During times of a rapidly changing and unpredictable market since 2019 until now, Gemadept has chosen strategic thinking according to the balanced scorecard model for effective management to ensure strategy implementation and achieving the 2025 vision.
Gemadept’s guiding principle throughout the Company's operation is "Companionship and Development", contributing to constantly sustainably increasing value for the Company and all its stakeholders including employees, customers, partners, shareholders, investors, and community.
The Balanced Scorecard-KPI (BSC-KPI) Method is suitable with Gemadept's core values towards the goal of sustainable development and has been successfully applied in many leading businesses, proving its feasibility and effectiveness. results of the method. By applying this approach, Gemadept is committed to continuously improving operational efficiency and increasing value for stakeholders.
Adhering to its defined strategy, Gemadept is implementing many measures to establish a solid foundation for sustainable development. This is being done through a focus on building a corporate culture with six core values: National Pride – Pioneering Spirit – Responsibility – Integrity – Innovation – Connection and nine cultural principles that embody the Gemadept spirit: Pioneer Gene – Doing the Best – Take Responsibility – Strive for Better – Always have Integrity – Trust and Utilize – Be the Main Player – Overcome Challenges – Make Your Own Choice.
Recently, Gemadept has organized numerous mindset training courses for managers, creating a solid foundation for development-oriented. At the same time, Gemadept has built a 5-year long-term vision and strategy plan with specific goals and indicators, focusing on forming and promoting sustainable competitive advantage by combining goals and objectives from financial and non-financial procedures of the BSC-KPI method.
>>>The 2024 Annual Report and 2024 Sustainable Development Report can be accessed here
Aside of the Financial scorecard with business targets, the Customer scorecard focuses on increasing the level of engagement of customers, partners, shareholders, investors and the community; The Process scorecard aims to optimize management and operation systems and utilize digitalization, ensuring information security; The Learning & Development scorecard aims to develop succession teams, improving human resource efficiency and build a healthy corporate culture.
In terms of process management, in the past year, nearly 100 procedures in all departments and units of Gemadept were checked for strict compliance, minimizing errors. The Company has also reviewed its digitalization strategy, aiming at efficiency and optimization of the existing IT system, prioritising on information and data security.
Emphasizing the importance of human resource development, in 2023, succession development becomes a mandatory KPI for all managers. Over 90% of managers have completed this KPI, contributing to improving the quality of Gemadept's successor team.
To formulate a long-term strategy, Gemadept has established annual short-term goals linked to the market situation but still ensures a long-term vision. Simultaneously, the Company implements many strategic projects (KSI) to build and develop the necessary resources to actualize its long-term vision.
Efforts in building the strategic foundation and corporate culture have brought the Company remarkable results. 2023 was a year with many challenges, but Gemadept's consolidated revenue reached nearly VND 3,846 billion, consolidated profit after tax was VND 2,533 billion, and market capitalization on December 31, 2023 was VND 21,566 billion. Furthermore, the Company's customer and partner network had also expanded significantly. These achievements have contributed to enhancing Gemadept's position and competitiveness in the market.
Regarding long-term results, the Company is gradually actualizing its strategic vision. Key projects being implemented such as Nam Dinh Vu Port Phase 3, Gemalink Deep-sea Port Phase 2, Ha Nam Canal dredging project… promise to solidify Gemadept's leading position in the port operation sector and open up many new growth opportunities in the future.
In addition, positive contributions to society through ESG activities, such as green ports, green energy, and the "Seed for Sea" afforestation initiative, are tasks that the Company focuses on to bring practical benefits to businesses and the community.
On the journey towards a Greener, More Sustainable future, continuing to implement its Mission and Vision, Gemadept needs long-term support from its customers, partners, shareholders and investors, as well as the support of relevant agencies. This trust and companionship is an extremely important source of motivation for Gemadept to continue to develop strongly, enhance its position, and create sustainable values for all parties, contributing to building the country.
