Essays /

1410163332 16 B6 F2737 D5 C115 Db0 Cb6 E23 C3 A6 Cba7 Fc3 E1 B182 Ac5078 C65 Bd1 Efda9 Fa6870 Essay

Essay preview

SUSTAINABLE
DEVELOPMENT
REPORT
2013

2

3

CONTENTS

SUSTAINABLE DEVELOPMENT REPORT

2013

CHAIRWOMAN’S MESSAGE

04
06

SUSTAINABLE DEVELOPMENT
CONSOLIDATION OF CORPORATE GOVERNANCE
»» Structure and members of the Board of Management
»» Sustainable development issues
»» Mechanism of receiving recommendations from stakeholders »» Vision, Mission, Core Values - Code of Conduct
»» Titles achieved in the report period

20

32

INFORMATION ABOUT THE 2013 REPORT
»» Overview Sustainable Development Report
»» Scope of the report
»» Method to determine the report contents
»» Applied standards
»» Contact information for report

34

COMMITMENT TO THE STAKEHOLDERS
REPORT CONTENTS

36
38

PRODUCTS RESPONSIBILITY
ENVIRONMENT AND ENERGY

48
64

WORKING ENVIRONMENT
ECONOMIC DEVELOPMENT

76
80

COMMUNITY SUPPORT AND DEVELOPMENT
REFERENCE TABLE OF REPORT CONTENT AND GLOBAL REPORTING
INITIATIVE (GRI) GUIDELINES

89
98
VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

CORPORATE PROFILE
Corporate history
Highlights on business areas, products and market
Scale index of Vinamilk
Organization structure and operation units
Organization chart

»»
»»
»»
»»
»»

CONTACTS

SUSTAINABLE
DEVELOPMENT REPORT

4

5

CHAIRWOMAN’S MESSAGE
Dear all,
During 2013, all organizations had to face many
challenges and problems of the society such as
economic recession, environmental pollution,
contaminated and intoxicated products, false
information from social networking sites, etc. In
order to overcome these challenges, there is no way
better than that each organization should define its
development strategies and take specific actions in
business operations, aiming towards the objectives
of sustainable development, and demonstrating
responsibilities to the society.
In such a context, Vinamilk continued maintaining its
stable growth and development. This proves that we
have had the right steps on the path of sustainable
development. The outcome we gained is the result
of closely and throughout link in strategies and
actions, including the orientation of the Company’s
leadership, the commitment and non-stopping efforts
of each employee, the credibility of shareholders on
the Company’s development strategy, the consumer’s
trust, and the cooperation and sharing to jointly
develop from customers, suppliers and partners.

Sustainable development of a society
is the convergence of the sustainable
development of each member of that
society. To releasing this sustainable
development, it should be jointly
done by all of us.

VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

In 2013, Vinamilk developed specific plans to increase
its inner strength and bring more values to the
stakeholders. Improving the governance quality,
developing a strong team, consolidating the supply
chain, increasing product benefits, implementing
environmental protection solutions – using energy
efficiently, and positively implementing social activities
are the key action programs that Vinamilk has been
doing on the path of sustainable development.

Inheriting and promoting the contents presented in
the 2012 report, Sustainable Development Report 2013
will include outstanding performance through the
contents: Responsibility to products – Environment
& Energy – Working environment – Economic
development and social activities.
Together with the Annual Report 2013, we all expect that
the Sustainable Development Report 2013 will bring
to the shareholders, consumers, customers, partners,
employees, and communities a comprehensive
overview on orientation and performance of Vinamilk.
Many thanks to you for your confidence and being a
companion with Vinamilk during the last time. I believe
that with the right orientation, commitment, effort,
and collaboration among the parties will bring steady
steps for all of us in the future.
Thanks & Regards,

On behalf of the Board of Management

MAI KIỀU LIÊN
Chairman and Chief Executive Officer

CORPORATE PROFILE
Vietnam Dairy Products Joint Stock Company
(Vinamilk) was founded in 1976 under the name
of Southern Coffee-Dairy Company, a subsidiary
of the Food General Directorate. Over periods of
development, in 2003, Company became a joint
stock company with the official name “Vietnam
Dairy Products Joint Stock Company”. In 2006,
Vinamilk officially was listed on Ho Chi Minh City
Stock Exchange. Currently, Vinamilk is one of the
largest-scale public companies in Vietnam.

8

9

CORPORATE HISTORY
1976

1978

1989

1991

1992

1994

Our Company was
founded under the name
of Southern Coffee-Dairy
Company, a subsidiary of
the Food General
Directorate and had two
factories in operation,
namely Thong Nhat Dairy
Factory and Truong Tho
Dairy Factory.

The Company had more
factories: Bich Chi Powder
Factory, Lubico Cake
Factory and Bien Hoa
Coffee Factory.
The Company was
transferred to the Ministry
of Food Industry and the
Company was renamed
United Enterprises of Milk
Coffee Cookies and
Candies I.

Dielac Powdered Milk
Factory came into
operation and introduced
its first batch of products
to the market in Vietnam.

The “white revolution”
started the development
of fresh milk. The first
time we launched UHT
milk products and
yoghurt to the Vietnam
market.

The United Enterprises of
Milk Coffee Cookies and
Candies I was formally
renamed Vietnam Dairy
Company and came
under
the
direct
management of the
Ministry of Light Industry.

In the expansion plan to
meet the market demand in
the North, the Company
built the Hanoi Dairy
Factory.
On October 7th 1994, the
sales office was opened and
responsible for sales
activities in the north
provinces.

1996

1998

2001

2003

Binh Dinh Dairy Joint Venture
Enterprise was founded as the
result of our joint venture with
Dong Lanh Quy Nhon Joint
Stock Company. Ha Noi Dairy
Factory came into operation.
In May 1996, Da Nang sales
office was opened and
responsible for sales
activities in the central
provinces.

Can Tho sales office was
opened in order to develop
sales activities in the Mekong
delta provinces.

Can Tho Dairy Factory was
inaugurated and put into
operation in the Mekong
Delta.

The Company was formally
transformed into a joint stock
company in November 2003
and renamed as Vietnam
Dairy Products Joint Stock
Co., to reflect its change in
legal status.

2004

2005

2006

2007

2008

2009

2010

2012

2013

Acquired Saigon Milk Joint Stock
Company and increased share
capital of the Company to VND
1,590 billion.

Bought our joint venture
partner’s remaining equity in
Binh Dinh Dairy Products
Company Ltd (which was
then known as Binh Dinh
Dairy
Factory)
and
inaugurated Nghe An Dairy
Factory on 30 June 2005.

Vinamilk was listed on
Hochiminh City Stock
Exchange (HOSE) on 19
January 2006.
In June, An Khang Clinic was
opened in Ho Chi Minh City.
The clinic provides nutrition
advices, paediatrics, and
general health checks for all
functions. It is the first clinic
in Vietnam to be managed
information by electronics.
In November, we started our
cow farm development by
buying Tuyen Quang cow
farm with 1,400 heads. The
farm was put into operation
afterwards.

In September 2007, the
Company
acquired
a
controlling stake of 55% in
Lam Son Milk Company Ltd.,
located in Le Mon Industrial
Zone, Thanh Hoa province and
changed its name into Lam
Son Milk Joint Stock
Company.

Tien Son Dairy Factory
was inaugurated and put
into operation in Hanoi.

In September, the cow
farm in Nghe An was
opened. This is the most
modern farm in Vietnam
with its designed size of
3,000 cows.

The Company started its
strategy of investment
overseas by contributing
nearly USD10 million
(equivalent to 19.2% of
the project’s share
capital) in a powdered
milk project in New
Zealand.

In June 2012, Da Nang
dairy factory was opened
and put into commercial
operation.

On October 21st 2013,
Thong Nhat Thanh Hoa
Dairy Cow Co., Ltd. was
granted
business
registration certificate by
the Department of
Planning and Investment
of Thanh Hoa Province.
Vinamilk holds 96.33% of
share capital and becomes
the parent company of this
entity.
On December 6th 2013, the
Company was granted the
investment certificate no.
663/BKHĐT-ĐTRNN by the
Ministry of Planning and
Investment regarding the
acquisition of a controlling
stake (70%) of Driftwood
Dairy Holding Corporation,
California, USA.

VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

Acquired 100% shares from F&N Vietnam Limited and
changed its name to Dielac Dairy One Member Co., Ltd. This
is 100% new and the second powdered milk factory of
Vinamilk.
Acquired the remaining shares of Lam Son Milk Joint
Stock Company and changed its name to Lam Son Dairy
One Member Co., Ltd.
Inaugurated and put the Beverage Factory into operation
in Binh Duong.
Vinamilk was honoured by Forbes Asia for its “Top 200
Best Under A Million” in Asia 2012. This was the first and unique a Vietnamese company was honoured in the list
SUSTAINABLE
of Forbes Asia.
DEVELOPMENT REPORT

10

11

INFORMATION ABOUT
BUSINESS AREAS, PRODUCTS AND MARKET

224,000
MORE THAN

RETAIL OUTLETS ACROSS THE COUNTRY

266
DISTRIBUTORS

PRINCIPAL BUSINESS ACTIVITIES
66 Producing, trading milk and dairy products.
66 Producing and trading beverage.

DISTRIBUTION NETWORK AND CUSTOMERS
»» In Vietnam market:

66 Breeding dairy cows, producing fresh milk material (in 100% capital owned companies).

Vinamilk is one of the companies having a strong distribution network across the country, and therefore, the consumers can access the Company’s products easily and quickly in the best conditions.

MAIN PRODUCTS

Vinamilk products come to customers through the system of distribution partners and direct distribution channel of Vinamilk:
66 Distribution partner system (General Trade Channel – GT): By the end of 2013, Vinamilk had totally 266 distributors (2012: 250 distributors) and about 224,000 retail outlets (2012: 196,000 retail outlets). 66 Nationwide chain of supermarkets (Modern Trade Channel - MT): Vinamilk is directly dealing with over 600 supermarkets across the country.

66 Vinamilk showrooms: Vinamilk has set up a showroom system in charge of introducing and selling Vinamilk’s product, including 60 showrooms across the country. 66 Direct distribution to factories, schools, and entertainment sites (KA Channel).

66 Powdered milk and nutrition powder: Dielac, Ridielac.
66 Condensed milk: Longevity Milk, Southern Star.
66 Liquid milk: Vinamilk 100% Flex, ADM.
66 Yoghurt, ice-cream, cheese: Vinamilk yoghurt – ice-cream – cheese; Susu, Probi, and ProBeauty yoghurt . 66 Soy milk and beverage: GoldSoy soy milk, Vfresh, Icy.

MAIN MARKET
66 Vinamilk products mainly serve Vietnam market with all lines of product. Domestic market takes account of

80% of Vinamilk’s total revenue.
66 For foreign market, the main markets of Vinamilk are Middle-East area, South-East Asia, and Africa. Main exported products are powdered milk and condensed milk. In 2013, export revenue made up 14% Vinamilk’s total revenue.

VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

»» In foreign market: Vinamilk’s customers are distributors.

SUSTAINABLE
DEVELOPMENT REPORT

12

13

SCALE INDEX OF VINAMILK
Over periods of development, Vinamilk is one of the largest-scale public companies in Vietnam at present.
Share capital structure of Vinamilk at the end of 2013
is as follows:

SCALE INDEX ON BUSINESS RESULT
Revenue (VND billion)
22,071

27,102

Profit after tax (VND billion)

31,586

4,218

5,819

6,534

Earnings per share (VND)
5,145

6,981

7,839

6%

45%

49%

Local shareholders (except for SCIC)
State capital
Overseas shareholders
2011

2012

2013

2011

2012

% revenue increase
40%

2013

2011

2012

2013

»» Organizations: holding 94.5% of share capital.
»» Individuals: holding 5.5% of share capital.

% profit after tax increase
37.9%

37.25%

At present, Vinamilk has nearly 11,000 shareholders,
in which:

SCALE OF EMPLOYEES:
Year

Total number
of permanent employees (*)

2011

4,564

2012

4,853

2013

5,570

(*) This number includes the employees of
Vinamilk and of two subsidiaries, i.e. Lam Son Dairy
One-member Co., Ltd. and Vietnam Dairy Cow
One-member Co., Ltd. and exclude the employees
of subsidiaries that were established at the end
of 2013, i.e. Thong Nhat Thanh Hoa Dairy Cow
One-member Co., Ltd., Driftwood Dairy Holding
Corporation and Angkor Dairy Products. Besides,
the number of employees of International Real
Estate One Member Co., Ltd. did not increase.

40%

30%

22.7%

20%

30%
16.5%

10%

10%

0%

0%

2011

2012

16.64%

20%

2013

2011

5,570

12.3%

2012

TOTAL NUMBER OF
EMPLOYEES IN 2013

2013

OPERATION SCALE INDEX
Share capital (VND billion)
8,339

Total assets (VND billion)
19,698

8,339

Owner’s equity (VND billion)

22,875

17,545

15,583

15,493

5,561

2011

12,477

2012

2013

VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

2011

2012

2013

2011

2012

2013

SUSTAINABLE
DEVELOPMENT REPORT

14

15

ORGANIZATION STRUCTURE AND OPERATING UNITS
HA NOI

STRUCTURE OF VINAMILK INCLUDES:

03

Sales offices in Ha Noi, Da Nang,
and Can Tho.
Head office at 10 Tan Trao,
Tan Phu Ward, District 7, HCMC.

02

Hoang Sa
islands

Logistics enterprises in Ha Noi
and HCMC.

12

Factories in operation.

The number of
factories in commercial
operation increased by 2
factories compared to 2012
since Vinamilk officially put
2 high-capacity factories,
i.e. Vietnam Dairy Factory
and Vietnam Powdered Milk
Factory, into operations.

VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

Besides 12 factories under the parent
company, Vinamilk has one factory in
operation under its subsidiary (Lam Son
Dairy Factory belonging to Lam Son
Milk Factory Co., Ltd.).

01

Health care clinic in HCMC

HO CHI MINH CITY

Truong Sa
islands

SUSTAINABLE
DEVELOPMENT REPORT

16

17

SUBSIDIARIES & ASSOCIATES
In 2013, Vinamilk promoted its operations to expand
market in foreign countries. By the end of 2013 and
in the early of 2014, Vinamilk had 2 more subsidiaries
operating in milk production:
»»

Angkor Dairy Products Co., Ltd: This company
is newly established in Cambodia in a form of
joint venture company between Vinamilk and
distribution partner in Cambodia – B.P.C Trading
Company Limited. The joint venture company has
share capital of USD20.010.000, in which, Vinamilk
contributed 51% and Cambodia partner 49%. The
goal of this company is to build dairy factory to
serve Cambodian market. Currently, the factory
construction project is being implemented and
is expected to come into operation by the end
of 2015.

»»

Driftwood Dairy Holding Corporation: is a dairy
production company based in California and has
a long tradition. By the end of 2013, Vinamilk had
completed the acquisition of 70% of Driftwood’s
capital to expand market in the U.S.

In addition, aiming to continue strategy of dairy
cow development, Vinamilk cooperated with Thong
Nhat Thanh Hoa One-member Co., Ltd. to establish
Thong Nhat Thanh Hoa Dairy Cow Two-member Co.,
Ltd. with share capital of VND600 billion, in which,
Vinamilk contributed 96.33% and Vinamilk and Thong
Nhat Thanh Hoa One-member Co., Ltd. contributed
3.67%. Main business operation of the company is to
be a center for breeding dairy cows with high-quality
technique and technology and developing dairy cows.

By the end of 2013, Vinamilk had 6 subsidiaries and 2 associates:

No.

Company name

Main business operations

Share capital
(VND billion)

Owned by
Vinamilk
(%)

Subsidiaries
Vietnam Dairy Cow
One-member Co., Ltd.

Lam Son Dairy
One-member Co., Ltd.

International Real Estate
One-member Co., Ltd.

100%

100

%

100%

70%

19,3

%

15%

Driftwood Dairy Holding
Corporation

Miraka Limited

Asia Saigon Food
Ingredients JSC (AFI)

1

Vietnam Dairy Cow One-member
Co., Ltd.

Breeding dairy cows and
producing fresh milk material

840

100%

2

Lam Son Dairy One-member
Co., Ltd.

Producing and trading dairy
products

80

100%

3

International Real Estate
Co., Ltd.

Trading real estate

160

100%

4

Thong Nhat Thanh Hoa Dairy Cow
Two-member Co., Ltd.

Breeding dairy cows and
producing fresh milk material

600

96.33%

5

Angkor Dairy Products Co., Ltd.

Producing and trading dairy
products

USD20.01 million

51%

6

Driftwood Dairy Holding
Corporation

Producing and trading dairy
products

USD7 million

70%

120

15%

NZD55 million

19.3%

Associates (*)
Thong Nhat Thanh Hoa
Dairy Cow Co., Ltd.

96,33%

51%

Angkor Dairy Products
Co., Ltd.

1

Asia Saigon Food Ingredients JSC
(AFI)

Producing cream powder
used for food

2

Miraka Limited

Producing and trading dairy
products

(*) Based on the presence of Vinamilk’s representative in Board of Management of associates.

VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

SUSTAINABLE
DEVELOPMENT REPORT

18

19

ORGANIZATION STRUCTURE

In 2013, Vinamilk continued
stabilizing
organization
operation
structure in order to optimize operation
efficiency. During the year, the Company
established two new departments, i.e.
Strategic Planning Dept. and Foreign
Investment Management Dept.

SHAREHOLDERS MEETING

BOARD OF MANAGEMENT

CHIEF EXECUTIVE OFFICER

INSPECTION COMMITTEE

INTERNAL CONTROL AND RISK
MANAGEMENT DIRECTOR

STRATEGIC
PLANNING
DIRECTOR

FOREIGN
BRANCH
DIRECTOR

VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

INFORMATION
TECHNOLOGY
(IT) DIRECTOR

EXECUTIVE
DIRECTOR RAW
MATERIAL
DEVELOPMENT

INTERNAL AUDIT
DIRECTOR

EXECUTIVE
DIRECTOR
PRODUCTION
AND R&D

EXECUTIVE
DIRECTOR
SUPPLY CHAIN

EXECUTIVE
DIRECTOR
FINANCE

EXECUTIVE
DIRECTOR
PROJECT

EXECUTIVE
DIRECTOR
MARKETING

EXECUTIVE
DIRECTOR SALES

EXECUTIVE
DIRECTOR HR.
ADMIN & PUBLIC
RELATION

SUSTAINABLE
DEVELOPMENT REPORT

SUSTAINABLE DEVELOPMENT

CONSOLIDATION OF
CORPORATE GOVERNANCE
In 2013, Vinamilk had many activities to continuously
improve corporate governance system so as to enhance
capacity for sustainable development and bring more
values to shareholders, consumers, and other stakeholders.
The activities are widely deployed in many areas such as
expanding and reconstructing the Board of Management,
reviewing Vision - Mission in the new era, improving the
Company’s operation structure, and building control systems and risk management for the Company.

• Structure and member of the Board of Management
• Activities of sustainable development
• Mechanism of receiving opinions from stakeholders
• Vision, Mission, Core values – Code of Conduct
• Titles achieved in the report period

22

23

BOARD OF MANAGEMENT
STRUCTURE AND MEMBERS
NUMBER AND STRUCTURE OF MEMBERS

BOARD’S COMMITTEES

In 2013, the Board of Management was added 2 independent members. As at December 31st 2013, the Board consists of 07 members, including 01 chairwoman and 06 members. The Company’s Chairman is female.

Along with the appointment of Board’s members, the Board’s committees also have been reorganized to improve corporate governance efficiency and develop operation strategies.

Number of members

2012

2013

5

7

No.

Gender classification
»» Female members

2

3

»» Male members

3

4

»» Executive members (*)

2

2

»» Independent members

0

2

Executive/Independent

(*) The Board members undertakes executive
positions as Chief Executive Officer and Executive
Director Finance. Ms. Mai Kieu Lien holds the
position of Chairwoman and also Chief Executive
Officer of Vinamilk. This concurrence is approved
by the Shareholders’ Meeting annually.

The appointment of two independent members aims to perfect the Board’s governance structure, strengthen the independence and transparency in corporate governance and, at the same time, to meet the legal requirements for a public joint stock company.

1

2

3

4

Committee

Main functions

Strategy and
Development
Committee

Determine and orient development
strategies, objectives and plans.
Establish long-term management
and development orientations for the
Company.

Risk Management
Committee

Orient and develop risk management
activities in the level of BOM. Instruct
and supervise activities of the Risk
Management Council to ensure a
strong and effective risk management
system for the Company.

Nomination
Committee

Manage personnel issues concerning
members of the BOM and the executive
apparatus: initiate and assess scale and
component of the BOM; recommend
appointment, dismissal of BOM’s
members, Chief Executive Officer, and
senior managers; build up human
resources development plan.

Allowance
Committee

Establish policies on salary, reward,
allowance and other benefits for
members of the BOM and the
executive apparatus; Counsel CEO in
building policies about salary, reward,
and income of the company.

Number of
members

Changes
compared to 2012

4

Appointment
of independent
member of
the Board of
Management into
the committee.

4

This is a newly
constructed
committee in order
to push the risk
management and
risk supervision in
the level of BOM.

3

Change in Chief
of Committee.
The independent
member of the
BOM holds this
position.

3

Change in Chief
of Committee.
The independent
member of the
BOM holds this
position.

(*) Comparing to 2012, in 2013, Audit Committee was deleted since the audit work was assigned for the Inspection Committee and the Internal Audit Department.

VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

SUSTAINABLE
DEVELOPMENT REPORT

24

25

BOARD OF MANAGEMENT STRUCTURE AND MEMBERS (cont.)

STRATEGY AND DEVELOPMENT COMMITTEE

Mr. LE SONG LAI

Chief of the Committee

Ms. MAI KIEU LIEN
Member

Ms. NGO THI THU TRANG
Member

NOMINATION COMMITTEE

Ms. LE THI BANG TAM
Member

RISK MANAGEMENT COMMITTEE

Mr. LE ANH MINH

Chief of the Committee

VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

Mr. NG JUI SIA
Member

Mr. HA VAN THAM

Chief of the Committee

Ms. MAI KIEU LIEN
Member

Mr. LE SONG LAI
Member

ALLOWANCE COMMITTEE

Mr. HA VAN THAM
Member

Ms. NGO THI THU TRANG
Member

Ms. LE THI BANG TAM
Chief of the Committee

Mr. NG JUI SIA
Member

Mr. LE ANH MINH
Member

SUSTAINABLE
DEVELOPMENT REPORT

26

27

SUSTAINABLE
DEVELOPMENT ISSUES
Continuing the background from 2013, Vinamilk
continue pursuing our avidities/programs related
to sustainable development, including:
»»

Continue pursuing and implementing
programs about use of clean energy and
energy savings.

»»

Continue implementing activities to improve
working environment.

»»

Attend in seminars about corporate
governance and sustainable development
organized by ACGA – Asian Corporate
Governance Association to get experience in
practice and concerns of stakeholders about
there matters.

THE MECHANISM
OF RECEIVING
RECOMENDATIONS
FROM STAKEHOLDERS
TO SHAREHOLDERS

TO CUSTOMERS AND CONSUMERS

TO EMPLOYEES

Shareholders are an important related party of the
Company. The relationship between Vinamilk and
shareholders is being paid special attention. Vinamilk
has established an Investor Relation Department
to be responsible for establishing and maintaining
the relations as well as receiving opinions and
recommendations from shareholders. Besides, this is
an information channel to contact potential investors.
This is an important communication channel to enable
Vinamilk to approach to the expectations and concerns
from stakeholders for the Company. Vinamilk’s investor
relations function is very flexible and to create the
most favourable conditions for the investors to get
update on the Company’s operations through:

Vinamilk maintained a relation and discussion with
the customers periodically or regularly. According
to Vinamilk’s regulations, at least once a year, the
Company will survey opinions and gratification
of customers. The customers can also contact the
Company at any time via hot line or Vinamilk’s website.

The information channels between Vinamilk and
its employees take various forms. Employees can
contribute their opinions to the Company periodically
or regularly by:
»» Proposing their opinions and recommendations
every six months within the consideration period
of the managers
»» Giving opinions in employee surveys (at least
once a year)
»» Sending their opinions directly to the company’s
email address: [email protected]

»»
»»
»»
»»
»»

»»

Attending the Annual General Meeting of Shareholders
Visiting our head office directly.
Investor relation personnel can discuss with
investors through telephone, teleconference
Responding to investors’ queries via email
Responding to investors’ queries through Q&A
on our website at
http://www.vinamilk.com.vn/?vnm=FAQ
Investor relation personnel can attend investment
seminars organized by securities companies,
institutional funds.

To consumers, Vinamilk frequently receives opinions
from consumers through responding to queries via
hot line, directly meeting and dealing with complaints
from customers.

Besides, in delicate cases or if the employee wants
to keep his information confidential, he can contact
the Compliance Department by email ([email protected]
vinamilk.com.vn) or by phone calls. This Department is
directly under CEO.

In 2013, Vinamilk over 256 investors to visit our
head office and factories in order to study and seek
opportunities to invest in Vinamilk. Vinamilk also met
over 58 big and prestigious institutional investors
in the region and the world in the seminars that the
Company attended.
All opinions and recommendations from shareholders
will be consolidated, analysed and reported to the
Chief Executive Officer. The Chief Executive Officer will
consider and propose the BOM the contents under its
jurisdiction.

VIETNAM DAIRY PRODUCTS
JOINT STOCK COMPANY

SUSTAINABLE
DEVELOPMENT REPORT

28

29

VISION, MISSION
CORE VALUES – CODE OF CONDUCT
Together with the Company’s development, the BOM has reviewed long-term development orientation, vision and mission of the Company in the new era. Accordingly, vision and mission of the Company have been oriented as follows:

» Expanding operation scope of the Company comparably the world class. » Affirming the Company’s responsib...

Read more

Keywords

+178 +64 +84 -0.7 -1 -11 -13 -1390 -17.2 -18 -186 -188 -19 -2 -2.3 -2013 -2014 -2015 -2016 -23 -25 -27 -29 -3 -35 -38.63 -4 -44 -5 -53 -55 -6 -61 -63 -63.9 -71 -73 -75 -79 -8 -87 -9 -9.85 -95 -9591 /1 /?vnm=faq /?vnm=faq) /ton 0 0.01 0.04 0.05 0.08 0.12 0.2 0.21 0.3 0.31 0.37 0.43 0.47 0.5 0.98 000 000l 005 0075 008 009 01 012 015 019 02 020 021 03 037 04 046 048 050 0511 055 06 061 065 066 068 0694 07 071 075 080 086 09/2009 092 096 097 1 1.1 1.2 1.22 1.43 1.45 1.5 1.6 1.74 1.8 10 10.5 10.8 10/13 10/national 100 1000 101 102 107 10724 108 109 109.98 11 11.27 11.4 11.7 11/13 110 111 112 113.18 118 118.06 118.51 12 12.3 12/13 120 124 125 12th 13 13.49 13/13 132 132.61 134.57 135 135.62 136 139 13th 14 14.37 140 1400 14001 141.54 1410163332 143 144 145 146 15 15.96 150 152 153 155 158 159.61 15th 16 16.03 16.07 16.2 16.5 16.64 16.7 160 161 161.04 162 163 17 17.22 170 17025 171 172 174.8 175 176 18 18.5 181 183 184 185 186 19 19.2 19.22 19.3 19.43 19.45 19.56 19.75 196 1976 1978 198 1989 199 199.45 1990 1991 1992 1994 1996 1998 1st 2 2.1 2.10 2.16 2.2 2.3 2.4 2.5 2.6 2.7 2.8 2.82 2.9 2.92 20 20.2 20.8 200 2001 2003 2004 2005 2006 2007 2008 2009 201 2010 2011 2011/2010 2012 2012/2011 2013 2013/2012 2014 2015 2017 209 20th 21 21.21 210 218 21st 22 22.10 22.7 222 223 224 226 227 228 229 23 23.9 230 231 234 235 239 24 24/24 240 241 244 245 246 248 25 25.6 25.7 250 251 253 255 256 257 258 259 26 26.5 26.7 26.98 263 266 268 269 27 2708 273 274 275 276 2785 28 28.7 280 283 284.7 285 286 29 29.8 290 2nd 3 3.1 3.10 3.11 3.12 3.13 3.2 3.28 3.3 3.4 3.5 3.6 3.67 3.7 3.71 3.8 3.83 3.9 30 30.8 300 303 304/316 307 31 31.0 310 316 318 31st 32 32.94 322 324 327 33 334 3351 339 34 35 35.1 35.6 350 353 354 357 359 36 36.01 36.4 367 37 37.25 37.9 372 376 377 3799 38 380 387 39 3930 396 4 4.1 4.10 4.11 4.12 4.13 4.14 4.15 4.16 4.17 4.2 4.21 4.3 4.4 4.5 4.51 4.56 4.59 4.6 4.7 4.724 4.8 4.9 4/5 40 40.63 400 41 41.2 413 419 42 42.2 42.8 427 429 43 433 438 44 44.33 440 442 444 445.2 448 45 45.15 452 457 46 46.42 460 466 469 47 47.5 47.9 471 475 477 48 484 489 49 49.8 493 5 5.01 5.2 5.25 5.5 5.96 50 500 50001 504 505 51 510 511 514 515 516 52 52.70 520 521 525 526 527 528 53 53.4 53.7 531 534 54 540 541 545 55 552 555 556 558 559 56 56.23 56/56 561 562 564 565 566 568 57 57.63 570 58 583 584 586 59 590 599 6 6.00 6.3 6.4 6.5 6.6 6.68 6.7 6.9 60 60.75 600 605 608 61 614 618 62 625 626 628 63 631 64 645 65 650 652 66 662 663/bkh 67 671 673 675 68 680 689 69 698 6th 7 7.2 7.5 7.61 7.71 7.8 70 700 703 706 71 710 711 712 714 717 72 720 73 73.5 731 737 739 74 74.3 74.4 740 741 746 748 749 75 751 753 757 75kg 76 762 768 77 771 774 775 777 78 782 789 79 790 794 797 7th 8 8.2 8.4 8.82 80 800 804 809 81 81.74 81.79 813 814 818 819 82 824 827 829 83 83.20 834 835 836 839 84 840 842 848 849 85 850 852 853 86 864 86d 87 87.52 871 875 879 88 882 884 89 890 891 894 897 8th 9 9.07 90 90.11 9001 901 908 91 911 912 91731 92 92.80 923 925 93 93.28 93.36 934 94 94.5 944 948 95 95.03 95.09 950 96 96.33 96.94 960 964 965 966 97 98 981 983 988 991 992 994 998 9e a-million a6 abandon abdomin abid abil abolit absente absolut absorb ac5078 accept access accid accident-rel accidentrel accompani accomplish accord account accredit accumul acga ach achiev acknowledg acquir acquisit across act action activ actual ad adapt addit address adequ adher adjac adjust adm admin administr adopt advanc advers advertis advic advis advocaci aerob affair affect affirm afford afi africa afterward age agent agre agreement agricultur aid aim air alarm align allergen allow almond almost along alpha also aluminium/stainless alway america among amount anaerob anaesthet analys analysi analyz and/or angkor anh anim annex anniversari annual anox anphabe.com anti anti-competit anti-corrupt anti-inflammatori anti-trust antibiot apparatus appli applic appoint appraisalpa approach appropri approv april aquat arbitrari area asia asian asid aspect assert assess asset assign assist associ assumpt assur attend attent attract audit author autom avail avenu averag avidities/programs avoid aw awar award azusa b b.p.c b182 b6 ba bac background bagass ban bang baobab bargain base basel basi basic batch bd1 beauti becam becom began behalf behaviour believ belong belov ben benefici benefit besid best best-lov best-qual better beverag beyond bi bich bid bien biennial big bigger biggest billion binh bio bio-lak biodivers bioga biolog biomass bloat block blood board bodi boiler bom bond bono bonus bougainvillea bought boundari box branch brand breach breakdown breakthrough breast breast-feed breastfeed breed bridg bring broken brought bruntland btu btui budget build built bureau burn busi buy c c-9e c115 c3 c65 cad cai cake calcium calcul california call cambodia cambodian came campaign campus can candi canteen capabl capac capit care career careerbuilder.vn carri case cat categori caus cb6 cba7 cctv ceas celebr center centr central ceo ceremoni certi certif certifi chain chair chairman chairwoman challeng chanc chang channel characterist charg chariti chart charter chau check check-up chees chemic chemistri chi chief chieu child children china chip choos chosen chronic circul circumst citi class classi classif classifi claus clean cleaner clear climat clinic close cn cng co co2 coach code coffe coffee-dairi collabor colleagu collect colleg comapni combin come commensur comment commerc commerci commiss commit committe commod common communal communic communist communiti compact compani companion compar compens compet competit compil complaint complet compli complianc [email protected] compon composit comprehens compress compris compromis compulsori concern concurr condens condit conduct confid confidenti confirm conflict conform connect conserv consid consider consist consolid construct consult consum consumpt cont contact contain contamin content context continu contract contractor contribut control conveni convent converg cooki cool cooper coordin core corn corpor correct corrupt cost council counsel countri cours cover coverag cow cream creat creativ credibl criteria criterion cu cua cultur cup current custom customers/beneficiaries cycl d d5 da dairi dak damag dang data date day db0 deal dear death decemb decent decis declar deem defin definit degre delet delic deliv delta demand demonstr denounc dental depart deplet deploy deposit depot dept describ descript desicc design desir destin destroy detail determin develop development devic devot dialogu diari dielac differ difficult difficulti digest dinh direct director disabl disast discharg disclos disclosur discrimin discuss diseas disinfect dismiss dispos disput dissemin dissolv distribut distributor district divers diversif diversifi dividend divis dma domest donat done dong dri driftwood drill drink drop du duc due duong dust duti dynam e e-mail e.g e1 e23 earli earlier earn easiest easili east ec ec1 ec2 ec3 ec4 ec5 ec6 ec7 ec8 ec9 econom ed educ efda9 eff effect effici effort either el eld elder electr electron elementari eleph elimin email emerg emiss emit emperor employ employe en en1 en10 en11 en12 en13 en14 en15 en16 en17 en18 en19 en2 en20 en21 en22 en23 en24 en25 en26 en27 en28 en29 en3 en30 en4 en5 en6 en7 en8 en9 enabl encourag end endors energi energy-effici energy-sav engag engin enhanc enough ensur enterpris entertain enthusiast entir entiti entitl entri environ environmen environment enzym equal equip equiti equival era erythrophleum especi essenti establish estat estim etc eth ethic european evalu event everi everyon eviron excel except exchang exclud execut executive/independent exercis exhaust expand expans expect expenditur expens expense/budget experi experienc experiment expertis expir expiri explan exploit export extend extent extern extinct extract f f2737 fa6870 face facil facilit fact factor factori faec fair fall fals famili faq farm farmer farmers.please fat fatal fatherland favour favourit fax fc3 featur februari feder feed feedback femal fertil fi fiber fibr ficat fie field figur file financ financi find fine finit fire first first-aid fiscal/calendar fish fisher fishing-net fix fixed-term flex flexibl flood floor fluctuat fo focus follow food foodstuff forandsalari forb forbidden forc fordii foreign forestri form formal formula fortifi forum found fp10 fp11 fp12 fp13 fp3 fp4 fp5 fp6 fp7 fp8 fp9 free freedom frequenc frequent fresh friend front fruit fuel fulfil full full-tim fulli fume function fund futur g1 gain gas gase gave gea gender general generat genet geograph get gia giang gift give given global go goal goe golden goldsoy gon good govern grade graft grant grasp grass gratif great green greenhous greet gri grievanc ground group grow growth gt guarante guid guidelin ha habitat habitus haccp hai handi handl hanoi harmoni hazard hcmc he/she head head-ach headquart health healthcar healthi heart hectar held help henc hiep high high-capac high-qual highest highlight highway hire histor histori ho hoa hoan hoang hochiminh hoi hold hole holiday homogen honesti hong honor honour hormon hose hospit hot hour hours/employee hous household howev hr hr1 hr10 hr11 hr2 hr3 hr4 hr5 hr6 hr7 hr8 hr9 hue human hung huy hydrocarbon hygien i.e ice ice-cream ici idea ideal ident identif identifi ifc ii iii ill immun impact implement implic import improv in-kind inaugur incid includ incom incorpor increas incur ind indefinit independ index indic indigen indirect individu industri inflammatori influenc influenza inform infrastructur infring ingredi inherit initi injuri inkind inner innov inpati input inspect instal instead institut instruct insur integr intellectu intellig interact interest intern intertwin intoler intox introduc invalid invest investor involv irrig island iso iso/iec issu item iucn januari job join joint jsc jui juli june jurisdict ka keep kept key kg kg/1000l kg/ton khang khanh kid kieu kim kind kiều km know knowledg known known-origin kpis kwh kwh/1000l la la1 la10 la11 la12 la13 la14 la15 la2 la3 la4 la5 la6 la7 la8 la9 label labor laboratori labour lack lactos lactose-fre lai lak lake lam lamp land lang lanh lao larg large-capac large-sc large-scal largest largest-scal last lat launch law law-abid layer le lead leadership learn leas least leav led legal less level librari licens lien life lifelong lifestyl light like limit lincha line line-up lingzhi link linkag liquid liquor list liter litter litters/person/year live liên lo lobbi local locally-bas locat lockout lodestar logist long long-term longev lose loss lost lot love low lower ltd lubico lunar m m3 m3/1000l m3/ton ma machin made mai mail main maintain major make maker male malnourish malnutrit mama manag mani manner manufactur map market mass massproduct master materi matern matter maxim maximum may mbo meal meaning meanwhil measur mechan media medic meet mekong member membership memori men mention merger merit messag met method michelia micro micro-organ mid middl middle-east mileston milk million mindset miner minh minim minimum minist ministri minor minut miraka mission mitig mm mobil modern modifi mon monetari money monitor monopoli mont month monument moreov mother motiv mountain mr ms mt much must mutual n n/a nai nam name nang nation national/international nationwid natur near necessari nectar need negat net network never new newli news ng ngai nghe nghi ngo ngoc nguyen nhat nhon nice ninh no.10 no.80 no.9 nobl noc noi nomin non non-compli non-discrimin non-execut non-fat non-genet non-hazard non-monetari non-preserv non-stop north north-centr notic novemb nox nt [email protected] [email protected] number nurtur nutrient nutrit nutriti nzd55 object oblig observ obtain occas occup octob offer offic offici oil on-go one one-memb open oper opinion opportun optim optimum orange/dioxin order organ organis organiz organolept orient origin orphan orphanag ort outcom outlet outpati output outsid outsourc outstand overal overcom overse oversea overview own owner ownership ozon ozone-deplet pack packag paediatr page paid pak paper paramet parent park part part-tim parti particip particular partner partnership path patient pattern pay payer payment peel penalti peopl per percentag perfect perform period perman persist person personnel petrol phone phong photosynthesi phu phuoc physic phytochem pipe place plan plant plastic play pleas po point polici polit politician pollut poor portfolio posit possibl post postgradu potenti powder power pr pr1comm pr2comm pr3comm pr4 pr5 pr6comm pr7 pr8 pr9 practic precautionari pregnant premium presenc present preserv press pressur prestigi prevent previous price primari primarili princip principl priorit prioriti privaci privat prize pro proactiv probationari probeauti probi problem procedur process procur produc product products/total profession profil profit program programm progress project promot prompt promulg properti proport propos protect proud prove provid providingtruth provinc provis public pupil purchas purpos pursu pursuant push put q qcvn qualif qualifi qualiti quang quarter queri question quick quickest quit quot quy r radic rais raiser rang rank rate ratio raw rd re re-stat reach read real realli reason recal receiv recent recess reclaim recogn recognis recomend recommend reconstruct record recov recoveri recruit recycl red reduc reduct refer referenc reflect regard regardless region regist registr regul regular rehabilit relat relationship releas relev reliabl religion remain remark remedi remot remov remuner renam renew reorgan repair replac report repres request requir resazurin resco research resid residenti resist resolv resourc respect respond respons restor result retail retain retent retir return reus revamp revenu review revolut reward ridielac right rigid risk risk-control road role room rout routin rumbl runoff rva5 sa safe safeti sai saigon saigoncoop salari salary2013/2012 sale sanction sanit sao sate satisfact satisfactorili satisfi satur save sawdust scale scholarship school scic scienc scope scrap screen second second-degre section sector secur seek select selen self self-assess self-respect sell seminar send senior sensibl sensit sent sentiment sep separ septemb serious serv servic set settl settlement sever sewag sggp sgtt share sharehold shine ship short short-term show showroom shred sia siamensi sign signific similar simultan sinc sindora site situat six size skelet skill slaughter slip sludg so1 so10 so2 so3 so4 so5 so6 so7 so8 so9 social societi sodium sold solid solidar solut solv son song sourc south south-east southern sox soy soybean soymilk speci special specif specifi spend spill spirit sponsor sponsorship spring st stabil stabl staff stage stainless stake stakehold standard star stare start state statement station statist status steadi steam steel step still stipul stock stomach stop storag store storehous storm strateg strategi straw street strength strengthen strict strike strong structur student studi stunt subject submiss submit subscrib subsidiari substanc substant substanti success successor suffer suffici sugar sugarcan suitabl sun supermarket supervis supplement suppli supplier support sure surgeri surveil survey sustain susu system t5 t5-t8 t8 tabl take taken talent tam tan tank target task taupo tax taxpay tay tea team technic techniqu technolog tel teleconfer telephon temporari tend term termin terrestri territori test tet tetra thailand tham thanh thank thap thatch theeffici therefor thi thing third tho thoi thong thorough thousand three throughout thu thuan thus thuy tien till time time/year times/year tinh titl togeth ton tonn tool top topic torn total toward tower town toxic toxin tra trace trade trademark tradit train traine tran trang trans-fat transact transfer transform transit transmit transpar transport trao tre treat treatment tree tri trial trinh trung truong trust truth tu tuong turn turnov tuwharetoa tuyen two two-memb type typic u.s uht uliz under undergon underground understand undertak union uniqu unit unitari univers unsaf updat upgrad uphold urban us usa usag usd10 usd20.01 usd20.010.000 usd7 use util vaccin valu valuabl van varieti various vdn18 vea ventur verita version vfresh via victim vietnam vietnames vietnamnet view viewpoint viii vinamilk vinamilk-nurtur vinamilk.com.vn [email protected] violat vision visit vitamin vn vnd vnd1 vnd150 vnd180 vnd2.3 vnd250 vnd3.8 vnd600 vnr vocat voltag volum volunt voluntari vote vsip vuong wage wait want war ward warn wast water waterlow way websit week weight welfar well well-equip went whether white wide wild win withdraw within without women wonder wood woodi work work-rel worker workforc workshop world would www.afi.vn www.driftwooddairy.com www.vinamilk.com.vn www.vinamilk.com.vn/?vnm=faq www.vinamilk.com.vn/?vnm=faq) www.vuoncaovietnam.com x xa year years/periods yen yet yoghurt young youth yuki zealand zone ü đt đt-đtrnn đtrnn