After more than three decades of accompanying the country, Gemadept has supported the Vietnamese business community to overcome many economic crises, from global financial market fluctuations to the COVID-19 pandemic. Throughout this journey, Gemadept has constantly strived to adapt and develop, with risk management as one of its key management tools, contributing to the Company's steadfast and sustainable development.
Recognizing the importance of identifying and managing risks, Gemadept's Board of Directors has established a solid Risk Management System comprised of three independent, mutually reinforcing lines of defense:
- The first line: Production and business units directly identify and control risks when they arise.
- The second line: The Company, through its functional departments, establishes regulations, and policies, and monitors compliance.
- The third line: Internal and operational audit programs focus on significant risks.
In addition, Gemadept actively listens to the opinions of relevant parties, such as customers, partners, shareholders, investors, authorities, and reputable industry organizations, to make careful decisions.
In the turbulent year of 2023, Gemadept's solid risk management system enabled the Company to proactively face many challenges. The Company continuously updates market information, evaluates impacts, and adjusts its risk portfolio according to the actual situation. By monitoring production and business plans, controlling costs, and implementing audit programs, Gemadept detects, prevents, and promptly handles potential risks. Furthermore, the Company applies modern management tools such as SWOT analysis, quantitative and qualitative risk assessment, and scenario building to respond to situations.
2024, the final year of the 5-year plan, has been designated by Gemadept's Board of Directors as the year of acceleration and breakthrough. The Company will maintain its focus on key risk management tasks by developing risk control plans and enhancing communication and awareness of risk management practices. Gemadept views risk management as an essential component of effective executive management, helping the Company achieve its goals of long-term, sustainable development, and ensuring benefits for investors and shareholders.
