SCIC enhances the collaboration between Vietnam Dairy Product JSC and Hau Giang Pharmaceutical JSC
- Le Kim Chi
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Press Release
SCIC enhances the collaboration between
Vietnam Dairy Product JSC and Hau Giang Pharmaceutical JSC
March 22, 2018, Ho Chi Minh City - the MOU signing ceremony between Vietnam Dairy Product JSC (Vinamilk) and Hau Giang Pharmaceutical JSC (HGP) was organized.
According to the signed MOU, Vinamilk and HGP will collaborate in R&D to develop a new line of product of Vinamilk with medicinal ingredient.
Vinamilk and HGP are leading companies in their fields. The cooperation of the two key players of the market is aimed at exploring and realizing their strengths in ingredient sources, production capacity and brand name to develop new products; take full advantage of their domestic and foreign distribution networks to optimize costs and meet the dairy and pharmaceutical technical requirements, and increase the product exposure to consumers, both locally and internationally. “Vinamilk and HGP are key companies under SCIC’s portfolio. The collaboration between SCIC will enhance these two companies’ strengths. As a shareholder at companies, SCIC will foster this kind of cooperation among our portfolio companies to take full advantage of these companies’ strengths, create added value for shareholders, including state shareholder”-said Mr. Nguyen Duc Chi, SCIC’s Chairman, at the ceremony.
Vinamilk is known as a company with advanced and effective corporate governance system in Vietnam with stable growth over the past 10 years. Vinamilk is considering to expand its business to keep up its growth and uphold its existing strengths.
HGP is a leading pharmaceutical firm in Vietnam and like Vinamik, HGP has managed to develop a strongest distribution system. HGP is restructuring and improve its corporate governance to raise its performance and position in the pharmaceutical industry.
SCIC is the state ownership representative at nearly 100 companies. SCIC is currently holding 36% of Vinamilk’s stake and 43% of HGP’s stake. As a shareholder, SCIC participates in the decision-making process to develop these companies’ development strategy, introduces strategic investors for them, connects and enhances the collaboration opportunities among these companies, helping them improve their performance and ultimately, add value to the state capital and increase the dividend income for the state budget.
