EVALUATION OF THE REAL SITUATION OF IMPORT ACTIVITIES OF VIETNAM ENERGY DEVELOPMENT SUPPORT JOINT STOCK COMPANY FROM 2009 TO 2011. PROBLEMS AND SOLUTIONS.
NATIONAL ECONOMICS UNIVERSITY FACULTY OF FOREIGN LANGUAGES ENGLISH FOR BUSINESS DEPARTMENT - o0o - VO THI KHANH CHI EVALUATION OF THE REAL SITUATION OF IMPORT ACTIVITIES OF VIETNAM ENERGY DEVELOPMENT SUPPORT JOINT STOCK COMPANY FROM 2009 TO 2011 PROBLEMS AND SOLUTIONS Võ Thị Khánh Chi – CQ503823 – Business English 50B Hanoi, April, 2012 NATIONAL ECONOMICS UNIVERSITY FACULTY OF FOREIGN LANGUAGES ENGLISH FOR BUSINESS DEPARTMENT VO THI KHANH CHI EVALUATION OF THE REAL SITUATION OF IMPORT ACTIVITIES OF VIETNAM ENERGY DEVELOPMENT SUPPORT JOINT STOCK COMPANY FROM 2009 TO 2011 PROBLEMS AND SOLUTIONS Supervisor: LE THI THU HA Võ Thị Khánh Chi – CQ503823 – Business English 50B Hanoi, April, 2012 Võ Thị Khánh Chi – CQ503823 – Business English 50B ACKNOWLEDGEMENT This report would not have been possible without helpful and sincere support Therefore, I would like to express my deep gratitude to those people whose direct and indirect support helped me complete my report in time Firstly, I would like to show my warm and sincere thanks to all the lecturers of the Faculty of Foreign Languages of National Economics University By being taught the related subjects, I have learnt many essential skills and business knowledge to carry out this research and finish this report Besides, it is pleasure to thank to Mrs Nguyen Thi Thuy who gave me guidance during the period of this study Secondly, I am grateful to my supervisor, Mrs Le Thu Ha who has directly guided me during my study She has spent much time supporting, correcting my report to help me accomplish this report From bottom of my heart, I honestly wish her the best health and more success in her life and career Thirdly, I also would like to thank all the members of Vietnam Energy Development Support Joint Stock Company especially my supervisor, Mr Nguyen The Binh They have shared about their experience and knowledge in import business as well as support me the helpful documents, data related to my research I will never forget their sincerity and encouragement Finally, I owe my deepest gratitude to my beloved family and friends who always stand by me and create favorable conditions for me to complete the report TABLE OF CONTENTS i Võ Thị Khánh Chi – CQ503823 – Business English 50B ii Võ Thị Khánh Chi – CQ503823 – Business English 50B LISTS OF ABBREVIATION VNEDS JSC: Vietnam Energy Development Support Joint Stock Company EU: European Union &: And LISTS OF FIGURES iii Võ Thị Khánh Chi – CQ503823 – Business English 50B EXECUTIVE SUMMARY In recent years, in the context of blooming globalization and deep integration of countries into the world’s economy, import and export business in Vietnam is significantly considered as an effective tool to promote growth and economic development of the country, expand integration into the international trade market As a young company in the field of import of energy -supported equipment, the Vietnam energy development import support joint stock company is constantly developing to confirm its reputation in the domestic market However, during global economic crisis, the business activities of company especially import faced many difficulties and obstacles The import business‘s efficiency of the company influenced by many inside and outside factors was not maintain stably and not improved significantly Consequently, assessing its import activities and providing some useful solutions to promote its business’s effect is seemed to be necessary and practical That’s the reason why I chose “Evaluation of the real situation of import activities of Vietnam energy development support joint stock company from 2009 to 2011 Problems and solutions” as the subject of this report Apart from the introduction and conclusion, the final report is divided into four chapters The first chapter provides readers with the knowledge of the company’s establishment and development, strategic orientation and organizational structure The second chapter presents theoretical background which mentions basic theories about import activities and factors affecting the company’s import efficiency Chapter three deals with analysis and evaluation of import activities of Vietnam energy development support Joint Stock Company The last chapter gives some recommendations to improve the effectiveness in import activities of the company iv Võ Thị Khánh Chi – CQ503823 – Business English 50B INTRODUCTION Statement of the problem Nowadays, in the age of global economic integration, promoting import and export activities is considered as the biggest priority of Vietnam to expand and occupy regional and international markets Besides encouraging export in order to boost domestic production and increase foreign exchange earnings, import is considered as a basic aspect of foreign trade and an important way for economic development Import has been helping the nation explore its potentials, advantages and supplement the products which cannot be produced domestically or the amount of products cannot meet consumption However, despite the advantages of importing, many economists and governments believe that importing goods can lead to the erosion of their national economies—especially when imports exceed exports There are many discussions around the negative effects of the import on the global as well as individual economies The economists have talked much about the trade balance deficit or the loss of competitiveness resulting from the over-reliance on the import and the worries that the super-import will kill the domestic production seem to never end Moreover, the international economic integration has created not only new chances but also big risks for enterprises The multinational trade agreements and their regulations along with respective national trade policies causes great challenges for the enterprises to import the best technology, machine and equipment with low cost in short time Being established in this context, Vietnam energy development support joint stock Company which focuses on importing energy supported products had to face various inside and outside difficulties threatening its survival Thus, in order to continue to maintain stably and confirm its reputation in the domestic market, it is necessary for the company to have an evaluation of the impacts of the import on the company’s business, especially its business results The evaluation will bring an insight into the company’s business state in recent years and solutions to improve its efficiency Therefore, through the activities of the company in recent years that I researched during my internship period, I would like to make a report on: “Evaluation of the real situation of import activities of Vietnam energy development support joint stock Company from 2009 to 2011 Problems and solutions” Võ Thị Khánh Chi – CQ503823 – Business English 50B Purpose and Scope of work This report mainly aims at: - Finding factors affecting import activities of Vietnam energy development support Joint Stock Company - Analyzing the situation of import activity of the company in recent years - Evaluating the importance and effectiveness of those activities - Recommending some solutions to enhance import activities Scope of this report: The scope of this report is about the real situation of import activities of Vietnam energy development support Joint Stock Company during the period from 2009 to 2011 Based on findings and analyses, the author would give some suggestions to enhance export activities in the near future, first of all, in 2012 Research question The report will be analyzed to answer these questions as follows: How did the import activities operate during the period from 2009 to 2011? What difficulties has the company encountered? What should be done to improve the effectiveness of import activities and strengthen the company’s position in market? Methodology The study is primarily based on the data from the Vietnam energy development support Joint Stock Company Within the scope of this research, growth factor analysis is utilized Besides, table chart analysis is used to further clarify matters Furthermore, descriptive analysis is also made use of through looking at the history and development of the company Through results of the analysis from the data, the author point out achievements and shortcomings in import operation of the company Finally, some critical solutions are recommended to narrow down the disadvantages and enhance its import operation efficiency ... OF VIETNAM ENERGY DEVELOPMENT SUPPORT JOINT STOCK COMPANY As a young company in the field of import of energy -supported equipment, the Vietnam energy development import support joint stock company. .. of import activities of Vietnam energy development support joint stock company in recent years 3.1 The real situation of the company from 2009 to 2011 3.1.1 The company? ??s capital As a young company. .. period, I would like to make a report on: ? ?Evaluation of the real situation of import activities of Vietnam energy development support joint stock Company from 2009 to 2011 Problems and solutions”