Saigon Beer-Alcohol-Beverage Corporation has rolled out a new programme in the spirit of being stronger together during the festive season.
The company (SABECO) is collaborating with the Vietnam General Confederation of Labour and the Ho Chi Minh Communist Youth Union for the “Together We Make Tet” initiative, which is part of Bia Saigon’s Lunar New Year campaign this year.
rewers have a history extending back thousands of years and have become a vital cultural aspect of festivals, family reunions, and social gatherings. After a busy year outside, people can return safely to their families to be reunited with their loved ones as the traditional Vietnamese holiday known as Lunar New Year approaches.
|A SABECO programme is honouring the contribution of the workplace to economic development |
SABECO general director Bennett Neo said, “We understand and appreciate the significance of Lunar New Year. It is the most precious time to come together and reunite to share joy and love with one another, and to welcome the new year.”
Through the programme, 8,000 gifts amounting to almost $243,500 will honour the contribution of the workforce to the economic development of Vietnam. They make one of the greatest contributions to Vietnam’s economic development, Neo said, but sadly can also be the most vulnerable – being the hardest hit when the pandemic happened is a case in point.
Vietnam’s economic recovery has nevertheless advanced in the previous six months, thanks to sturdy manufacturing and a strong recovery in services. According to a World Bank economic assessment for Vietnam released in August, GDP growth is expected to increase from an estimated 2.6 per cent in 2021 to 7.5 per cent in 2022, with inflation expected to average 3.8 per cent during the year.
However, this optimistic view is subject to increased risks that jeopardise recovery chances. Such risks include a slowing or stagnation of growth in major export markets, additional price shocks, continued disruption of global supply networks, and the introduction of new pandemic concerns.
With all these issues in the air, Neo said that SABECO is committed to sustainable development in order to further foster tripartite partnership with the government, private sector, and social organisations to support the living standards of communities and contribute to the overall sustainable development of the country.
Meanwhile, welcoming in Lunar New Year 2023, Bia Saigon is continuing to inspire with its unique collection of 63 can designs.
The collection boasts the five distinct colours of red, orange, green, blue, and yellow, symbolising the five elements in Vietnamese spirituality and sending wishes for a prosperous and peaceful new year. In recent weeks, the collection continued to be introduced to numerous consumers in Hanoi within the framework of the “Proud of Vietnamese goods” initiative implemented by the Ministry of Industry and Trade.
For several years, the company has coordinated a variety of efforts to assist struggling employees in returning home for the festive period. For example, SABECO is collaborating with the Communist Youth Union to expand and make its new Lunar New Year programme more accessible. Furthermore, community efforts are implementing a series of significant festive activities to promote the unique Vietnamese identity and make positive changes that bring pride to the country and its people.
Since 2018, SABECO has been redefining its brand and restructuring its business, with the goal of transforming the company into a globally competitive corporation of which Vietnamese citizens can be proud. It has also created a paradigm of sustainable development that focuses on consumption, conservation, country, and culture.
| ||SABECO reaps rewards with Q3 results |
Saigon Beer-Alcohol-Beverage Company is demonstrating its strategic vision with good preparation and effective cash flow management, bringing it more benefits in the context of many businesses facing cash flow scarcity.
| ||Sabeco's post-M&A strategy |
Saigon Beer-Alcohol-Beverage Corporation (Sabeco) is one of the largest-scale manufacturing companies in Vietnam. In 2017, Thaibev (Thailand), through its subsidiary Vietnam Beverage, acquired 53 per cent of Sabeco and this deal became one of the biggest of the decade. Bennett Neo, CEO of Sabeco, shared the process of the group shifting to an international standard-operated company at the Vietnam M&A Forum 2022.
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Saigon Beer-Alcohol-Beverage Corporation is on track to further activate its transformation agenda that will strengthen its operational capabilities and modernise its governance system.
| ||ThaiBev sets out 2023 expansion plans |
Thai Beverage Plc. (ThaiBev) currently owns 53.6 per cent of SABECO and is intending to expand investment into other businesses in 2023. However, it prioritises existing businesses and those it recently acquired to post the best returns.
By Nha Phuong