SABECO supporting localities hit by Typhoon Yagi

The relief scheme has a budget of VND4.2 billion ($175,000), with which SABECO and its partners are sending essential goods and supplies to residents in the flood-stricken areas of Bac Kan, Cao Bang, Lao Cai, Thai Nguyen, Tuyen Quang and Yen Bai. An additional $2,000 in financial aid was sent to frontline forces in each province to assist with post-disaster recovery efforts.

The essentials, including bottled water, food, and flashlights, were sourced from MM Mega and Chuong Duong Corporation and were distributed to beneficiaries by local authorities and provincial CYU members.

One of the strongest storms to hit Vietnam in the last 30 years, Typhoon Yagi left most of the country's north in ruins. Many lives have been lost, a great deal of property has been damaged, and local infrastructure has been severely disrupted by the storm and its aftermath. The Ministry of Planning and Investment estimates that Yagi has cost Vietnam's northern provinces VND40 trillion ($1.6 billion). This means that the country's GDP growth rate could be 15 per cent lower than previously projected.

With 44 member companies in the same ecosystem and more than 12,000 employees, SABECO is committed to ensuring the safety and wellbeing of its employees, particularly at the subsidiaries and factories managed by Bia Sai Gon Dong Bac Trading Company and Bia Sai Gon Mien Bac Trading Company, which have been directly impacted by Typhoon Yagi.

While the Board of Management of SABECO has been closely working alongside SABECO’s Labour Union to ensure the safety of employees and their families.

Lester Tan, CEO of SABECO, said, "In times of crisis, it is essential for us to provide tangible support. We are focussed on delivering essential aid to communities while ensuring the wellbeing of our employees as well as the continuity of our business. This highlights SEBECO's human-centric values as well as our commitment to promote sustainable development in Vietnam."

SABECO has been contributing to community projects and sustainable development initiatives aimed at fostering positive values for many years. The company’s commitment extends beyond its core business activities, reflecting a deep dedication to the nation's resilience and progress.

During the pandemic, SABECO demonstrated its support through initiatives like 'Collecting A Million Stars', which allocated VND3 billion ($130,450) to assist 600 small businesses in Ho Chi Minh City; the 'Community Care' scheme that contributed VND8.9 billion to support more than 200 hospitals and frontline forces. Additionally, the 'SABECO Cares' programme was launched to safeguard employee health and safety.

Since 2020, SABECO has invested over VND43.3 billion ($1.8 million) to support labourers across 63 provinces, ensuring they could enjoy a meaningful Lunar New Year despite economic challenges. SABECO’s continued efforts highlight its role as a reliable partner in Vietnam's growth and resilience.

In partnership with the HCYU, SABECO has previously executed impactful projects such as 'Light Up The Rural', illuminating 73km of rural roads, and 'Fostering Sports', upgrading 30 community sports fields.

Vietnam's GDP may slow up to 0.5 per cent due to Typhoon Yagi The impact of Typhoon Yagi may reduce Vietnam's 2024 GDP growth by between 0.2 per cent to 0.5 per cent, according to a report released by Mitsubishi UFJ Financial Group (MUFG) on September 16.

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