Nam Long Investment steps up pandemic support

June 23, 2021 | 11:53
Nam Long Investment JSC has donated over $521,000 to support the community in prevention, constraints, and recovery activities during the COVID-19 pandemic.
Nam Long Investment steps up pandemic support
Nam Long Investment JSC has provided everything from bodysuits and ventilators to food and drinks

As the latest outbreak began to affect the country, the group quickly implemented a programme with a total budget of $521,700 contributed from company coffers, leaders, and staff.

Programme activities include support to the state’s COVID-19 vaccine fund, and supplying full bodysuits and medical equipment to leading hospitals in Ho Chi Minh City and Bac Giang province – one of the worst-hit areas.

At the same time, the programme also covers several activities to promote awareness and improve the physical and mental health of the community in urban development projects developed by Nam Long and the broader community in general.

Tran Xuan Ngoc, general director of Nam Long, acknowledged that the pandemic has caused hardships for the whole country, affecting people’s lives in many aspects.

“As a company that always prioritises social responsibility and sustainable development, Nam Long relaunched this programme with enthusiastic participation from employees who are working with the government, healthcare agencies, and people to prevent and recover during the epidemic. The programme also reaffirms the mission of Nam Long in building a valuable living environment for the community,” Ngoc said.

The scheme was initiated by Nam Long’s chairman of the board during the first outbreak in 2020, and featured many practical and effective activities.

Among those were accompanying armed forces at the border gates with prevention methods, supporting healthcare forces to fight against the pandemic, and supporting low-income workers by installing a machine to provide rice for local people.

In addition, Nam Long has provided 5,000 full bodysuits and 15,000 sets of gloves, as well as ventilators and drinks to medical staff working at a range of facilities such as the Hospital for Tropical Diseases, Children’s Hospital 2, Gia Dinh Hospital, and a field hospital for treating COVID-19 patients in Cu Chi district.

As one of the largest housing developers in Vietnam, Nam Long has achieved stable business in recent times.

At the group’s annual shareholder meeting in April, the group set a sales target of reaching revenues of VND13.5 trillion ($586 million) in 2021, profit after tax of VND1.1 trillion ($50 million), and average forecasting growth of more than 30 per cent in the 2021-2023 period.

Land fund development and housing are identified as Nam Long’s two key businesses. According to its plan, in the next three years these two segments are expected to have an annual growth rate of 85 per cent in sales and 72 per cent in revenue.

This year, Nam Long expects revenue from housing and township development to be more than VND5 trillion ($217 million), with a profit of about VND550 billion ($23.9 million). Outstanding projects include the Southgate (Waterpoint phase 1), Akari City, Mizuki Park, Flora Novia, and Nam Long-Can Tho.

Nam Long is moving from a leading affordable housing developer to an integrated urban development developer. To expand its investment portfolios, it is further developing more projects in Hanoi and other second-tier provinces and cities with high economic development potential, as well as a great demand for labour force and accommodation.

In investment, Nam Long will mobilise its sources via mergers and acquisitions and appealing for overseas investment. In addition, this year the group plans to issue 60 million shares in private replacement to raise funds for land development.

By Bich Ngoc

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