Khanh Viet Corporation firmly overcoming challenges

Khanh Viet Corporation (Khatoco) is the leader of the business community of Khanh Hoa province; continuously stands in the group of large enterprises in Vietnam. In the context of many difficulties and challenges, Khanh Viet Corporation has united, innovated, created, and steadly overcome many challenges, positively contributing to the socio-economic development of the province.

In 2023 and in the first months of 2024, Khanh Viet Corporation has made many efforts and implemented many solutions to maintain stable production and business activities, striving to fulfill the highest targets and plans the State assigned. Specifically, in 2023, consolidated revenue reached 8,901 billion VND, reaching 106% of the plan; consolidated pre-tax profit reached 301 billion VND, reaching 131% of the plan; export turnover reached 56.3 million USD, reaching 120% of the plan; the total amount delivering to the national budget (3 main taxes) reached 3,326 billion VND, reaching 106% of the plan. In the first 5 months of 2024, Khanh Viet Corporation's production and business targets continued to grow exceedingly over the same period. Specifically, consolidated revenue reached 3,760 billion VND; export turnover reached 23 million USD; the total amount delivering to the national budget (3 main taxes) reached 1,440 billion VND.

The Central resolutions have given Khanh Hoa many specific mechanisms and policies for the province to develop quickly and sustainably, making Khanh Hoa a city directly under the Central Government by 2030. In that context, Khanh Viet Corporation determined its strategic goal in the new situation, which is to focus on investing in developing core industries with competitive advantages of the corporation and industries with potential and strengths in the spearhead sector in the local development strategy. The corporation has focused resources on implementing in Khatoco Khanh Hoa Tobacco Factory project with a scale three times larger than the previous factory, with a total area of ​​nearly 12 hectares and a total investment of more than 1,000 billion VND, creating jobs for more than 650 workers. New, spacious infrastructure with a closed system of factories and warehouses meeting international standards and advanced machinery and equipment lines, especially the tobacco processing line, which is considered the most modern Southeast Asia, with a capacity of 21,600 tons/year, has improved competitiveness in the market, contributing to the development of Khanh Hoa province's industry in particular and the country in general.

Khatoco Khanh Hoa Tobacco Factory

Accompanying the province's socio-economic development orientation, in which tourism is identified as a key economic sector, Khanh Viet Corporation has focused on in-depth investment in tourism infrastructure projects according to different direction in eco-tourism and resort, creating many new tourism products, improving service quality and experience for tourists. Besides, in order to contribute to attracting investment and promoting socio-economic development of the province, the corporation has invested in 2 industrial clusters in Cam Lam district and Ninh Hoa town with favorable locations, complete infrastructure and convenient connection to important traffic axes in the region, so it has attracted many secondary investors.

Recently, at the conference with State-owned enterprises, Prime Minister Pham Minh Chinh praised State-owned enterprises for their many contributions to socio-economic development from the beginning of the term until now and in the first 5 months of 2024. The Prime Minister also believed that with a pivotal role in using and managing large resources with solidarity, high determination, great efforts, and drastic actions, State-owned enterprises will continue to be resilient in overcoming all difficulties, challenges, contributing to promoting growth, controlling inflation, maintaining macroeconomic stability, and ensuring major balances of the economy.

Khanh Viet Corporation will continue to make the best efforts to perform well the tasks for sustainable development, contributing to promoting socio-economic development of the province.

Hai Lang

Translated by T.T