The Covid-19 pandemic broke out in the early months of 2020, which negatively impacted Ereco’s production and business activities and caused difficulties to pile up. Many projects have been completed by the company, but the capital recovery progress is still slow. Many investors and general contractors are still slow in the work of acceptance and settlement.
However, the difficulties during the COVID pandemic were the “driving force” that pushed Ereco to transform, improve its coping capacity, and continue to develop stably. Ereco is speeding up the progress of projects that the company is implementing to hand over to investors to recoup capital. For example, the Wendler Interlining Factory project in Quang Nam is entering the completion stage and is expected to be handed over to the investor in the fourth quarter of 2020. The TOTO 4 Vietnam project in Thang Long II Industrial Park, Hung Yen is also speeding up the implementation progress.
In addition to stabilizing the situation of production and business activities, many strategies are adjusted following market developments and the Covid-19 pandemic. “Brand development” is also one of the priority strategies of the business this year. According to the direction of the Board of Directors of the company, giving priority to re-establishing the image (brand name) is considered as a specific strategy to help businesses create a competitive advantage in a new normal period.