Tobacco Asia

Volume 19, Number 2

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tobaccoasia 71 THE MASTERS OF PERFORATION PerfoLas High Throughput Perforation PerfoLite Medium Batch Sizes PerfoLab Smaller Volume Production ROFIN-BAASEL Lasertech Petersbrunner Straße 1b 82319 STARNBERG/Germany Tel.: +49(0)8151-776-0 Email: W E T H I N K L A S E R ■ Laser for any production volumes and any budget ■ Visual Porosity Measurement (VPM) for quality assurance ■ Easy to operate HIGH SPEED LASER FOR PERFORATION ROF_AD_TabAsia05_89x254_1113_print_1 18.11.13 11:04 Seite 1 ing the legal environment and renovating the party's and state's structure. Since then the Vietnamese economy became open and transformed from a centralized, planned economy heavily based on imports to a market-oriented nature. Vinataba became the leading business, enjoying dominant domestic market share as well as tobacco exports and has achieved significant milestones throughout the 30 years since its inception. The most significant milestones have been as follows. Formation of The Union of Vietnam Tobacco Factories on April 5th, 1985. On this date, the Council of Ministers (gov- ernment) decreed the establishment of the Union of Vietnam Tobacco Factories, referred to as the Union of Vietnam Tobac- co (precursor to Vinataba), on the basis of a merger of the Unit- ed Tobacco Factory I and the United Tobacco Factory II. This was to unify the two organizations with the purpose of focus- ing on management to implement targeted production develop- ment programs of the state. The birth of the Union of Vietnam Tobacco was the result of a process of advocacy, innovative thinking in terms of organization, and production direction at a macro management level. Accordingly, a closed production and business economic sector was gradually formed, which marked a new step in management practices and became a first manage- ment model for the entire Vietnam tobacco industry. Vietnam National Tobacco Corporation incorporated April 29th, 1995. Under this new "state" model, Vinataba was empowered to: appoint officials as well as have control over in- vestment and pricing, autonomy of finance and operations, and scope of business expansion. During 10 years of operation un- der the model of Corporation 91, Vinataba made great progress in the organizational restructuring of the industry and was in- volved in policy system development, which was the legal basis for business management, production of tobacco, and market stability. In addition, as a leading corporation in the Vietnam to- bacco industry, Vinataba set benchmarks with its developments in areas from raw materials to production and distribution. Having achieved great progress in the tobacco sector, it was also time that Vinataba moved ahead with its diversification. The operation of Vinataba no longer relied on the funds contributed by its affiliates. Instead, costs, profits, and capital accumulation from business development had been firmly ensured, creating a solid basic premise for the conversion of the corporation to operate under a parent company business model in later periods. Vinataba switches to operate as parent company on January 1, 2006. During this period, upon receiving state equity participation in Nguyen Du Joint Venture, Nam Dinh Food In- dustry JSC, and Northern Food Company, Vinataba effectively engaged in production management of major business sectors in the foodstuff industry. Proper restructuring of the parent company actually demon- strated its financial strength and business potential. At this time, while other economic sectors were facing a decline, the domestic market of the tobacco industry, in which Vinataba dominates, remained stable and growing.

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