Forwarding process of importing nutritional supplements by sea from thailand to vietnam at mrl shipping co ltd

is an excellent example of professionalism, dynamism, and innovation in adjusting to economic development, with expertise in the sector of import and export freight forwarding.. MRL is o

VIETNAM GENERAL CONFEDERATION OF LABOUR

TON DUC THANG UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION

ĐẠI HOC TON ĐỨC THẮNG TON DUC THANG UNIVERSITY

PROFESSIONAL INTERNSHIP REPORT

FORWARDING PROCESS OF IMPORTING NUTRITIONAL SUPPLEMENTS BY SEA FROM THAILAND TO VIETNAM AT MRL SHIPPING CO.,

VIETNAM GENERAL CONFEDERATION OF LABOUR

TON DUC THANG UNIVERSITY FACULTY OF BUSINESS ADMINISTRATION

TON DUC THANG UNIVERSITY

PROFESSIONAL INTERNSHIP REPORT

FORWARDING PROCESS OF IMPORTING

NUTRITIONAL SUPPLEMENTS BY SEA FROM

THAILAND TO VIETNAM AT MRL SHIPPING CO.,

LTD

Instructing Lecturer: MBA.Tran Thi Van Trang Student’s name: Tran Lé Thanh Tué

Student’s ID: 721K0456 Major: Business Administration Academic Year Code: 2021-2025

HO CHI MINH CITY 08/2023

ACKNOWLEDGMENT For the roughly 8-week duration of my internship, I will be able to consolidate and apply the information I have acquired in the academic setting to my job while also gaining new knowledge from practical experiences Additionally, work on developing my abilities Even though my internship and job experience were short-lived and I still have weaknesses, I am confident that the lessons I took away from this practical setting will help me to better focus on my future profession I've been able to widen my horizons, take in, and develop new information

Before anything else, 1 would want to express my thanks for the chance to attend Ton Duc Thang University, where I have access to knowledgeable professors that help me expand my knowledge, skills, and experiences through internship programs I want to express my gratitude, in particular, to MBA Tran Thi Van Trang, for her enthusiasm and dedication to advancing important information and disseminating her own practical experience to help me and the other students complete the task at hand and rectify our learning objectives

Furthermore, I want to thank MRL SHIPPING COMPANY LIMITED for allowing me to work in a professional environment | want to express my appreciation to Mrs Phan Thi Thanh Ha, my instructor, in particular for her unwavering encouragement and suggestions that have helped me develop my skills and knowledge With the aid of this course, I was able to gain a lot of useful logistical knowledge and abilities that would help me in my future career

Sincere appreciation!

EVALUATION OF INSTRUCTING LECTURER

Ho Chi Minh City, Dale

Student’s name: Trần Lê Thanh Tuệ Studen£s ID: 721K0456

EVALUATION OF COMPANY FOR INTERNSHIP

721K0456

2025

Ho Chỉ Minh City, Ddle

TABLE OF CONTENT

LIST OF PICTURES, FIGURES, TABLE G scsssssssssessessecesesseceseesseersseesseseeeesoes 1

1.4.1 Vision and ÏMission cóc 6 c6 3 5 E5 9 S Y2 2 7

2.2.2 Prepare documentation for the shÏpDIM€HÍ, 2.5555 5 55555 555555055555 55 20

2.2.4 Obtain the product(s' arrival notification (ÁN) co c1 155515555 21

2.2.5 Conduct customs declaration and finish customs documents 006 22

2.2.7 Receive tax notifications and results of customs clearance 0ss00s00 27

2.2.10.Deliver merchandise to the warelh0US€ co co c0 Y5 n9 9e 31 2.2.11 Deliver to the importer and seffÏeim€nIf - - <5 <5 s=s< se s+x se 32 2.3 Evaluation of MRL SHTIPPING)s imporft proCe€dlure - 5555 s ss sss 32

3.2.1 Increase the professionalism and qualifications of firm staff 00 35 3.2.2 Increase the variety of services offered by global freight forwarders

LIST OF PICTURES, FIGURES, TABLE

Image 1: The "general information 1" part in the electronic customs declaration 22

Image 2: The "general information 2" part in the electronic customs declaration 22

Image 3: The "general information 2" part in the electronic customs declaration 23

Image 4: The entry “list of goods” in the electronic customs declaration 24 Figure 1: Organizational strueture of MRL Shipping Co., Ltd -.-c c2 c2 s+2 9 Figure 2.1: The relationship between parties c0 2120112111211 1 1212112121112 g 16 Figure 2.2: The importing pFOC€SS 0 20 2011211122112 1 121111115211 152211 2111 11 5112k rrrry L7 Table 1 1: General information of MRL Shipping Co., Litd 22c 2252222 csss2 2 Table 1 2: Branches of MRL Shipping Co., Litd - 2 2 22 2221111211121 1111 11111121 +2 4 Table 1 3: Personnel situation of MRL SHIPPING 1221121112 21122 tre 13 Table 1 4: MRL's business performance throughout three y€afrs :: 5 c5- 2: 14

Kilo-grammes Equipment Interchange Receipt Human Resources Company Limited Delivery Order Arrival Notice Certificate of Origin Harmonized Commodity Description and

Coding System

INTRODUCTION

An unavoidable tendency of the times, globalization and worldwide economic integration have been sweeping the globe like a wave As a result of its active participation in the process of global economic integration, Vietnam has made several outstanding progress in line with this trend Vietnam has established active diplomatic and trade relations with international organizations like the World Bank (WB), the World Monetary Fund and the World Bank (IMF), United Nations (UN), Asian Development Bank (ADB), and plays significant roles in regional and global economic and trade organizations like ASEAN, ASEM, and APEC Vietnam's foreign policy is guided by the motto of "diversifying and multilateralizing foreign relations" Particularly, the formal admission of Vietnam as the 150th member of the World Trade Organization (WTO) on January 11, 2007, has marked a significant advancement in the country's economic operations and the expansion of its foreign trade The development of import and export products forwarding operations, the nation's guiding principle in the market economy mechanism, is a result of increased international commerce

The growth of transportation and forwarding businesses in Vietnam, especially

in the sea freight forwarding operations of imports, is due to the increasing specialization of an integrated economy MRL SHIPPING Co., Ltd is an excellent example of professionalism, dynamism, and innovation in adjusting to economic development, with expertise in the sector of import and export freight forwarding | chose MRL SHIPPING Co., Ltd as my internship location to learn and understand the procedures and processes of importing and exporting goods by sea As a result, | created an internship report titled "FORWARDING PROCESS OF IMPORTING NUTRITIONAL SUPPLEMENTS BY SEA FROM THAILAND TO VIETNAM

AT MRL SHIPPING CO., LTD." Thanks to the experience, I can now provide recommendations to help enhance the project

There are three chapters in the internship report:

Chapter 1: An overview of the internship company

Chapter 2: Examining the business's operating procedures

Chapter 3: Solutions and Recommendations

CHAPTER 1: OVERVIEW OF MRL SHIPPING COMPANY LIMITED

3 Street No 9B, An Phu Ward, Thu Duc

Address City, Ho Chi Minh City cau

More than 1800 employees

Table 1 1 General information of MRL Shipping Co., Ltd

1.2 History of establishment

MRL Shipping Co., Ltd (Formerly known as More and Romsdal Logistics Co., Ltd - MRL Logistics) was established in 2008 MRL is one of the leading international freight forwarding, relocation, and project logistics management companies delivering cost-effective solutions throughout Vietnam MRL develops

comprehensive freight forwarding, project logistics, and relocation service plans tailored to meet the specific requirements of our customers This is accomplished by learning customers’ exact objectives about their internal and external requirements Thus, we ensure that MRL will provide quality services more consistently than any other service provider in the market Our tried and proven multimodal transportation routes to Vietnam, ensure international reach for any cargo and timeframe requirement We are very proud of our reputation and always strive to maintain it Supported by our own offices and associates worldwide, MRL employs

a team of professionals that follows up on every transaction we manage With our Global Service Network across 80 countries, we aim to be the most reliable Freight Forwarding, removal, Relocation, and Project Logistics Management Company In the market We have an inspired, people-driven, and dedicated approach to serving our valued customers While we are proficient in offering worldwide moving, freight forwarding, project logistics, and related services, we are not satisfied with just that MRL also strives to be committed advisors to our customers and associates

at all times

Since 2008, MRL has been recognized as one of the most successful independent freight forwarding, removal, relocation, and project logistics companies in the CIS region In the Vietnam transport and logistics market, MRL ranks among the top ten Publications have cited MRL as one of the largest (in terms of number of offices, employees, and wide-ranging service portfolio) and the most reliable companies in Vietnam’s market Successful freight forwarding, relocation, and project logistics management services in challenging markets like Vietnam require expertise, inside knowledge, and reputation businesses can trust Our in-depth knowledge of Vietnam, combined with our regional and international service network makes MRL a leading service provider in the region MRL provides

a one-stop shop to meet all of your logistics requirements Whether you are looking

to relocate household goods across the region or move an offshore drilling platform across the seas, MRL has the level of service, expertise, and experience to make it happen Because MRL is genuinely autonomous, makes its own decisions, and focuses on its local market, you can expect individualized service at every level from us There are several branches throughout the globe:

1717 Sichuanbei Rd., Hongkou District, Shanghai Batiment E, Boulevard De Cadrean,

44550 Montoir De Bretagne, France Box 588, Changi Airfreight Centre, Singapore 918103

No 75-1, Jalan Ramin 1/Ks7, Botanic Business Gateway, Bandar Botanic,

41200 Klang, Selangor Darul Ehsan,

Malaysia

PO Box 17166, Dubai, United Arab

Emirates Sportallee 79 | 22335 Hamburg —

Germany

7th F Eunsan B/D, 65 Haekwan-ro, Jung-gu, Busan, Korea

78 Delta Street, Geebung QLD 4034

5F O.1 Shibaura BLDG 3-19-19, Shibaura, Minato-ku, Tokyo, Japan lable 1 2: Branches of MRL Shipping Co., Ltd

1.3 Values

MRL wants to work in conjunction with clients, business partners, and organizations to increase revenues Since joining the world transport organization WCA in 2005, the company has successfully built a network of 200 agents in more than 100 countries and territories worldwide In addition, we have MRL-affiliated agents working for us in several countries, including Australia, India, Brazil, Canada, and Dubai In 2008, we were one of the few Vietnamese logistics firms to meet ISO 9001-2008's criteria, the organization's global standard for freight services In 2009, the Ho Chi Minh City Customs Sub-Department recognized us as

a legitimate customs agency Currently, with a monthly shipping capacity of more than 1000 containers, 70% of the goods we transport are imported China is one of our primary markets at all times, accounting for more than 50% of the total volume

of imports We are presently the top-tier agents in Vietnam for the 50 largest shipping lines in the world and the ten international airlines specializing in freight transportation Our staff, which consists of more than 80 seasoned workers, consistently gives their all to meet the demands of our clients

1.4 Vision, mission, and field of business

1.4.1 Vision and Mission

- Vision: By offering all clients great value-added services quickly and precisely

in the direction of wealth and development, MRL hopes to rank among the top logistics firms every single thing

- Mission: MRL Shipping has a mission to develop and offer integrated services

in the transportation, aviation, and e-commerce logistics industries in the context

of the forwarding and logistics market, which is undergoing integration and strong competition while integrating creativity, respect for the clients we serve, and confidence in them

1.4.2 Field of business

- Air Freight

International freight forwarding frequently requires striking a balance between time, expense, and environmental considerations One of the reasons businesses use MRL Logistics for the efficient and affordable transportation of their goods is because of this Like them, you can be sure that our international partnerships provide you with the freedom to select from a variety of air and ocean freight service alternatives offers end-to-end visibility that is flawlessly matched to your individual needs

Our main focus is on providing excellent customer service, and we aim to build long-lasting partnerships with our clients We believe that the term "partnership"

truly reflects our approach, as we do more than just connect you with customers worldwide Our Lead and Time-Based Services offer a range of options to suit your needs, including the Express option for urgent freight (1-2 days), the Standard option for 3-5 days with customizable features, and the Economical option for 5-7 days with a focus on financial efficiency If lead time is a critical factor, we can arrange charter flights to transport your goods anywhere in the world, and we can also solve capacity, heavy load, or other significant freight issues We provide both air and sea transportation, with more cost-effective lead times than ocean freight Moreover, if you need to transport goods quickly from or to an inland location, we offer a combined air and truck service

- Industry-Related Solutions

Almost every business has distinct requirements for handling and storing products, and at MRL Logistics, we have the industry-specific expertise and global network to meet your needs, including those for perishable goods, cold chain, temperature control, and small package delivery, and project cargo of any shape, size, or configuration

- Ocean Freight

By leveraging our strong and long-term carrier relationships, MRL Shipping offers you flexible, reliable, and secure ocean freight solutions Customers value our expertise in international ocean freight forwarding across a global network that spans forty countries They value the ability to link with other services such as air freight forwarding, multi-modal transport, cross-border services, or customs house brokerage

More than this, our customers know we understand the world from their perspective and are working to support them and their businesses The concept runs through everything we do, from finding the best schedule for shipments to selecting the best way of organizing it; splitting or sharing loads; integrating other value- added services; and providing constantly reliable and quality service Simply put —

we don’t let customers down

- Full Container Load (FCL)

Our longstanding relationships with a wide range of carriers means we are ideally placed to get space on ships and find schedules that will work, with competitive rates Our FCL services are supported by web-based tracking systems enabling you to gain visibility of your shipment status

- Less than Container Load (LCL)

Our less-than-container load services give you the flexibility to meet your varying requirements, reliably and under control Providing our consolidation services, or Multi-Country Consolidation Services (MCCS) for more complex shipments, supports you in managing freight costs and shipment times Our LCL services are enhanced by online track and trace functions, helping you gain control over shipment visibility

- Project Cargo

Our dedicated Project Cargo Team has deep experience in all modes of transport They, in turn, can draw on local hands-on expertise to handle the most complex project cargo, from concept, through planning to final execution

- Less than Truck Load (LTL)

Our LTL service can help you efficiently manage your loads and streamline your domestic supply chain At MRL Logistics, we offer co-load and consolidation LTL services to decrease your expenses and enhance your distribution pipeline With our expertise, innovation, and understanding, we provide solutions to any less-than- truckload shipping obstacles, providing coordination and value at every step We also offer cross-border LTL services, spot rates, comprehensive reporting, and expedited service for your convenience

- Consultancy services

Helping you develop the most efficient, cost-effective intermodal transportation network, domestic or cross border

- Project cargo services

At MRL Logistics, we have expert project teams that specialize in facilitating large, complex, and out-of-gauge freight With no weight or size restrictions, our staff can assist you with sophisticated marine freight movements and integrate with

other supply chain services Whether it's site evaluation and feasibility studies for roads and weather, heavy lifting, rail, or tug-and-barge multi-modal transportation, our project logistics team can deliver effective and qualified services We also transport specialized equipment such as platforms, open tops, flat racks, and artificial tween deck solutions for our clients

Our project cargo customers now come from a variety of industries, including oil & gas, pulp & paper, automotive, construction, and power & energy commodities And MRL Logistics is honored to serve as Vietnam’s Largest Refining and Petrochemical Company's long-term authorized logistics services partner

- The escrow service

Customs processes provide various challenges for firms as demand for importing and exporting products rises Coming to MRL Logistics, clients will receive the highest level of assistance in every operation, or clients may utilize our entire import and export entrustment service at a reasonable cost and pricing

To assist clients in clearly understanding and gaining an understanding of information (complete transaction papers and invoices) at a fair price, we have been supporting trustworthy import and export services with a variety of diverse business lines reasonable and beneficial for customers in terms of commerce and development

Having been in business for more than 50 years, we have the expertise, knowledge, and aptitude to understand the requirements of the import and export market In addition to regular import and export operations, MRL has been creating associated services such as import and export entrustment

1.5 Company’s organizational structure

1.5.1 Organizational Structure

Each company's organizational structure plays a critical role in its achievement

A sensible organization will serve as a foundation for the company's long-term success Due to the size of the firm and the fact that it offers the majority of logistics-related services, Indo Tran is organized into several small and big divisions, each of which has a very definite and well-defined role and task But | separated it into the following primary areas to make it simpler for readers to understand and visualize: structure is currently pretty reasonable

Mr Tuan Dong

Operation Commercial

Department Department

Administration Documentation Accountant IŒT Trucking Sea Freight Air Freight Agency

Figure 1: Organizational structure of MRL Shipping Co., Ltd

(Source: https://mrl.com.vn/) 1.5.2, The function and mission of each department

1.5.2.1 Chief Executive Officer (CEO)

The firm is run by Mr Truong Tuan Dong, who analyzes the performance of the many divisions and business sectors to see if they are successful in attaining their stated objectives As CEO, he establishes strategic strategies for maximizing the efficiency of each department by putting into place precise objectives for management boards and team leaders Additionally, by designing procedures, managing staff, cultivating an atmosphere where people are highly driven, and coming up with novel ideas for the advancement of MRL SHIPPING, he evaluates and enhances organizational effectiveness In light of the aforementioned, he serves

as the manager who gives direction and comments to aid staff in honing certain knowledge or skill sets during monthly meetings When aiming to become a dynamic company with outstanding service, he needs to uphold standards of excellence and soaring quality for every staff member In addition, seeking out opportunities for expansion and growth is obligatory for every business that wishes

to succeed, in the case of MRL SHIPPING, Mr Tuan Dong ought to be the leader in deciding to develop the firm’s business to empower the company’s resource in the logistics field He must maintain high standards of excellence and rising quality for each employee if he wants his business to grow into a vibrant one with exceptional service Additionally, finding possibilities for development and expansion is a must for every company that wants to flourish In the case of MRL SHIPPING, Mr Tuan Dong should take the lead in deciding to expand the company's operations to strengthen its resources in the logistics industry

1.5.2.2 Accountant Department

The MRL SHIPPING finance department ensures effective financial management and the financial control required to support all company operations Manage all cash flows into and out of a corporation by managing the finances inside the organization and arranging for the expenditure of funds for other departments to operate They must input data, track costs (purchases, payments, etc.), send debit notes and statements of credits to clients for payment, and follow up with them to see if bills have been paid This department is responsible for making sure that clients make accurate and timely payments to maintain the company's financial stability and that everyday operations go without a hitch Additionally, they must develop the company's budget projections and inform the stakeholders of the company's financial situation Most notably, the finance team performs the duties of

a bookkeeper by paying invoices, handling accurate tax assessments, and making sure tax payments are sent to the appropriate government authorities on time 1.5.2.3 Documentation

The documentation department's primary responsibility is to carry out tasks related to import and export goods documents carried on board ships operated and served by the Company as a forwarder, such as: asking ship owners/loading port agents to provide accurate documents, gathering and checking documents, amending documents as needed, sending notices of arrival (NA), issuing delivery orders (D/O), issuing cargo manifests (B/L), issuing bills of lading (B/L), issuing invoices, etc Their responsibilities include:

- Verifying the correctness of documentation regarding import and export products before turning them into customs

- Assure that products are delivered to clients by all applicable laws and regulations

- To make ship/cargo operations swift and convenient, work in conjunction with other corporate departments such as the agency department, tally, and accountant This will ensure both the general functioning of the business and the document department's job

1.5.2.4 HR Department

The HR department's duties include resolving employee complaints and overseeing employee benefits The hiring of qualified workers is one of the HR department's key responsibilities Additionally, they are the ones that teach new employees internally and assist them in learning the organization's structure and workings Alternatively, this department might teach current employees or contract

out the task to specialists to improve worker productivity Additionally, the HR team must schedule meetings and activities and notify other employees of them Monitoring payroll and ensuring that all employees are paid appropriately and on time is another crucial responsibility of the HR department Lastly, in the pursuit of

a well-growing business, disqualified personnel needs to be listed out, so firing employees and conducting exit announcements, and arranging for the employee's last paycheck are their responsibility Finally, to maintain a successful firm, ineligible staff must be identified As a result, employers must discharge employees, conduct departure interviews, and arrange for their final salary

1.5.2.5 Trucking Department

The department's primary goal is to offer customers trucking services with better capacity, competitive prices, and enthusiastic customer care Expert LTL specialists at MRL SHIPPING offer specialized shipping solutions for shipments of every size, from packages to pallets To build a tailored routing guidance that is particular to the customers' lanes, the team will study freight movements To enable

a seamless transition to LTL/FTL, the department additionally manages the start-up procedure

1.5.2.6 ICT

The company's computer systems and electronic data stability are maintained

by the ICT department The present focus is on developing trends while also developing algorithms and features to serve other departments and e-logistics operation management ICT must regularly monitor the state of the company's digital systems and take proactive action in the event of any incurred system problems because digitalization is highly recognized and applied to every department's process daily

1.5.2.7 Sea Freight Department

The Sea Freight Department of MRL SHIPPING offers a comprehensive selection of marine transportation alternatives, such as import and export solutions, freight forwarding, and documentation services ITL utilizes a large network of carrier partners to provide several routing and scheduling options as well as flexible capacity control Working together with the sales representatives of the shipping lines, the personnel of the sea freight department is in charge of obtaining the most affordable prices to give to clients and other divisions of the business Any project cargo handling requirements, including complete container loads, less than container loads, hazardous, refrigerated, special commodities, oversized, or project cargo handling requirements, may be handled by ocean freight services They also

analyzed the market outlook, forecasting trends in the sea freight field to make analytical reports

1.5.2.8 Air Freight Department

MRL SHIPPING has the expertise and a vast network of carriers when 1t comes

to air freight The Air Freight team provides a broad array of air services for both domestic and international export and import shipments They offer multiple types

of routings through cargo, commercial, and charter air carrier partners Depending

on the customers’ needs, they can offer same-day, next-day, and deferred air options

We can also combine surface and air transportation to/from almost anywhere in the world And the freight forwarding and documentation services streamline booking and pre-shipment planning

1.5.2.9 Agency Department

This department at MRL SHIPPING mainly deals with oversea agents to build a strong network of agents all around the world Via the connection with the agents in different countries, the team can check the inquiries relating to the destinations charges for export shipments or the competitive ocean freight, and air freight for import shipments It is a way to improve the performance of commercial departments by using the market capabilities and networks to grow in volumes and profits The main tasks of the Agency department are to identify and maintain relationships with oversea agents by sending inquiries to them and offering good rates for their shipment to and from Vietnam While winning new business, they also provide a high level of service to existing customers by maintaining, and building ongoing, long-term relationships with them, and most importantly, continuing to follow up with and meet the needs of the agents

Over 35 years old 22 73,33%

On the other hand, veteran employees will deal with problems in a timely and efficient manner because of their expertise in the business Aside from that, 27% of the firm is made up of people who are between the ages of 22 and 35 They may devote their attention even if they are still young As an example, they put in extra time, arriving early or remaining late, and may offer to help with additional jobs after their assigned responsibilities are completed In addition, young workers find it

simpler to adjust and be adaptable in such a diverse and challenging work environment

The firm is dedicated to providing its employees with better education opportunities and welfare programs upon their return, therefore it constantly encourages them to enroll in evening classes or universities to seek further degrees Also, MRL SHIPPING is always thinking about the well-being of its workers, making sure that their pay is always raised and that their spiritual lives are enriched

by providing them with welfare programs like health insurance, hospitality programs, and regular medical check-ups, or by planning extracurricular activities like recreational activities, touring, outdoor activities, and travel

As a result, they may contribute to the growth of the organization These rules can make employees feel safe and comfortable These laws were also intended to lower the cost of recruiting and onboarding new staff members while assisting businesses

in keeping skilled personnel on staff The great majority of people (83%), of whom hold a foreign language certificate (in either English or Chinese) Being employed

by international corporations allows these individuals to be more adaptable and flexible Furthermore, seventy-five percent of inhabitants possess excellent computer abilities, making them capable of driving the growth of the company 1.7 An analysis of the company MRL SHIPPING's financial situation from

Table 1 4: MRL's business performance throughout three years

(Source: MRL SHIPPING's financial accounting department)

- Revenue:

The firm's revenue does not generally rise throughout the years (2019-2021), but it does not decrease radically either Because this period coincides with the global COVID epidemic, which also has an impact on MRL SHIPPING, the company decides to pursue a steady and sustainable business model during this

time.

Revenue dropped by 533 (million VND) in 2020 compared to 2019 Vietnam's economy collapsed, notably in the area of import and export, which is still the cause

of this downturn As a result, the firm lost many key transportation and forwarding contracts, many of which were big, regular business from long-term clients

In comparison to 2020, revenue fell precipitously in 2021 by 42 (billion VND) The COVID-19 pandemic in 2021 added additional variants to existing global events, making the recovery of the global economy more difficult One of the nations most severely impacted by the pandemic is Vietnam, whose economic growth in 2021 will be the lowest in the preceding 30 years at only 2.58% MRL SHIPPING Company likewise suffered a great deal

- Cost:

In addition to the drop in income from 2019 to 2020 brought on by business cuts to sustain operations, operating expenditures in 2021 continue to fall dramatically from 2020 (VND 1.8 billion) to continue reducing budget spending to invest in and combat the pandemic

- Profit:

Over time, the company's earnings often tend to decline slowly From 2020 to

2021, there will be a 287 million dong decline from 2019 and a 13 million dong decline from 2020 Prudence, combined with balances in business revenue and spending, helps to retain the company's profit at a consistent level despite economic challenges that generated volatility in revenue This establishes a strong basis for the business to withstand obstacles in the next years