Masan overcomes COVID-19 challenges to make it into Vietnam's top 5 private groups

December 04, 2021 | 16:39
Despite the challenges caused by the pandemic, Masan Group has made efforts to maintain its production and supply chains, achieving revenue growth in the first nine months of 2021 and become one of the top 5 largest private companies in Vietnam in 2021 according to Vietnam Report.
Masan overcomes COVID-19 challenges to make it into Vietnam's top 5 private groups
Masan overcomes Covid challenges to become one of Vietnam's largest five private groups

Masan, Vietnam's leading consumer and retail company, owns a system of more than 30 factories and a series of high-tech breeding and agricultural production farms in most key economic regions of the country. The country also boasts a retail chain with nearly 2,500VinMart supermarkets and VinMart+ stores, providing essential products to consumers.

Masan has actively implemented many pandemic prevention measures to avoid supply chain disruptions while providing relief to locals. Since the onset of the pandemic, Masan and its subsidiaries have formulated detailed scenarios with several response measures to cope with the pandemic.

The group has also shaken hands with reliable partners to ensure smooth supply at reasonable prices for consumers. At the same time, Masan has also deployed multi-channel sales via websites, e-commerce platforms, mobile apps, phone, and online grocery delivery for people in quarantine areas.

Besides maintaining the supply chain, Masan has rolled out many initiatives to promote business and revenue growth while bringing convenience to consumers during the pandemic. Housewives can save time in the kitchen with CHIN-SU 7 dishes or HiFresh ready-to-eat foods. Meanwhile, the multi-utility mini-mall store concept fully serves consumers' essential demands. Since its inception in June 2021, Masan's new mini-mall stores have received positive feedbacks from customers.

In the first nine months of 2021, Masan Group posted a net revenue of VND64.8 billion($2.82 million), up 16.5 per cent compared with VND55.62 billion ($2.42 million) in the corresponding period last year. All of Masan's business segments have seen an increase in revenue. Specifically, the revenue of Masan Consumer Holdings, Masan MEATLife, and Masan High-Tech grew 14.3, 32.8, and 89.3 per cent, respectively.

These positive results have helped Masan climb the VNR500 Ranking conducted by Vietnam Reportin 2021. Masan has become one of the 15 largest enterprises in Vietnam (including state-owned enterprises). At the same time, the group also ranked in Vietnam's Top 5 largest private enterprises in 2021.

Masan overcomes COVID-19 challenges to make it into Vietnam's top 5 private groups
Thanks to the enormous contributions to the local community, Masan has achieved the Asia Corporate Excellence & Sustainability Awards (ACES) 2021 in the Community Initiative category.

Constant contributions to the community

Masan has shown a strong sense of responsibility for the community. Since the outbreak of the pandemic, Masan and its member companies have implemented many programmes to support pandemic prevention and community wellbeing.

In June 2021, Masan has contributed VND60 billion ($2.6 million) to Vietnam's COVID-19 vaccine fund. During the two peak months of the pandemic, Masan has donated essential products and medical equipment for more than 15 field hospitals, COVID-19 treatment hospitals, the city's pandemic control agency, Ho Chi Minh City Police Department, and many others to support frontline workers. As of September, Masan has donated over $270 billion to the people and frontline forces.

Besides, Masan also carries out many activities to improve community life in the places housing the group's factories. The group has coordinated with subsidiaries to implement long-term healthcare, study promotion, and community development programmes.

Furthermore, Masan not only invests in upgrading civil works but also offers loans and vocational training programmes to improve the life and social security of people in localities throughout the country.

Thanks to its enormous contributions to the local community, Masan has achieved the Asia Corporate Excellence & Sustainability Awards (ACES) 2021 in the Community Initiative category.

The ranking of the 500 largest enterprises in Vietnam follows the Fortune 500 model and is based on independent research and evaluation according to the international standards of Vietnam Report. The ranking is published annually since 2007. The VNR500 list is mainly based on total revenue and other business performance indicators (total assets, total employee count, growth rate, profit, and corporate reputation in the media) to assess the current overall strength of each business.

By Thanh Van

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