Vicostone ranked in Việt Nam's top 100 sustainable businesses in 2021

December 09, 2021 - 10:15
This is the sixth consecutive year Vicostone has been listed in this ranking, which recognises the endless efforts and proactive adaptation the company has made in recent years, while affirming its solid governance foundation, sustainable business development and efforts creating long-term value ​​for the community.


A group working session of Vicostone employees. — Photo courtesy of the company

HÀ NỘI — Vicostone and its parent company Phenikaa Group have been named among the Top 100 sustainable enterprises in the country in 2021, the Việt Nam Chamber of Commerce and Industry (VCCI) has announced. 

This is the sixth consecutive year Vicostone has been listed in this ranking, which recognises the endless efforts and proactive adaptation the company has made in recent years while affirming its solid governance foundation, sustainable business development and efforts creating long-term value ​​for the community.

For Phenikaa Group, this is the fourth consecutive year it has been selected in the list. 

The Việt Nam's top 100 sustainable enterprises have been honoured by Vietnam Business Council for Sustainable Development, VCCI, the Ministry of Labour, Invalids and Social Affairs, the Ministry of Natural Resources and Environment and the General Confederation of Labour since 2016. The Corporate Sustainability Index (CSI) continues to be used as criteria to assess the sustainable development of businesses.

In order to be recognised as one of Việt Nam's leading sustainable enterprises, Vicostone has met the CSI Index of 127 indicators in four areas: sustainability results, competent governance, environmental protection and sustainable labour practices.

Vicostone recorded a total net revenue of over VNĐ5.2 trillion and pre-tax profit of over VNĐ1.54 trillion in the first nine months of 2021, up 30 per cent and 37 per cent respectively over the same period last year, according to its nine-month financial statements. 

The company has fulfilled 77 per cent of its net revenue target and 80 per cent of profit goal set for this year thanks to its comprehensive initiative, sufficient risk management capacity and its flexibility to adapt to any market fluctuations.

"This is a remarkable achievement that Vicostone has made amid the fourth wave of COVID-19, which has created many challenges and difficulties for business in a wide range of industries," the company said in a statement. 

With support from Phenikaa Group, Vicostone has been completely self-sufficient in raw materials such as quartz, cristobalite and resin, thereby minimising risks of dependence on imported raw materials, risks of exchange rate fluctuations, optimising prices, and then increasing its competitiveness.

Besides ensuring its sustainable business performance, Vicostone has also focused on green production, linking economic benefits with environmental protection.

Solar battery panels being installed at a Vicostone building. — Photo courtesy of the company

The company has considered green production as a guideline to orient all activities to realise sustainable development. With advanced equipment transferred from Breton Co of Italy, Vicostone's entire production process has been carried out in a closed manner and has been environmentally friendly. 

Meanwhile, Vicostone has also focused on community and social support activities.

Right from the early days of the COVID-19 pandemic, the company established a Steering Committee for Disease Prevention and Control, that helped implement measures to ensure the health and safety of employees.

During the social distancing period, the company continued to maintain jobs for employees thanks to its efforts to implementing the "3-on-the-spot" model and online work.

It also promoted recruitment and training activities to prepare resources for the development plan in the next period. By the end of November, Vicostone had a total of 781 employees, of which the number of new recruits was 58, an increase of 8 per cent compared to the beginning of the year.

Additionally, Vicostone has always actively joined hands with the Government and local authorities to implement many meaningful community activities.

Vicostone and Phenikaa Group have donated nearly VNĐ50 billion for the vaccine fund, medical staff, government agencies, and local authorities to fight fight the disease, besides offering technological solutions such as a self-driving disinfection robot and a CovidMap. 

With the efforts and results achieved in the challenging year of 2021, Vicostone has been appreciated by not only the Vietnam Business Council for Sustainable Development, but also through many awards from prestigious organisations, including the Top 50 best listed companies in Việt Nam, Hà Nội's 10 key industrial products, Việt Nam's 50 best-performing companies, Top 500 largest enterprises in Việt Nam and a prestigious export enterprise. — VNS