This will simultaneously achieve and increase market share in the domestic market with strategic products in the electrical equipment field, gradually expanding into suitable foreign markets.
GELEX currently owns many reputable brands in the electrical equipment industry such as Cadivi, Thibidi, Emic…
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By improving the efficiency of production and business, continuing to implement cost optimization solutions, balancing debt, controlling inventory, streamlining machinery/personnel, enhancing risk management… the units in the GELEX system can enhance their competitive capacity, maintain their position, and support sustainable growth.
In the direction of production and business activities, in the construction materials sector, GELEX is orienting its units to promote green products, apply environmentally-friendly solutions, and energy-saving practices. In the real estate business, GELEX is increasing its value chain, improving service quality, and increasing amenities to enhance business efficiency and maximize land resources.
Evaluating the macroeconomic context, which is expected to recover but still poses many difficulties, GELEX has established a plan with the target of consolidated net revenue of VND 32,303 billion, consolidated pre-tax profit of VND 1,921 billion, increasing by 7.7% and 37.5% respectively compared to 2023.
In terms of investment direction, in the recently announced Shareholders’ General Meeting documents, GELEX stated that in 2024, the Company will continue to restructure its existing investment portfolio, focusing resources on potential sectors according to the defined strategy.
Building on the foundation of cooperation with reputable multinational corporations such as Frasers Property, Sembcorp, this year, the GELEX BOD sets the direction to continue pursuing the strategy to develop a partner ecosystem to participate in global value chains, expand and upgrade segments with high added value products and enhance export activities.
GELEX and Frasers Property Vietnam collaborate to create large-scale industrial products in the North
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Especially, in its strategy, GELEX is also gradually transforming industrial real estate from a basic traditional form into an integrated eco-urban model, towards green and sustainable development. A well-planned industrial city will be a convergence of production, living, and commercial spaces, attracting leading global businesses.
The Company is also prepared to mobilize large-scale long-term capital both within and outside the country, and to raise funds when market conditions are appropriate. Furthermore, GELEX is preparing well its foundation (human resources, partners, capital,…) for large-scale strategic infrastructure projects (power supply, industrial parks,…)
Within this year, GELEX also aims to enhance the quality of its system management to create a premise for breakthroughs in its business activities and achieve the set objectives. Specifically, in 2024, GELEX will gradually apply the ESG Integrated Management Framework (Environment – Society – Corporate Governance) effectively; establish a Corporate Risk Management Framework with the guidance of a Big 4 advisory organization.
GELEX is also implementing important activities such as: the Corporate Culture Renewal Project to create consensus and unity throughout the entire system; the Human Resources Development Project, focusing on consolidating and developing existing personnel, recruitment and attraction of talent…
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