On January 10, 2025, GELEX Group hosted a seminar titled “Risk Management in International Markets” in Hanoi. The event was part of the Enterprise Risk Management Framework Development and Implementation Project jointly carried out by GELEX Group and Ernst & Young Vietnam (EY Vietnam). The seminar served as a platform for exchanging and sharing lessons learned from major global corporations, aiming to enhance GELEX’s risk management capabilities and support its effective and sustainable expansion into international markets.

The seminar was attended by Mr. Nguyen Trong Hien – Chairman of the Board of Directors of the Group; Mr. Nguyen Van Tuan – Member of the Board of Directors, General Director of the Group; Mr. Dau Minh Lam – Member of the Board of Directors, Chairman of the Audit Committee, leader in charge of Risk Management of the Group; along with the Group’s Executive Board; Leaders of 2 sub-holdings and related professional staff.

Opening the seminar, Mr. Dau Minh Lam – Member of the Board of Directors, Chairman of the Audit Committee, stated that the Enterprise Risk Management Framework Development and Implementation Project has seen positive initial progress. The Group’s leadership and subsidiaries have recognized the critical role of Risk Management (RM) in the operation and development of the organization. In the context of the Group’s development strategy, reaching out to the world market, and cooperating with foreign partners, the role of RM is very important, ensuring the sustainable and stable development of the Group. With these goals, GELEX Group has assigned the topic to EY Vietnam experts to share lessons learned and RM strategies when participating in the international market.

Mr. Phan Dang Chuong – Deputy General Director of Ernst & Young Vietnam Co., Ltd. presented at the Seminar.

During the event, EY Vietnam shared insights on Risk Management and real-world scenarios regarding the international market expansion of both domestic and global corporations. EY Vietnam’s experts analyzed and clarified key factors influencing the process of entering international markets, deriving valuable lessons through the following topics: commercial due diligence and market penetration strategy development, human resource management and corporate culture adjustment, financial management, supply chain management and logistics, the impact of political and economic factors, and the social environment. From a unified perspective on risk management in international markets, the GELEX Group leadership and EY Vietnam emphasized the importance of forecasting, preparing for, responding to, and adapting to changes in the business environment. These capabilities are essential for achieving strategic goals and ensuring long-term sustainable growth.

Leaders of the two units exchanged at the seminar on Risk Management when participating in the international market, January 10, 2025

At the seminar, Mr. Nguyen Van Tuan – General Director of GELEX Group, highlighted the Group’s ongoing efforts to enhance awareness and capabilities in risk management as it expands into international markets. He emphasized that GELEX’s strategy focuses on seeking partnerships with experienced global players and leveraging the Group’s existing strengths to capitalize on emerging opportunities.

The General Director emphasized: To expand into international markets, GELEX must implement a focused strategy, avoiding dispersion, with a strong emphasis on collaboration and partnership. At the same time, the Group continuously strengthens its management capabilities, particularly by enhancing risk management expertise, to be well-prepared for effectively managing cooperation opportunities when engaging in international markets.

In an environment where risks are ever-present and increasingly complex, the Board of Directors of GELEX proactively leads the organization and supports the Executive Board in predicting, identifying, and adapting to both opportunities and threats. This includes addressing often-overlooked obvious threats as well as emerging risks, rather than solely focusing on response plans when risks occur.

Sharing at the seminar, Chairman of the Board of Directors of GELEX Group Nguyen Trong Hien emphasized the important role of internal preparation for resilience, helping GELEX adapt and respond effectively to changes in the context. The Chairman of the Board of Directors also suggested that the Group’s Risk Management Board consider the elements in the Resilience Framework to integrate into the current Enterprise Risk Management Framework, especially the issue of Third-Party Risk Management, to ensure that the Group and the GELEX System operate effectively and sustainably in the current volatile business context.

Ernst & Young Vietnam Co., Ltd. is a member of EY Global Limited, established in 1992, the first enterprise with 100% foreign investment in auditing and consulting services in Vietnam. Currently, EY Vietnam is a partner of GELEX in the Enterprise Risk Management Project launched in 2024.

The project is implemented in 3 phases:

Phase 1: Implementing the development of the Enterprise Risk Management Framework at GELEX, which is the focus and orientation for the development and implementation of the Enterprise Risk Management Framework for the entire System;

Phase 2: Implementing the development of the Enterprise Risk Management Framework at CADIVI;

Phase 3: Implementing the development of the Enterprise Risk Management Framework at the subsidiaries in the GELEX System.

Building an Enterprise Risk Management Framework is one of the important orientations emphasized by GELEX’s leaders at the 2024 Annual General Meeting of Shareholders. After many years of M&A spanning many fields, GELEX’s focus in the coming years is to build a good governance system, maximize the advantages of subsidiaries, and cooperate with foreign corporations to create higher value.

In particular, the Group’s leaders emphasized that they will prioritize risk management to ensure the system operates stably and towards sustainable development.

PR DEPARTMENT