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NewsMonday, 09/07/2020, 14:00

Satra required to become country's leading retailer

Standing deputy chairman of HCMC People's Committee Le Thanh Liem asked Saigon Trading Group (Satra) to strive to become one of the leading enterprises in the city, one of the country’s leading retailers by 2030, contributing to HCMC's economic structure transformation.
In addition, the group must continue to boost investment in the development of production and trade, expand its market to contribute to developing services sector, improving the quality of growth and enhancing the competitiveness of HCMC, he added at the 6th Congress of Satra’s Party Committee for the 2020-2025 tenure on August 31.
The company should focus on implementing targets, business strategies, and identifying key products, Mr. Le Thanh Liem said.
He highly appreciated outstanding contribution of the Party Committee of Saigon Trading Group to the economic development of the city, controlling inflation, stabilizing Consumer Price Index and ensuring an adequate supply of goods at stable prices.
Besides achievements, there remain constraints, such as trade and production activity that does not match with the sustainable development, having implicit risks and unexpected competitiveness, showing the ineffectiveness in the human resource development and commercial cooperation.
The Standing deputy chairman of HCMC People's Committee also suggested the group to carry out soon projects of business restructuring, capitalizing the parent company, building Party and leadership capacity.

In the 2015-2020 period, Satra reached a revenue of more than VND426, 450 billion (US$18.3 billion) and average annual growth rate of 11.73 percent. The company saw an estimated gross profit of VND76, 873 billion (US$3.3 billion) and export turnover of US$786 million. Total State budget contribution was estimated at VND97, 500 billion (US$4.2 billion).




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