Businesses implement many solutions to overcome difficulties
The production and business situation of An Long Food Joint Stock Company (Can Duoc district) was significantly affected by the Covid-19 pandemic and the Russia-Ukraine war. Accordingly, imported raw materials are scarce, product consumption is slow, market prices are high, production and labor costs increase.
Director of Finance of An Long Food Joint Stock Company - Huynh Huy Hoang shared: "Recently, the company encountered some difficulties such as high raw material prices at the beginning of the year; Increased loan interest rates from the end of 2022 to August 22, 2023; Increased base salary ; Increased social insurance, health insurance, unemployment insurance following the new base salary; Increased electricity; Increased USD exchange rate leads to increased cost of importing raw materials. The Company always tries to find solutions, strives to develop the distribution system; minimize wastage, loss, and damaged products in production and management; maintain machinery periodically to ensure labor safety and operating capacity.
Thanks to practical solutions, An Long Food Joint Stock Company gradually overcame difficulties to have a breakthrough in the last months of the year. According to the 2023 plan, as of August, the company's revenue has reached 85% (1,700/2,000 billion VND), striving to have revenue exceed plan by 10% in 2023.
"To achieve the set goals, in addition to improving production and business efficiency, the Company always pays attention to labor safety and hygiene, production environment, fire prevention, and policies for workers so that they can work wholeheartedly and accompany with the company for a long time" - Mr. Huynh Huy Hoang said.
Since the beginning of 2023, International Trimmings & Labels Vietnam Co. Ltd. (Can Giuoc district) has operated normally, not affected because the company's export orders are stable.
Chairman of the Trade Union of International Trimmings & Labels Vietnam Co. Ltd. - Mai Thanh Vu said: "Although the domestic situation has many fluctuations, many companies have reduced working hours and terminated labor contracts, the company still maintain production activities with stable orders. Company's workers have 40 hours of overtime/month and the company is always recruiting workers.
International Trimmings & Labels Vietnam Co. Ltd. has the advantage that raw materials are supplied directly from the headquarter abroad, so there is no need to worry about lack of raw materials. In addition, the company's orders are always stable. However, it is also facing many difficulties in recruiting workers due to the need for skilled workers in the printing industry. Therefore, the company has a recruitment strategy to train workers for 2 months yet still have overtime.
In 2023, International Trimmings & Labels Vietnam Co. Ltd. sets a sales volume of 163% compared to 2022. Up to now, the company has achieved 82% of the target.
With effective solutions, many businesses are overcoming difficulties, achieving breakthroughs and exceeding set targets./.