On September 16, 2023, Gemadept Corporation was honored in the "TOP 50 best-performing companies in Vietnam 2023". This year's TOP 50 event specifically honors many larger scale companies with higher capitalization value and strong growth rates, worthy of being the pride of the country.
The Vietnamese business community was forced to face unprecedented fluctuations in the global economy in the period 2021-2023. This has become a challenge for each business and its ability to adapt. In 2021, Vietnam spectacularly overcame the pandemic and achieved many remarkable economic achievements. However, in 2022, the economy began to decelerate after the war between Russia and Ukraine broke out.
In the second half of 2022, Vietnam's economy has experienced countless challenges in the context of world geopolitics with many uncertainties. These challenges not only measure the effectiveness of business models and corporate governance, but also test the will and strength of many business leaders.
Conducted annually by Nhip Cau Dau Tu Magazine and Thien Viet Securities for 12 consecutive years (2010-2023), with consultation from leading economic and business experts from Harvard Business School, TOP50 has become one of the most prestigious awards in the Vietnamese stock market. The TOP50 is implemented on the basis of measuring business results of companies for 3 consecutive years, based on 3 growth indicators: revenue, return on equity (ROE) and stock return. The results aim to objectively evaluate the enterprise's management capacity.
With a flexible corporate governance model and a focus on efficiency, Gemadept has not only overcome challenges from the market over the years, but also set many new milestones in the Vietnamese port operation industry. One example of this is when Gemalink Deep-sea Port was chosen as one of the connecting ports for OOCL Spain, the world's largest super container vessel with a carrying capacity of 24,188 TEU, on its first journey connecting Asia and Europe.
On May 24, 2023, Gemadept officially put Phase 2 of Nam Dinh Vu Port into operation in Hai Phong, and will continue to deploy phase 3 to develop Nam Dinh Vu Port into the largest river port in Northern Vietnam.
With remarkable achievements in production and business activities, Gemadept was honored in the list of TOP 50 best-performing companies in Vietnam 2023. The Organizing Committee recognized that as of March 2023, Gemadept is an enterprise with market capitalization of over USD 670 million, revenue compound annual growth rate (SR-CAGR) of 14%, average return on equity (ROE) of 9.0%, and stock return of 114%.
To achieve these results, Gemadept has implemented many synchronous solutions, including: technological innovation, improving competitiveness advantages, expanding markets, etc. At the same time, Gemadept also receives the trust and companionship of customers, partners, and investors.
