is likely to continue to slow down growth, but not for the company’s willing and determination. “Good to great transformations do not happen overnight,” Bennett stressed.

The vision ahead

According to SSI Research’s Vietnam Beer Sector Outlook report, the beer sector has been very sensitive to the pandemic and pointed out that “recovery momentum will continue, but the demand is forecasted to return to pre-pandemic levels not in 2021, but 2022.”

Although Vietnam has handled situation very well compared to other markets, and the catering and entertainment has improved, food traffic is still a long way off 2019 levels.

SABECO predicts competition to remain stiff with every brewer vying for a higher market share, in which the trend of consuming mass premium beer brands will continue to grow over the long run. However, potential consumers’ down-trading may have an impact on 2021 sales due to their income being affected by the lingering pandemic.

“Vietnam is one of the fastest-growing countries in ASEAN, and as the country develops, the people’s income will increase,” said Bennett in a recent interview. “That is a growth opportunity not only for beer but also for many other industries. In the next 1-2 years, I think things will bounce back to the way they used to and the market will continue to grow.”

The pandemic also made the company think about what it would take for SABECO to continue being successful in the decades to come, and remaining part of the country’s rise and development. And one of the most important factors is to retain staff and keep them safe.

Human capital is one of core competitive elements in SABECO’s strategy, with global and regional talents helping to facilitate knowledge transfer via training and mentorship. Not only does this raise SABECO’s overall human capital and capabilities, but it will also enable the company to develop even more world-class talents among its ranks.

With an eye cast towards the future, SABECO is officially setting targets for the rest of the year as well as solutions planning at its annual general shareholders’ meeting. All will be discussed, including ideas from investors and shareholders this month.

Today, the company’s network includes 26 subsidiaries and 18 associates and joint ventures, with more than 145,000 product consumption channels spanning across the country. For the last three years, it has offered a brand portfolio consisting of some of the most well-loved beer brands in Vietnam including Bia Saigon Special, Bia Saigon Export, Bia Saigon Lager, Bia Saigon Gold, Bia Lac Viet, Bia Saigon Chill, and Bia 333.

Singapore (VNA) – Singapore and the US will deepen bilateral cooperation in the transport sector, particularly in safely reviving international air travel amid the COVID-19 pandemic, the Singaporean Ministry of Transport (MOT) and the US Department of Transport said in a joint statement.

The statement, which followed a virtual meeting between Singaporean Transport Minister Ong Ye Kung and his US counterpart Pete Buttigieg, reaffirmed that both countries are parties to the Paris Agreement.

The two countries are exploring areas of possible collaboration on climate action in transportation, including alternative fuels, electrification, market-based measures and technological advancement.

Singapore and the US can work together on advancing the development and deployment of sustainable aviation fuels and other clean technologies, identifying new climate-related innovations such as electric vehicles and related infrastructure, and exploring climate-friendly practices in urban transport planning, including reducing unnecessary trips and encouraging low-emission options such as cycling, said the statement.

Both sides also intend to strengthen cooperation at the International Civil Aviation Organisation (ICAO) and International Maritime Organisation (IMO) to keep aviation and maritime transport open, efficient, reliable, safe, sustainable and resilient.

Travel between the US and Singapore has yet to fully restart.

There are no restrictions on passengers flying to the US from Singapore, aside from having to do on-arrival testing and self-quarantine. But for the most part, only those holding permanent residency or other forms of long-term passes are allowed to fly to Singapore from the US./.

VNA